Estate Admintr
For more than a century, Northern Trust has worked hard building our legacy of outstanding service, expertise and integrity. From a Chicago-based bank founded in 1889, we now have more than 20 international locations and 16,500 employees globally. We serve the world's most-sophisticated clients from sovereign wealth funds and the wealthiest individuals and families, to the most-successful hedge funds and corporate brands.
We burnished our reputation as a global leader delivering innovative investment management, asset and fund administration, fiduciary and banking solutions enabled by sophisticated, leading technology. And through it all, we continually laid a solid, forward-looking foundation on which future generations can continue growing and achieving greater.
December 31, 2016, Northern Trust Corporation had:
$124 billion in banking assets
$6.7 trillion in assets under custody
$8.5 trillion in assets under custody/administration
$942 billion in assets under management
The key responsibilities of the role include:
This position is responsible for all aspects of the administration of probates, estates and taxable trusts whereby the bank has been named in a fiduciary capacity. Implements decedents'' estate plans in all areas where the bank has responsibility. Manages relationships among internal support divisions, outside counsel, co-fiduciaries, beneficiaries, and advisors.
Duties include but are not limited to:
1. Marshals and administers assets in probates, 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. Functions as the decision point for virtually every estate issue that arises in asset management, tax compliance, tax planning, fundings, distributions, and tax audits. Articulates the logic of these decisions to all appropriate parties.
4. Works with internal tax support, co-fiduciaries, and outside counsel to consider all tax elections and determine the most appropriate tax reporting.
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. Works closely with internal and external tax preparers on the completion of all related tax returns.
6. Advises investment division of all pertinent circumstances related to cash requirements of estate and investment objectives of beneficiaries.
7. 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.
8. Ensures that all fiduciary requirements and restrictions pertaining to investments are observed during the settlement process.
9. Establishes and maintains strong relationship with beneficiaries responding to their needs and explaining 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. Plans, reviews, and implements all fundings and distributions including coordinating the input of co-fiduciaries, beneficiaries, investment division, tax division, and others. Reviews all accounting documentation pursuant to fundings or distributions.
12. Oversees special tasks, including sale of real estate or family business interest, disposition of qualified plan assets, coordinating response to estate tax audit, and facilitating beneficiaries'' credit requests.
13. Coordinates discussion and review of technical tax, investment, and legal issues using outside counsel, in-house legal or tax counsel, and senior administrators as resources in reaching a decision.
Minimum 5 years -experience in estate administration or personal trust, with exposure to legal, tax, investment, and operational elements. Knowledge of estate planning and tax laws, trust, fiduciary income, investments, real estate, basic accounting, trust operations, and current issues within the field such as generation-skipping and environmental liability usually acquired through formal education in law or related field and work experience is required to implement estate plans. Analytical and organizational skills are required to translate complex client problems into concrete account situations when processes are not established. Negotiating skills are required to mediate conflict.
. Apply now!Estimated Salary: $20 to $28 per hour based on qualifications.
We burnished our reputation as a global leader delivering innovative investment management, asset and fund administration, fiduciary and banking solutions enabled by sophisticated, leading technology. And through it all, we continually laid a solid, forward-looking foundation on which future generations can continue growing and achieving greater.
December 31, 2016, Northern Trust Corporation had:
$124 billion in banking assets
$6.7 trillion in assets under custody
$8.5 trillion in assets under custody/administration
$942 billion in assets under management
The key responsibilities of the role include:
This position is responsible for all aspects of the administration of probates, estates and taxable trusts whereby the bank has been named in a fiduciary capacity. Implements decedents'' estate plans in all areas where the bank has responsibility. Manages relationships among internal support divisions, outside counsel, co-fiduciaries, beneficiaries, and advisors.
Duties include but are not limited to:
1. Marshals and administers assets in probates, 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. Functions as the decision point for virtually every estate issue that arises in asset management, tax compliance, tax planning, fundings, distributions, and tax audits. Articulates the logic of these decisions to all appropriate parties.
4. Works with internal tax support, co-fiduciaries, and outside counsel to consider all tax elections and determine the most appropriate tax reporting.
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. Works closely with internal and external tax preparers on the completion of all related tax returns.
6. Advises investment division of all pertinent circumstances related to cash requirements of estate and investment objectives of beneficiaries.
7. 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.
8. Ensures that all fiduciary requirements and restrictions pertaining to investments are observed during the settlement process.
9. Establishes and maintains strong relationship with beneficiaries responding to their needs and explaining 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. Plans, reviews, and implements all fundings and distributions including coordinating the input of co-fiduciaries, beneficiaries, investment division, tax division, and others. Reviews all accounting documentation pursuant to fundings or distributions.
12. Oversees special tasks, including sale of real estate or family business interest, disposition of qualified plan assets, coordinating response to estate tax audit, and facilitating beneficiaries'' credit requests.
13. Coordinates discussion and review of technical tax, investment, and legal issues using outside counsel, in-house legal or tax counsel, and senior administrators as resources in reaching a decision.
Minimum 5 years -experience in estate administration or personal trust, with exposure to legal, tax, investment, and operational elements. Knowledge of estate planning and tax laws, trust, fiduciary income, investments, real estate, basic accounting, trust operations, and current issues within the field such as generation-skipping and environmental liability usually acquired through formal education in law or related field and work experience is required to implement estate plans. Analytical and organizational skills are required to translate complex client problems into concrete account situations when processes are not established. Negotiating skills are required to mediate conflict.
. Apply now!Estimated Salary: $20 to $28 per hour based on qualifications.
|
|
 | |
