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Job Openings: IRA & Account Administration Supervisor (Newport News)

Announcement Number:2020-31
Announcement Date:June 17, 2020
Location of Position:Newport News
Salary:Based on experience
Days:Based on need
Hours:Based on need


BayPort Credit Union is currently seeking a IRA & Account Administration Supervisor. The primary purpose of this position is to provide quality service to the credit union members and support to the front-line staff. This is accomplished by serving as a liaison between the member, staff and the credit union for products and services related to IRAs, Trusts, Power of Attorneys and Deceased account processing. Primary duties include but are not limited to plan administration of IRA accounts, administering distributions, tax reporting, processing transactions on IRA accounts and providing daily supervision and support to the IRA and Account Administration staff members.


  • Responsible for the administration of the credit union’s IRA program; to include, but not limited to the opening and/or closing of IRA accounts, processing transactions such as incoming and outgoing transfers and rollovers, monitoring all transactions for accuracy and complete documentation, making corrections to IRA accounts, conducting plan maintenance and performing periodic compliance audits of plan files.
  • Responsible for the creation and completion of daily, monthly, quarterly, and/or annual reports; to include, but not limited to IRA Federal and State withholding reports, normal and mandatory periodic distribution reports, Fair Market Value Information and various other reports.
  • Responsible for verifying, balancing, reporting, correcting, and filing of IRA tax reporting related documents such as 1099R, 1099Q, 5498, 5498 ESA and 1096.
  • Responsible for regulatory compliance to include, but not limited to, monitoring any changes with IRS Regulations regarding IRAs; as well as, codes and statues for Power of Attorneys, Trusts and Decedent accounts, providing annual training and feedback to staff, ensuring third party applications are in compliance to regulations, changes, forms, and amendments.
  • Recommend procedure and policy changes to mitigate risk to the credit union and improve the member experience.
  • Provide training and guidance to IRA Representatives and MSRs to insure success with implementing IRA policies and procedures.
  • Interact and work closely with our 3rd party IRA vendor regarding compliance, regulations, changes, forms, amendments, IRA Service center, IRAdirect and Integration to our system core to make sure the credit union is following current and new regulations.
  • Interact and work closely with BayPort Financial to provide options to members that best fit their needs.
  • Responsible for providing service directly to members regarding IRA account, deceased accounts, power of attorney, and trust accounts. As well as, listening to members in order to best anticipate their needs, and educating members of any products or services offered by the credit union to improve their financial well-being.
  • Test all new IRA releases while documenting any problems caused and suggestions for solutions.
  • Process special projects and assignments as directed within established deadlines.
  • Responsible for coaching, mentoring, and assisting with the evaluation process for direct reports.
  • Other duties as requested.



  • Education up to the equivalent of a four-year high school education is required.
  • Completion of specialized courses/certifications in the subject of taxation, Federal and State laws and regulations in regards to IRA accounts is preferred.
  • 2 - 4 years’ experience in a financial institution environment with at least 2 years’ experience as a Member Service Representative or 1 year experience as an IRA Service Representative or equivalent education and/or work experience.
  • Previous supervisory experience is preferred.
  • Extensive knowledge of Federal and State government regulations and codes concerning IRA accounts, taxation, processes of dispersing funds, Power of Attorneys, Trusts and Deceased account processing.

Misc Comments:

This job description is not an all-inclusive list of the responsibilities, skills, working conditions or essential functions of this job. Management reserves the right to modify, add or remove essential functions as business needs warrant.

We are proud to be an EEO/AA employer M/F/D/V. We maintain a drug-free workplace and reserve the right to perform pre-employment substance abuse testing.

Interested candidates may apply at www.bayportcu.org/about/careers

How to Apply

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Carefully read the above posting for specific information on how to apply for this position. If the credit union requests you apply through their website or directly through email to one of their staff members, please use that method to ensure timely consideration for the position you seek.

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