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About Northern Trust
As a global leader in innovative wealth management, asset servicing, asset management and banking services, Northern Trust (Nasdaq: NTRS) is proud to guide the world’s most successful individuals, families, corporations and institutions.
Since 1889, we have aligned our efforts with our three guiding Principles That Endure: Service, Expertise, and Integrity. Together, they reflect the three cornerstones of business conduct which we strive to instill in our employees, whom we call partners, and to provide to our clients and the communities we serve worldwide.
With more than 135 years of financial experience and over 24,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.
SENIOR ESTATE ADMINISTRATOR, WEALTH MANAGEMENT
OH: R157899
Administers complex, sensitive probate estates and taxable trusts containing sophisticated estate plans, sensitive family situations, and complex or difficult issues pertaining to investment, tax, legal, or other questions. Implements the descendant's estate plan in all areas where the bank has responsibility. Manages relationships among internal support divisions, outside counsel, co-fiduciaries, beneficiaries, and advisors.
Major Duties:
Marshals and administers assets in complex estates and taxable trusts.
2. Decides all substantive questions arising within the estate including tax elections, use of tax reserves, disposition, valuation and collection of assets, raising of cash, resolution of liabilities, audits, and litigation.
3. Manages accounts which feature sophisticated estate plans, unusual assets, complicated will or trust provisions, intricate tax matters, significant investment decisions, and sensitive family situations.
4. Administers unusual assets, such as closely held stock, investment concentrations, large or multiple real estate holdings, unusual, qualified plans, deferred compensation agreements, and farms.
5. Enables preparation of tax returns (estate, gift, generation-skipping, fiduciary, and personal income tax) through locating and marshaling assets, arranging for valuation, quantifying expenses, and securing and reviewing financial records.
6. Works with internal tax support, co-fiduciaries, and outside counsel to consider all tax elections and determine appropriate tax reporting.
7. Advises investment division of all pertinent circumstances related to cash requirements of estate and investment objectives of beneficiaries. Helps develop and communicate investment programs, ensuring that all fiduciary requirements are observed.
8. Coordinates the balancing of account requirements and customer needs during the estate settlement period. Ensures that appropriate communication of investment decisions occurs between the bank and interested outside parties.
9. Establishes and maintains strong relationships with beneficiaries responding to their needs and objectives and explaining any issues that arise in the estate. Educates clients on bank products and services, emerging issues, and regulatory/tax changes.
10. Cultivates relationships for expanded business opportunities with the bank (personal trust, Northern Trust Securities, investment management, private banking, etc.).
11. Reviews and implements all fundings and distributions, reviewing all pertinent accounting documentation for assigned accounts. Oversees preparation and filing of all necessary court documents.
12. Oversees special tasks, including sale of real estate or family business interest, disposition of qualified plan assets, coordinating response to estate tax audits, and facilitating beneficiaries' credit requests.
13. Coordinates response to litigation or initiates litigation if appropriate. Coordinates discussion and review of technical tax and legal issues, using outside counsel, in-house legal or tax counsel, and senior administrators.
14. Serves as a resource for the group, providing training and consultation on estate matters.
The successful candidate will benefit from having the following competencies:
Minimum 8 years’ experience in estate administration or personal trust, with broad exposure to legal, tax, investment, and operational elements required.
In addition, Graduate, JD, L.L.M. and/or other related professional designations are strongly desired for this role.
Advanced knowledge of estate planning and tax laws, trust, fiduciary income, investments, real estate, accounting, trust operations, and current issues within the field.
Work Authorization
Applicants must be authorized to work in the U.S. without the need for employment-based visa sponsorship now or in the future. Northern Trust will not sponsor applicants for U.S. work visa status for this opportunity (no sponsorship is available for H-1B, L-1, TN, O-1, E-3, H-1B1, F-1, J-1, OPT, CPT or any other employment-based visa).
Working with Us
As a Northern Trust partner, you will be part of a flexible and collaborative work culture, which has a strong history of financial strength and stability. Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to an inclusive workplace and assisting the communities we serve.
Philanthropy is deeply rooted in Northern Trust’s history and is an essential element of our culture. Employees around the world give their time and talent to work for the greater good of their communities.
Reasonable Accommodation
Northern Trust is committed to working with and providing adjustments to individuals with health conditions and disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at MyHRHelp@ntrs.com, or alternatively you can discuss your individual requirements with the recruiter you are working with.