Specialty Admin Trust Advisor I

Comerica • Winston Salem, NC

31d • Hybrid

About The Position

The Trust Advisor I (Specialty) serves as a relationship manager to a book of business comprised solely of specialty administration accounts including Private Foundation Trusts, Charitable Trusts or Trusteed Individual Retirement Accounts. Position requires knowledge of trust and estate planning that is outside of standard revocable or irrevocable trust structure, to include charitable planning and/or retirement planning. This position requires partnership with internal and external partners and COIs for business development; role is expected to contribute to the achievement of the annual revenue growth goals for the division.

Requirements

• Bachelor's degree from an accredited university or 4 years of relevant experience
• 3 years experience in Specialty Account Administration including charitable trusts, private foundations, or trusted Individual Retirement Accounts in a client service capacity

Responsibilities

• Manage a book of Private Foundation Trusts, Charitable Trusts or Trusteed Individual Retirement accounts within a team-based environment, including analyzing trust governing instruments, implementing client estate plans, and ensuring client accounts are managed in accordance with sound fiduciary principles and applicable law.
• Manages complexities associated with specialty administration accounts by ensuring IRS requirements are met; trust requirements such as annuity payments occur as required; managing ongoing calculations for distributions; ensuring required minimum distributions occur; and ensuring any other nuance with the specialty type of account under their oversight is met.
• 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 and oversees tax reporting activities, coordinating with outside CPAs and advisors.
• 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.
• Develops new business through referrals from external and internal centers of influence, through partnering with internal business development officers, and/or through expansion of business within current book of clients.
• May participate in marketing and development initiatives, in conjunction with team leaders.
• Build and maintain a strong knowledge of Comerica's policies and procedures including, but not limited to, distributions, account maintenance, account opening and closing, KYC requirements, annual account reviews, and management of overdrafts.
• Actively contributes to the team, providing feedback on procedural changes.
• Engage clients, advisors and internal partners to deliver a high-touch client experience within a strong risk management framework.
• Enlist the assistance of other professionals to resolve IRS or legal issues with specialty accounts.
• May participate in projects which affect the broader business and improves efficiency of delivery of services to clients.

Benefits

• health and welfare programs
• strong retirement benefits
• generous paid time off programs
• 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
• time off programs for things like vacation, sick time, disability, and parental leave

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