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Director Institutional Fiduciary SVS This position will report to the President of Comerica Trust and is responsible for leading the Institutional Fiduciary Services business (consisting of the Institutional Trust, Custody, Taft Hartley, OCIO, etc.) with the overall objective being to drive growth and profitability in a manner consistent with the values and interest of the organization. Other key responsibilities include ensuring that accounts within the department are administered in accordance with the terms of governing instruments, policies, and procedures, and in accordance with Federal and State laws. This includes:
- Leading teams of relationship managers and support staff to ensure proper client service and long-term retention of relationships.
- Developing relationships with COIs, consultants, etc. to expand their knowledge of Comerica's institutional trust offering.
- Review and interpretation of documents.
- Ensuring proper due diligence of new business prior to account acceptance and ensuring a seamless on-boarding experience for clients.
- Achieving agreed upon financial metrics for revenue and expenses and managing a profitable business unit.
- Coordination of initial and on-going administrative functions.
- Partnering with operational colleagues to ensure excellence in service delivery, and
Monitoring of risk management and compliance activities.
This role is also responsible for strategic planning, directing business initiatives, compliance, budgeting, and staff management for the team. This is a hands-on position that includes interaction with clients and business partners across the organization. Position Responsibilities
- Leads teams of institutional trust relationship managers and support staff that are directly responsible for ensuring client service, retention, and expansions of existing relationships.
- Manages the accurate processing and recordkeeping for all clients, programs, and plans; assures integrity of trust administration.
- Guides key financial partners in assuring bookkeeping and accounting accuracy; examines and resolves complex financial transactions; works closely with client and reporting teams in generating periodic reporting data; drives the SOC-1 review and fund audit efforts to ensure promptness and accuracy.
- Establishes guidelines and standards for productivity and efficiency of the team; tracks and measures against agreed upon service standards; complies with financial and regulatory requirements; serves as key contact for regulatory inquiries and requests; implements and enhances controls, policies and processes that reduce risk.
- Assists the Trust - Fiduciary Services Sales team with new business opportunities. Develops and conducts training to ensure that the sales team is equipped with recent developments in the institutional fiduciary industry. Participates in new product development to ensure that Comerica Trust's offering is in line with the industry. Performs periodic reviews to ensure the profitability of those offerings.
- Responsible for achieving financial metrics for institutional trust, particularly in the areas of revenue and expenses which will be established during the budgetary process. Develop, maintain, and update pricing schedules for the solutions offered that adequately compensate the bank for the risk undertaken. Responsible for ensuring that pricing is reasonable by conducting periodic industry analysis.
- Recruits, selects, trains, and leads employees to meet department objectives. Establishes performance goals, sets expectations, and monitors those results accordingly. Prepares and implements training and development plans for team members. Provide performance feedback, coaching, and counseling to motivate staff to achieve performance standards; takes corrective action when needed.
Position Qualifications
- Bachelors degree from an accredited university in Business Administration, Finance, Accounting, Management, or Trust Administration or Masters degree preferred in Business Administration, Finance, Accounting, Management, or Trust Administration
- Must have Demonstrated expertise by obtaining relevant professional designation(s), such as, CTFA, CAP, CEBS, CRSP, CFP, CFA, etc
- 10 years Experience within the financial services industry, specifically focused in the areas of trust administration, operations and/or relationship management, particularly in the areas of philanthropic or institutional fiduciary services
- 10 years Supervisory experience leading teams of subject matter experts that may be geographically dispersed
Licenses - Certifications
- CEB (Certified Employee Benefits Specialist)
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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Comerica Bank
life insurance, parental leave, paid time off, sick time, 401(k)
Apr 11, 2025