Comerica Bank
Trust Administrator II
Comerica Bank, Wilmington, Delaware, us, 19894
Trust Administrator IIThe Trust Administrator II role will be responsible for serving as a relationship manager to most routine and standard client relationships. 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 CompetenciesSuccessful incumbents possess integrity and trust, listening skills, problem solving skills, are focused on the customer and have a drive for results.
Position Responsibilities:ADMINISTRATIONManages 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.
COMPLIANCEMeets 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 affect a client's wealth plan or administration of account.
TEAM MEMBER RESPONSIBILITIESAssists 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 QualificationsBachelor's Degree from an accredited university AND 2 years of experience serving as an account administrator in a specific area of expertise to include trust administration, investments, insurance in a client service capacity OR High School Diploma/GED AND 6 years equivalent work experience serving as an account administrator in a specific area of expertise to include trust administration, investments or insurance in a client service capacity.5 years of experience utilizing Microsoft Office Products including Word and Excel.
Work Best Category:
Category B - 3-4 days in office on designated days/1-2 days remoteHours:
8:00am - 5:00pm Monday - FridaySalary:
For candidates hired in the state of California, Colorado, Washington, New York the expected salary/On-Target Earnings (OTE) range for the role is currently:
New York - $62,500 - $112,500 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.
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Position CompetenciesSuccessful incumbents possess integrity and trust, listening skills, problem solving skills, are focused on the customer and have a drive for results.
Position Responsibilities:ADMINISTRATIONManages 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.
COMPLIANCEMeets 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 affect a client's wealth plan or administration of account.
TEAM MEMBER RESPONSIBILITIESAssists 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 QualificationsBachelor's Degree from an accredited university AND 2 years of experience serving as an account administrator in a specific area of expertise to include trust administration, investments, insurance in a client service capacity OR High School Diploma/GED AND 6 years equivalent work experience serving as an account administrator in a specific area of expertise to include trust administration, investments or insurance in a client service capacity.5 years of experience utilizing Microsoft Office Products including Word and Excel.
Work Best Category:
Category B - 3-4 days in office on designated days/1-2 days remoteHours:
8:00am - 5:00pm Monday - FridaySalary:
For candidates hired in the state of California, Colorado, Washington, New York the expected salary/On-Target Earnings (OTE) range for the role is currently:
New York - $62,500 - $112,500 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.
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