What are the responsibilities and job description for the Senior Specialty Accounts Representative position at Commonwealth CU?
Our goal is to be an Employer of Choice, and it takes all of us to achieve this. That's why all Commonwealth Credit Union team members are expected to live our Team 1 culture in all facets of their position. This includes our commitment to Diversity, Equity, Inclusion, Accessibility, and Belonging.
At Commonwealth Credit union, we are united in our Common Purpose to Better Lives through OUR PASSION to Serve. This includes everyone, from our team members to the people in the communities we serve. That’s the emphasis of our Team 1 Culture. Together Everyone Achieves More. We believe We Better Lives when we cultivate diversity, promote equity, foster inclusion, are intentional about accessibility, and provide an environment where everyone feels like they belong. That’s an Extraordinary Experience. That’s Bettering Lives. That’s Team 1.
Our Senior Specialty Accounts Representative takes care of accounts requiring specialized compliance and IRS reporting, including Deceased, Trust, IRA, HSA, Estate, SSI, Court Appointed, VA, Guardianship, and KYUTMA account. They also help develop and implement training for operations team members on these accounts.
The responsibilities include member onboarding and relationship-building services, discussing options regarding estate planning and updating account information, as well as wealth management referrals to LPL Financials. This position provides support to members with deceased account processing, assists with IRA and certificate portfolios, fulfills related reporting requirements, and ensures adherence to rules and regulatory compliance.
The Senior Specialty Accounts Representative also assists staff with the proper documentation and completion of IRA documents and deceased account processing. In collaboration with our Enterprise Risk Management team, they conduct regular audits on specialty accounts.
The duties and responsibilities of a Senior Specialty Accounts Representative include, but are not limited to:
- Processing monthly reports and compiling data for board reports, ensuring accuracy and timeliness.
- Collaborating effectively with the Specialty Accounts team to support the completion of annual tax forms, audits, and data verification on accounts and required tax documentation. This includes calculating inherited IRAs, preparing IRA Required Minimum Distribution (RMD) letters, and drafting Inherited IRA life expectancy letters
- Demonstrating an in-depth understanding of specialty accounts, court probate processes, governing regulations, and both federal and state credit union laws.
- Actively engaging in ongoing training and development, participating in specialized courses as needed or required to enhance knowledge of industry best practices and regulatory changes.
- Working closely with members and various departments within the credit union, including Internal Audit, Compliance, Legal, Member Solutions, Operations, Lending and Electronic Payments, to ensure seamless support and compliance.
- Providing frontline staff with assistance on specialty account inquiries and issues through phone, email, or other digital means, ensuring accurate and timely resolutions.
Travel to all branch locations may be required.
