Exchange Specialist

Fidelity Cooperative Bank; Leominster (MA); On-site; USD 60,000 - 85,000; Full time

Job summary

Fidelity Cooperative Bank is seeking a detail-oriented professional to coordinate and oversee 1031 Exchange transactions from start to finish, interacting with clients and their consultants to answer questions and customize documents.

The role supports bank operations, reviews files, enters data, prepares final reports, and tracks deadlines, ensuring compliance with IRC 1031 regulations and related case law.

Qualifications

• Two years relevant experience and/or training, or equivalent combination of education and experience.
• Experience as a real estate paralegal, escrow officer or in accounting or law preferred.
• Excellent customer service and support to individual and corporate clients.

Responsibilities

• Prepares, implements, and coordinates editing of template-driven production documents for 1031 Exchange transactions.
• Understands the code and works with the Exchangor to ensure IRC compliance.
• Supports office functions by reviewing files, entering data, binding brochures and reports.
• Interacts with potential clients, clients, and consultants to answer questions on exchanges.
• Tracks time-sensitive exchange processes and informs clients and advisors of deadlines.
• Maintains accurate and complete file on the exchange including communications and documents.
• Coordinates inflows and outflows of Exchangor funds with Bank Operations.
• Assists in final accounting of the exchange.

Skills

1031 Exchange

Client communication

Document editing

Time management

Job description

Summary

To coordinate and oversee the exchange from beginning to end through interaction with potential and current clients and their consultants by answering questions, customizing and reviewing documents, and ensuring the safe movement of funds throughout the exchange.

Salary Grade: 16

Essential Job Functions & Responsibilities

• Prepares, implements, and coordinates the editing of template-driven production documents for 1031 Exchange transactions.
• Understands the code and works with the Exchangor to encourage strict compliance. with the requirements of IRC
• 1031, the applicable regulations and case law.
• Supports other office functions by reviewing files, entering data, binding brochures and reports and preparing documents for final reports.
• Interacts with potential clients, clients, and their consultants (CPA’s, attorneys, etc.) to answer questions on potential, upcoming, and ongoing exchanges.
• Track time sensitive exchange processes and inform the client and his advisors relative to exchange deadlines.
• Maintains an accurate and complete file on the exchange including all related communications, documents, and instruments.
• Works with Fidelity Bank Operations to coordinate inflows and outflows of Exchangor funds as they relate to the transaction.
• Assists in the completion of final accounting of the exchange.
• Other duties as may be assigned.

Knowledge, Skills & Abilities

• Two years relevant experience and/or training, or equivalent combination of education and experience
• Experience as a real estate paralegal, escrow officer or in the area of accounting or law strongly preferred.
• Must be able to provide exceptional customer service and support to individual and corporate clients
• Thorough knowledge of Windows-based business software applications, including Word, Exchange, and Excel
• Develop the same thorough knowledge of any new business database and/or software applications that the firm may adopt and incorporate
• Ability to work independently on assigned tasks as well as to accept directions on given assignments; able to organize and manage multiple priorities.
• Excellent verbal and written communication skills.
• Familiarity with database management
• Able to work collaboratively with the office staff and exhibit strong teamwork