Fund Accounting Specialist

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 Responsibilities

Strategic 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.

Operating model, process transformation and risk management

• 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.

Complex technical oversight and issue resolution

• 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.

Client, stakeholder and change delivery

• 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.

Leadership & Team Management

• 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.

Experience & Qualifications



• 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.