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Trust Reporting and Reconciliation Analyst
Detroit, MI
Job Description
Trust Accounting, Reconciliation, and Regulatory Reporting
Primarily responsible for the creation, meaningful assessment, and distribution of financial and regulatory reports. Provide direct oversight of report and reconciliation functions to ensure accuracy and completeness. Provides initial assessment of aging exceptions and directing of research and corrective action where appropriate. Handle inquires received from Finance, Senior Leadership, Internal Audit, and Corporate Compliance.
Position Responsibilities:
Accounting, Reconciliation, and Reg Reporting
- 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.
- 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.
- Collect and monitor reconciliations for completeness and accuracy.
- Develop and/or implement procedures and procedural improvements related to assigned business tasks.
Customer Service/Support
- Establishes and maintains effective relationships with both internal and external customers.
- Problem identification and resolution.
Training
- 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.
- Also responsible for training system users (both internal and external) providing workable processes and procedural changes.
Minimum required qualifications:
- Bachelor's degree in Finance, Accounting, data analytics or > 10 years' experience within Wealth/Trust Operations
- Strong PC skills with an emphasis on Microsoft Office, common banking systems and trust service platforms
- Effective verbal and written communication skills
- Established accounting knowledge with an emphasis on cash flow and accrual accounting and reconciliation concepts
- Experience working with internal and external auditors
- Demonstrated ability to mine and transform data into meaningful and accurate reporting using Microsoft SQL, Microsoft Power BI or similar roles
Preferred/desirable qualifications:
- Advanced degree and/or certifications in accounting
- Experience with completing regulatory reporting associated with a standard Wealth/Trust program (i.e. RC-T; TIC; SHLA; etc.)
- Experience in data traceability/data lineage programs
- Experience in DDA, General Ledger and Trust System Suspense account reconciliation
- Experience with leading small teams and/or projects
- Analytical skills that can help document functional needs and transform into system requirements
Comerica is proud to be an Equal Opportunity Employer - veterans/individuals with disabilities, committed to workplace diversity.
Job Summary
Start Date
As soon as possible
Employment Term and Type
Regular, Full Time
Required Education
Bachelor's Degree
Required Experience
10+ years
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