IRA Specialist

Req ID: 73861

Location: Tulsa -TUL

Areas of Interest: Bank Operations; Wealth Management; Wealth Management Operations

Pay Transparency Salary Range: Not Available

BOK Financial (BOKF), Headquartered in Tulsa, Oklahoma, BOK Financial Corporation (NASDAQ: BOKF) is a top 25 U.S.-based financial services holding company with operations in ten states - Oklahoma, Texas, Arkansas, Arizona, Colorado, Kansas/Missouri, New Mexico, Nebraska and Wisconsin. The company began more than 100 years ago in Tulsa and has successfully diversified into a variety of industries, businesses and geographies

Bonus Type

Discretionary

Summary

We're building a culture at BOK Financial where amazing people (like you) can bring their best, be their best and work for the best. You've come to the right place to grow your career.

Job Description

The IRA Specialist is primarily responsible for ensuring that all compliance requirements established by Internal Audit and the IRS for CD/IRA are met; monitoring all IRA products to ensure that all monetary transaction are valid and coded correctly according to IRS regulations; performing quality review of all new account setups and maintenance transactions completed by Customer Service Reps and Consumer Bankers; completing research to resolve routine to complex customer issues; assisting in tax reporting process while staying abreast of IRS tax reporting compliance and ever-changing IRA regulations and new product offerings available for all Banks. This position also engages in frequent telephone communication with internal customers to assist in counseling simple to complex IRA procedures through the Fidelity ST/IRA Plan Applications according to the IRS regulations.

Team Culture

We celebrate each other's wins, big and small. We respect, honor and praise one another for a job well done. We are transparent. We are involved, committed, and collaborative. Simply put: We Achieve More Together.

Engagement comes from our monthly potluck lunches, training opportunities, employee recognition efforts, and volunteerism. We also build relationships with subject matter experts across the organization to gain a greater appreciation for their role and for the service they provide to our communities.

How You'll Spend Your Time

• You will perform quality review of all IRA legal documentation and transactions completed on CD/IRA accounts by branch personnel staff to include: new account setup, input of RM information, maintenance changes, and tax reporting coding.
• You will complete daily IRS (Incident Reporting System) received from all BOKF Bankers within a 4 to 8 hour turn around window. The requests can include IRS corrections, 1099R and 5498 corrections, product changes, interest payment or penalty adjustment, interest payment frequency changes, reverse contribution and distribution and Federal Tax Withholding.
• You will communicate with internal lines of business to resolve customer issues (i.e. stop payments, interest payment errors, styling of accounts, promotional account issues, simple to complex research on closed accounts, Required Minimum Distribution (RMD), Federal Tax Withholding, 1099R, Inherited IRA setups and procedures, Rate Changes and Rollover/External Transfers).
• You will maintain compliance with IRS regulations by keeping up-to-date knowledge of IRS regulatory changes; attends training seminars as available.

Education & Experience Requirements

This level of knowledge is normally acquired through completion Associates Degree in Banking or Finance and 1-2 years banking experience relating to IRA Processes, Procedures and Regulations or 4 - 5 years experience in banking relating to IRA Processes, Procedures, and Regulations.

• Thorough knowledge and understanding of IRS Rules and Regulations pertaining to IRA with the ability to effectively explain them
• Basic office skills including 10-key by touch, typing 30-40 wpm, and alpha and numeric filing skills
• Good mathematical skills to accurately calculate accrued interest
• Good PC skills including Microsoft Word, Microsoft Office Outlook and Microsoft Excel.
• Good knowledge of: file maintenance, English grammar and proper telephone etiquette
• Good interpersonal, verbal and written communication skills
• Ability to read and adhere to strict IRS rules and procedures governing IRA and TD applications.
• Ability to read/understand system training manuals and regulatory information to ensure adherence to IRS and Internal Audit Policy and Procedures.
• Excellent organizational skills and commitment to task to thoroughly resolve customer issues in a timely manner
• Detail oriented to review and ensure the overall quality of all IRA Time Deposit Information input on the system

Working Conditions & Physical Requirements

Office - 20 lbs

BOK Financial is a stable and financially strong organization that provides excellent training and development to support building the long term careers of our employees. With passion, skill and partnership you can make an impact on the success of the bank, our customers and your own career!

Apply today and take the first step towards your next career opportunity!

BOK Financial is an equal opportunity employer. We are committed to providing equal employment opportunities for training, compensation, transfer, promotion and other aspects of employment for all qualified applicants and employees without regard to sex, race, color, religion, national origin, age, disability, sexual orientation, genetic information or veteran status.

Please contact [email protected] with any questions.