Trust Administrator II - Special Needs Trust at COMERICA BANK

Elsmere, Delaware, United States -

Full Time

Start Date

Immediate

Expiry Date

20 Feb, 26

Salary

115000.0

Posted On

22 Nov, 25

Experience

2 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Integrity, Trust, Listening Skills, Problem Solving Skills, Customer Focus, Drive For Results, Trust Account Administration, Compliance, Client Relationship Management, Special Needs Trust Administration, Data Collection, Project Support, Tax Reporting, Investment Program Monitoring, Document Analysis, Account Management

Industry

Banking

Description

Trust Administrator II- Special Needs Solutions The Trust Administrator II role will be dedicated to the Special Needs Solution Team. The position is responsible for serving as a relationship manager to most routine and standard client relationships for special needs trusts, settlement preservation trusts, conservatorships and guardianships. This role will participate in the proper management and administration for assigned trust accounts adhering to applicable laws and regulations as well as complying with all requisite policies and procedures. This role may act as the intermediary to the organization on behalf of clients and coordinate service activities with other areas of the organization. Position Competencies Successful incumbents possess integrity and trust, listening skills, problem solving skills, are focused on the customer and have a drive for results. Position Responsibilities: Administration Manages most routine accounts under the direct supervision of a Trust Advisor in accordance with the terms of the various governing documents, applicable laws, and consistent with the needs of the principals, income beneficiaries, and remaindermen. Reviews and confirms analysis of documents for direction; evaluates accounts for completeness and accuracy, monitors and submits account transactions for approval, drafts responses to incoming correspondence and any other client requests to ensure compliance with the governing document, applicable law and policies and procedures. Fields client inquiries, responds to administrative and transactional concerns of clients, and observes the implementation and review of investment programs. Works under the direct supervision of a Trust Advisor in developing solutions to most issues brought forth by principals, income beneficiaries, and remaindermen such as requests for special distributions, fee issues, or disputes. 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. Administratively monitors and tracks tax reporting activities, coordinating with more senior Trust Administrators. Compliance Meets all compliance requirements under the supervision of a Trust Advisor including, but not limited to conducting Reg 9 reviews on all accounts, presenting proper documentation and rationale for discretionary actions, completing AML compliance training, completing all other organization required compliance training. Stays current on fiduciary/tax/legal changes that effect a client's wealth plan or administration of account. Team Member Responsibilities Assists with the collection of data in support of projects which affect the broader business and improves efficiency of delivery of services to clients. Actively contributes to the team, providing feedback and best practices on procedural changes. Position Qualifications: 2 years of general trust account administration or direct trust account administrator experience Preferred Qualifications: Bachelor's degree from an accredited university CTFA or ATFA designation Special needs trust administration experience Experience with partnering with internal and or external Financial Advisors Demonstrated experience generating and retaining client relationships while meeting or exceeding sales goals if assigned Work Best Category: Category B - 3-4 days in office on designated days/1-2 days remote Hours: 8:00am - 5:00pm Monday - Friday Salary: For candidates hired in the state of California, Colorado, Washington, New York, Illinois, Maryland, New Jersey, or Massachusetts the expected salary/On-Target Earnings (OTE) range for the role is currently: New York - $65,000 - $115,000 Annually Salary Range(s) is subject to change. Comerica Bank takes several factors into account when determining individual starting pay. These include but are not limited to position, grade level, location/metropolitan area, skillset, and peer compensation. Comerica Bank considers the employer’s work location to determine the pay range. 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

The Trust Administrator II will manage routine accounts under supervision, ensuring compliance with governing documents and applicable laws. This role also involves responding to client inquiries and overseeing account transactions.