Job Summary
As a member of the Custody Asset Management and Control group reporting to the VP, the IRA Service Representative will work with our Account Administration team to facilitate termination of inactive defined contribution retirement plans and transition participants into IRAs. The IRA Service Representative will also support Mid Atlantic’s involuntary rollover product.
Responsibilities
- Work with our Admin team to identify inactive and potentially abandoned plans
- Locate and update plan and participant records in collaboration with the recordkeeper and Admin team
- Perform participant searches using LexisNexis and third party search engines
- Calculate benefit payments to participants and beneficiaries
- Communicate payment rights and options to participants via written/oral correspondence
- Distribute necessary required paperwork
- Assist with the distribution of benefits
- Help prepare policy and procedures for the IRA call center and IRA processing
Skills/Abilities
- Experience in serving the retirement industry through record keeping, administration, custody, or equivalent services
- Ideally possess the IRA Specialist certification and understand tax rules, escheatment, beneficiary rules, and other IRA regulations
- Able to triage participant calls, and offer a high level of customer service
- Ability to manage multiple tasks simultaneously
- Experience in writing policies and procedures
- Represent the company and its services professionally and with polish
- Be considered by your co-workers and clients as an industry asset
- Act in a consultative fashion
- Excellent math and analytical skills including use of Excel
- Work with other team members in solving complex customer requests
- Review and monitor paperwork
- Offer creative ways to address needs
- Ability to conduct web based demos
- Ability to work as a team to get all jobs completed on schedule
- Thrive in a fast-paced environment