IRA/HSA Administrator

Overview

The IRA/HSA Administrator is primarily responsible for setting the tone and pace of the IRA/HSA Department. They are responsible for overseeing that the IRA/HSA Team carries out the strategic plan developed each year by the department. They act as a liaison and subject matter expert of the various products, processes and systems. Additional responsibilities include performing operational process support and customer support duties relating to Individual Retirement Account (IRA) and Health Savings Account (HSA) products and services; maintain current Internal Revenue Service (IRS) compliance knowledge related to products; provide support to sales and customer service personnel; have and maintain an advanced level of Traditional, Roth IRA and HSA knowledge; maintain a working knowledge of the bank core system; maintain a working knowledge of the three HSA platforms (Administrative, Employer, and Consumer); review and process documents received from Customer Service personnel. The IRA/HSA Administrator works with and reports to the Deposit Operations Manager.

Responsibilities

General Functions

• Reviews new Individual Retirement Accounts (IRA) and Health Savings Accounts (HSA); maintenance on existing accounts; and transactions daily, to ensure documentation and codes follow related guidelines
• Process IRA distribution (early, normal, RMD, death), contribution, rollovers, conversions, transfers, excesses and re-characterizations into and between accounts in an accurate and timely manner and in accordance with IRS regulations; follow up on open issues until resolved
• Maintains technical knowledge related to IRA/HSA regulations and guidelines by attending seminars and webinars, reviewing professional publications. Must be able to understand the impact of the changes in the rules and regulations upon IRA and HSA processing, tax reporting and back-office system requirements
• Participate in the year end and mid-year IRA tax reporting process to ensure the accurate and timely distribution of tax forms to customers as well as reporting of client information to the IRS; Identify and communicate any differences follow through to resolution; issue corrected tax documents if necessary.
• Responsible for communicating and implementing regulation changes or updates into the Bank’s processes and procedure.
• Responsible for carrying out any amendment mailings or other regulatory compliance mailings. This includes monthly HSA Statements.
• Ensure daily transactional funding files are processed correctly and timely. Work with departments to resolve any outstanding issues.
• Perform IRA, Federal Withholding and State Withholding General Ledger reconciliations related to products. Balance HSA GLs to data reports provided from WEX.
• Prepare ACH and wire files to ensure monies are sent to the proper accounts in an accurate and timely manner. Generate checks from the HSA platform.
• Attend regular HSA vendor meetings to discuss topics including but not limited to, outstanding tickets and system updates and testing.
• Prepare appropriate documents for imaging/archive.
• Maintain procedural documentation for products.
• Communicate with assigned back-up to ensure consistency in product.
• Perform other duties as necessary
  
  

Support Activities

• Provides product support and responds to Retail inquires on new account opening and existing account maintenance.
• Communicate system and compliance issues with Customer Service personnel.
• Interact directly with IRA and HSA Owners, answering questions and offer guidance regarding IRA and HSA accounts as well as the regulations surrounding them. Provide technical and operational assistance.
• Interact directly with Employer Groups and their HR departments to set up Employer Groups, answer funding and file transfer questions.
• Assist Call Center and Branch staff with navigating all 3 HSA portals.
• Develop and deploy IRA and HSA branch training that includes the basics of IRAs and HSAs, IRS regulations and tax implications, completing account opening and maintenance documents, and system training.
• Work with Information Technology team to support and test any necessary system updates or changes.
• Work with Marketing to develop sales tools.
• Assist in product testing.
  
  

Qualifications

• An associate’s degree in business related field or equivalent experience required.
• Minimum four years of IRA and HSA experience in handling documentation, codes and IRS compliance preferred
• Certified IRA Services Professional (CISP) and Certified HSA Services Professional (CHSP) preferred
• Minimal ERISA knowledge or job specific technical knowledge preferred.
• Proficient mathematical and accounting skills.
• Excellent verbal and written communication skills.
• Demonstrated organizational and problem-solving skills.
• Moderate keyboarding and demonstrated ability to adapt to various computer programs including Microsoft Office software applications
• Demonstrates ability to document detailed procedures that are clear, concise and easy to understand. 
• Detail Oriented Vs. Big Picture- Generally focuses and considers details on specific tasks while aware of the identified implications to the entire process associated with the task.
• Ability to work occasional evenings and weekends
• Ability to work independently as a self-starter, and within a team environment
• Demonstrates a commitment to accuracy and quality while meeting goals and deadlines
• Ability to deliver outstanding client support
• Ability to maintain a positive attitude when working through challenges
  
  

Benefits

• Medical
• Dental
• Vision
• 401(k) Match
• Profit Sharing
• Paid Time Off
• 11 Holidays
• Tuition Reimbursement
• Free Parking throughout Tompkins Community Bank
• Employee Referrals
  
  

EEO Statement

Tompkins is committed to a policy of Equal Employment Opportunity ("EEO") with respect to all team members and applicants for employment and a work environment free from discrimination (including unlawful harassment) based on race, color, religion, sex, sexual orientation, transgender status, gender non-conformity, gender identity, gender expression, national origin, age, marital status, domestic violence victim status, disability, predisposing genetic characteristics, military or veteran status or status in any group protected by federal, state, or local law.

For more information, please click here

#communitybank

Pay Range

USD $30.00 - USD $34.00 /Hr.