Senior Estate Administrator, WM
Job Location:
Austin, TX - USA
Monthly Salary:
Posted:
Application Deadline:
Vacancies:
Job Summary
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 worlds 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 24000 partners we serve the worlds most sophisticated clients using leading technology and exceptional service.
SENIOR ESTATE ADMINISTRATOR WEALTH MANAGEMENT
OH: R157899
Administers complex sensitive probate estates and taxable trustscontainingsophisticated estate plans sensitive family situations and complex or difficult issuespertaining toinvestment tax legal or other questions. Implements the descendants estate plan in all areas where the bank hasresponsibility.Manages relationships among internal support divisions outside counsel co-fiduciaries beneficiaries and advisors.
Major Duties:
Marshals and administers assets in complexestates and taxable trusts.
2. Decides all substantive questions arising withinthe estate including tax elections use of tax reservesdispositionvaluationand collection of assets raisingof cash resolution of liabilities audits and litigation.
3. Manages accounts which feature sophisticatedestate plans unusual assets complicated will ortrust provisions intricate tax matters significantinvestment decisions and sensitive familysituations.
4. Administers unusual assets such asclosely heldstock investment concentrations large or multiplereal estate holdingsunusual qualifiedplansdeferred compensation agreements and farms.
5. Enables preparation of tax returns (estate giftgeneration-skipping fiduciary and personal incometax) throughlocatingand marshaling assetsarranging for valuation quantifyingexpenses andsecuring and reviewing financial records.
6. Works with internal tax support co-fiduciariesand outside counsel to consider all tax electionsand determineappropriate taxreporting.
7.Advisesinvestment division of all pertinentcircumstances related to cash requirements of estateand investmentobjectivesof beneficiaries. Helpsdevelop and communicate investment programsensuring that all fiduciary requirements are observed.
8. Coordinates thebalancingof account requirementsand customer needs during the estate settlementperiod. Ensures thatappropriate communicationof investment decisions occurs between the bankand interested outside parties.
9. Establishes andmaintainsstrong relationshipswith beneficiaries responding to their needsandobjectives and explaining any issues that arisein the estate. Educates clients on bank productsand services emerging issues and regulatory/taxchanges.
10. Cultivates relationships for expanded businessopportunities with the bank (personal trust NorthernTrust Securities investment management privatebanking etc.).
11. Reviews and implements all fundings anddistributions reviewing all pertinent accountingdocumentation for assigned accounts. Overseespreparation and filing of all necessary courtdocuments.
12. Oversees special tasks including sale of realestate or family business interest disposition ofqualified plan assets coordinating response toestate tax audits andfacilitatingbeneficiariescredit requests.
13. Coordinates response to litigation or initiateslitigation ifappropriate. Coordinates discussionand review of technical tax and legal issuesusing outside counsel in-house legal or taxcounsel and senior administrators.
14. Serves as a resource for the group providingtraining and consultation on estate matters.
The successful candidate willbenefitfrom having the following competencies:
Minimum 8years experiencein estate administrationor personal trust with broad exposure to legal taxinvestment and operational elements.
In additionGraduateJDL.L.M.and/or other related professional designations are stronglydesiredfor this role.
Advanced knowledge of estate planning and tax lawstrust fiduciary income investments real estateaccounting trust operations and current issues withinthe 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 Trusts 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 or alternatively you can discuss your individual requirements with the recruiter you are working with.
Required Experience:
Senior IC
