Private Markets and Alternative Product Manager
About The Position
The Private Markets & Alternative Product Manager is responsible for developing, launching, managing, and commercializing alternative investment products, with primary ownership of Northern Trust’s Series LLC offering. The role provides end-to-end product management across Series launches, investor onboarding and servicing, operations, governance, regulatory coordination, and service-provider oversight. The Product Manager also supports broader private-market offerings, including private equity, private credit, and other alternative investment strategies. The role works across Investments, Distribution, Operations, Legal, Compliance, Finance, Tax, Marketing, Technology, and external partners to help ensure products are commercially relevant, operationally scalable, appropriately governed, and provide a strong investor experience.
Requirements
- Bachelor’s degree in finance, accounting, economics, business, or a related field.
- At least 5 years of related experience, including experience in investment product management, product development, fund operations, fund administration, or alternative investments.
- Experience with private funds, Series LLC structures, private equity, private credit, or other private-market products.
- Strong understanding of the investment product lifecycle, including development, launch, onboarding, operations, governance, and ongoing management.
- Familiarity with private-fund accounting, valuation, regulatory, audit, tax, and investor-reporting requirements.
- Ability to manage complex, cross-functional initiatives and external service-provider relationships.
- Strong product ownership, analytical, project-management, communication, and problem-solving skills.
- Client-focused mindset with strong attention to detail, governance, controls, and execution.
- Must be authorized to work in the U.S. without employment-based visa sponsorship now or in the future.
Nice To Haves
- MBA, CFA, CAIA, or comparable advanced qualification.
Responsibilities
- Own the Series LLC offering throughout its lifecycle and lead the launch and implementation of new Series.
- Coordinate investment, operational, legal, compliance, regulatory, tax, and investor-onboarding requirements.
- Oversee subscriptions, investor qualification, account establishment, funding, reporting, and ongoing servicing.
- Partner with fund administrators and internal teams on NAVs, expense allocations, investor activity, cash movements, and lifecycle events.
- Drive scalable processes, controls, and operating practices for Series formation and ongoing management.
- Partner with Investments and Distribution to identify and develop private-market products aligned with client needs and strategic priorities.
- Support product design and structuring across private equity, private credit, and other alternative strategies.
- Evaluate structures including Series LLCs, private funds, evergreen funds, and interval funds.
- Develop product business cases covering market opportunity, target investors, economics, operating requirements, risks, and commercialization.
- Partner with Distribution and Marketing on positioning, investor engagement, launch plans, and sales-enablement materials.
- Use market, client, and distribution feedback to inform product enhancements and future development.
- Maintain effective product governance, controls, policies, documentation, and management reporting.
- Coordinate governance activities, regulatory filings, audits, financial statements, tax reporting, valuation, and pricing matters.
- Monitor product risks and resolve issues in partnership with Legal, Compliance, Risk, Tax, Finance, and Operations.
- Manage relationships with external partners, including fund administrators, auditors, tax providers, legal counsel, and custodians.
- Oversee the investor experience from onboarding through ongoing reporting and servicing.
- Ensure the integrity of product, investor, financial, and Series-level data and strengthen supporting controls and infrastructure.
Benefits
- Retirement benefits, including a 401(k) and pension.
- Medical, dental, and vision benefits.
- Spending accounts and disability benefits.
- Paid time off.
- Parental and caregiver leave.
- Life and accident insurance.
- Other voluntary and well-being benefits.
- Discretionary bonus program that may include an equity component.
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
