Accountant, Private Equity Accounting

About Northern Trust:

Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution that has been in continuous operation since 1889.  

Northern Trust is proud to provide innovative financial services and guidance to the world’s most successful individuals, families, and institutions by remaining true to our enduring principles of service, expertise, and integrity. With more than 130 years of financial experience and over 22,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.

Private Capital Administration provides third-party clients with comprehensive administration, financial accounting, and investor reporting services for their funds. Fund products supported include venture capital, buyout, mezzanine, life sciences, secondaries, fund of funds. Services include assistance with investment and divestment execution, investor drawdown and distributions, financial reporting and investor reporting.

Summary

The  Private Capital Accountant operates under general supervision but works independently most of the time. Candidate will serve on large and/or complex projects as requested. Must be technically competent to act as first point of reference for day-to-day queries while serving as a liaison to related areas.

Have both broad and in-depth knowledge in chosen field, plus strong knowledge of related areas. Carries out relatively complex, extensive, high profile activities e.g. direct interaction with committees and more senior management.

Demonstrates excellent analytical, consultative and communication and judgment skills. Focus on maintenance and implementation of policies and procedures in the function while building towards becoming a stronger area expert.

Working Model: Hybrid

We have a balanced hybrid working model to ensure you get the flexibility you need, and the successful candidate will spend their time between working in the office and working from home.

Knowledge/Skills

This position is technical and service oriented. Knowledge of private equity fund products and services for specified area, usually obtained through training or related work experience, is required to service clients. Communication and negotiation skills are required to ensure client satisfaction. Analytical skills are required to research and resolve problems. Leadership and organizational skills are needed to prioritize complex assignments and demonstrate technical knowledge.

Major Duties

• Establishes & cultivates working relationship with clients, external legal and accounting firm relationships and internal partners.

• Carry out relatively complex, extensive, high profile transactions surrounding all PE Fund activity e.g. capital calls, distributions, investment purchases, divestments, carried interest calculations, expenses, income, gains, fees, etc. ensuring they are executed according to standard policies and procedures.

• Be technically competent to act as first point of reference for day-to-day queries while performing review/verification/accounting/audit processes (daily and periodic) accurately.

• Search for ways to eliminate recurring problems/issues as they arise.

• Ensure all daily or periodic tasks are completed according to client specific administration & service level agreements.

• Ensure work-flows, files, and back up coverage are setup and maintained within guidelines

• Prepare, validate and/or assist in the preparation of PE accounts, PE reporting, financial statements, financial audit reporting and/or specific client reporting, including, but not limited to, accruals, monthly, quarterly, and/ or annual tax/financials packages for fund, portfolio company level and LP investor reporting as per administration & service level agreements.

• Analyze, research, and ensure appropriate reconciliations surrounding PE investment activity/data i.e. bank accounts, expenses, income, gains, withholding are completed accurately and timely. Ensure all financial reporting/information to clients/investors is reviewed, validated for accuracy prior to dissemination.

• Utilize all department systems as required to complete daily and periodic functions including, but not limited to; Investran (Accounting, Portfolio and Investor Manager, RM Contact, Report wizard, Reporting Services),  SharePoint, Microsoft Excel/Access/Word.

• Lead/participate in implementing new technology and efficiency initiatives/projects as needed.

• #LI-GG1

• #LI-Hybrid

Qualifications

• 2-3+ years of staff accounting experience and/or private eq