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.

Northern Trust Wealth Management ǀ Senior Asset Manager/Advisor, Family Business Group

Northern Trust Wealth Management is seeking a Senior Asset/Advisor Manager for its Family Business Group.

The Family Business Group consists of 16 professionals, including attorneys, accountants and valuation professionals.  The team manages over 1,000 interests in private businesses held in trusts or estates where Northern Trust has been named trustee or executor, including situations where a trust or estate holds a controlling interest.

Services that the Family Business Group provides to clients with respect to family businesses and closely held entities include:

Evaluate the business’s performance and overall strategic plan

Provide recommendations on ownership and management succession best practices

Oversee and restructure management teams when appropriate

Evaluate offers to purchase and help manage sale processes

Oversee the business valuation process for tax, sale or estate planning purposes

Perform analyses with respect to tax elections and entity conversions

Serve as officers and directors of entities the team manages, when appropriate

Monitors the ongoing perform of the entity versus plan, benchmark, etc.

Additionally, the Family Business Group is responsible for providing fiduciary oversight of the portfolio of private business interests, including supporting the Northern Trust’s regulatory compliance (for example, pre-acceptance screening of assets, asset onboarding, post-acceptance reviews, annual reviews and valuation updates).

Role and Responsibilities:

The position will be responsible for the management of a portfolio of complex privately owned business interests (corporations, partnerships and LLC’s) held in trust and estate accounts. Key tasks include:

Performing due diligence on closely held entities as part of the new business acceptance process

Completing post-acceptance and annual asset reviews including a review of financial and operating performance, calculating an estimate of market value and making a sale/retention recommendation

Retaining and overseeing a third-party valuation professional when a formal business valuation is required

Serving as an officer and/or director of assigned entities, when necessary

Responding to corporate actions for assigned assets including proxy notices, tender offers, etc.

Participating in meetings and calls with the management team and advisors of an assigned business entity as well as clients and trust beneficiaries

Coordinating with client service teams in the management of client relationships with respect to assigned business interests

Qualifications:

The successful candidate will have a broad understanding of a variety of business disciplines including: accounting, finance, tax, general management, business law, estate planning, business valuation, risk management, fiduciary oversight, etc.  and possess in-depth working knowledge in one or more of these areas.  This position will entail significant interaction with clients and/or their advisors.

Experience: 

7-10 years of related work experience.

Education:

BS/BA required, advanced degree and/or a professional designation are preferred.

Other Requirements:

Strong working knowledge of Microsoft Word, Excel, PowerPoint

Effective oral and written communication skills

Consultative and problem resolution skills

Ability to work independently on assigned assets as well as cooperate on team initiatives

Confident, self-directed and able to prioritize and multi-task

Some travel may be required

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 MyHRHelp@ntrs.com.

 
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.