What are the responsibilities and job description for the Senior Deposit Software Support Representative position at Sparks Group?
Job Summary
Sparks Group has partnered with a local credit union to identify a Certificates, IRA, and Tax Reporting Representative to provide daily support to members and the frontline staff regarding all Deposit Product Rates, Share Certificates, Individual Retirement Accounts (IRA), and Trust Accounts.
Responsibilities:
- Provides exceptional member service for products including Share Certificates, Individual Retirement Accounts (IRA), and Trust Accounts.
- Serves as the subject matter expert to frontline staff for all CD-related questions and independently answers all CD-related questions from frontline staff and members.
- The Certificates Representative identifies, answers, and resolves all deposit-related interest questions, not just CD account interest.
- Serves as a resource to frontline staff and other employees regarding information about Share Certificates, IRAs, and Trust Accounts.
- Proficiently processed transactions including opening new CDs, CD additions/withdrawals, closing CDs, Bump-up Authorizations, CD add/change ownership, and any other transactions associated with regular CD accounts.
- Proficiently utilizes the Early Withdrawal Penalties calculation and posts certificate early withdrawal penalties accurately.
- Communicates with members on all things related to CDs, IRAs, and Trust Accounts.
- Determines whether IRA transactions comply with the Internal Revenue Code (IRC) and refers to any questionable transactions to the Certificates, IRA, and Tax Reporting Senior and/or Manager.
- Proficiently distributes official checks for CD withdrawals and official check requests from the Records Department.
- Verifies daily reports such as new deposit products reports, Deceased IRA report, Rate Change Report, Escheat Reports, and other reports as needed.
Qualifications/Background Profile:
- High School Diploma and three years of related transaction channel processing experience required.
- Current and active knowledge of regulations and legal environment governing transaction channel processing.
- Requires someone with DNA experience, as well as some IRA/Ascensus knowledge and CD processing. Strong customer service skills, dependability, and flexibility are also key.
- Adapts well to changes in the work environment and ability to change approaches or methods to processes to best fit the situation or workflow process.
- Must become familiar with Trust Account applications and Certification of Trust, IRA software as a General User, and IRA account transactions such as contributions, distributions, and IRA Federal withholding.
- Must become familiar with W-8BEN, W-9, the 1099INT, 1099R, 1042-S, and 5498 tax reporting guidelines and processes.
- Must become familiar with the State of MD Escheat process.
- Has knowledge of and adheres to credit union policies and procedures and all regulations related to the Bank Secrecy Act, the USA PATRIOT Act, and OFAC.
