ESCROW - 1031 ANALYST
This position functions on behalf of Business Deposit Services operations and relationship management teams as a liaison between the customer, operations, and other areas of the bank (legal, trust, treasury management, retail, etc.) to implement escrow and 1031 accounts, as well as other business deposit services. The primary goal of the Escrow Analyst is to complete the on-board/off-board, annual reviews, scheduled/unscheduled disbursements and other relationship lifecycle events under the Escrow/1031 agreements.
Position Responsibilities
- On-board new clients to ensure consistent client delivery from first client contact through completion of on-board process; including account opening, handling of account documentation and agreements, service coordination with partnering departments, building necessary revenue tracking and/or interest reporting activities.
- Off-board clients by closing accounts and/or escrow services through coordination with client, escrow officer and related operational areas.
- Legal coordination -- act in liaison capacity to coordinate escrow and other agreements between client, Comerica legal representation and the assigned relationship officer. Ensure all proper compliance including AML/OFAC/CIP when processing legal agreements, prior to account opening and/or account maintenance.
- Coordinate escrow account documentation and complete extensive review of client account documentation to ensure accuracy, audit and bank regulatory compliance standards are met.
- Ensure account documentation and legal files (both paper and electronic) are current and in line with bank audit and regulatory compliance requirements.
- Responsible for creating account processing procedures and assisting department management with annual and ad hoc audit activities.
- Complete annual reviews for Escrow clients and assist BDS Relationship Managers with annual relationship reviews for other key BDS accounts.
- Proficiency in Microsoft Office including Word and Excel.
- Proficiency with bank systems and procedures, i.e., Hogan, ECIS, Account Analysis, TriO, account reconcilement and online wire transfer origination applications.
- Clear understanding of CIP/AML/OFAC and other regulatory requirements affecting account opening process and ongoing account servicing.
- Clear understanding of accounting process affecting deposits, disbursements and interest posting.
- Ability to analyze, organize, prioritize, and work under pressure, while managing time meeting tight escrow closing and other multiple deadlines.
Position Qualifications
- Associates Degree or minimum of 3 years relative experience
- 4 years of customer service interaction and/or call center experience
- 4 years of banking or financial service experience, including client transactions and research
- 4 years creating and executing internal and external business correspondence
- 3 years deposit products and related application experience including Hogan, Trio and Check Image
- 2 years working with OFAC/AML/KYC requirements related to bank accounts
- 2 years of utilizing Microsoft Office Products including Word and Excel and SharePoint
Work Best Category
Category B - 3-4 days in office on designated days/1-2 days remote
Hours
8:00am - 5:00pm Monday - Friday
Salary
To Be Determined Based on Individual Experience
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. Your fingerprints will be used to check the criminal history records of the FBI and may be subscribed in the FBI’s Record of Arrest and Prosecution Background (“RAP Back”) service, which provides ongoing notification to the Company of any updates to your criminal history.
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 – disability/veteran.
