Northern Trust

Manager, Fund Accounting

Chicago, IL
22 Apr 2024
24 Apr 2024
Contract type
Full time
Experience level

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.

Summary of Role:

Under direct supervision responsible for evaluating, analyzing and reconciling mutual funds and separately managed funds to determine the Net Asset Value (NAV) on a daily basis and for the production of client month-end reports. The analyst works on large asset owner plans, primarily large Defined Contribution (i.e. 401k) and Defined Benefit (Pension) ERISA plans. The analyst will assess the impact of investment manager trading activity on the investment portfolio returns and option market values and will also audit income postings, accruals, and corporate actions all within scheduled time frames. The analyst will be responsible for performing exception resolutions of cash, holdings reports and price variances, expenses and expense accruals, and also any activity in the investment accounts.

Major Duties:

  1. Determine Net Asset Value (NAV) for defined contribution and defined benefit plans on a daily basis.
  2. Evaluate and reconcile funds including mutual, separately managed, commingled, and collective funds, often compared against a benchmark, for daily valuation.
  3. Analyze the impact of transactions, income positions, accruals, and corporate actions on the portfolio investment options.
  4. Audit and resolve exceptions on assigned accounts according to procedures and within scheduled timeframes.
  5. Assist in the timely preparation of monthly and annual reports and financial statements in accordance with generally accepted accounting principles and performance standards.
  6. Record and respond to partner and client inquiries resolving exceptions related to accounts.
  7. Value funds on a daily basis.
  8. Provide client portfolio and 5500 reporting on an annual basis.
  9. Expected to use some initiative but refer more complex problems to supervisors/experts


  1. Basic knowledge of accounting, finance and securities, usually obtained through business related coursework and/or prior related experience.
  2. Analytical skills and organizational skills are required to research and resolve inquiries within scheduled timeframes to meet client deadlines.
  3. Attention to detail and multi-tasking skills are required to value the funds in a timely and accurate manner.
  4. Ability to absorb information quickly, work in a fast paced environment and meet deadlines while maintaining accuracy is critical.
  5. Strong Excel skills and usage of Microsoft Power suites is a plus.


  1. Bachelor’s degree in Business preferred or relevant work experience in Fund Accounting or Mutual Fund Accounting.

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.

Reasonable accommodation

Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at

We hope you’re excited about the role and the opportunity to work with us. We value an inclusive workplace and understand flexibility means different things to different people.

Apply today and talk to us about your flexible working requirements and together we can achieve greater.

For further information, and to apply, please visit our website via the “Apply” button below.

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