Job description

The Deposit/Wealth Management Specialist provides support for the Wealth Management Team. Performs basic investment service for members. Responsible for building member relationships that create loyalty and meaningful staff relationships. This position is also responsible for supporting the Wealth Management department through certificates, IRAs, and HSA account opening and administration. Leading IRA/HSA program compliance and furthering deposit growth. Provides exceptional service to internal and external members resulting in members for a lifetime.

ESSENTIAL DUTIES AND RESPONSIBILTIES: Must effectively carry out the essential duties and responsibilities of this position in a manner that consistently demonstrates Sun Federal’s mission and core values in a positive manner. Other duties may be assigned.

1. Administrative Support

a) Schedules and confirms upcoming member appointments. Prepares paperwork/eDocuments, submits completed paperwork/eDocuments and follows up for accuracy and processing. Responds to service requests from LPL. Prepares appointment performance reports.

b) Maintains Financial Advisor/Wealth Management files. Maintains member database via Sun Federal, LPL software. Enters new member information, updating meetings, contact frequency, member rating/segments and runs various reports.

c) Executes service orders from members including asset withdrawals, beneficiary designations, address changes, and statement reproduction.

d) Makes outbound sales/service calls for maturing certificates, top depositors, and other sales/service lists.

e) Distributes Wealth Management client newsletters, new member letters and birthday/annual review cards.

f) Priority back up for management reporting.

g) Contributes to the success of member events.

h) Maintains and updates referral database.

i) Identifies member accounts reaching required minimum distribution (RMD) and reviews accounts that have not satisfied their RMD.

2. IRA Program

a) Administration

1. Ensures appropriate controls are in place for all processes and optimal usage for Sun Federal’s IRA products including Traditional, Roth, SEP, and Coverdell Education Savings.

2. Identifies member accounts reaching RMD and reviews accounts that have not satisfied their RMD.

3. Maintains all IRA files. Reviews account documentation and provides follow-up as needed. Gathers missing member information (i.e. date of birth, date of death, beneficiaries).

4. Educates members on insurance provided by NCUA (NCUSIF) and Excess Share Insurance (ESI).

5. Understands certificate structuring, early withdrawal penalties and all credit union disclosure details to adequately manage each member situation.

6. Responsible for accurate tax coding and reporting for 1099-R and 5498 forms. Identifies prohibited transactions as defined by IRS and resolves issues in a timely manner.

7. Reconciles general ledgers, prepares reports, and conducts audits of IRAs opened throughout branch network to ensure accuracy and compliance.

8. Stays current on IRA business trends and changes in laws through training and research. Ensures all reporting functions and transactions are in compliance with established SFCU policies, procedures, legal standards and government regulations.

9. Actively provides training and support to branch IRA Specialist ensuring proper branch coverage for each location.

10. Actively initiates member engagement for certificate maturities to increase deposit retention.

11. Retains and maintains IRA certification and education with program vendor by attending training sessions, webinars, and testing.

b) Distributions

1. Facilitates all IRA distributions from credit union staff, IRA owners or beneficiaries.

2. Processes normal or premature distributions due to disability, death, internal transfer distributions or transfers to an outside custodian.

3. Researches and resolves tax reporting errors when they occur.

c) Member Service

1. Builds and maintains member relationships and ensures timely, complete, and accurate processing of IRA transactions credit union wide.

2. Makes referrals using CML skills to Sun Federal’s Financial Advisors or presents options to members while not providing tax guidance.

3. Recognizes cross-selling opportunities focusing on MVP and lending and makes referrals to Wealth Management Advisors, Branch Network, Business Development and Business Services, etc.

4. HSA Program Administration

a) Performs account maintenance, conducts audits and prepares reports.

b) Maintains HSA files. Reviews account documentation and provides follow-up as needed.

c) Provides staff training.

d) Provides SEG groups with superior member service in establishing HSA’s for their employees as well as ongoing assistance with utilizing this product as it serves with the insurance offered by their company.

e) Stays current on HSA business trends and changes in laws through training and research. Ensures all reporting functions and transactions are in compliance with established SFCU policies, procedures, legal standards and government regulations.

f) Retains and maintains H.S.A. certification and education with program vendor by attending training sessions, webinars, and testing.

5. Credit Union Staff Relations

a) Fully embraces Sun Federal’s culture and builds strong working relationships and trust with employees.

b) Creates strong relationships with the branches working together to meet mutual SFCU goals.

c) Conducts regular employee training and participates at regular branch meetings/functions.

d) Leads/encourages employees to refer members to the Wealth Management team.

6. Promote Individual and Credit Union Success

a) Supports Sun Federal’s mission, vision, and values. Makes a positive contribution to business plan objectives and goals.

b) Understands and adheres to all policies, procedures, and regulations.

c) Responsible for personal development through training, collaboration, and teamwork.

d) Demonstrates professionalism in dress, tone, flexibility, and communication.

e) Consistently acts as part of a cohesive team, demonstrating excellent interpersonal skills and the ability to interact positively with other employees. Maintains open and respectful communication with other departments. Handles conflict directly and discreetly.

f) Takes ownership of job duties as assigned or needed. Participates in assigned projects and training in a meaningful and positive way.

g) Recommends and develops process improvements and procedures to enhance productivity and improve service.

7. Performance Measurements

a) Accounts are opened, monitored, serviced, and maintained in accordance with established policies and procedures.

b) Document preparation is accurate, neat, and timely.

c) Member files are complete, well-documented and filed appropriately.

d) Audit and examination results reflect an organized, thorough, and disciplined process.

e) Commitment towards additional development, continued education, and pursuit of training opportunities.

f) Demonstrated analytical thinking skills, attention to detail, and financial acumen.

g) The Director of Wealth Management is appropriately and proactively informed of activities and of significant problems. Recommendations for improvement and effectiveness are also provided.

Expectations for Employees

1. Shows professionalism, empathy, and respect in all interactions with members, internal and external.

2. Takes personal responsibility to actively listen to the members, understand their needs and take initiative to help the member as priority.

3. Offer team members assistance when necessary to help develop a fully competent and cohesive workforce.

4. Maintains knowledge of regulations appropriate for position (i.e. Bank Secrecy Act, OFAC, CFPB including regulations Z (Truth-in-Lending), C (HMDA), etc.) and attends all training as it relates to position related regulations.

5. Adheres to Sun Federal’s security procedures and safeguards member information.

Qualification Requirements: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of knowledge, skill and/or ability required. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions. The individual must be able to successfully pass background checks.

EDUCATION/CERTIFICATION: Associates degree in Business, Professional Sales or related field or equivalent work experience. Certified IRA Specialist (CIS) designation required; must maintain certification through scheduled training.

REQUIRED KNOWLEDGE: Thorough knowledge of all Sun Federal products and services and applicable policies and procedures. Expert on credit union’s IRA software and ability to instruct others to use IRA Direct Express. This role also requires excellent attention to detail with a broad range of industry knowledge.

EXPERIENCE REQUIRED: Three to five years’ IRA experience in a financial institution. Broad range of industry knowledge (including Modified Adjusted Gross Income (MAGI) limits) plus an in-depth understanding of Sun Federal’s services required.

SKILLS/ABILITIES: Demonstrated ability to provide remarkable members service and staff support. Demonstrated ability to work under and meet deadlines; and work with multiple priorities. Strong organizational and interpersonal skills. Ability to gather, analyze data and provide sound recommendations. Proven teamwork skills. Demonstrated analytical, accuracy and problem-solving skills. Strong interpersonal and administrative skills.

PHYSICAL ACTIVITIES AND REQUIREMENTS

TALKING: Especially where one must frequently convey visionary and/or detailed or important information accurately.

AVERAGE HEARING: Able to hear average or normal conversations and receive ordinary information.

REPETITIVE MOTION: Movements frequently and regularly required using the wrists, hands, and/or fingers.

AVERAGE VISUAL ABILITIES: Average, ordinary visual acuity necessary to prepare or inspect documents or products or operate machinery.

PHYSICAL STRENGTH: Occasional sitting but requires the ability to walk and stand to make presentations and visit members/potential members. Occasionally lifting, carrying, moving items weighing up to 50 pounds.

WORKING CONDITIONS Frequent local travel and occasional out of town travel required. No hazardous or significantly unpleasant conditions (such as in a typical office).

MENTAL ACTIVITIES AND REQUIREMENTS

Reasoning Ability: Ability to apply logical or scientific thinking to define problems, collect data, establish facts, and draw conclusions.

Able to interpret a variety of technical instructions and can deal with multiple variables.

Mathematics Ability: Ability to compute discount, interest, profit, and loss; commission markup and selling price; ratio and proportion and percentage. Able to perform very simple algebra.

Language Ability: Ability to read periodicals, journals, manuals, dictionaries, thesauruses, and encyclopedias.

Ability to prepare business letters, proposals, summaries, and reports using prescribed format and conforming to all rules of punctuation, grammar, diction, and style.

Ability to conduct training, communicate at panel discussions and to make professional presentations.

Employee Benefits

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Tuition Reimbursement, Promote From Within Philosophy, Professional Development, Work/Life Balance, Paid Vacation and Sick time, 11 Paid Holidays, Weekends and Evenings Free, 401(k) with 6% Match, Employer-Paid Pension, Incentive Pay, EAP, Medical, Dental, Vision, Life, Long-Term Disability Insurance, Employer H.S.A. Contribution, Wellness Program and Rewards, Credit Union Membership, Financial Wellness Education

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Job Type: Full-time

Pay: $20.94 - $24.87 per hour

Benefits:

• 401(k)
• 401(k) matching
• Credit union membership
• Dental insurance
• Health insurance
• Life insurance
• Paid time off
• Retirement plan
• Tuition reimbursement
• Vision insurance

Experience level:

• 3 years

Physical setting:

• Office

Schedule:

• 8 hour shift
• Monday to Friday
• No weekends

Ability to commute/relocate:

• Maumee, OH 43537: Reliably commute or planning to relocate before starting work (Required)

Experience:

• Cash handling: 1 year (Preferred)
• Banking: 1 year (Preferred)
• Customer service: 1 year (Preferred)

Work Location: In person

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