Trust Advisor I - Specialty Administration

Comerica • Raleigh, NC

40d • Hybrid

About The Position

The Specialty Administration Trust Advisor I role will be responsible for providing advisory and administrative support to internal and external clients for a variety of trust accounts. This role will be focused on the administration and oversight of charitable accounts as well as internal and external client management responsibility for administering over various charitable accounts, including Private Foundations, Charitable Remainder and Lead Trusts, and Donor Advised Funds. The role will work closely with grantors and beneficiaries throughout the United States, as well as center of influence professionals such as attorneys, CPAs, and investment advisors. These accounts are of a highly technical nature, and their administration is specialized, requiring knowledge of trust, tax, and charitable IRS regulations. The role will support advisory and compliance for the charitable accounts throughout Comerica's footprint, and is directly involved with the Fiduciary Strategists and Wealth Advisors in support of new business for both the Private Wealth and Advisor Solutions teams.

Requirements

• Bachelor's Degree from an accredited university AND 3 years of fiduciary administration experience OR High School Diploma or equivalent and 5 years of related Trust Account Administration experience
• 1 year of utilizing Microsoft Office Products including Word, Excel and PowerPoint

Responsibilities

• Review governing documentation for complex specialty accounts 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, calculating, and reviewing required minimum distributions on Foundation accounts and ensure any other nuance with the specialty type of account under their oversight is met.
• Review governing documentation for irrevocable trusts to focus on reviewing and approving Private Foundation grant requests and new business.
• 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 policies regarding account administration of accounts.
• Review/Process transactions using the trust accounting platform as needed for certain accounts.
• Participate in consultations that senior trust advisors are leading and assist with issue resolution. These consultations focus on managing or mitigating risk as well as providing suggestion steps to remediate issues.
• Complete follow up to ensure remediation steps are completed.
• Maintain a full understanding of personal trust policies and procedures to include recommending changes as needed due to new regulatory or procedural requirements.
• Participate 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.

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