Institutional Administrator Associate

About Working at Commerce

Wouldn't it be great to build your career at a bank that's known for helping people with their financial challenges? That's exactly what you'd be doing when you join the team at Commerce Bank. We're looking for teammates who are ready to do whatever it takes to help our customers with their everyday financial needs. You'd be helping yourself too, because Commerce has a tradition of recognizing and rewarding team members for their talent, skills and contributions.

No wonder we've been an industry leader for over 150 years and have developed a reputation as a great place to work in the financial services world. If you'd like to be a part of a team and culture that is respected by its peers and in your community, we should talk. We're always looking for the best and brightest.

About This Job

The primary responsibility of the Institutional Administrator Associate is the support of our Institutional Administrators ("IA"s) who are accountable for the delivery of investment management advisory services to Institutional clients of Commerce Trust Company ("CTC"). This position provides for the training and opportunity for the candidate if desired to transition into an IA role and allows CTC to develop and retain top talent and create depth within the organization for future growth and expansion.

The Associates perform service and fulfillment activities to meet the needs and expectations of CTC clients on a daily basis. As fiduciary and investment management experts the Associate acts as an additional point of contact within the client relationship team for clients and/or as a backup for client-facing IA's. They provide high level administrative client service and support (assistance with all aspects of account administration, document review and interpretation, fund transfers, discretionary actions within fiduciary engagements, coordination of documents needed for special services, and client satisfaction and retention) to IA's and other client relationship team members. The Associate may also directly oversee responsibilities of an Administrative Assistant if working under a tiered support relationship model.

A key focus of the position is to reduce the time spent by the IA on administrative, operational and compliance issues, so that the IA can devote more time to business retention and development. Additionally, the Associate will take initiative in identifying opportunities for expansion of relationships with existing clients and bringing the opportunities to the attention of the IA.

Essential Functions

• Oversee and complete certain retirement and/or nonprofit administrative services including client, pensioner and/or donor communication, when required
• Identify problems, their resolution and communication with the client where appropriate
• Interact with Middle Office to be sure that client bill payment set up and asset movement is handled correctly
• Independently resolve operational issues to ensure accuracy of account activity and client reporting for informational and tax purposes
• Interact directly with clients on service and administrative issues independent of IA
• Identify new products or services that may be appropriate for clients
• Complete periodic account reviews to ensure compliance with Federal and State regulations governing fiduciary practices of financial institutions
• Review and prepare documentation associated with fee discounts and their renewal
• Establish lump sum pension payments, periodic pension payment and charitable gift payments for review by assigned IA. Ensure clients, donors and payees receive appropriate reporting, as well as year-end tax documents
• Participate in client meetings with IA to support ongoing development of client relationship and implementation and delivery of services
• Participate in internal planning meetings to support targeted strategy
• Serve as additional point of contact for the IA and proactively identify needs and solutions for client on an independent basis
• Track and document client activities in CRM
• Prepare presentation materials to assist IA with client meeting preparation
• Perform other duties as assigned

Work Schedule: Monday - Friday: 8:00am - 5:00pm

Knowledge, Skills & Abilities Required

• Working knowledge of complex issues such as ERISA Regulations, the Uniform Prudent Management of Institutional Funds Act, Charitable Giving Strategies, and the impact on the administration of client accounts
• Ability to learn the types of clients served by Institutional Trust and the investment and custodial services offered, along with the distinct understanding of the goals and objectives associated with each
• Strong customer service skills
• Positive attitude and ability to work independently to accomplish job responsibilities with minimal supervision
• Motivated and organized self-starter with strong attention to detail and the ability to manage multiple priorities
• Inquisitive, agile and strong team player with excellent written, verbal and interpersonal communication skills
• Ability to remain adaptable and resilient to all situations with an optimistic outlook and cast a positive shadow that is aligned with our culture and Core Values
• Intermediate level proficiency with Microsoft Word, Excel and Outlook

Education & Experience

• Bachelor's Degree or equivalent combination of education and experience required
• 3+ years experience providing high level client service in a similar role, Wealth Management, Private Banking, Financial Planning preferred

Location: 1000 Walnut St, Kansas City, Missouri 64106

Time Type:
Full time