Sr. Asset Manager, Special Assets – Residential Real Estate

Northern Trust • Chicago, IL

23d

About The Position

Responsible for the management of special assets held in trusts, estates, and agency accounts. Responsibilities include taking possession of the asset, coordinating its management, evaluating its investment potential, recommending the investment policy, and assisting in or handling its sales where necessary. Assigned assets may include highly sensitive account situations and those requiring a high degree of technical knowledge.

Requirements

• 7-10 years of experience in the management of special assets preferred.
• Subject matter specific knowledge of asset management, investment products and fiduciary matters usually acquired through related work experience or formal training is required.
• Analytical, negotiation, organizational, communication and leadership skills are required to effectively manage complex assets and relationships.
• Accounting and financial analysis skills may also be required.

Responsibilities

• Responsible for the management of special assets held in trusts, estates, and agency accounts.
• Responsibilities include taking possession of the asset, coordinating its management, evaluating its investment potential, recommending the investment policy, and assisting in or handling its sales where necessary.
• Assigned assets may include highly sensitive account situations and those requiring a high degree of technical knowledge.
• Develops periodic goals, organizes the work, sets short-term priorities, monitors all activities, and ensures timely and accurate completion of the work.
• Coordinates and completes Annual Investment Reviews and valuations, including the formulation of investment recommendations, and determination of whether is a market for an asset.
• Responsible for the management of a portfolio of complex assets reviewing critical documents and financial data to ensure when possible that asset is performing acceptably.
• Assists in the evaluation and remediation of new assets.
• Work with partners, fiduciaries and third parties to make necessary business decisions regarding the asset.
• Assists in the collection of information necessary for the ongoing asset management and completion of Annual Investment Reviews and may review Annual Investment Reviews prepared by Analysts and/or Asset Managers where appropriate.
• Makes recommendations, receives and reviews appraisals, values assets where necessary.
• Advises account administrators and clients of activities and issues.
• Makes recommendations to the appropriate management committees regarding the suitability of retaining an asset.
• Sells or assists in the sales of assets from fiduciary accounts, when appropriate.
• Ensures that revenues are collected, expenses are paid, proceeds from sales are properly credited, fees collected, and asset is removed from record or documentation.
• Coordinates or assists in the coordination of the execution of all contracts, legal documents and closing documents subject to trust attorney review.
• As required, act as manager, officer and/or director of entities when appropriate and approved by senior management when necessary.
• Monitors newly assigned assets to assure that they are placed on record and coded/valued appropriately.
• Assists with the resolution of audit and regulatory issues as required within agreed timeframes.
• Participates in marketing, business development and prospecting activities as needed.
• As subject area expert, provides comprehensive, in-depth consulting and leadership to team and partners at a high technical level
• Role is balanced between high level operational execution and development, and execution of strategic direction of business function activities

Benefits

• 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.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: No Education Listed
• Number of Employees: 5,001-10,000 employees