Special Needs Trust Administration
The Special Needs Trust Administration is responsible for the administration of Special Needs Trusts, Court Appointed Trusts, Settlement Preservation Trusts and similar trusts. Is a subject matter expert on Medicaid payback trusts understanding the needs of the beneficiaries and the risk management needs of the Comerica Bank. Is responsible for ensuring the proper use of funds and is responsible for ensuring the beneficiaries of these trusts are properly cared for while preserving their eligibility for government benefits. Coaches, leads, mentors their team members to achieve the same level of subject matter expertise throughout the team. The Special Needs Trust team is located coast to coast and the accounts are assigned geographically/regionally. This department serves both the Alliance Trust business line and the Personal Wealth business line.
Provides ongoing coaching and support to Trust Advisors in the administration of these complicated accounts.
Sets goals and administrative requirements and holds colleagues accountable.
Oversees accurate and timely completion of work.
Provides training and ensures cross training.
Hires new colleagues.
Subject Matter Expert in the Administration of Special Needs/Court Appointed/Settlement Preservation Trusts
Educates and shares product, industry and regulatory knowledge to internal and external parties.
Is able to learn about as well as educate others on the statutes in the various states or counties where administration occurs.
Teaches others best practices for account administration of these highly active accounts.
Administer a book of accounts.
Metrics and Partnerships
Establish staffing model and communicate staffing and account parameters to the Trust Specialists, Wealth Advisors, Trust Advisors and business line leadership.
Collaborate with partners assisting in new business development as needed.
Continuously review the book of business to determine if there are opportunities to transition smaller accounts to the appropriate organization for administration.
Responsible for all fiduciary duties associated with special needs trust accounts.
Adherence to the language/requirements of the governing documents.
Adherence state or county administration requirements ensuring the ability for the beneficiary to receive government benefits is not diminished.
Ensure all colleagues adhere to policies associated with these trust types.
Some Travel is required for this position.
Relocation assistance is not available.