1031 Escrow Analyst

1 week ago

Farmington Hills, Michigan, United States Comerica Bank Full time $60,000 - $120,000 per year
ESCROW 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.

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