Certificate/IRA & Trust Specialist II

Overview

To research, process, and resolve Certificate, Individual Retirement Arrangement (IRA), Education Savings (ESA), Payable on Death (POD) and Trust exceptions, errors, returned and fraudulent checks, money movement, and regulatory account activity. Respond to escalated members inquiries from Contact Center, Branch, and Survivor Support personnel. Identify suspicious or fraudulent activity, place holds, and report/provide necessary documentation to Security for review. Serve as subject matter expert regarding business functions, systems, policies, and procedures. Maintain advanced knowledge of legal, financial, and regulatory requirements related to Certificate, Individual Retirement Arrangement (IRA), Education Savings (ESA), Payable on Death (POD) and Trust products and services. Assist Member Service Representatives to resolve more complex issues. Guide lower-level staff and help resolve more complex issues. Work under minimal supervision.

Responsibilities

• Maintain & apply the laws and regulations of certificate, IRA, ESA, POD , Trust, Estate planning and settlement, and probate knowledge of processes, procedures, systems, and regulations of the Internal Revenue Service Code and National Credit Union Association Administration (NCUA) along with Navy Federal policies and procedures
• Maintain a thorough knowledge of Navy Federal products and services for cross-promotional purposes and to counsel next of kin on actions taken to settle accounts
• Analyze, research, and resolve advanced certificate, IRA, ESA, POD, & Trust issues
• Identify & report compliance issues dealing with certificate, IRA, ESA, POD, & Trust accounts
• Research and analyze members' and/or business unit inquiries for related transactions, circumstances, and actions surrounding the case and determine corrective action to resolve balancing the general ledger
• Adjust and explain complex tax information on certificate, IRA, ESA, POD, & Trust accounts
• Advise members of the benefits of a legal trust account versus a beneficiary account and calculates NCUA share insurance
• Determine eligibility, establish, and maintain revocable and irrevocable legal trust, Trustee, and POD accounts in accordance with NCUA regulations and Navy Federal policies
• Counsel Contact Center Account Specialists, BOTAD, and Branch employees on the proper application(s) and documentation required to process a Deposit Trust, Trustee, or Payable on Death account requests
• Counsel members and Navy Federal staff regarding regulatory compliance of minimum distributions, NCUA insurance coverage, rollovers and direct rollovers/transfers
• Counsel members on successor trustee procedures based on death or incapacitation of current trustee(s)
• Read and interpret legal trust agreements to determine the current trustee(s) and authorized Power of Attorney transactions
• Review trust account closure requests and initiate bank wires and checks to close legal trust accounts; ensure requestor is the legally appointed trustee
• Verify the individual(s) legally appointed as trustee, co-trustee, or successor trustee and the documentation required to accept the appointed position; requests and verifies required documentation
• Identify suspicious or fraudulent activity and place holds and/or provide necessary documentation for review
• Monitor numerous reports and automations to ensure accurate completion of processes in compliance with current and changing regulations
• Monitor various databases and web portals to ensure responses are completed and processes are followed in compliance with regulation
• Perform first level review of transactions, follow due diligence steps regarding regulations and fraud, and escalate as appropriate
• Initiate and/or respond to communications with members, business units, and other financial institutions
• Provide guidance and assists Branch Operations and Contact Center MSRs to help resolve complex member account issues
• Identifies & participates in driving continuous process improvement to increase member experience quality; reduce losses; minimize financial risk and maintain high operational efficiency
• Ability to make decisions and recommendations within moderate authorized monetary limits
• Guide lower-level team members
• Perform other duties as assigned

Qualifications

• Progressive experience working in a high volume, fast paced environment
• Advanced organizational, planning, problem solving, analytical, mathematical and time management skills
• Advanced active listening and verbal/written communication skills to respond tactfully to difficult, member and colleague issues
• Advanced skill navigating multiple screens and PC applications and adapting to modern technologies
• Demonstrated experience in leading, guiding and mentoring others
• Demonstrated experience in handling multiple tasks simultaneously with a high degree of accuracy
• Demonstrated experience in progressively responsible member/customer service or administrative position
• Demonstrated experience to working with all levels of staff, management, stakeholders, vendors
• Demonstrated ability to understand, apply, and communicate complex regulations, instructions, and procedures
• Demonstrated ability to work independently and exercise good judgment, logic, integrity, and initiative
• Demonstrated experience accounting, research, or auditing techniques and methods in a financial institution
• Demonstrated experience of accounting, auditing, or trust agreement language in a multi-tasked, time sensitive office environment
• Effective interpersonal, verbal, and written communication skills including the ability to counsel members and employees about complex trust language, procedures, and laws
• Effective skill building effective relationships through rapport, trust, diplomacy and tact
• Advanced Degree in Finance, Accounting or a related field, or the equivalent combination of education, training, and experience that demonstrates an understanding of financial accounting and/or business practices
• Advanced knowledge of Navy Federal's products, services, policies, procedures, philosophy, and strategic objectives
• Working knowledge of Certificate, IRA, ESA, POD, and Trust products, processes, procedures, account structure, and financial posting procedures
• Working knowledge with the Savings & Time (ST) System and UAD

Hours: Monday - Friday, 8:00AM - 4:30PM CT

Location: 5510 Heritage Oaks Drive, Pensacola, FL 32526 | 141 Security Drive, Winchester, VA 22602

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