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Job Description
At OceanFirst Bank, each one of our employees plays an important role in delivering value to our customers and executing daily tasks in accordance with our core values. We recognize that our employees are essential to our success, making OceanFirst a great place to work and do business.
Great benefits include: on-site fitness facility at Red Bank and Toms River headquarter offices, employee perks & discount programs, tuition assistance, incentive compensation program, professional development opportunities, and more! Apply today to #BecomeOceanFirst and make an impact in the local community!
About the Role
The Ancillary Branch Services Representative is responsible for providing exemplary customer care in all Ancillary Branch Services Department interactions. This position performs functions related to eBranch services, the detailed establishment and maintenance of IRA retirement account plans according to regulations, CIF maintenance and the processing of levies and branch-related subpoena research.
What You Will Do
- Establishes and maintains retirement account participant files, including but not limited to Decedent and Inherited IRA accounts in accordance to appropriate regulations.
- Monitors all prospective mandatory distribution participants annually.
- Distributes IRS required forms and related corrections when needed, including Form 1099R, Form 5498, and year-end statements.
- Arranges for and receives deposits of retirement account assets transferred to Bank from other institutions.
- Reviews documentation and prepares checks for retirement account assets being transferred to other institutions.
- Completes activities related to eBranch customer convenience options.
- Performs activities related to levy processing and branch-related subpoena research.
- Performs reviews and corrects all daily department maintenance and forms submitted by Branch for retirement accounts.
- Receives and addresses internal customer inquiries and requests related to Ancillary Branch Services functions in a timely manner.
- Completes research and resolves errors or discrepancies.
- Receives and reviews reports and prepares correspondence related to mandatory retirement account distributions.
- Serve as backup to review IRS system reports.
- Receives and processes returned mail.
- Performs retirement account and other deposit account CIF level maintenance.
- Processes monetary transactions related to Ancillary Branch Services customers and accounts.
- Receives and processes levies.
- Answers routine inquiries from branch staff related to department products and services.
- Contribute to achieving satisfactory audit results and remediating recommendations in a timely manner.
- Assists the department manager with the creation and ongoing development of the IRC including (but not limited to) telecommunications systems, operational systems, creation of workflows and scripts, development of procedures, and/or preforms appropriate training.
- Completes copy requests for Bank Statements, Loan Statements, 1098/1099/1099R Statements, Checks and Deposited Items.
- Performs research pertaining but not limited to Medicaid Requests, S.S.I Requests, Levies and Subpoenas.
- Understands compliance with all regulations governing the banking industry, as well as agency guidelines and organization policies.
- Understands the compliance requirements for Retail Support Services to ensure files are maintained in accordance with regulations.