Associate Special Assets Manager – Energy & Minerals Management Group

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.

Job Posting Title: Associate Special Assets Manager – Energy & Minerals Management Group

About the Energy & Minerals Management Group:

The Energy & Minerals Management Group (EMM Group) consists of 15 professionals, including certified professional landmen, oil and gas attorneys, and petroleum engineers with over 120 years of collective experience in the oil and gas industry.  The team manages over 20,000 oil, gas and mineral interests held in trusts or estates where Northern Trust has been named trustee or executor.  The team is structured similar to a non-operating production company, including division order analysts and operational staff.

• Services that the EMM Group provides to clients include:

• Conducting annual performance reviews and investment oversight

• Negotiating leases, farmout agreements, gas purchase contracts and related proposals

• Proactively mitigating the risks of drilling and production activities

• Evaluating the costs and benefits of investment proposals for capital projects

• Monitoring working interest expenses and payment of joint interest bills

• Performing technical evaluations of drilling and workover proposals

• Conducting title research and identification of assets held in trust and agency accounts

• Collecting revenue and tracking monthly production income

• Reviewing and paying ad valorem taxes

Job Description Summary:

Responsible for the management of various types of assets held in trusts, estates and agency accounts, including taking possession of the asset, coordinating its management, evaluating its investment potential, recommending the investment policy, and assisting in or handling the sale.  Support Asset Managers and Sr. Asset Managers with various assignments. Uses specific knowledge of a discipline to achieve goals through own work. Has specific knowledge or expertise typically gained through formal education or equivalent experience. Uses expertise to provide guidance to others as a project manager or consultant. Requires conceptual knowledge of theories, practices, and procedures within a job discipline. Performs routine assignments using existing procedures. Receives instruction, guidance and direction from more senior level roles.

Major Duties:

• Responsible for management of oil, gas and mineral assets held in trusts, estates, agency accounts, or corporate entities

• Review and approve payment of ad valorem taxes

• Perform annual reviews on client accounts

• Responsible for negotiating oil and gas leases, and managing the development of oil and gas assets

• Completes and reviews investment reviews of assets including formulating investment recommendations, determining valuations for fee purposes, and determining whether a market exists for the asset.

• With oversight and guidance from manager, makes recommendations to the appropriate management committees regarding the suitability of retaining the asset.

• Monitors newly assigned assets to assure that they are placed on record, coded correctly and valued appropriately.

• Works closely with and responds promptly to partners in various areas with respect to the management and/or sale of the asset.

• Completes administrative functions as needed or requested.

• Oversees in conjunction with co-fiduciaries, other partners and outside owners, the sale or distribution of the asset where appropriate.

• Uses existing procedures to solve standard problems; analyzes information and standard practices to make judgments

• Works within standardized procedures and practices to achieve objectives and meet deadlines

Knowledge:

• Basic knowledge of the types of assets to be managed usually acquired through related work experience or four year degree program.

• Analytical, organizational and communication skills are required to manage, review and/or sell the various types of assets.

• Requires conceptual knowledge of theories, practices