The Role
Assist in department operations by processing IRA transactions, maintaining compliance with regulations, and supporting cash management tasks.
Summary Generated by Built In
D.A. Davidson Companies is an independent, employee-owned company with a rich history spanning more than 80 years. We are dedicated to conducting our business in accordance with the highest standards of integrity and ethics, and delivering outstanding service to our clients and each other. We support a friendly, open and supportive culture, and encourage candid communication and productive engagement that make our companies and each of us better. Just as we work to improve our clients’ financial well-being, we also work to strengthen local communities—and giving back is one of our core values. You can learn more about our company culture and impact in our latest annual report.
Summary/Function:
Provide back-up assistance to various areas of the department to contribute to efficient and effective department operations. This position backs up two different areas within the department: IRA and Cash Management.
Qualifications:
• High School diploma or comparable work experience; AA degree in accounting preferred
• Ability to operate a computer and adding machine.
• Strong calculator and computer skills to include Microsoft Outlook, Word and Excel
• Strong organizational skills and attention to detail
• Familiar with department policies and procedures
• Strong knowledge of the back-office system and general accounting principles (what is a debit, what is a credit)
• Excellent knowledge of Traditional IRAs, Roth IRAs and SEP IRAs and the IRS rules and regulations that apply to them or willingness to learn IRA rules and regulations.
• Follow policies and procedures; maintain 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 external and internal clients; relate with others in a professional manner in order to accomplish work responsibilities and objectives.
• Ability to maintain regular, predictable attendance.
Duties:
• Process IRA contributions, rollovers, conversions, transfers, excesses and re-characterizations into and between accounts in an accurate and timely manner and in accordance with IRS regulations; review requests to move cash or securities in client accounts and insure regulatory and firm requirements are met; follow up on open issues until resolved; seek supervisory approval in unknown areas of expertise.
• Post manual deposits to IRA accounts in BETA, scan the checks received for bank deposit.
• During fee season, receive and post IRA fee checks. Balance checks received with BETA reports and scan for bank deposit.
• Process TRAX IRA distributions from and between accounts according to client requests and set guidelines defined by the IRS and the firm.
• Process deceased IRA distributions. Establish Tax Reporting accounts for Beneficiary IRAs
• Process state and Federal IRA tax payments daily, semi-weekly, monthly, and quarterly.
• Balance General ledger accounts for each state monthly.
• Remain current on IRA rules and regulations and how they pertain to corporate policy and industry standards; must be able to understand the impact of the changes in the rules and regulations upon IRA processing, tax reporting and back-office system requirements.
• Review reports and forms at tax time; reconcile account information to ensure the accuracy of forms filed with the IRS. Identify and communicate any differences. Follow through to resolution, issue corrected tax documents if necessary.
• Approve IRA account applications manually and on TRAX; review forms for accuracy; communicate missing or incomplete paperwork; review beneficiary information.
• Approve TRAX IRA ACH requests to ensure monies are sent to the proper accounts in an accurate and timely manner as well as check for required signatures.
• Review department reports to find and correct IRA reporting errors.
• Issue acceptance letters for direct rollovers requested by clients.
• Assist HR with ESOP transfers. Open pass-through accounts, journal shares, issue checks or journal funds as requested.
• Back Up for Cash Management.
• Perform other duties as necessary.
What we offer:
Competitive salary plus excellent benefits and perks including, but not limited to:
•Company 401(k)and ESOP contribution
•Generous sick, vacation, and maternity/parental leave
•Paid holidays
•Professional Development Opportunities
•Discounted personal insurance including home, auto and recreational vehicles
•Charitable gift-matching program
•Davidson Day of Giving – Our tradition of positively impacting communities in which we live and work.
The potential base pay hiring range for this role is $21.00 - $28.00. The compensation offered will be determined on a case-by-case basis considering a variety of factors including, but not limited to, the skills, relevant work experience, and geographic location of each specific candidate.
D.A. Davidson has been in business for 90 years! As an employee-owned company, our success is driven by our high standards of business ethics, integrity and the belief that our Associates are our most important assets. We hope you will consider joining us!
At D.A. Davidson, we are committed to fostering a diverse environment that supports the development and inclusivity of all employees.
We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, sex, gender, gender expression, sexual orientation, age, marital status, veteran status, or disability status. We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment. Please contact us to request accommodation.
ACKNOWLEDGMENT
Please answer all questions carefully. By submitting this application for employment, I certify that all of the above information is true and complete and I understand that any falsification or omission of information made by me may disqualify me from further consideration for employment or, if hired, may result in my termination of my employment at any time during the period of my employment, regardless of the amount of time that has passed. California applicants, please see D.A. Davidson’s California Resident Privacy Policy.
Top Skills
Excel
Microsoft Outlook
Microsoft Word
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The Company
What We Do
At D.A. Davidson Companies, we identify and evaluate market trends, investment ideas and business opportunities, and turn them into actionable insights and strategies. Founded in 1935 as a small brokerage firm, D.A. Davidson has grown into a diversified financial services company comprised of seven distinct business units across the U.S.
Through the years, our most important service has remained consistent: a personalized approach that reflects the individuality of each of our clients. As part of an employee-owned company, each of our associates has a unique perspective of success. We believe in doing what is right for our clients and are empowered to deliver high-impact solutions.
We are with our clients every step of the way—leveraging our nationally-recognized research, capital markets and investment banking expertise, and a robust network of financial advisors. Clients not only benefit from our expansive platform of solutions and services, but also from strong values rooted in tradition and a deep sense of responsibility to our communities.
