IRA Specialist

Page Mechanical Group, Inc.; Burbank (CA); On-site; USD 55,000 - 75,000; Full time

Job summary

Page Mechanical Group, Inc. is seeking an IRA Specialist to create and maintain Retirement Account products and Share Certificates, ensuring IRA regulation compliance and staff training to support members.

The role oversees reporting to government systems, manages third-party vendor platforms, and escalates risks as needed while advising members on IRA and HSA products.

Qualifications

• High School Diploma or equivalent. Bachelor's degree preferred.
• Certified IRA Professional Designation required within 12 months of hire date.
• 3 years’ experience working directly with IRA and investment products required.
• Experience working in a credit union.

Responsibilities

• Attends IRA and HSA University and applicable continuing education to maintain certification and stay current on regulations.
• Develops and maintains updated procedures on Retirement Accounts and Share Certificates.
• Reports assets to government systems such as Social Security and Medicaid.
• Oversees IRS Withholding and Information Return reporting requirements and related notices.
• Ensures IRS Required Minimum Distribution notifications, distributions, and reporting for the IRA portfolio; administers dividend rate changes for jumbo certificates and age-related bonuses.
• Establishes new IRA plans, deposits, and processes all IRA transactions, including transfers.
• Handles Transfers, Distributions, Rollovers, Conversions, and Closures per regulations and policies.
• Educates members on investment rates, deposit options, and IRA/HSA products.
• Oversees complex IRA and HSA transactions requiring Certified IRA Representative knowledge.
• Ensures departmental policies and retention requirements are met.
• Manages relationship with the Credit Union’s third-party IRA Administrator.

Job description

Job Summary

The IRA Specialist is responsible for creating and maintaining all Retirement Account Products and Share Certificates. Maintains compliance with all IRA regulations and provides IRA training for Credit Union staff in order to support Credit Union members. Supports all compliance related activities pertaining to Retirement Accounts, and managing the third party vendor platform. Identifies risks and escalates as necessary.

Responsibilities

• Attends the IRA and HSA University and applicable continuing education activities in order to maintain certification and stay abreast of all regulations.
• Develops and maintains updated procedures on Retirement Accounts and Share Certificates.
• Responsible for reporting assets to government systems; such as Social Security and Medicaid.
• Oversees the review, reporting, and notification requirements relating to Internal Revenue Service Withholding and Information Return reporting.
• Ensures that IRA Required Minimum Distribution related notifications, distributions, and reporting requirements are met for the Credit Union’s IRA portfolio. Administers dividend rate changes for jumbo certificates and for member age-related bonuses.
• Establishes new IRA plans deposit products and processes all IRA transactions, including incoming and outgoing transfers.
• Transfers, Distributions, Rollovers, Conversions, and Closures in accordance with government regulations and Credit Union policies.
• Consults and educates members regarding investment rates, deposit product options, and IRA and HSA products.
• Oversees the review and completion of complex IRA and HSA related transactional activities requiring knowledge base of a Certified IRA Representative.
• Ensures all departmental policies, procedures, and requirements for the IRA Department are met.
• Ensures Records Retention and other applicable compliance related activities are adhered to.
• Oversees relationship with the Credit Union's third party vendor IRA Administrator.

Qualifications

• High School Diploma or equivalent. Bachelor's degree preferred.
• Certified IRA Professional Designation required within 12 months of
• hire date.
• 3 years’ experience working directly with IRA and investment products required.
• Experience working in a credit union