Sr. Specialty Administration Trust Advisor In Detroit

Comerica Detroit , MI 48222

Posted 1 week ago

Specialty Administration Trust Advisor III

The Specialty Administration Trust Advisor III is responsible for providing client service to both internal and external clients. Internally, this role consults on new and existing business that falls under the colleague's specialty such as Private Foundation Trusts or Charitable Trusts or Trusteed Individual Retirement Accounts. This role also administers 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 who specialize in an area of trust that is outside of the standard revocable or irrevocable trust structure.

Responsibilities:

New Business and Ongoing Administration

  • Review governing documentation 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 Comerica policy regarding account administration of these specialty accounts.

Compliance/Risk Management

  • Complete consultations with trust advisors in personal wealth, professional alliances and personal trust assisting with resolution of issues with beneficiaries or resolving issues that a prior administrator caused. Enlist the assistance of other professionals in resolving IRS or legal issues with specialty accounts. These consultations focus on managing or mitigating risk as well as providing suggestion steps to remediate issues. Maintain a full understanding of personal trust policies and procedures to include recommending changes as needed due to new regulatory or procedural requirements.

Team Responsibilities

  • Participates in projects which affect the broader business and improves efficiency of delivery of services to clients. Actively contributes to the team, providing feedback on procedural changes and assisting in the development of less experienced team members.

Travel

Some Travel is required for this position.

Relocation

Relocation assistance is not available.

  • Bachelor's Degree from an accredited university
  • 7 years of experience in fiduciary
  • 3 years of experience utilizing Microsoft Office Products (Word, Excel, PowerPoint and Outlook)
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