D.A. Davidson Equity Capital Markets · 11 hours ago
Operations Associate - IRA Administrator
United States
Full-time
Remote
New Grad, Entry Level
$21/hr - $28/hrD.A. Davidson Companies is an independent, employee-owned company dedicated to high standards of integrity and ethics. The Operations Associate - IRA Administrator will provide back-up assistance in the IRA and Cash Management areas, ensuring efficient department operations and compliance with IRS regulations.
Banking
Responsibilities
Process IRA contributions, rollovers, conversions, transfers, excesses and re-characterizations into and between accounts in an accurate and timely manner and in accordance with IRS regulations; review requests to move cash or securities in client accounts and insure regulatory and firm requirements are met; follow up on open issues until resolved; seek supervisory approval in unknown areas of expertise
Post manual deposits to IRA accounts in BETA, scan the checks received for bank deposit
During fee season, receive and post IRA fee checks. Balance checks received with BETA reports and scan for bank deposit
Process TRAX IRA distributions from and between accounts according to client requests and set guidelines defined by the IRS and the firm
Process deceased IRA distributions. Establish Tax Reporting accounts for Beneficiary IRAs
Process state and Federal IRA tax payments daily, semi-weekly, monthly, and quarterly
Balance General ledger accounts for each state monthly
Remain current on IRA rules and regulations and how they pertain to corporate policy and industry standards; must be able to understand the impact of the changes in the rules and regulations upon IRA processing, tax reporting and back-office system requirements
Review reports and forms at tax time; reconcile account information to ensure the accuracy of forms filed with the IRS. Identify and communicate any differences. Follow through to resolution, issue corrected tax documents if necessary
Approve IRA account applications manually and on TRAX; review forms for accuracy; communicate missing or incomplete paperwork; review beneficiary information
Approve TRAX IRA ACH requests to ensure monies are sent to the proper accounts in an accurate and timely manner as well as check for required signatures
Review department reports to find and correct IRA reporting errors
Issue acceptance letters for direct rollovers requested by clients
Assist HR with ESOP transfers. Open pass-through accounts, journal shares, issue checks or journal funds as requested
Back Up for Cash Management
Perform other duties as necessary
Qualification
Required
High School diploma or comparable work experience; AA degree in accounting preferred
Ability to operate a computer and adding machine
Strong calculator and computer skills to include Microsoft Outlook, Word and Excel
Strong organizational skills and attention to detail
Familiar with department policies and procedures
Strong knowledge of the back-office system and general accounting principles (what is a debit, what is a credit)
Excellent knowledge of Traditional IRAs, Roth IRAs and SEP IRAs and the IRS rules and regulations that apply to them or willingness to learn IRA rules and regulations
Follow policies and procedures; maintain client confidentiality
Communicate in a clear and service-oriented manner; use appropriate, professional language and grammar to effectively exchange ideas and information
Ability to proactively work with both external and internal clients; relate with others in a professional manner in order to accomplish work responsibilities and objectives
Ability to maintain regular, predictable attendance
Benefits
Company 401(k) and ESOP contribution
Generous sick, vacation, and maternity/parental leave
Paid holidays
Professional Development Opportunities
Discounted personal insurance including home, auto and recreational vehicles
Charitable gift-matching program
Davidson Day of Giving – Our tradition of positively impacting communities in which we live and work.
Company
D.A. Davidson Equity Capital Markets
D.A.
Founded in 2002
1001-5000 employees
Funding
Current Stage
Late StageTotal Funding
unknown2021-06-14Acquired
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