IRA / HSA Specialist

Description

POSITION SUMMARY:

This position assists in administration of the bank’s IRA and HSA portfolio to ensure regulatory compliance and positive customer experience. Provides overall Deposit Support for both external/internal customers. Assist in the training of new account representatives, as well as the continuing development of employees on products and services. 

OBJECTIVES OF THIS ROLE:

• Review IRA and HSA account documents such as transfers, distributions, rollovers, conversions, death claims, contributions, and closures in accordance with government regulations and bank policy 
• Assist in resolving customer issues by responding competently and consistently to all requests  
• Provide exceptional internal/external customer service with basic knowledge of retail products, services, and applications  

RESPONSIBILITIES:

• Monitor reports and fix processing errors as they arise
• Facilitate the Annual Notice of Withholding, Annual SIMPLE Plan Summary Review, and RMD notification mailings
• Represent the bank in presenting HSA opportunities and making employee presentations as needed
• Assist team members when needed with daily back-office Deposit Services functions such as mailing maturity notices and new account document review 
• Review and reconcile General Ledger account 238501 and submit for approval
• Responsible for keeping up to date with related changes to IRA and HSA processing 
• Maintain the IRA and HSA account manuals to assist in training and to serve as reference at the New Accounts desks
• Serve as CDARS backup 
• Serve as a backup for BPM (Business Process Manager) Administrator 
• Assist with on-going training to existing and new deposit account representatives as needed 
• Assist in overall bank-wide training sessions and employee seminars
• Comply and satisfactorily pass tests for bank policy and regulatory compliance that apply to position
• Maintain customer and bank confidentiality 

Requirements

 QUALIFICATIONS:

• Associate's degree preferred or an equivalent of 3-5 years of banking experience.
• 3 – 5 years of experience in bank operations and working knowledge of reporting requirements and key control requirements that directly relate to deposit administration 
• Experience with financial institution operating policies and procedures, especially regulatory and internal control requirements typically demonstrated with 2 – years of experience
• Previous experience working with banking software platforms 

ADDITIONAL REQUIREMENTS: Certificates and Licenses

• Valid Driver’s License

COMPLIANCE:

• As generally applicable to F&M Bank and commensurate with these job functions, this job role includes accountabilities for following Bank policies and related procedures, as well as regulatory requirements involving federal and state laws, regulations, and related guidance.
• Compliance with Bank Secrecy Act (BSA), including accurate completion of Currency Transaction Reports (CTR) when applicable, Anti-Money Laundering Act (AML), Office of Foreign Asset Control (OFAC) and the USA PATRIOT Act. Adhere to Customer Identification, Customer Due Diligence and reporting of suspicious activities to the BSA Department.

NON-EXEMPT/HOURLY COMPETENCIES:

• Job Knowledge: Understands duties and responsibilities, possesses necessary job knowledge and technical skills, maintains job knowledge current.
• Productivity: Manages a fair workload, volunteers for additional work, prioritizes tasks, develops good work procedures, manages time well, and handles information flow.
• Attendance: Employee is expected to adhere to the attendance and break policy and communicate with your supervisor about anticipated time off or modifications to break times.