Wealth Management IRA Associate

About Working at Commerce

Building a career here is more than just steps on a ladder. It’s about helping people find financial safety and success, helping businesses thrive, and making sure people and their money are taken care of. And our commitment doesn’t stop there. Our culture is about our people, the ones in our communities and the ones that work with us.

Here, you’ll find opportunities to grow and learn, to connect with others, and build relationships with the people around you. You’ll have the space and resources to grow into the best version of yourself. Because our number one investment is you.

Creating an award-winning culture doesn't come easy. And after 160 years, we know Commerce Bank is only at its best when our people are. If this sounds interesting to you, keep reading and let’s talk.

Hourly: $21.40 - $24.50 (Amount based on relevant experience, skills, and competencies.)

For more than a century, Commerce Trust has been a leading provider of wealth management services including financial planning, estate and tax planning, investment management, private banking and trust administration services. Our approach to wealth management means assembling a team of seasoned wealth management professionals across disciplines who collaborate to ensure each client’s financial journey is uniquely crafted for their goals.

Commerce Trust is a division of Commerce Bank.

The Wealth Management IRA Associate is the primary point of contact for Private Client Advisors within the Commerce Trust Company. The Commerce Trust Company, a division of Commerce Bank, is ranked among the top 25 investment advisors in the U.S. with over $53 billion in client assets. The Commerce Trust Company concentrates on serving individuals, families, business owners and institutions investment management needs through a combination of world class capabilities and resources, objective advice, customized solutions and unparalleled service.

The primary focus is servicing and processing for time sensitive, high risk transactions for internal Private Client Advisors. The IRA Associate also serves as a liaison between the Advisors and other departments of the Trust Company including Operations, Audit, Compliance, Legal and Tax. The IRA Associate plays a key role in how new customers form their first impressions of the Trust Company.

This requires excellent relationship building skills, critical thinking, and the ability to make sound and prudent judgment on a simple perception of a situation. This role also requires excellent attention to detail along with a broad range of industry knowledge including current taxation and compliance regulations.

• Build and maintain relationships with Private Client Advisors and ensure a timely, complete and accurate processing of IRA transactions

• Deliver support and resolutions that meet goals of the advisors

• Work closely with and provide customer service for Private Client Administrators to facilitate all distributions related to the IRA product offering

• Receive notification from the Private Client Administrators along with the information needed to facilitate IRA distributions; process normal and premature distributions, distributions due to death, internal transfer distributions, and transfers to an outside custodian

• Process state and federal withholding; ensure all compliance requirements have been met and all processing and coding is complete, timely, and accurate

• Ensure appropriate controls are in place for all processes related to the IRA product offering; responsible for identifying accounts with clients reaching their required minimum distribution

• Collaborate with the Private Client Advisors to mail Required Minimum Distribution (RMD) letters to the clients identified and reviewing reports to review accounts that have not satisfied their RMD; gather missing account information such as date of birth, date of death, and beneficiaries.

• Work closely with other members of the team to assist/backup during high volumes or absence

• Perform other duties as assigned

• Basic knowledge of the IRA field

• Excellent customer…