IRA Manager

Job Title: IRA Manager

Reports to: Assistant Vice President - Administration

FLSA Status: Exempt

Salary Grade: EX02 ($55,341.00 - $66,924.00 annually)

Supervisory Responsibility: Yes

SUMMARY:

The IRA Manager oversees operations and transactions involving Individual Retirement Accounts (IRAs) and Health Savings Accounts (HSAs). Monitors opening and closing of accounts, account distributions, rollovers, and customer inquiries. Ensures compliance with governmental regulations regarding IRAs and HSAs.

ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned by supervisor and/or Trustco Bank’s Board of Directors.

• Composes written correspondence, emails, tax corrections, research, and adjustments while analyzing situations to prevent any legal implications for the Bank. 
• Monitors daily, weekly, and monthly reports, customer correspondence and the IRS tracking system.
• Reviews forms from branches and operations to ensure accuracy. 
• Ensures compliance with government regulations, including account over-contributions, early distributions and required minimum distributions. 
• Maintains records and is responsible for timely reporting.
• Trains bank employees on IRAs.
• Process data into the Bank’s system as needed. 

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