IRA Administrator

Job Details

Job Description:
Role

The IRA Administrator is responsible for administration of Capitol Federal's retirement plan products. This includes constant interaction with existing, new and prospective customers. Ensures compliance with the bank's policies and applicable laws by reviewing reports or forms and researching problems. Assists branch staff with complex transactions or questions. Makes any form changes and reviews all program changes. Processes IRA transactions for bank customers. Reviews and processes IRS reporting including corrections for IRA accounts. Assist in the organization and delivery of IRA training.

Essential Duties & Responsibilities

• Processes deceased IRA customers and beneficiaries on a daily basis. This includes customer and non customer correspondence, setting up accounts and processing payouts.
• Review all documents received daily from branch personnel on ant IRA transactions. Pursues any additional information or paperwork from branch employee if possible. May recover missing documents directly from customer regarding transactions if employee is unable to comply.
• Handles daily branch questions and customer inquiries. May require research and correspondence with branch personnel and customers.
• Reviews all reports on IRA customers daily, weekly or monthly. Includes maintenance of accounts, data entry, placing holds on accounts, invalid contribution/distribution codes, prohibited transactions, rejected auto payments and researching problems.
• Annually reviews and processes IRS reporting including corrections. Peak times include November, December, January and April.
• Assist in the organization and delivery of IRA training with Regional Trainers, branch staff, and IRA Specialists.
• Processes annual RMD mailings to all IRA customers. Receives the mail report from Information Systems.
• Responsible for maintaining accuracy of report Calculates any distributions. Informs customers of distribution options according to IRS Regulations.
• Perform other duties as assigned.
• Participate in proactive team efforts to achieve departmental and company goals.
• Must comply with current applicable laws, regulations and bank policies and procedures. Comply with all safety policies, practices and procedures. Report all unsafe activities to supervisor and/or Human Resources.

Experience

Five to eight years of similar or related experience, including preparatory experience.

Education/Certifications/Licenses

A high school degree or equivalent. Bachelor's degree, preferred. CISP certification is required. Attends continuing education or professional certification seminars on IRA or related information. Valid driver's license is required.

Skills

• Knowledge IRA's or similar accounts, and an understanding of the various Federal and State regulations and requirements concerning these accounts. Knowledge of distribution calculations for retirement accounts.
• A significant level of trust and diplomacy is required to be an effective subject matter expert in the position. In-depth dialogues, conversations and explanations with customers, direct and indirect reports and outside vendors of a sensitive and/or highly confidential nature is a normal part of the day-to-day experience. Communications can involve motivating, influencing, educating and/or advising others on matters of significance.

CapFed is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees.

 Capitol Federal Savings Bank

 06/15/2024

 Topeka,KS