The Ice Man Job begins on a street in Boston, as an armored truck is robbed using explosives and the driver is shot. The driver, Joey Caspito, later tells Nate that he’s a police officer moonlighting as an armored truck driver and that he’s lost both his jobs in the scandal over the robbery. He says he was carrying $12 million in diamonds by himself because of budget cuts. Nate says that it sounds like an inside job, and the police suspect Joey.

Hardison explains the job to the team, despite Parker’s discomfort over Sophie’s absence. Jim Carrity, the man who owned the diamonds, managed to ruin his jewelry store and is very in debt. Nate explains that the insurance payment from the diamonds might be looking great right now, but Carrity won’t get the insurance money for a year or so. This means he needs to sell the diamonds, but Parker points out why he can’t. The diamonds all have a laser-inscribed ID that can only be removed with a special laser, which can only be found in three cities in the world. Nate decides that they can pretend to have one of these lasers and use this to catch Carrity with the diamonds and turn him over to the police. Since Sophie isn’t there, Hardison is going to play the grifter and Parker is going to be the ‘roper’, which entails wearing a cute dress and heels, which she accepts despite obvious doubts. Parker calls Sophie, who gives her some tips on grifting and assures Parker she won’t tell Nate about the call.
Parker successfully convinces Carrity that she’s in the diamond business using a diamond necklace she stole. She introduces him to Hardison, who’s sporting a British accent and ridiculous clothes and bling. The Russian armored truck thieves show up as Carrity’s bodyguards. Hardison calls himself ‘the Ice Man’ and takes credit for Parker’s thefts to back up his fake reputation. He tells Carrity about the laser, but Carrity refuses a deal because of Hardison’s asking price. The head Russian, however, does take Hardison’s phone number.
The whole team says Hardison went way overboard with the act, and Eliot warns him that he won’t bail Hardison out if he gets in too deep. Carrity is getting pressured by his Russian friends when Nate, acting as ‘Mr. Sterling from the insurance company’, comes to the jewelry store and tells Carrity that he needs to review Carrity’s policy. He also says that the insurance payout may take seven to nine months, much to Carrity’s discomfort.

Eliot takes advice from Sophie, just before he and Parker evacuate a lab by pretending to be OSHA and saying that the lab is contaminated. They hide the biohazard gear before Carrity and the head Russian arrive. Hardison is fashionably late, and explains the laser. Parker and Hardison trade a fake diamond for the real one, but since Carrity is only looking for the ID number, he doesn’t notice the switch.
Carrity leaves, but since Hardison bought a ridiculously ostentatious car, Parker hitches a ride with Eliot. A good choice, as it turns out, because Hardison is kidnapped by the Russians, who want Hardison to help them steal and clean Carrity’s diamonds. They think he can break into Carrity’s heavily fortified vault because of the fake reputation he built for himself. Hardison convinces them to let him call his girlfriend, but calls Sophie instead. She chides him for overacting and gives him a few tips for dealing with the Russians, then calls Nate.

Hardison gets the leader to tell him their plan, which is ‘blow through the floor of the vault’, and convinces them to drop it because Parker explains that the explosion would set off the vault’s seismic sensor. Hardison promises that he can get them into the vault, which leaves Nate trying to figure out a new plan. Nate goes to the jewelry store and uses the insurance claim as an excuse to inspect the vault. Nate relays the information to Hardison, who explains it to the Russians. Parker comes up with a way into the vault, and Nate uses hairspray to disable the heat and motion sensors.

That night, Nate distracts Carrity when he shows up unexpectedly. Eliot takes out the guard and pretends to be one himself, and Parker begins breaking in. Nate tries to solicit a bribe from Carrity to distract him from the cameras on the vault. Parker breaks into the vault when Hardison and the Russians arrive, and Hardison pretends to beat up Eliot. Parker writes the combination for the vault on the side in invisible ink. Parker avoids the floor sensors by swinging on the pipes on the ceiling, and works on turning off the floor sensors while Hardison starts breaking the combo. Eliot warns Hardison to go slowly, but Parker doesn’t have enough time to get out before Hardison opens the vault.

When they rush into the vault, however, Parker isn’t visible. Hardison has to improvise opening the safety deposit box because Parker didn’t have time to open them. Carrity tries to throw Nate out and sees the break-in on the monitors, bringing him running to the vault. Hardison warns the Russians about Carrity and disappears while the leader and Carrity fight. The vault door closes, and Parker and Hardison escape using the explosives through the floor of the vault the way the Russians had originally planned. As expected, this sets off the seismic sensor, which fills the vault with fog while the team escapes.

When the police arrive, they find Carrity and the Russians in the vault. Carrity tries to brush it off as a false alarm, but the open deposit box is filled with the missing diamonds, right where Carrity had put them. The men are arrested, and the team gets away scot-free.

Joey Caspito tells Nate that he’s been let back on the police force. Nate informs him that Carrity and his men were arrested for insurance fraud and theft, and gives Joey the money from the diamond Hardison switched out to pay for his medical bills. Hardison tries to get a hug from Eliot, and Nate finally gives Sophie a call. Nate apologizes for letting the team bug her, and tells her that she can call whenever she want, then awkwardly hangs up.

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[source:spoiler tv]