Captive Portfolio Administrator bei Comerica Bank
Comerica Bank · Detroit, Vereinigte Staaten Von Amerika · Onsite
- Optionales Büro in Detroit
Position Summary
- Run and analyze daily collateral reports, identify issues and follow up and resolve customer out of compliance situations.
- Approve releases of collateral from custody or business money market accounts and approve swap out of assets.
- Review RECAPs and update collateral system with any changes to facility amount, eligible collateral, advance rates, beneficiaries, etc.
- Ensure proper cash holds are in place on DDAs and money market accounts pledged as collateral and with each new L/C issuance or amendment.
- Partner with Financial Institutions Group to ensure sufficient credit lines are in place.
- Review and negotiate L/C specimen language with attorneys and customer's captive managers.
- Monitor non-renewals and take appropriate action with customers.
- Follow up on rescind letters and work with customers to draw on incoming L/Cs as necessary. Notify customers of details for every incoming L/C issuance and amendment.
- Handle daily requests from customers.
- Provide customers with collateral reports and deposit statements.
- Participate in customer calls as needed.
- Cross sell Treasury Management and additional custody products.
- Ensure L/C and Legal invoices are paid.
- Monitor L/C open A/R report and Uncollected L/C Fee Report. Follow up on past due invoices. Obtain approval from customer to debit DDA or Custody accounts as necessary.
- Process transfers among internal accounts to pay fees, cover collateral shortfalls, etc.
- Open accounts (DDAs, PBMMs, CDs, etc.) for offshore customers in the Cayman branch.
- Work with PALS to open accounts for onshore customers.
- Scan offshore statements to customers monthly.
- Review and print out evidence of cash holds on DDAs held as collateral.
- Prepare Capital Friendly Collateral Report quarterly for FR Y-9C filing for Controller and submit with regulatory reporting disclosure checklist.
- Conduct Quality Assurance Self Audits 3 times per year on AML/KYC for new accounts.
- Work directly with auditors (internal, AQR, AML, Federal Examiners, etc.) and recommend and update procedures as necessary.
- Participate in FATCA/Tax Compliance task force, Business Bank Compliance, SQN Document Imaging and other meetings as necessary.
- Complete L/C audit confirmations for both customer and beneficiary auditors.
- Review both L/C and DDA legal documents for proper execution. Complete checklists and maintain originals documents in files.
- Complete required due diligence including running world checks on all signers and beneficial owners.
- Gather projected activity information and work closely with AML to identify any suspicious activity.