Associate Specialist, Fund Administrator, Integrated Portfolio Services (IPS)

About Northern Trust

Northern Trust (Nasdaq: NTRS) is a global leader in innovative wealth management, asset servicing, asset management, and banking services. Founded in 1889, the company is guided by three Principles That Endure: Service, Expertise, and Integrity. These principles are reflected in the business conduct that Northern Trust strives to instill in its partners, whom it calls employees.

Job Description Summary

As an Associate Specialist, Fund Administrator, Hedge Fund Services, you will be responsible for end-to-end fund administration and financial control activities supporting monthly NAV close, investor accounting, and financial reporting for a multi-billion hedge fund client. Your responsibilities include overseeing daily and month-end processing across various systems, preparing financial packages, and supporting audits and stakeholders.

Major Duties

• Oversee monthly NAV close activities, including controlling period close in transaction systems, monitoring/clearing suspense items, and ensuring daily transaction and position postings from source systems to the SubLedger are complete and accurate, and that related journal entries are generated and supported.
• Execute month-end posting of SubLedger journal entry summaries to Oracle ERP and perform/oversee automated reconciliations to validate completeness and accuracy; investigate, document, and resolve identified breaks.
• Prepare, review, and retain support for manual accruals/adjustments when instructed, including maintaining appropriate documentation and audit trail.
• Produce, review, and finalize monthly financial packages (key financial statements and supporting schedules), maintaining evidence of review within the monthly close package.
• Perform NAV-to-General Ledger reconciliations (e.g., proprietary investor accounting system to Oracle ERP) and other automated reconciliations (e.g., SubLedger to Oracle ERP); research and resolve differences to closure.
• Monitor and assess prior-period postings/adjustments for materiality and potential restatement implications; summarize findings and coordinate resolution with relevant parties.
• Support periodic and annual financial statement production (quarterly, semi-annually, annually) and coordinate with auditors and stakeholders as required.
• Review investor capital balances and profit and loss results, including management fee and performance allocation calculations in accordance with offering and/or governing documents.
• Oversee the automated feed of profit and loss from the SubLedger into proprietary investor accounting system and validate allocation outputs to feeder funds and investors; when manual profit and loss adjustments are required, ensure system-enforced segregation of duties is followed for input and approval.
• Oversee posting of applicable investor accounting system-generated amounts to Oracle FS and perform reconciliations (final NAV to the SubLedger and to financial statements) to confirm completeness and accuracy; investigate and resolve breaks.
• Serve as a senior problem solver, technical advisor, and escalation point for ambiguous, high-risk, or highly complex month-end close, investor accounting, and financial reporting issues, applying judgment informed by deep technical expertise and experience.
• Independently identify risks, inefficiencies, and control gaps; design and drive solutions through influence and subject-matter leadership to improve accuracy, scalability, and sustainability across fund administration processes.

Knowledge

• Excellent oral and written communication skills are required.
• In-depth functional / industry knowledge is required.
• Highly flexible and adaptable to change.
• Technical Accounting skills / systems knowledge (e.g. Oracle ERP, investor accounting platforms) is required.

Experience

• Bachelor’s degree in Accounting, Finance, or equivalent experience preferred.
• CPA preferred; other professional qualifications (e.g., ACCA) also preferred.
• 10+ years of experience in hedge fund administration, financial control, audit, or related financial services roles.

Salary Range

$95,600 - 162,400 USD

The salary range is a good faith estimate of base pay. Northern Trust provides a comprehensive benefits package including retirement benefits (401k and pension), health and welfare benefits (medical, dental, vision, spending accounts and disability), paid time off, parental and caregiver leave, life & accident insurance, and other voluntary and well-being benefits. Northern Trust also provides a discretionary bonus program that may include an equity component.

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

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.