IRA Associate - Wealth Management

Commerce Trust Wealth Management Ira Associate

The main purpose of this job is to provide servicing and processing for time sensitive, high risk transactions for internal Private Client Advisors.

Essential Functions

• Build and maintain relationships with Private Client Advisors and ensure a timely, complete and accurate processing of IRA transactions
• Deliver support and resolutions that meet goals of the advisors
• Work closely with and provide customer service for Private Client Administrators to facilitate all distributions related to the IRA product offering
• Receive notification from the Private Client Administrators along with the information needed to facilitate IRA distributions; process normal and premature distributions, distributions due to death, internal transfer distributions, and transfers to an outside custodian
• Process state and federal withholding; ensure all compliance requirements have been met and all processing and coding is complete, timely, and accurate
• Ensure appropriate controls are in place for all processes related to the IRA product offering; responsible for identifying accounts with clients reaching their required minimum distribution
• Collaborate with the Private Client Advisors to mail Required Minimum Distribution (RMD) letters to the clients identified and reviewing reports to review accounts that have not satisfied their RMD; gather missing account information such as date of birth, date of death, and beneficiaries.
• Work closely with other members of the team to assist/backup during high volumes or absence
• Perform other duties as assigned

Knowledge, Skills & Abilities Required

• Basic knowledge of the IRA field
• Excellent customer service skills
• Ability to resolve problems and identify and drive process improvements
• Ability to thrive in a fast-paced team environment while maintaining a high level of accuracy
• Motivated and organized self-starter with strong attention to detail and the ability to manage multiple priorities
• Inquisitive, agile, and strong team player with excellent written, verbal, and interpersonal communication skills
• Ability to remain adaptable and resilient to all situations with an optimistic outlook and cast a positive shadow that is aligned with our culture and Core Values
• Intermediate level proficiency with Microsoft Word, Excel, Teams, and Outlook

Education & Experience

• Bachelor's degree in Finance or Accounting or equivalent combination of education and experience required
• 2+ years experience in finance or investment management preferred
• Experience with or knowledge around IRAs preferred
• Knowledge of Trust industry and terminology preferred
• Certified IRA Services professional with ABA (CISP), preferred