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Financial Processing Analyst

Lafayette Federal Credit Union

Location: Rockville, MD

Schedule: Full-time

Position Overview

Lafayette Federal Credit Union has earned the 2024 Top Workplaces award from USA Today!

Welcome to Lafayette Federal Credit Union Careers!  Our organization is growing, and we are seeking top-notch individuals to provide support to our members. Our employees are a critical component in our endeavor to be the premier financial partner for every one of our members.

  • Do you have experience working with IRAs, deceased accounts, and wires?

If so, then Lafayette Federal may have the perfect opportunity for you!

 

About us:

Our Difference: What makes Lafayette Federal cutting-edge? Lafayette Federal Credit Union is not only a great place to bank, but also a great place to work! We have been recognized nationally by (1) Newsweek’s America’s Best Bank’s list, (2) we’ve received a 5-star rating from Bauer financial, and (3) we’ve also ranked #12 in S&P Global’ s Top Performing Credit Union’s in 2022 for the second year in a row!

Our Culture: Lafayette Federal is about inclusion, diversity, high performance, and new opportunities. Teamwork and our sense of community also make Lafayette Federal a great place to work. Each person is valued for his or her unique set of skills. We share a common devotion to the people we serve, participating in charity events throughout each year and giving back to the community.

Our Opportunities: Professional development, training, and certification is a priority for our employees. We want you to reach your career goals and provide support that leads to opportunities of advancement within the industry.

About the role:

We are currently seeking a Financial Processing Analyst, who is an innovative, enthusiastic, and experienced professional who has worked with IRAs, deceased accounts, and wires.  Summarily, this position will, under general supervision but following established policies and procedures, being responsible for activities related to Wires, IRA, and Deceased Accounts while ensuring that the credit union is in compliance.

 

Education & Experience

Experience & Education:

  • A two-year college degree or 3-5 years of similar or related experience
  • Experience with processing IRAs, Electronic Funds Transfer (EFT), and deceased accounts

 

Requirements

A day in the life Financial Processing Analyst will include:

  • Maintaining membership’s IRA portfolios by processing monthly, quarterly, and annual required minimum distributions, notifying members when they are required to start RMDs, maintaining the IRA out-of-balance report, completing 1099R     corrections to be sent to the Internal Revenue Service and notifying members of any IRS changes to the IRA rules and regulations. Responsible for maintaining IRA automatic distribution updates on Data Safe under the IRA function. Utilizing Ascensus IRA Service Center to respond to IRA inquiries in a professional manner and maintain positive member relations.
  • Performing the daily processing of the wires. Processing and posting all incoming and outgoing wire requests. This includes member verification, enhanced due diligence, and system processing.
  • Acting as a liaison between the credit union and the surviving family members until the deceased account has been completely settled.
  • Being responsible for account estate settlement issues including but not limited to deceased accounts, probate issues, trust accounts, maintenance, and disbursements of accounts upon death of account holder.
  • Researching and notifying proper staff of death notifications. Maintaining holds on deceased members accounts pending government reclamations. Processing government reclamations as required.

Additional Comments

Top benefits or perks:

Joining Lafayette Federal comes with perks to support you in your personal and professional journey.

We provide employees with a generous benefits package including:

  • Employer paid (99.9%) health insurance premium for single and family coverage (HMO Plan) 
  • Fully funded deductible (HMO Plan)
  • 401k employer matching contribution 
  • Income protection with life insurance, short and long-term disability
  • Paid time off & holiday leave
  • Educational assistance
  • Commuter benefits program and more

The job posting highlights the most critical responsibilities and requirements of the job. It is not all-inclusive. There may be additional duties, responsibilities, and qualifications for this job.

*Lafayette Federal Credit Union is an Equal Opportunity and E-Verify Employer

*EOE/AA/DISABILITY/VETERAN 

How to Apply

Please apply using the following link:

https://recruiting.paylocity.com/Recruiting/Jobs/Details/2339292

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