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Banking Retirement Services Assistant

Verifies daily transactions processed by branch personnel. Assists Retirement Services Coordinator with tax year reporting. Assists with customer and employee questions as required

  • Salary
    To Be Determined
  • Location
    Iselin, NJ
  • Time
  • Experience
    Not Required
  • Industry
  • Travel
    <10% Travel

About Winston Resources, LLC

We are a full-service staffing firm dedicated to making the staffing process easier for our clients by delivering higher quality candidates and comprehensive staffing solutions. It is our hope that through our varied services, we can help our clients increase productivity and reduce staffing costs.

Job Location

Iselin, New Jersey United States
  • Details

  • Job Responsibilities

    • Maintains a strong knowledge of current rules and regulations affecting retirement accounts.
    • Reviews all retirement account transaction paperwork received from branch personnel for accuracy and completeness. Contacts branch personnel if documentation is missing.
    • Verifies daily processing of retirement account transactions to reports and system inquiries. Makes correcting entries as required.
    • Processes daily pending transactions as necessary, including Outgoing Transfers and customer requests.
    • Processes retirement account decedent account maintenance and transactions. Requires strong knowledge of Federal and State regulations, as well as bank policies regarding decedent matters.
    • Processes retirement account automatic distribution maintenance and transactions. Requires strong knowledge of required minimum distribution regulations. Involves calculating RMD’s for customers, setting up distribution records on computer system, verifying and mailing monthly, quarterly and annual distribution checks.
    • Performs daily IRA withholding and quarterly reporting of federal income tax withholding to accounting.
    • Researches customer account problems as necessary, including erroneous Form 1099-R and retirement account statement information. Issues corrected statements as required and performs necessary account transaction maintenance to ensure corrected information is submitted to the Internal Revenue Service.
    • Responds to customer and branch inquiries through both verbal and written communication.
    • Updates account records and processes name and address file maintenance, as necessary.
    • Provides primary back up for Retirement Services Coordinator.
    • Performs other duties which may be assigned.
  • Job Requirements

    • Education: Not Required
    • Employment: Not Applicable
    • A high school education and a minimum of (4) four years related experience working with Traditional and ROTH IRAs. Knowledge of SEPs and Qualified Plan rules a plus. Branch work experience should include Teller, CSR and Sr. Teller. Superior P.C. ability is required. Must be proficient in MS Windows and Microsoft Word; knowledge of Lotus beneficial. Must be able to communicate effectively, verbally and written, with employees and customers. Knowledge of office equipment is required.
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