Private Equity Accounting Team Leader
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.
The successful candidate will be expected to take a pivotal role in managing and delivering the reporting needs of a highly accomplished global private equity firm through the development of the Accounting Team and of the relationships with the client, auditors and other third parties. The role will require the successful candidate to review, assist and prepare a variety of deliverables to include audited financial statements, management accounts, the provision of information for tax reporting purposes and ad-hoc reporting for entities administered by the Private Equity department in a timely, efficient and accurate manner adhering to the highest standards.
The key responsibilities of the role include:
- Leading by example: Demonstrating professional judgement and attitude in all aspects of your work to assist in furthering an environment which encourages employee participation, teamwork and communication enabling the delivery of a first class professional and efficient service
- Communication: Promoting effective communication via individual 1:2:1 and team meetings. Maintaining a strong relationship with the client, auditors, administration team and other Northern Trust departments
- Accounting Team development: Enabling the development of partners by increasing their technical knowledge and skillsets to allow them to fully carry out their functions through the effective use of the appraisal process, interim reviews, coaching and evaluation of the results. This will include providing and enabling on the job training and ensuring that all procedures are kept up to date and are adhered to on a daily basis
- Organisation of the Accounting Team: Through discussion with the client and external parties (where required), establish concise timetables for all key deliverables. Ensure that these are adhered to by the team and enable proactive communication throughout the process. Identify system and process enhancements for discussion and following approval, co-ordinate the introduction of such enhancements. Prioritise assignments, providing continuous feedback to staff and escalating issues appropriately
- Technical knowledge: Advising on potential accounting issues and current best practises as well as sharing knowledge, expertise and guidance with both the team and the client. Understand complex transactions and be a point of contact for technical accounting matters for the PE accounting team.
- Pro forma Accounts: The ability to design pro forma accounts as required, ensuring they are in accordance with appropriate regulations/standards and agreed with clients/auditors
- Account preparation process: Oversee the preparation of the required financial reporting up to and including presentation to the Board of Directors (where required). Review all aspects of client accounting function prepared by fund accountants and senior fund accounts. Ensure that the FRR and LRR calculations for Guernsey licensee entities are completed and that all statutory accounts are filed within the relevant deadlines. Where necessary, the candidate will also be required to prepare financial reporting.
- Outsourced jurisdictions: In addition to leading a team of accountants locally in Guernsey, the candidate will also be responsible for reviewing financial reporting for certain Guernsey funds where the preparation of the financial statements are outsourced to Northern Trust offices in other jurisdictions.
- Client reporting: Develop client specific knowledge to facilitate the delivery of ad-hoc queries.
- Other deliverables: Ensuring the completion of accurate complex fund valuations, distributions, calls / drawdowns, management fee and other calculations
- Internal reporting: Completion of NT internal reporting as required
- The ideal candidate will hold an accounting qualification (ACA or ACCA preferred) and be familiar with both UK GAAP or IFRS
- Have an understanding of the Guernsey Company / POI / Partnership laws and possess an ability to keep up to date with all developments
- Excellent oral and written communication skills
- Confidence in communicating directly with clients and other senior stakeholders
- Proven people management credentials
- Strong leadership and change management attributes
- Good analytical and problem solving skills
- Ability to set priorities and manage deadlines
- Advanced Excel Skills and knowledge of Investran would be an advantage
- Good team player, self-starter, flexible, with the ability to work under pressure with minimal supervision
Working with Us:
As a Northern Trust partner, greater achievements await. You will be part of a flexible and collaborative work culture in an organization where financial strength and stability is an asset that emboldens us to explore new ideas. Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to assisting the communities we serve! Join a workplace with a greater purpose.
We’d love to learn more about how your interests and experience could be a fit with one of the world’s most admired and sustainable companies! Build your career with us and apply today.
For further information, and to apply, please visit our website via the “Apply” button below.