Sr. Estate Administrator

Sr. Estate Administrator

• Marshals and administers assets in complex estates and taxable trusts.

• 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.

• Manages accounts which feature sophisticated estate plans, unusual assets, complicated will or trust provisions, intricate tax matters, significant investment decisions, and sensitive family situations.

• Administers unusual assets, such as closely-held stock, investment concentrations, large or multiple real estate holdings, unusual qualified plans, deferred compensation agreements, and farms.

• 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.

• Works with internal tax support, co-fiduciaries, and outside counsel to consider all tax elections and determine appropriate tax reporting.

• 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.

• 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.

• 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.

• Cultivates relationships for expanded business opportunities with the bank (personal trust, Northern Trust Securities, investment management, private banking, etc.).

• Reviews and implements all fundings and distributions, reviewing all pertinent accounting documentation for assigned accounts. Oversees preparation and filing of all necessary court documents.

• 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.

• 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.

• Serves as a resource for the group, providing training and consultation on estate matters.

Knowledge: Advanced knowledge of estate planning and tax laws, trust, fiduciary income, investments, real estate, accounting, trust operations, and current issues within the field such as

Experience: Minimum 8 years experience in estate administration or personal trust, with broad exposure to legal, tax, investment, and operational elements required.

Salary Range:

• $158,010 - 276,460 USD

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.

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

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 discuss your individual requirements with the recruiter you are working with.

About Us

Looking for greater? You found it.

A global financial leader with more than 22,000 employees in 23 locations worldwide, Northern Trust empowers our employees to achieve more than just business goals. Our focus on work-life balance, career mobility and unique opportunities are just a few of the reasons we’ve been named one of the world’s most admired companies.

Notes

This description reflects the current requirements of the role and may be subject to change at any time.

The above information describes the general responsibilities of the position. It does not include all duties, responsibilities, or qualifications of the role.

Industry

Finance