Regional Head of Private Capital Administration, North America

Northern Trust • Chicago, IL

5d

About The Position

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 Regional Head of Private Capital Administration (PCA) is a pivotal leadership role within our organization, responsible for the comprehensive management of our PCA services in North America (NA) Reporting to the Global Head of PCA, this role is accountable for the overall NA operations to provide third-party clients with comprehensive administration, financial accounting, and investor reporting services for their funds. PCA specializes in private equity (PE), real-estate, debt funds, venture capital, and fund of funds. Services include accounting for investment and divestments, investor capital calls/drawdowns and distributions, financial reporting and investor reporting.

Requirements

• 15+ years direct experience in a senior leadership capacity in private equity fund accounting/administration or accounting/security services. Preferably within a GSIB/GSIFI organization.
• Strong business and technical understanding of various PCA functions, processes, systems, and regulations
• Excellent leadership and team management skills.
• Strong analytical and problem-solving skills.
• Excellent communication and stakeholder management skills.
• Outstanding organizational and leadership abilities, including the ability to drive change and implement innovative processes in a complex, global organization.
• Aptitude in decision-making, problem-solving, and applying judgment.
• Bachelor’s degree in business administration, management, or a related field.

Nice To Haves

• An MBA or related advanced degree preferred.

Responsibilities

• Lead the regional PCA team, ensuring the delivery of high-quality private capital accounting/client services across all regions.
• Provide strategic direction and leadership in the area of PCA, fostering a culture of continuous improvement, innovation, risk management and service excellence.
• Build a high performing, diverse team capable of delivering on the needs of the future.
• Oversee all operations that surround Private Capital Fund activities: capital calls, distributions, management fees’, investment purchases, divestments, carried interest calculations, etc.
• Ensure high-quality services are executed according to service level arrangements (SLAs); act as a point of escalation to resolve client issues.
• Analyze PCA operations to identify opportunities for improvement and implement necessary changes.
• Develop, support and implement a global approach to the formulation, oversight, governance, and maintenance of Accounting.
• Employ operating and production models and rhythm that support global scale alongside regional-specific needs, nuances, and regulation, promoting consistency and scalability.
• Implement innovative accounting processes and solutions to improve efficiency, accuracy, and compliance in PCA.
• Oversee the development and implementation of PCA policies and procedures for NA, ensuring compliance with relevant regulations and standards.
• Provide expertise on the PCA function to help identify, assess, and mitigate operational and financial risks.
• Ensure the resiliency of PCA operations by helping to develop and implementing contingency plans and recovery strategies.
• Support the review and update of PCA policies and procedures to reflect changes in regulatory requirements and industry best practices.
• Foster a culture of compliance and risk-awareness within the PCA team, providing regular training and updates on relevant issues.
• Collaborate with internal stakeholders across various operational areas to ensure alignment and integration of PCA processes.
• Engage with external clients to understand their needs and deliver integrated PCA solutions and services that add value to their operations. Act as a point of escalation to resolve client issues.
• Foster strong relationships with technology partners to leverage innovative solutions for scalable and efficient PCA operations.
• Stay abreast of market trends and client needs to inform the development and implementation of technology-driven, scalable solutions.
• Drive cost reduction initiatives through the implementation of scalable operations and the strategic use of technology.
• Oversee the PCA budget for NA, ensuring efficient use of resources and alignment with the firm's financial objectives.
• Continually seek opportunities to add value to client operations through the delivery of high-quality, cost-effective PCA services.
• Leverage data and technology to enhance operational efficiency, reduce costs, and improve service delivery.

Benefits

• Northern Trust provides a comprehensive benefits package including 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, and other voluntary and well-being benefits.
• Northern Trust also provides a discretionary bonus program that may include an equity component.

What This Job Offers

• Job Type: Full-time
• Career Level: Executive