PRIVATE EQUITY ACCOUNTING, MANAGER

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.

Department Overview :

Private Capital Administration (PCA) provides third-party clients with comprehensive administration, financial accounting, and investor reporting services for their funds.

PCA specializes in private equity (PE), real-estate, debt funds, venture capital, and fund of funds. Services include accounting for investment and divestments, investor capital calls / drawdowns and distributions, financial reporting and investor reporting.

Job Description :

The Manager, Private Equity Accounting role has day-to-day management responsibilities for a large Private Capital Administration Team which include coordinating client service deliverables / projects, organizing the work of the team, assigning tasks, setting short-term priorities, and ensuring timely and accurate completion of tasks.

Interact with PE Fund clients directly and manage issues and client expectations, if necessary. Possesses the knowledge, leadership and organizational skills required to prioritize assignments and provide feedback to staff.

Additional responsibilities include performance management, supporting career development efforts, including enforcing, remediating, and escalating risk and client issues.

Candidate will be able to operate independently and may be requested to work on large and / or complex projects / initiatives as needed;

he / she will provide additional leadership support with large specialized groups within the organization.

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.

Major Duties :

• Set day-to-day management responsibilities for the private equity accounting / client service deliverables team by assigning, coordinating, delegating assignments and tasks.
• Develop periodic goals, organizes the work of the team, monitors all activity, and ensures timely and accurate completion and delivery of the work.
• Sets performance management expectations and supports career development efforts including providing feedback to staff and, if necessary, develop corrective priorities.
• Be technically competent regarding complex, extensive, high profile transactions surrounding all PE Fund activity e.g. capital calls, distributions, management fees' investment purchases, divestments, carried interest calculations, etc.

ensuring they are executed according to the LPA and standard accounting policies and procedures. This may require direct interaction with external senior investment management / principals and / or CFOs, Controllers, CCOs.

• Provide input, maintains and monitors departments risk management and compliance programs for assigned team. Monitors client relationship and servicing activities to ensure the team is adhering to the client's service level agreement.
• Displays a balanced, cross functional perspective, liaising with the business to improve efficiency, effectiveness and productivity.
• Establishes & cultivates working relationship with clients and partners. Act as key a communicator between the client and client service teams for the deliverables and servicing activities.

Understands client needs and reviews service requests to ensure the request has adequate information for a successful implementation.

• Ensures that all necessary client documentation is completed according to audit guidelines.
• Monitors turnaround times so that product / services are provided by due date.
• Monitors and verifies account set up, maintenance and services for accuracy and completeness.
• Reviews all bespoke, non-standard procedures for account processing.
• Provide management updates on transactions, including statistics on volume, productivity, new developments, service and sensitive issues on a regular basis.
• Completes department and individual Key Performance Indicators per established procedures.
• Provide input and assist in implementing new technology and efficiency initiatives.
• Seasoned multi-disciplinary expert with extensive technical and / or business knowledge and functional expertise.

Knowledge / Skills

• This position is technical and service relationship oriented.
• Knowledge of private equity fund industry, products and services for specified area, usually obtained through training and / or related work experience is critical and required to service clients.
• Communication and negotiation skills are required to ensure client satisfaction. Analytical skills are required in reviewing, researching and resolving issues surrounding accounting and financial aspects across transactional and summary levels.
• Leadership and organizational skills are needed to prioritize assignments and provide feedback to staff.
• LI-GG1
• LI-Hybrid

Experience

• 10+ years private equity fund accounting / administration experience with demonstrated growth of responsibility is a must.
• We are looking for individuals who have supervisory skills, 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, understand the complexities of the private equity markets via past experience, and be well acquainted with Investran and MS Suite of Systems (Excel / Access / Word) (intermediate / advanced level).

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 [email protected].

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.