Northern Trust · 5 days ago
Assoc Spec, Fund Admin, HFS
Chicago, IL
Full-time
Hybrid
Mid, Senior Level
$107K/yr - $162K/yr
5+ years expNorthern Trust, a Fortune 500 financial institution, is seeking an Assoc Specialist, Fund Admin, HFS to manage fund investor allocations and collaborate with clients. The role involves reviewing fund documents, building allocation models, and serving as a client escalation point while ensuring scalable operations for a large portfolio of clients.
BankingFinanceFinancial ServicesWealth Management
Responsibilities
Review monthly/quarterly fund investor allocations, management fee, incentive fee calculations, waterfall models
Review fund documents in order to interpret and execute allocation requirements
Build allocation models to support bespoke fund and client requirements
Work directly with clients, including CFOs and fund controllers, for onboarding, monthly/quarterly deliverables, and escalations
Serve as a client escalation point for issues, providing direction and judgment calls for internal team while providing necessary client communication to resolve external issue
Collaborate with other team members to build scalable operations to meet the service needs of a large portfolio of clients
Work closely with technology resources to troubleshoot issues and scope new or desired functionality
Qualification
Required
Bachelor's degree in Finance, Business Administration, Accounting or a related field
5 years of experience with fund administration
In lieu of a bachelor's degree in finance, Business Administration, Accounting or a related field and 5 years of experience with fund administration, employer will accept 7 years of experience with fund administration
Minimum of 5 years of experience with reviewing monthly and quarterly fund investor allocations
5 years of experience calculating and reviewing management fees, incentive fee calculations, and waterfall models
5 years of experience reviewing and analyzing fund documents in order to interpret and execute allocation requirements
5 years of experience with working with Excel and MS Office
Benefits
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
Other voluntary and well-being benefits
Discretionary bonus program that may include an equity component
Company
Northern Trust
Northern Trust is a global leader in delivering innovative investment management, asset and fund administration, fiduciary and banking.
10001+ employees
H1B Sponsorship
Northern Trust has a track record of offering H1B sponsorships. Please note that this does not
guarantee sponsorship for this specific role. Below presents additional info for your
reference. (Data Powered by US Department of Labor)
Distribution of Different Job Fields Receiving Sponsorship
Represents job field similar to this job
Trends of Total Sponsorships
2025 (180)
2024 (203)
2023 (102)
2022 (74)
2021 (298)
2020 (83)
Funding
Current Stage
Public CompanyTotal Funding
$1.25B2025-11-20Post Ipo Debt· $1.25B
1978-01-13IPO
Leadership Team
Michael O'Grady
President, Chief Executive Officer & Director
Peter Cherecwich
Chief Operating Officer
Recent News
Business Wire
2026-01-16
2026-01-16
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2025-12-18
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