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Trust Regulatory Reporting Specialist

Farmington, USA
Closing date
Jul 11, 2024

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Job Function
Industry Sector
Finance - General
Employment Type
Full Time

We invite you to explore the award-winning culture, people, rewards and opportunities that make Comerica Bank so special. Make your next career choice a confident one.


Position Qualifications:

  • Bachelor's degree from an accredited university
  • 6 years of Trust operations, Trust Administration, Securities
  • 4 years of Project Management

Preferred Qualification:

  • Accounting experience

Job Description

Trust Accounting and Reporting Specialist

The Trust Accounting and Reporting Specialist is primarily responsible for the creation, meaningful assessment, and distribution of financial and regulatory reports. Oversees and executes critical reconciliation activities related to Comerica Trust's outsourced Trust Operations. Serves as the primary contact for reconciliation and reporting activities as well as handling inquires received from Finance, Senior Leadership, Internal Audit, and Corporate Compliance.

Position Responsibilities:

  • Responsible for performing a variety of accounting, analytical, financial reporting duties ensuring client and investor activity reporting is prepared and completed appropriately.
  • Serves as a technical accounting expert without management responsibilities and is seen as a subject matter expert and key advisor on significant business/accounting decisions to team and partners.
  • Prepares financial information for regulators, finance, and senior leadership.
  • Communicates with partners when discrepancies are identified including recommendations and/or solutions to resolve the potential error.
  • Create and balance reports from the Trust Accounting System with the outside partner firms and the outsourced Trust Operations vendor.
  • Creation and oversight of fee activities that impact areas outside of Trust Operations. These activities include but are not limited to fee reversals/pending fee deletions, miscellaneous fees, external investment advisor fee reporting, fee discounting and fees by situs.
  • Generate Global FX Currency, Global Market Value, and Transactions reporting for impacted business units and transactional databases.
  • Responsible for meeting and/or exceeding SLA requirements for all assigned tasks.
  • Investigate and troubleshoot any discrepancies and provide correction recommendations to leadership.
  • Establishes and maintains effective relationships with both internal and external customers.
  • Acts as a mentor to colleagues within the team providing training, advice, expertise, and guidance, assisting them to the successful completion of their assigned projects.
  • Cross-train and provide backup on all duties within the core team.
  • Timely completion of all enterprise assigned and Comerica Trust specific training activities.
  • Also responsible for training system users (both internal and external) providing workable processes and procedural changes.

About Comerica

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. Your salary will be commensurate with your work experience and our programs are reviewed regularly to ensure each remain competitive. 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.

Upon offer, Comerica conducts a comprehensive background and fingerprint check.

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 into three major business segments; the Commercial Bank, the Retail Bank, and Wealth Management. Comerica's 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.

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