South Shore Bank IRA Specialist in South Weymouth, Massachusetts
This position will work with multiple departments in the Operations/Technology/Retail areas to assist as needed. The IRA Specialist is responsible for working with business and technology business units to maximize product and operational improvements within the IRA portfolio. The IRA Specialist needs to focus on execution to ensure that the company goals and objectives, together with operations performance targets, are achieved. The IRS specialist has the responsibility to conform to the company’s goals with an independent determination and course of action. Primary functionality will consist of all aspects of maintaining IRA procedures as determined by Bank's management and regulatory agencies. Requires analytical skills to evaluate information and accuracy of data to determine and implement appropriate enhancements/actions.
Responsible for the administration of the Bank's retirement plans.
Serves as a liaison regarding IRA related issues.
Prepares retirement related transactions, reports, and statements.
Studies and standardizes procedures to improve efficiency of retirement services.
Responsible for revisions in the Retail IRA Manual.
Assists in developing annual training sessions for Retail staff to ensure optimal customer support.
Participates in Retail meetings as needed.
Works with Retail staff to fill out contract forms, determines charges or fees for service requested, collects deposits, prepares change of address records, and proper disclosure forms.
Responsible for Federal & State withholding on distributions. Remits funds to agencies.
Responsible for year-end IRS reporting.
Assists in Department Audits.
Refers customers to Investment Department to develop new Business.
Quality Control on daily Monetary Transaction Report/Maintenance Report
Quality Control for distribution checks and mailing.
Assists with more complex or exceptional retirement plan issues.
Responds to customer complaints, questions or problems regarding retirement plans.
Attends seminars, classes and necessary meetings to keep abreast of developments within the retirement services field and apprises staff of regulatory compliance and industry changes.
Consider this description to be the foundation of your job, not its boundaries. Expect to participate in internal and external training sessions and activities not described here which enhance the quality of service to the customer
Back-up coverage for Deposit Operations functions including Quality Control and Customer Support
Customer Source module – maintenance, QC, enhancements for customer records on core system
Associate's degree or equivalent from two-year College or technical school preferred; or 3 years related IRA experience and/or training; or equivalent combination of education and experience. Attend ongoing training.
External Company Name: South Shore Bank
External Company URL: www.southshorebank.com
Street: 1584 Main Street