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: Asset Manager, Commercial Real Estate (Special Assets)

Job Description Summary:

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.

Major Duties:

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

Knowledge:

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.

Experience:

7-10 years of experience in the management of special assets preferred.

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.