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Specialty Administration Trust Advisor
Comerica
Detroit, MI, United States
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Job Description
Specialty Administration Trust Advisor
The Specialty Administration Trust Advisor role will provide client service to both internal and external clients. Internally, this role consults on non-complex new business that fall under the colleague's specialty such as Private Foundation Trusts or Charitable Trusts or Trusteed Individual Retirement Accounts. This role primarily administers less complex specialty accounts either jointly with the assigned trust advisor within personal wealth or professional alliances or directly where the colleague is the assigned trust advisor. This role requires colleagues become trained to specialize in an area of trust that is outside of the standard revocable or irrevocable trust structure.
Position Competencies
Successful incumbents have will be detail oriented; ability to work collaboratively and ability to work with minimal supervision.
Responsibilities:
New Business and Ongoing Administration
• Review governing documentation for non-complex specialty accounts to ensure Comerica can act in accordance with the document requirements. Ensure account coding is consistent with the governing document. Manage the complexities associated with these special types of accounts -- ensuring IRS requirements are met, or trust requirements such as annuity payments occur as required, manage ongoing calculations for distributions, ensure required minimum distributions occur and ensure any other nuance with the specialty type of account under their oversight is met.
• Consult with colleagues who have clients wishing to implement these specialty strategies within their estate plan. Implement the strategy once all required documentation and information is received.
• Complete required state or federal registrations for specific account type and manage renewals as needed. Complete required account reviews for new accounts and existing accounts per Comerica policy.
• Adhere to all legal and regulatory requirements, Comerica policy regarding account administration of these specialty accounts.
• Process transactions using the trust accounting platform as needed for specialty accounts.
Compliance/Risk Management
• Participate in consultations with trust advisors who are leading or assisting with issue resolution. These consultations focus on managing or mitigating risk as well as providing suggestion steps to remediate issues.
• Complete follow up to ensure remediation steps are completed. Maintain understanding of personal trust policies and procedures to include recommending changes as needed due to new regulatory or procedural requirements.
Team Responsibilities
• Participate in projects which affect the broader business and improves efficiency of delivery of services to clients. Contributes to the team, providing feedback on procedural changes.
Relocation
Relocation assistance is not provided for this position.
Travel
Travel is not required for this position.
Qualifications
• Bachelor's Degree from an accredited university or 10 years of experience in fiduciary administration required
• 3 years of experience in fiduciary matters
• 1 year of utilizing Microsoft Office Products including Word, Excel and Powerpoint
About Comerica
We know that our employees are critical to our overall success. We are dedicated to investing in their future to maintain long-term relationships for lasting commitments. One of the ways we do this is to offer a comprehensive package of compensation and benefits programs which are regularly reviewed to maintain them at competitive levels. Your salary will be commensurate with your work experience.
Upon offer, Comerica conducts a comprehensive background check, fingerprint check and a drug test.
NMLS certification requirement: where applicable, a favorable background check screening, credit check, fingerprint check, and NMLS certification is required in accordance with the SAFE Act.
Comerica Incorporated (NYSE: CMA) is a financial services company headquartered in Dallas, Texas, and strategically aligned by the Business Bank, the Retail Bank, and Wealth Management. Comerica's more than 9,000 colleagues focus on relationships, and helping people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico.
Comerica is proud to be an Equal Opportunity Employer - veterans/individuals with disabilities, committed to workplace diversity.