Job Description

Primary Purpose:

Provides exchange services to members in a manner that reflects the priorities, mission, goals and values of Towne 1031 Exchange, LLC and TowneBank.

Essential Responsibilities:

• Coordinates with the taxpayer’s attorney and/or tax advisor and provides exchange transaction documentation as needed so that the 1031 exchange rules and regulations are thoroughly understood.
• Prepares the necessary exchange documentation which includes exchange agreement, assignment agreements, notice of assignment, exchange account forms, and instructions to the closing officers.

• Handle acceptance and disbursement of funds in accordance with 1031 rules.

• Holds and protects exchange proceeds on behalf of the taxpayer until exchange funds are needed to purchase the replacement property.
• Provides guidance, information and critical timelines throughout the entire 1031 exchange process.

• Handle all accounting for the exchange files.
• Manage exchange process in a timely manner.
• Ensure exchange fees are collected for assigned exchange files.
• Follows up with issues requiring response or action as needed.
• Anticipates problems, critical issues and opportunities as they arise and advises the team accordingly.
• Adheres to applicable federal laws, rules, and regulations including those related to Anti-Money Laundering (AML) and the Bank Secrecy Act (BSA).
• Performs other duties as required or assigned which are reasonably within the scope of the duties in this job classification.

Minimum Required Skills & Competencies:

• 3–5 years of experience in 1031 exchanges, real estate transactions, title/escrow, or a closely related field, with a solid grasp of how deals move from contract to closing.
• An Associate’s or Bachelor’s degree or equivalent experience and strong knowledge of Microsoft Office and database systems to manage documents, deadlines, and financials.
• Demonstrated ability to evaluate situations, exercise independent judgment and make recommendations/ decisions as necessary.
• Excellent time-management, prioritization, and organizational skills.
• Ability to exercise discretion and independent judgment with respect to matters of significance.
• Ability to interpret and apply policies and guidelines effectively and accurately
• Strong oral and written communication skills.
• Excellent customer service skills and telephone manners.

Desired Skills & Competencies:

• Basic understanding of accounting (i.e. debits, credits, General Ledger accounts).
• Experience with Adobe Acrobat DC.

Physical Requirements:

• Express or exchange ideas by means of the spoken word via email and verbally.
• Exert up to 10 pounds of force occasionally, use your arms and legs, and sit most of the time.
• Have close visual acuity to perform activities such as analyzing data, viewing a computer terminal, reading, and preparing documentation.
• Not substantially exposed to adverse environmental conditions.
• The physical demands described here are representative of those that must be met by an employee to successfully perform the essential responsibilities of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform essential responsibilities