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 Purpose
We are seeking a highly experienced Fund Accounting Specialist to play a strategic leadership role in the continued growth and development of our Semi-Liquid Fund Accounting business in Luxembourg. The successful candidate will serve as a recognised subject matter expert across semi-liquid, private markets and hybrid fund structures, providing strategic direction on complex client implementations, target operating model design, regulatory developments and transformational change initiatives. The role will partner closely with senior management, clients, Technology, Change and operational leaders to drive scalability, innovation, governance and service excellence across the business.
The role will also provide leadership and direction to Fund Accounting teams, driving technical excellence, talent development, operational resilience and a high-performance culture while supporting the continued expansion of the Semi-Liquid Fund Accounting business.
Key ResponsibilitiesStrategic leadership and subject matter expertise- Act as the senior subject matter expert for semi-liquid, private equity, private credit, infrastructure and hybrid fund structures.
- Define and influence the strategic direction for Semi-Liquid Fund Accounting, ensuring the operating model remains scalable, controlled and aligned with evolving client and regulatory expectations.
- Provide thought leadership on regulatory developments, industry best practice and emerging trends impacting semi-liquid and alternative investment structures.
- Lead the design, review and enhancement of target operating models to support business growth, operational resilience, risk mitigation and service quality.
- Drive strategic process transformation initiatives, identifying opportunities for automation, technology enablement and operational efficiency.
- Champion strong governance, control effectiveness and audit readiness across all semi-liquid and alternative fund accounting processes.
- Provide oversight and guidance on complex NAV production, valuation methodologies, unitisation, pricing governance, liquidity management and performance fee calculations.
- Serve as the senior escalation point for complex accounting, valuation, reconciliation, exception management and client service issues.
- Lead root cause analysis and sustainable remediation actions for recurring operational issues or control weaknesses.
- Lead complex client onboarding, business expansion and operating model transition initiatives, ensuring operational readiness and sustainable service models.
- Partner with senior stakeholders across Operations, Technology, Product, Risk, Compliance and Change functions to deliver strategic business objectives.
- Represent Fund Accounting in client due diligence, audit, regulatory review and internal governance forums, providing clear and credible subject matter input.
- Provide leadership, coaching and mentorship to Fund Accounting teams, fostering a culture of accountability, collaboration, continuous improvement and high-quality delivery.
- Manage, develop and retain a team of fund accounting professionals, ensuring clear objectives, effective performance management and meaningful career development plans.
- Drive knowledge sharing, technical training and cross-location capability building across Luxembourg and offshore operational teams.
- Promote strong risk awareness and ownership across the team, ensuring adherence to internal controls, policies, procedures and regulatory expectations.
- 10+ years of experience within Fund Accounting, Alternative Investments, Asset Servicing or Investment Operations, with significant exposure to private markets and semi-liquid products.
- Deep technical expertise in semi-liquid fund structures, private equity, private credit, infrastructure and hybrid investment vehicles.
- Extensive experience working with Luxembourg domiciled fund structures and associated regulatory frameworks.
- Strong understanding of fund accounting oversight, NAV production, valuation governance, pricing controls, liquidity management and performance measurement.
- Demonstrated experience leading operating model reviews, business transformation, automation initiatives and complex client onboarding programmes.
- Proven experience leading and developing teams, including performance management, coaching, succession planning, resource planning and organisational development.
- Strong stakeholder management and communication skills, with the ability to influence senior management, clients and cross-functional partner
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 Luxembourg Office
In 2024, the Northern Trust Luxembourg office celebrated their 20th anniversary, an important chapter in their history. Having opened in 2004 to support one client, they have since grown their client base substantially and increased their headcount significantly, which now stands at over 400.
From modern fully equipped meeting rooms to a vast canteen with a view over a vegetable garden, maintained by our team all year round, and a rooftop where beehives have been installed, this space is truly a source of pride for our team. Learn more.
Skills Required
- 10+ years experience in Fund Accounting, Alternative Investments, Asset Servicing or Investment Operations
- Deep technical expertise in semi-liquid fund structures, private equity, private credit, infrastructure and hybrid vehicles
- Extensive experience with Luxembourg domiciled fund structures and related regulatory frameworks
- Strong understanding of NAV production, valuation governance, pricing controls, liquidity management and performance measurement
- Demonstrated experience leading operating model reviews, business transformation, automation and complex client onboarding programmes
- Proven experience leading, developing and managing fund accounting teams including performance management and succession planning
- Strong stakeholder management and communication skills with ability to influence senior management and clients
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 — A 401(k) with company match alongside an employer‑funded defined‑benefit pension is highlighted in employer‑verified materials and filings, setting the retirement package apart from many private employers.
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Leave & Time Off Breadth — PTO is portrayed as solid overall, and two paid volunteer days per year are clearly documented across corporate materials.
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Parental & Family Support — Company sources and postings reference paid parental and caregiver leave and recent enhancements to parental benefits, indicating meaningful family support within the package.
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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