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.
Top Skills
What We Do
Comerica Incorporated (NYSE: CMA) is a financial services company headquartered in Dallas, Texas, strategically aligned by the Business Bank, the Retail Bank, and Wealth Management. The Business Bank provides companies of all sizes with an array of credit and non-credit financial products and services. The Retail Bank delivers personalized financial products and services to consumers. Wealth Management serves the needs of high net worth clients and institutions.
Comerica’s approximately 8,000 colleagues focus on relationships, and helping people and businesses be successful. Comerica operates in seven of the 10 largest U.S. cities, with more than 430 banking centers in its primary markets of Texas, Arizona, California, Florida and Michigan. Select businesses operate in several other states, as well as in Canada and Mexico. Comerica is among the 25 largest U.S. banking companies.
Visit Comerica's Facebook page at facebook.com/Comerica or on Twitter at @ComericaBank for more information on how Comerica is making a positive difference in the communities it serves.
To learn more about Comerica’s products, services and career opportunities, visit Comerica.com.
