IRA Clerk - First Financial Corporation - Terre Haute, IN
Typical Job Entry Requirements
(To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required.)
• Associate’s Degree in Business, Finance, or Accounting preferred.
• Previous banking experience with emphasis on IRA’s a plus.
• Accuracy and attention to detail.
• Good analytical ability.
• Excellent customer service with written and oral communication skills.
• Ability to work independently or as a member of a team.
Primary Activities
(Essential duties and responsibilities include the following. Other duties may be assigned. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.)
• Review and process incoming IRA and HSA documents to ensure proper completion.
• Correspond with Branches to coordinate necessary corrections.
• Perform quality review of account holder information to ensure it has been properly entered into system and make corrections as needed.
• Monitor New Accounts report to ensure documents are received for all newly opened IRAs.
• Calculate formulas, percentages, and figures as they relate to new and cashed-out IRAs.
• Create Distribution forms within Encore for Branches to print and obtain customer signature.
• Process all deposits, withdraws, and close-out transactions on IRA accounts.
• Process Transfer and Rollover requests from customers and other institutions.
• Process Beneficiary accounts after IRA/HSA owner’s death by creating new accounts, generating documents, and corresponding with beneficiaries.
• Review annual reports relating to IRA RMD requirements and facilitate customer mailings.
• Establish automatic payouts and monitor activity to ensure accuracy.
• Process daily Exception reports.
• Assist in the preparation and mailing of year-end IRA statements.
• Review yearly 1099 and 5498 tax forms for accuracy before they are filed with IRS.
• Answer Branch and customer questions regarding tax forms, reprint lost forms, and complete tax form corrections.
• Complete quality control tracking reports.
• Assist Customers and Branches with all aspects of IRAs and HSAs.
Competency/Skill Level
(The behaviors, knowledge, and motivations important to success in the job.)
• Written and Oral Communication skills
• Initiative
• Analytical ability
• Customer Service Orientation
• Problem Assessment and Solving skills
• Teamwork
• Practical Learning skills
• Attention to Detail/Organization skills
• Good working knowledge of Word and Excel
Key Behaviors
• Telephone Etiquette
• Services Internal/External Customer
• Completes Required Documentation
• Pays critical attention to detail
• Recognizes and follows through to resolve problems
• Personal Development
Bank Secrecy Act
• Maintain sufficient knowledge and understanding of the Bank Secrecy Act, Anti-Money Laundering/Anti-Terrorist Financing/PATRIOT Act and OFAC regulations
• To be able to fulfill applicable requirements and responsibilities under the bank’s related policies and programs.
Critical Job Elements
(Essential duties and responsibilities include the following. Other duties may be assigned. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.)
• Generally good working environment with little exposure to noise, extreme temperatures or other adverse factors.
• Above average physical effort of hand and eye coordination, and dexterity of hand and fingers to work efficiently and accurately.
• Above average mental effort consisting of complexity of decision making, concentration and memory.
• Above average verbal and written communication skills in order to process customer account maintenance accurately and convey to branches corrections, documentation required.
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