Sr. Estate Administrator

Northern Trust Corp.; New York (NY); On-site; USD 158,000 - 276,000; Full time

Job summary

Northern Trust Corp. in the United States seeks an experienced estate administrator to marshal assets, manage trusts, and coordinate tax reporting for complex estates.

You will advise on investment objectives, collaborate with internal teams, prepare court documents, and maintain strong client relationships while navigating fiduciary duties.

Qualifications

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

Responsibilities

• Marshals and administers assets in complex estates and trusts.
• Decides tax elections, reserves, valuations, cash needs and liabilities.
• Maintains relationships with beneficiaries and coordinates communications.
• Prepares and reviews tax returns (estate, gift, generation-skipping, fiduciary).
• Coordinates estate funding, distributions, and court filings.
• Works with internal and external counsel on tax elections and reporting.

Skills

Estate administration

Tax law

Fiduciary income

Investment knowledge

Job description

About Northern TrustAs 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.Major Duties :1. Marshals and administers assets in complexestates and taxable trusts.2. Decides all substantive questions arising withinthe estate including tax elections, use of tax reserves,disposition, valuation and 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 as closely-heldstock, investment concentrations, large or multiplereal estate holdings, unusual qualified plans,deferred compensation agreements, and farms.5. Enables preparation of tax returns (estate, gift,generation-skipping, fiduciary, and personal incometax) 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 electionsand determine appropriate tax reporting.7. Advises investment division of all pertinentcircumstances related to cash requirements of estateand investment objectives of beneficiaries. Helpsdevelop and communicate investment programs,ensuring that all fiduciary requirements are observed.8. Coordinates the balancing of account requirementsand customer needs during the estate settlementperiod. Ensures that appropriate communicationof investment decisions occurs between the bankand interested outside parties.9. Establishes and maintains strong relationshipswith beneficiaries responding to their needs andobjectives, 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, and facilitating beneficiaries''credit requests.13. Coordinates response to litigation or initiateslitigation if appropriate. Coordinates discussionand review of technical tax and legal issues,using outside counsel, in-house legal or taxcounsel, and senior administrators.14. Serves as a resource for the group, providingtraining 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 withinthe field such asExperience :Minimum 8 years experience in estate administrationor personal trust, with broad exposure to legal, tax,investment, and operational elements required.Salary Range:$158,010 - 276,460 USDSalary 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 AuthorizationApplicants 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 UsAs 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 AccommodationNorthern 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 [e-mail], or alternatively you can discuss your individual requirements with the recruiter you are working with.