Senior Estate Administrator

About Northern Trust:

Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution that has been in continuous operation since 1889.  

Northern Trust is proud to provide innovative financial services and guidance to the world’s most successful individuals, families, and institutions by remaining true to our enduring principles of service, expertise, and integrity. With more than 130 years of financial experience and over 22,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.

SENIOR ESTATE ADMINISTRATOR

OH: R142472

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:

1. 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.
• Undergraduate, Graduate, JD & CFP or other professional designation is strongly preferred.  
• Advanced knowledge of estate planning and tax laws, trust, fiduciary income, investments, real estate, accounting, trust operations, and current issues within
  the field.
• Specific experience with fiduciary accounts and issues required to service complex relationships.
• Technical knowledge of investments, tax, legal, and operations usually acquired through formal education or related experience is required to service clients.
• Extensive knowledge of fiduciary standards, principles, and applicable laws and regulations usually acquired through training, seminars, or law school is required to administer accounts.
• Skills in negotiating, problem solving, delegating, leadership, and sales are necessary to service the client relationship.
• Leadership and organizational skills are required to determine the Business Unit's goals.
• Interprets internal/external business challenges and recommends best practices to improve products, processes or services.

Salary Range:

Salary range is a good faith estimate of base pay. Northern Trust provides a comprehensive benefits package including retirement benefits (401k and pension), health and welfare benefits (medical, dental, vision, spending accounts and disability), paid time off, parental and caregiver leave, life & accident insurance, and other voluntary and well-being benefits. Northern Trust also provides a discretionary bonus program that may include an equity component.

Working with Us: 

As a Northern Trust partner, greater achievements await. You will be part of a flexible and collaborative work culture in an organization where financial strength and stability is an asset that emboldens us to explore new ideas.

Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to assisting the communities we serve! Join a workplace with a greater purpose.

We’d love to learn more about how your interests and experience could be a fit with one of the world’s most admired and sustainable companies! Build your career with us and apply today. #MadeForGreater 

Reasonable accommodation

Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at [email protected].

 
We hope you’re excited about the role and the opportunity to work with us. We value an inclusive workplace and understand flexibility means different things to different people.

Apply today and talk to us about your flexible working requirements and together we can achieve greater.