Brokerage Operations IRA Specialist

Truist Financial - Richmond, VA

Part-time,Full-time - Mid Level

Richmond, VA

10,001+ employees

Credit Intermediation and Related Activities

About the position

The Brokerage Operations IRA Specialist at Truist Bank is responsible for processing all aspects related to Individual Retirement Accounts (IRAs), including Traditional, Roth, Rollover, SEP, SIMPLE, Coverdell, and Beneficiary IRAs. This role involves ensuring compliance with IRA regulatory rules and regulations while providing high-quality client service. The specialist will handle various transactions such as distributions, contributions, transfers, and beneficiary claims, ensuring all documentation is accurate and complete.

Responsibilities

• Process IRA distributions, ensuring proper documentation and appropriate tax reporting codes are used.
• Review IRA contributions for compliance with IRS regulations and ensure correct transaction codes are applied.
• Handle IRA transfers and rollovers, ensuring proper documentation and compliance with transaction types.
• Process deceased account transactions, including reviewing death certificates and coordinating with beneficiaries for payouts.
• Manage complex IRA transactions such as Roth conversions and excess contribution removals, ensuring accurate calculations and compliance.
• Review and process new account applications and beneficiary change requests.
• Interpret Power of Attorney requests for IRA accounts to ensure compliance with beneficiary actions.
• Ensure all IRA transactions have proper transaction codes for tax reporting and process tax document corrections as needed.
• Assist clients and front office with inquiries and requests for information regarding IRA accounts.
• Stay knowledgeable about IRA rules and regulations.

Requirements

• Bachelor's degree or equivalent education, training, and work-related experience.
• High-quality client service skills.
• Ability to manage multiple assignments and work under pressure in a fast-paced environment.
• Attention to detail with a focus on accuracy and quality.
• Strong organizational, verbal, and written communication skills.
• Proficiency in Microsoft Office software products.

Nice-to-haves

• One year of brokerage industry experience.

Benefits

• AD&D insurance
• Paid holidays
• Dental insurance
• 401(k)
• Vision insurance
• Life insurance