Trust Administrator II

Comerica • Costa Mesa, CA

47d • Hybrid

About The Position

The 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 Competencies

Successful incumbents possess integrity and trust, listening skills, problem solving skills, are focused on the customer and have a drive for results.

Requirements

• 2 years of general trust account administration or direct trust account administrator experience

Nice To Haves

• Bachelor's degree from an accredited university
• CTFA or ATFA designation
• Personal 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

Responsibilities

• 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
• 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
• 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.

Benefits

• 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.
• 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.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Industry: Credit Intermediation and Related Activities
• Number of Employees: 5,001-10,000 employees