Senior Fund Accounting Manager

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.

The Role

Reporting directly to the Head of Fund Accounting, the Senior Fund Accounting Manager is a key member of the Luxembourg Fund Accounting leadership team. This role is responsible for supporting the strategic direction, operational performance, growth and development of the Fund Accounting function, while ensuring exceptional client service, robust governance and scalable operating models.

The successful candidate will play a significant leadership role in the continued expansion of Northern Trust's Semi-Liquid and Alternative Investment servicing capabilities. Working across Product, Technology, Risk, Compliance, Relationship Management and Change teams, they will help drive innovation, transformation and future-state operating models that support evolving client, regulatory and market requirements.

The role provides leadership across Luxembourg and offshore Fund Accounting teams, fostering a culture of accountability, technical excellence, continuous improvement and client focus.

Responsibilities

Strategic Leadership

• Partner with the Head of Fund Accounting to define and execute the strategic objectives of the Luxembourg Fund Accounting business.
• Support business growth, productivity and financial objectives through effective workforce planning and organisational design.
• Contribute to long-term business strategy, succession planning and operating model development.
• Act as a senior escalation point for complex client, operational, commercial and people-related matters.
• Provide leadership coverage for the Head of Fund Accounting when required.

Alternative Investments & Semi-Liquid Product Leadership

• Lead Fund Accounting support for Semi-Liquid, Private Equity, Private Credit, Infrastructure and Hybrid investment structures.
• Drive operational readiness and implementation of new products, structures and strategic client onboarding initiatives.
• Support the development of scalable operating models capable of supporting future business growth.
• Partner with Product, Sales and Relationship Management teams on client opportunities, due diligences, solution design and RFP responses.
• Monitor industry trends, market developments and regulatory changes impacting alternative investments.

Transformation & Innovation

• Lead strategic transformation initiatives across the Fund Accounting function.
• Drive continuous improvement programmes focused on efficiency, scalability, operational resilience and control effectiveness.
• Partner with Technology and Change teams to implement automation, workflow optimisation and AI-enabled solutions.
• Champion modernization of processes, platforms and service delivery models.
• Sponsor initiatives that improve productivity, reduce risk and enhance client outcomes.

Client Leadership & Relationship Management

• Build and maintain relationships with senior client stakeholders and key internal partners.
• Lead client governance meetings, service reviews, operational workshops and due diligence engagements.
• Support fund launches, client onboarding programmes, operating model transitions and business expansion initiatives.
• Act as a senior escalation point for complex client service matters.
• Contribute to the development of innovative client solutions supporting alternative and semi-liquid products.

Operational Oversight

• Provide oversight of NAV production, valuation governance, pricing controls, financial reporting and core Fund Accounting activities.
• Ensure accurate, timely and controlled service delivery across all supported products.
• Monitor operational performance, productivity, capacity utilisation and risk indicators.
• Oversee resolution of complex accounting, valuation, reconciliation and client servicing issues.
• Lead root cause analysis and remediation of recurring operational issues and control gaps.

Risk, Governance & Regulatory Oversight

• Promote a strong risk and control culture across the Fund Accounting organisation.
• Ensure compliance with regulatory requirements, internal policies and operating procedures.
• Support internal audits, regulatory examinations, external audits and client due diligence reviews.

• Oversee remediation of audit findings, operational incidents and control deficiencies.
• Participate in governance committees, leadership forums and regulatory change initiatives.

Leadership & Talent Development

• Lead, coach and develop managers and Fund Accounting professionals across Luxembourg and offshore teams.
• Drive employee engagement, leadership development and succession planning initiatives.
• Support recruitment, workforce planning and organisational capability building.
• Promote knowledge sharing, technical expertise and continuous professional development.
• Build a strong leadership pipeline aligned to future business needs.

Skills and Experience

• 12+ years of progressive experience within Fund Accounting, Alternative Investments, Asset Servicing, or Investment Operations.
• Extensive expertise servicing Luxembourg-domiciled investment structures, including UCITS, AIFs, semi-liquid funds, and alternative investment vehicles.
• Deep knowledge of alternative asset classes, including Private Equity, Private Credit, Infrastructure, and Hybrid fund strategies.
• Strong understanding of Fund Accounting operations, including NAV production, valuation oversight, pricing controls, liquidity management, and financial reporting.
• Proven knowledge of Luxembourg regulatory frameworks and industry requirements, including AIFMD.
• Demonstrated success leading large, geographically dispersed teams across multiple jurisdictions and offshore operating models.
• Track record of delivering strategic transformation, operating model enhancement, organizational change, and continuous improvement initiatives.
• Experience managing complex client onboarding programs, fund launches, and service delivery transitions.
• Proven ability to leverage technology, automation, and process optimization to improve scalability, efficiency, and service quality.
• Strong commercial acumen with experience supporting business growth, client development, and relationship management.
• Exceptional stakeholder management, communication, and influencing skills, with the ability to build trusted relationships with clients, regulators, and senior executives.
• Strategic and results-oriented leader with a strong governance, risk, and control mindset.
• Demonstrated success in developing high-performing teams, advancing talent, and building succession pipelines.
• Bachelor's degree in Finance, Accounting, Economics, or a related discipline with professional qualification such as ACA, ACCA, CPA, CFA, or equivalent preferred.

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.