Trust Estate Officer IV
The Trust Estate Officer IV serves as a relationship manager to larger and more complex relationships providing comprehensive wealth management advice and counsel on a broad array of wealth planning issues. This position will act as the fiduciary resource for a specific area of account administration and will ensure proper management and administration for a large variety of assigned accounts adhering to applicable laws and regulations as well as complying with all requisite policies and procedures. Position will act as the intermediary to the organization on behalf of clients and coordinate service activities with other areas of the organization. The position's direct involvement in business development is expected to contribute to the achievement of the annual net new business goal for the division.
Position Competencies
Successful incumbents possess integrity and trust, attention to detail, listening skills, problem solving skills, ability to work independently, great analytical skills and interpersonal business communication skills, strong writing and verbal communication skills and the ability to coach and guide staff members.
Position Responsibilities
•Manages the larger and more complex accounts in accordance with the terms of the various governing documents, applicable law, and consistent with the needs of the principals and income beneficiaries.
•Reviews, analyzes and interprets documents for direction; evaluates accounts for completeness and accuracy, monitors and reviews account transactions, responds to incoming correspondence and any other client requests to ensure compliance with the governing document, applicable law and policies and procedures
•Ensures application of the Consultative Investment Management Process to accounts for which Comerica exercises investment discretion. This includes 1) the use of Planning Station's cash flow analysis (where applicable), 2) the completion of a current risk tolerance questionnaire and resulting asset allocation analysis, 3) obtaining an executed Investment Policy Statement, and 4) participate in the review of an investment proposal, as appropriate for the account.
•Responds to client inquiries and coordinates the implementation and review of investment programs
•Independently resolves most issues brought forth by principals, income beneficiaries, and remainder men 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
•Oversees tax reporting activities, coordinating with outside CPAs and advisors
•Oftentimes manages large family relationships and multigenerational trusts
•Provides comprehensive wealth planning advice to clients, ensuring the 13 Wealth Management issues are appropriately addressed.
•Discusses tax strategies, financial planning/retirement planning/educational planning strategies, and wealth transfer strategies.
•Coordinates the delivery of services with other professionals assigned to the client team or from within the organization, ensuring appropriate customer service in meeting the financial needs of the clients.
•Coordinates with client's other advisors, as appropriate.
•Develops new business through referrals from external and internal centers of influence and/or through expansion of business within current book of clients.
•Attends meetings and external presentations with referral sources to encourage business exchange.
•Consults with team members on the development of strategies and proposals for closing new business.
•Stays current on fiduciary/tax/legal changes that effect a client's wealth plan or administration of accounts.
•Participates in projects which affect the broader business and improves efficiency of delivery of services to clients.
•May supervise direct reports in day to day support activities.
Relocation
Re-location assistance is not provided for this position.
Travel
Travel is not required of this position.
About Comerica
We know that our employees are critical to our overall success. We are dedicated to investing in their future to maintain long-term relationships for lasting commitments. One of the ways we do this is to offer a comprehensive package of compensation and benefits programs which are regularly reviewed to maintain them at competitive levels. Your salary will be commensurate with your work experience.
Upon offer, Comerica conducts a comprehensive background check, fingerprint check and a drug test.
NMLS certification requirement: where applicable, a favorable background check screening, credit check, fingerprint check, and NMLS certification is required in accordance with the SAFE Act.
Comerica Incorporated (NYSE: CMA) is a financial services company headquartered in Dallas, Texas, and strategically aligned by the Business Bank, the Retail Bank, and Wealth Management. Comerica's more than 9,000 colleagues focus on relationships, and helping people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico.
Comerica is proud to be an Equal Opportunity Employer - veterans/individuals with disabilities, committed to workplace diversity.
