Job Description

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.

Summary

Operates under general supervision but works on own most of the time. Serves on large and/or complex projects. Technically competent to act as first point of reference for day-to-day queries, and serves as a liaison to related areas. Has both broad and in-depth knowledge in chosen field, plus strong knowledge of related areas. Carries out relatively complex, extensive, high profile activities e.g. direct interaction with committees and more senior management. Demonstrates excellent analytical, consultative, communication and judgment skills. May lead projects and/or train lower-level staff. Focuses on maintenance and implementation of policies and procedures in the function, building towards becoming an area expert.

Department Overview:

Private Capital Administration provides third-party clients with comprehensive administration, financial accounting, and investor reporting services for their funds. Fund products supported include venture capital, buyout, mezzanine, life sciences, secondaries, fund of funds. Services include assistance with investment and divestment execution, investor drawdown and distributions, financial reporting and investor reporting.
The Private Capital Accountant operates under general supervision but works independently most of the time. Candidate will serve on large and/or complex projects as requested. Must be technically competent to act as first point of reference for day-to-day queries while serving as a liaison to related areas. Have both broad and in-depth knowledge in chosen field, plus strong knowledge of related areas. Carries out relatively complex, extensive, high profile activities e.g. direct interaction with committees and more senior management. Demonstrates excellent analytical, consultative and communication and judgment skills. May lead projects and/or train lower-level staff. Focus on maintenance and implementation of policies and procedures in the function while building towards becoming a stronger area expert.

Working Model: Hybrid

We have a balanced hybrid working model to ensure you get the flexibility you need, and the successful candidate will spend their time between working in the office and working from home.

Knowledge/Skills:

This position is technical and service oriented. Knowledge of private equity fund products and services for specified area, usually obtained through training or related work experience, is required to service clients. Communication and negotiation skills are required to ensure client satisfaction. Analytical skills are required to research and resolve problems. Leadership and organizational skills are needed to prioritize complex assignments and demonstrate technical knowledge.

Major Duties:

- Establishes & cultivates working relationship with clients, external legal and accounting firm relationships and internal partners.
- Carry out relatively complex, extensive, high profile transactions surrounding all PE Fund activity e.g. capital calls, distributions, investment purchases, divestments, carried interest calculations, expenses, income, gains, fees, etc. ensuring they are executed according to standard policies and procedures. This may also require direct interaction with committees and more senior management.
- Be technically competent to act as first point of reference for day-to-day queries while performing review/verification/accounting/audit processes (daily and periodic) accurately.
- Search for ways to eliminate recurring problems/issues as they arise.
- Ensure all daily or periodic tasks are completed according to client specific administration & service level agreements.
- Ensure work-flows, files, and back up coverage are setup and maintained within guidelines
- Prepare, validate and/or assist in the preparation of PE accounts, PE reporting, financial statements, financial audit reporting and/or specific client reporting, including, but not limited to, accruals, monthly, quarterly, and/ or annual tax/financials packages for fund, portfolio company level and LP investor reporting as per administration & service level agreements.
- Analyze, research, and ensure appropriate reconciliations surrounding PE investment activity/data i.e. bank accounts, expenses, income, gains, withholding are completed accurately and timely. Ensure all financial reporting/information to clients/investors is reviewed, validated for accuracy prior to dissemination.
- Utilize all department systems as required to complete daily and periodic functions including, but not limited to; Investran (Accounting, Portfolio and Investor Manager, RM Contact, Report wizard, Reporting Services), Yardi, Partner Pxssport, Treasury Passport, SharePoint, ERM, Scanner, Microsoft Excel/Access/Word.
- Coordinate, participate, and /or lead projects/ training presentations regarding area’s products and services with clients and partners in-house and/or on-site. Conduct on-the-job training with staff.
- Monitor and validate account set up, maintenance and service for accuracy and completeness. Review all bespoke, non-standard procedures for account processing.
- Provide input to management reporting on transactions, including statistics on volume, productivity as well as any new client specific business development, service and sensitivity issues on a regular basis.
- Lead/participate in implementing new technology and efficiency initiatives/projects as needed.

-#LI-GG1

-#LI-Hybr

Qualifications:

- 2-3+ years of staff accounting experience and/or private equity fund accounting/administration experience is preferred with a minimum of 2 years client servicing or related experience.
- Experience with real estate industry clients preferred
- We are looking for individuals who have the ability to work effectively in a team environment, exhibiting initiative, leadership, and flexibility.
- The ideal candidate will have a formal education in accounting and/or related business degree, may be seeking or have recently obtained their CPA accreditation, understand the complexities of the private equity markets via past experience, and have experience with Investran, Yardi and MS Suite of Systems (Excel/Access/Word

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