About Northern Trust
As a global leader in innovative wealth management, asset servicing, asset management and banking services, Northern Trust (Nasdaq: NTRS) is proud to guide the world’s most successful individuals, families, corporations and institutions.
Since 1889, we have aligned our efforts with our three guiding Principles That Endure: Service, Expertise, and Integrity. Together, they reflect the three cornerstones of business conduct which we strive to instill in our employees, whom we call partners, and to provide to our clients and the communities we serve worldwide.
With more than 135 years of financial experience and over 24,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.
Role Summary:
The Analyst within Alternative Asset Servicing (AAS) supports the servicing, accounting, valuation, and transaction processing of alternative investments, with a primary focus on Private Equity limited partnerships. This role acts as a key liaison between client relationship managers, general partners, investment managers, and internal Northern Trust teams, ensuring accurate processing, valuation reporting, and timely resolution of inquiries. The position operates in a fast‑paced, time‑sensitive environment, requiring strong analytical skills, attention to detail, and effective communication across multiple stakeholders.
Key Responsibilities:
Client & Inquiry Management
Serve as the operational contact for client relationship managers regarding alternative investment inquiries.
Monitor, research, resolve, and respond to internal and external inquiries, including those from clients, auditors, fund managers, and internal partners.
Pull, interpret, and analyze data to ensure client valuation expectations and reporting standards are met.
Provide guidance and solutions to partners while escalating complex issues to supervisors or subject‑matter experts as appropriate.
Valuation & Reporting
Reconcile and update monthly and quarterly valuations provided by general partners against Northern Trust systems.
Proactively locate and review fund statements, capital activity, and supporting documentation.
Ensure timely and accurate valuation updates for private equity and other alternative asset types.
Identify valuation discrepancies and follow issues through to resolution.
Transaction Processing
Process limited partnership transactions, including capital calls, distributions, income, and fee activity, for corporate, institutional, and PFS clients.
Monitor transaction activity within Northern Trust systems and databases to ensure accurate categorization and posting.
Communicate with general partners, investment managers, account administrators, and internal partners regarding discrepancies, special procedures, or clarifications.
Support cash movements, including the use of cash movement systems to produce and receive wires to and from partnership banks.
Identify errors affecting accounts, make necessary corrections, and follow through until fully resolved.
Verify all transactions are processed correctly so client data is accurate and available within scheduled reporting timeframes.
Operational Excellence
Manage assigned daily tasks to ensure day‑to‑day deliverables and service level expectations are met.
Work efficiently under time‑sensitive constraints in a team‑oriented environment.
Consistently review and assess processes to identify efficiency improvements and risk reduction opportunities.
Actively participate in department projects, initiatives, audits, and system enhancements.
Provide assistance to Technical Coordinators as required.
Knowledge & Skills
Strong oral and written communication skills.
Working knowledge of Microsoft Office
Demonstrated analytical and problem‑solving abilities.
Strong organizational skills and the ability to manage high transaction volumes.
Ability to work effectively in a team‑based, deadline‑driven environment.
Knowledge of capital markets, with exposure to:
Private Equity
Hedge Funds
Commingled Funds
Valuation reporting
Reconciliation principles
Practical understanding of finance and accounting concepts preferred.
Knowledge of securities operations and rules governing security and cash movement preferred.
Education & Experience
Bachelor’s degree required.
Emphasis in Finance, Accounting, or related business discipline preferred.
Work Schedule
Role is aligned to Chicago office hours (8:30am CST – 5:00pm CST). Overtime eligible and may be necessary during peak processing or reporting periods.
Applicants must be authorized to work in the U.S. without the need for employment-based visa sponsorship now or in the future. Northern Trust will not sponsor applicants for U.S. work visa status for this opportunity (no sponsorship is available for H-1B, L-1, TN, O-1, E-3, H-1B1, F-1, J-1, OPT, CPT or any other employment-based visa)
Work Authorization
Applicants must be authorized to work in the U.S. without the need for employment-based visa sponsorship now or in the future. Northern Trust will not sponsor applicants for U.S. work visa status for this opportunity (no sponsorship is available for H-1B, L-1, TN, O-1, E-3, H-1B1, F-1, J-1, OPT, CPT or any other employment-based visa).
Working with Us
As a Northern Trust partner, you will be part of a flexible and collaborative work culture, which has a strong history of financial strength and stability. Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to an inclusive workplace and assisting the communities we serve.
Philanthropy is deeply rooted in Northern Trust’s history and is an essential element of our culture. Employees around the world give their time and talent to work for the greater good of their communities.
Reasonable Accommodation
Northern Trust is committed to working with and providing adjustments to individuals with health conditions and disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at [email protected], or alternatively you can discuss your individual requirements with the recruiter you are working with.
About Our Tempe Office
The Northern Trust Tempe office opened in 2015 with 75 employees and now serves over 75 different business functions with more than 700 employees. The team is recognized as a Global Capability Center that delivers exceptional value, quality, expertise and innovation through our diverse talent. Learn more.
Skills Required
- Bachelor's degree
- Degree emphasis in Finance, Accounting, or related business discipline
- Authorized to work in the U.S. without visa sponsorship
- Working knowledge of Microsoft Office
- Strong oral and written communication skills
- Demonstrated analytical and problem-solving abilities
- Strong organizational skills and ability to manage high transaction volumes
- Knowledge of capital markets with exposure to private equity, hedge funds, commingled funds, valuation reporting, and reconciliation principles
- Practical understanding of finance and accounting concepts
- Knowledge of securities operations and cash movement rules
- Availability to work Chicago office hours (8:30am-5:00pm CST) and overtime during peak periods
Northern Trust Compensation & Benefits Highlights
The following summarizes recurring compensation and benefits themes identified from responses generated by popular LLMs to common candidate questions about Northern Trust and has not been reviewed or approved by Northern Trust.
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Retirement Support — Retirement offerings are positioned as a standout, with a 401(k) plus an additional employer-funded pension described as a differentiator. This combination is repeatedly framed as a meaningful offset within total rewards, especially for long-term financial security.
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Leave & Time Off Breadth — Time-off benefits are depicted as generous, spanning paid time off, holidays, and dedicated paid volunteer time. The breadth of leave options is highlighted as a consistent strength that supports work-life balance.
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Healthcare Strength — Health coverage is characterized as comprehensive, typically including medical, dental, vision, and mental-health support through an assistance program. The offering is portrayed as robust and family-supportive, with multiple plan options in some descriptions.
Northern Trust Insights
What We Do
As a global leader in innovative wealth management, asset servicing and investment solutions, Northern Trust (Nasdaq: NTRS) is proud to guide the world’s most successful individuals, families and institutions by remaining true to our enduring principles of service, expertise and integrity. A globally recognized Fortune 500 Company in continuous operation since 1889, we’ve built a legacy of empowering clients to reach their goals with confidence. Since our roots as a trust bank, we’ve grown to a global presence with more than 24,000 employees in more than 20 countries and across six core business units: Wealth Management Asset Management Asset Servicing Technology Corporate Functions Enterprise Operations Join a Team That’s Achieving Greater At Northern Trust, we refer to our employees as partners – with good reason. We understand that relationships are the key to our success. Here you’ll join a diverse and inclusive team of innovators with the drive to challenge the way things have always been done. Instead of choosing between a dynamic career and work-life balance, enjoy working with a team that supports your goals in the office and at home. We’ll help you get where you want to go without sacrificing what matters most to you. Delivering value and adhering to our enduring principles What are enduring principles? Since our founding, they have guided our strategy and success. Thanks to the dedication of our partners, Northern Trust continues to thrive by adhering to three enduring principles: service, expertise and integrity . What does this mean? Service Northern Trust has a relentless drive to provide exceptional service to our clients, our partners and our communities. We set new standards and go above and beyond in our commitment to delivering greater results. Expertise Expertise is at the core of who we are. We focus sharply on what we do well. From expanding our capabilities, to hiring talented professionals to developing innovative solutions, our expertise is why we continue to be a trusted advisor for generations of families and institutions. Integrity Operating with uncompromising ethics is central to Northern Trust’s heritage. As a result, our clients, partners and communities know they can rely on us. For more than 130 years, our integrity has been our guide – and that will never change.
Why Work With Us
At Northern Trust, we go further because we go together. We embrace flexibility, encourage balance, and prioritize inclusion at all levels, working together to keep you connected. We are committed to our employees—all 24,000 of them. Whether this is a first step or a bold new leap in your career, we’re here to help you move forward.
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