Analyst, Special Assets - Family Business 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 Title: Analyst, Special Assets

Northern Trust Wealth Management is seeking an Analyst 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.

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).

Job Description Summary:

Under general supervision, prepares Annual Investment Reviews for assigned assets in accordance with approved review guidelines. Assists Asset Managers and Senior Asset Managers with Annual Investment Reviews, valuations and management of assets. Role is responsible for assisting partners and clients with questions regarding business systems and management of assets.

Major Duties:

• Assists Asset Managers and Senior Asset Managers in the collection of information necessary for the completion of Annual Investment Reviews communicating as necessary with partners and outside third parties.

• Analyzes asset information, which may include review of account information, financial performance, benchmark information, industry information, the market for such asset, etc. in order to assist in the preparation of an Annual Investment Review which will include an investment recommendation.

• Assists Asset Managers and Sr Asset Managers with the collection of fees, payment of expenses and confirmation of insurance where appropriate.

• Works with outside vendors or use approved valuation methodologies when appropriate to estimate the value for each asset as part of the Annual Investment Review.

• Assists partners and clients with questions regarding business systems, management of assets - which may include payment of expenses, collection of revenues - and assists with system development, testing and training as requested.

• Performs compliance functions as directed by division management.

• Completes other administrative functions as needed or requested.

• Assists with the resolution of audit and regulatory issues as required within agreed timeframes.

• Identifies, assesses and escalates compliance issues/concerns to supervisor.

• May have direct interaction with committees and/or Senior Management

• More technically sound in area of expertise and has broader knowledge of other areas

• Delivers a work product that requires less revision

• Able to facilitate discussions and reach decisions

Knowledge:

• Knowledge of specific area of practice useful, usually acquired through formal education or work experience.

• Incumbent must have an understanding of compliance policies and procedures in order to ensure the completeness and adequacy of Annual Investment Reviews and the proper management of assets.

• Analytical and communication skills required to analyze and summarize information and effectively communicate with partners and third parties.

• Organizational skills required to coordinate compliance activities.

Experience:

• A College or University degree and 1-3 years of proven work experience is preferred.

Salary Range:

$52,800 - 79,200 USD

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 of