IRA Associate - Wealth Management

Commerce Trust; Kansas City (MO); On-site; USD 45,000 - 51,000; Full time

Benefits offered by this job

Health insurance

Dental insurance

Vision insurance

401(k)

Life insurance

Paid vacation

Paid personal time

Career development

Education assistance

Job summary

Commerce Trust is seeking an IRA Associate to assist Private Client Advisors with time-sensitive, high-risk IRA transactions and distributions. You will ensure accurate processing, compliance, and timely client service while coordinating with Private Client Administrators.

Based in Kansas City, MO, this full-time on-site role offers growth in wealth management and a collaborative team environment. The position emphasizes attention to detail and accuracy in all IRA-related activities.

Qualifications

• Bachelor’s degree in Finance or Accounting or equivalent
• 2+ years experience in finance or investment management preferred
• Knowledge of IRAs preferred
• Knowledge of Trust industry terminology preferred
• CISP preferred

Responsibilities

• Build and maintain relationships with Private Client Advisors and ensure timely, complete and accurate processing of IRA transactions.
• Deliver support and resolutions that meet goals of the advisors.
• Work closely with Private Client Administrators to facilitate all distributions related to the IRA product offering.
• Receive notification from Private Client Administrators along with information needed to facilitate IRA distributions; process normal and premature distributions, distributions due to death, internal transfer distributions, and transfers to an outside custodian.
• Process state and federal withholding; ensure all compliance requirements have been met and all processing and coding is complete, timely, and accurate.
• Ensure appropriate controls are in place for all processes related to the IRA product offering; identify accounts with clients reaching their required minimum distribution.
• Collaborate with Private Client Advisors to mail Required Minimum Distribution letters and review reports for accounts not meeting RMD; gather missing info like date of birth, date of death, beneficiaries.
• Work with team to assist/backup during high volumes or absence.
• Perform other duties as assigned.

Skills

IRA knowledge

Customer service

Problem solving

Attention to detail

Time management

Communication skills

Adaptability

MS Office

Education

Bachelor's degree in Finance or Accounting

CISP certification

Tools

Microsoft Word

Excel

Teams

Outlook

Job description

About Working At Commerce

Building a career here is more than just steps on a ladder. It’s about helping people find financial safety and success, helping businesses thrive, and making sure people and their money are taken care of. And our commitment doesn’t stop there. Our culture is about our people, the ones in our communities and the ones that work with us. Here, you’ll find opportunities to grow and learn, to connect with others, and build relationships with the people around you. You’ll have the space and resources to grow into the best version of yourself. Because our number one investment is you.

Compensation Range

Hourly: $21.40 - $24.50 (Amount based on relevant experience, skills, and competencies.)

For more than a century, Commerce Trust has been a leading provider of wealth management services including financial planning, estate and tax planning, investment management, private banking and trust administration services. Our approach to wealth management means assembling a team of seasoned wealth management professionals across disciplines who collaborate to ensure each client’s financial journey is uniquely crafted for their goals. Commerce Trust is a division of Commerce Bank.

About This Job

The main purpose of this job is to provide servicing and processing for time sensitive, high risk transactions for internal Private Client Advisors.

Essential Functions

• Build and maintain relationships with Private Client Advisors and ensure a timely, complete and accurate processing of IRA transactions.
• Deliver support and resolutions that meet goals of the advisors.
• Work closely with and provide customer service for Private Client Administrators to facilitate all distributions related to the IRA product offering.
• Receive notification from the Private Client Administrators along with the information needed to facilitate IRA distributions; process normal and premature distributions, distributions due to death, internal transfer distributions, and transfers to an outside custodian.
• Process state and federal withholding; ensure all compliance requirements have been met and all processing and coding is complete, timely, and accurate.
• Ensure appropriate controls are in place for all processes related to the IRA product offering; responsible for identifying accounts with clients reaching their required minimum distribution.
• Collaborate with the Private Client Advisors to mail Required Minimum Distribution (RMD) letters to the clients identified and reviewing reports to review accounts that have not satisfied their RMD; gather missing account information such as date of birth, date of death, and beneficiaries.
• Work closely with other members of the team to assist/backup during high volumes or absence.
• Perform other duties as assigned.

Knowledge, Skills & Abilities Required

• Basic knowledge of the IRA field.
• Excellent customer service skills.
• Ability to resolve problems and identify and drive process improvements.
• Ability to thrive in a fast-paced team environment while maintaining a high level of accuracy.
• Motivated and organized self-starter with strong attention to detail and the ability to manage multiple priorities.
• Inquisitive, agile, and strong team player with excellent written, verbal, and interpersonal communication skills.
• Ability to remain adaptable and resilient to all situations with an optimistic outlook and cast a positive shadow that is aligned with our culture and Core Values.
• Intermediate level proficiency with Microsoft Word, Excel, Teams, and Outlook.

Education & Experience

• Bachelor’s degree in Finance or Accounting or equivalent combination of education and experience required.
• 2+ years experience in finance or investment management preferred.
• Experience with or knowledge around IRAs preferred.
• Knowledge of Trust industry and terminology preferred.
• Certified IRA Services professional with ABA (CISP), preferred.

For individuals applying, assigned and/or hired to work in areas with pay transparency requirements, Commerce is required by law to include a reasonable estimate of the compensation range for some roles. This compensation range is for the Wealth Management IRA Associate job and contemplates a wide range of factors that are considered in making compensation decisions, including but not limited to location, skill sets, education, relevant experience and training, licensure and certifications, and other business and organizational needs. The disclosed range estimate has not been adjusted for any applicable differentials (geographic, bilingual, or shift) that could be associated with the position or where it is filled. At Commerce, compensation decisions are dependent on the facts and circumstances of each situation. A reasonable estimate of the current base pay is $21.40 to $24.50 per hour.

Benefits

The candidate selected for this position may be eligible for the following employment benefits: employer sponsored health, dental, and vision insurance, 401(k), life insurance, paid vacation, and paid personal time. In addition, we offer career development, education assistance, and voluntary supplemental benefits.

Location and Time Type

Location: 922 Walnut St, Kansas City, Missouri 64106

Time Type: Full time