First National Bank of Hutchinson · 4 months ago
Wealth Management Account Administrator
Hutchinson, KS, US
Full-time
Onsite
Entry, Mid Level
$0/yr - $46K/yrFirst National Bank of Hutchinson is seeking a Wealth Management Account Administrator to perform administration, accounting, and customer service on Agency accounts and IRAs. The role involves ensuring compliance requirements are met while providing timely and efficient service to clients.
Financial ServicesVenture Capital
Responsibilities
Work closely with other staff associated with accounts and provide the backbone of service to clients
Responsible for all aspects of administration of agency and IRA accounts assigned
Work with new business staff from the point of prospect to ensure a smooth transition for the new business
Manage the process of transferring securities for new accounts including monitoring the process of booking the assets for accuracy with ultimate responsibility for complete and accurate asset holding information on initial or transferred in client holdings, including assisting operations with obtaining a reasonable cost basis
Assist compliance and operations with obtaining necessary valuations for any unique assets held in IRAs for tax reporting and RMD purposes
Prepare all administrative pre-acceptance, post-acceptance and annual administrative account reviews for accounts assigned
Receive and direct client remittances and bill payments and ensure in accordance with the terms of the governing document and all transactions are properly coded in the account for tax accounting or IRA reporting purposes
Responsible for cash management in all assigned accounts, both excess and shortages and eliminating and preventing account overdrafts
Coordinate and conduct day-to-day client contact and delivery of client service standards with the assigned relationship manager. May attend client meetings, take notes and execute action items as a result
Ensure accounts assigned have proper account settings, all statements and tax reports are set for delivery and fee integrity is maintained
Maintain thorough and clean client files in the department’s format on the network including writing memos to file, letters to clients and saving emails for documentation purposes
Coordinate, calculate and track the timely payout and completion of all IRA RMDs
Responsible for IRA tax coding and necessary documentation for transaction types in IRAs
Prepare correspondence and communication for clients
Compliance with all department, bank and regulatory procedures along with the account governing document and applicable IRA rules falls to the Account Administrator
Perform necessary actions to be taken to close an account in an accurate and timely manner
Qualification
Required
Understand and be able to apply the knowledge of our role as an agent in dealing with taxable investment management and other agency account types
Previous IRA, accounting or related wealth management experience required
College degree in related field, industry designation or equivalent required
Proficient computer skills, especially Microsoft Office applications and Internet browsers required
Detail oriented and strong organizational skills
Skilled at multi-tasking, managing priorities and problem solving skills
Ability to identify and escalate issues as appropriate and manage a book of accounts independently
Strong time management skills, ability to adapt and be flexible
Must follow and maintain knowledge of policies and procedures and recognize the necessity for strict 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 clients and fellow team members
Preferred
Completion of an introduction course of Financial and Retirement Planning is preferred
Company
First National Bank of Hutchinson
First National Bank of Hutchinson is a community bank that offers personal and commercial banking services.
Founded in 1876
51-200 employees
Funding
Current Stage
Growth StageLeadership Team
Troy Hutton
President and Chief Executive Officer
David Marshall
Chief Financial Officer
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