Senior Estate Administrator, WM

About this role

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 MyHRHel

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