Ensure regulatory compliance of the Bank's Retirement Plans portfolio with applicable State and Federal regulations through daily supervision of the Retirement Services Department.
Oversee and supervise daily operations of the Retirement Services Department and delegate responsibilities to personnel, including oversight and daily management of IRA Nautilus Workflow of transaction documentation and distribution processing. Provide technical and operational support relating to all types of retirement plan transactions through practical applications, training, telephone support to internal and external customers. Oversee all required annual taxreporting to customers and the Internal Revenue Service; amend Retirement Trust documents to remain compliant with IRS' requirements and notify customers of changes that affect their plans. Responsible for business decisions to support regulatory and operational processing requirements, as well as signing authority for transaction approvals.
Develop, maintain, and enforce adequate internal processing procedures and controls to comply with established audit guidelines. Inform branch personnel of regulatory/policy changes that impact Retirement Plan operations.
Responsible for end-user application of Bank's core and ancillary systems as they relate to retirement account and deposit processing to ensure compliance with Banking and IRS regulatory requirements, such as Reg DD, Internal Revenue Code, etc. Work with internal departments to examine, validate and support implementation of annual Signature Core system updgrades.
Process Inherited IRA transactions in adherence with the Bank's standard New Account and KYC guidelines.
A Bachelor's degree or comparable professional training with a minimum of (8) years Retirement Planexperience. Retirement planexperience should include thorough regulatory and operational knowledge of Traditional, Roth and SEP-IRAs, with a strong knowledge of basic Qualified Retirement Plans.