Fund Accounting Performance Fee - Senior Consultant

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. The role is an individual contributor role that sits within the Global Performance Fee Review Group (GPFRG), supporting Northern Trust’s Luxembourg Fund Accounting and client servicing teams. The role is primarily responsible for providing specialist technical expertise, governance and oversight for complex performance fee methodologies administered for Luxembourg clients and funds. It provides an opportunity to play a key role in shaping the strategic direction of Northern Trust’s performance fee operating model by supporting new business, fund launches, methodology reviews, model implementation, automation initiatives and operational readiness across Luxembourg Fund Accounting. A specific performance fee specialist is required for this role due to the complexity fund structures, including alternative, semi-liquid and hybrid products, and the need to interpret fund legal documentation, client requirements, CSSF/regulatory expectations and operational calculation mechanics. The role acts as a trusted technical advisor to Fund Accounting, Transfer Agency, Relationship Management, New Business & Transitions, Audit, Risk, Compliance, senior management and external clients on performance fee matters.

Provide specialist subject matter expertise on complex performance fee methodologies, including NAV Based, Equalisation, Series of shares, investor-level and bespoke alternative fee structures. Support client onboarding, fund launches and transitions by reviewing proposed performance fee arrangements and ensuring operational readiness across Fund Accounting and related service teams. Review fund prospectuses, offering documents, investment management requirements, worked examples and client specifications to ensure performance fee models align with legal documentation and client expectations. Perform independent review and approval of performance fee calculation models, templates, worked examples and supporting logic documentation before implementation or change. Act as a trusted advisor to Fund Accounting, New Business & Transitions, Relationship Management and clients in resolving complex performance fee queries and onboarding challenges. Identify, assess and respond to operational risk throughout the performance fee lifecycle, including methodology interpretation, model selection, manual inputs, exception management and change control. Lead or support strategic projects involving performance fee automation. Partner with Audit, Risk, Compliance and senior management on audit findings, regulatory questions, governance reviews and process improvement actions relating to performance fees. Develop and maintain procedures, training materials, best practice guidance for performance fee models and related calculation mechanics. Support the strategic direction of Northern Trust’s global performance fee operating model, with a particular focus on complex fee structures, scalability, automation and control. Skills / Experience Experience Extensive Fund Accounting, Private Markets, Performance Fee or investment operations experience. Recognised subject matter expertise in performance fee calculations, methodologies, calculation mechanics and governance. Current