Specialty Admin Trust Advisor I at COMERICA BANK

Charlotte, North Carolina, United States -

Full Time

Start Date

Immediate

Expiry Date

20 Feb, 26

Salary

0.0

Posted On

22 Nov, 25

Experience

2 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Trust Administration, Estate Planning, Charitable Planning, Retirement Planning, Client Service, Business Development, IRS Compliance, Tax Reporting, Account Management, Fiduciary Principles, Documentation Management, Relationship Management, Risk Management, Problem Solving, Team Collaboration, Communication

Industry

Banking

Description

Trust Advisor I The Trust Advisor I (Specialty) serves as a relationship manager to a book of business comprised solely of specialty administration accounts including Private Foundation Trusts, Charitable Trusts or Trusteed Individual Retirement Accounts. Position requires knowledge of trust and estate planning that is outside of standard revocable or irrevocable trust structure, to include charitable planning and/or retirement planning. This position requires partnership with internal and external partners and COIs for business development; role is expected to contribute to the achievement of the annual revenue growth goals for the division. Position Responsibilities: Manage a book of Private Foundation Trusts, Charitable Trusts or Trusteed Individual Retirement accounts within a team-based environment, including analyzing trust governing instruments, implementing client estate plans, and ensuring client accounts are managed in accordance with sound fiduciary principles and applicable law. Manages complexities associated with specialty administration accounts by ensuring IRS requirements are met; trust requirements such as annuity payments occur as required; managing ongoing calculations for distributions; ensuring required minimum distributions occur; and ensuring any other nuance with the specialty type of account under their oversight is met. Oversees the opening and closing of accounts, ensures the receipt of proper and legally required documentation, ensures the full and complete transfer of assets, their cost basis, and the proper characterization of cash as income or principal, ensures all tax codes and account administration codes are accurate and oversees tax reporting activities, coordinating with outside CPAs and advisors. 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. Develops new business through referrals from external and internal centers of influence, through partnering with internal business development officers, and/or through expansion of business within current book of clients. May participate in marketing and development initiatives, in conjunction with team leaders. Build and maintain a strong knowledge of Comerica's policies and procedures including, but not limited to, distributions, account maintenance, account opening and closing, KYC requirements, annual account reviews, and management of overdrafts. Actively contributes to the team, providing feedback on procedural changes. Engage clients, advisors and internal partners to deliver a high-touch client experience within a strong risk management framework. Enlist the assistance of other professionals to resolve IRS or legal issues with specialty accounts. May participate in projects which affect the broader business and improves efficiency of delivery of services to clients. Position Qualifications: Bachelor's degree from an accredited university or 4 years of relevant experience 3 years experience in Specialty Account Administration including charitable trusts, private foundations, or trusted Individual Retirement Accounts in a client service capacity Work Best Category: Category C - Days in the office will either be designated days or will vary week to week from 2-5 days Hours: 8:00am - 5:00pm Monday - Friday Salary: To Be Determined Based on Individual Experience About Comerica We know our employees are critical to our overall success and we are dedicated to investing in their future. One of the ways we do this is to offer a comprehensive Total Rewards package designed to recognize and reward individual performance, as well support health, well-being, development and security for our colleagues and their family. Total Rewards consists of cash compensation, development and flexible benefit programs designed to meet individual needs today and in the future. Your salary will be commensurate with your work experience and our programs are reviewed regularly to ensure each remain competitive. We are proud to offer benefits such as health and welfare programs, strong retirement benefits, and generous paid time off programs. You and your eligible family members, including domestic partners and their children, can participate in medical, dental, and vision benefits, 401(k) and pension, income protection benefits such as life insurance, AD&D, and supplemental health programs to offset unexpected health care expenses. We also have a variety of time off programs for things like vacation, sick time, disability, and parental leave. Eligibility for some programs varies based on employment status and tenure. Upon offer, Comerica conducts a comprehensive background and fingerprint check. Your fingerprints will be used to check the criminal history records of the FBI and may be subscribed in the FBI’s Record of Arrest and Prosecution Background (“RAP Back”) service, which provides ongoing notification to the Company of any updates to your criminal history. 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 into three major business segments; the Commercial Bank, the Retail Bank, and Wealth Management. Comerica's 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 – disability/veteran.

Responsibilities

Manage a book of specialty administration accounts, ensuring compliance with fiduciary principles and applicable laws. Develop new business through referrals and partnerships while providing a high-touch client experience.