Sr. Paralegal, Alternative Investments

Northern Trust•Chicago, IL

1d•$74,200 - $126,200•Hybrid

About The Position

The Senior Alternative Investments Paralegal supports Northern Trust’s alternative investments business, including private equity, hedge fund, real asset and fund-of-funds products. Under the direction of Legal Department attorneys and with a minimum of supervision, the role performs relatively complex legal work involving fund formation and offerings, investor onboarding and closings, regulatory filings, legal research, transaction management, and ongoing fund matters. The position works closely with internal stakeholders, investors, fund administrators, government agencies, and outside counsel, and may assist with training and mentoring new paralegals and interns. This is a hybrid role, with time split between working in the office and working from home. The listed base salary range is $74,200–$126,200 USD. Northern Trust provides a comprehensive benefits package and a discretionary bonus program that may include an equity component. Applicants must be authorized to work in the United States without current or future employment-based visa sponsorship.

Requirements

Eight or more years of experience.
Bachelor’s degree in paralegal studies, a paralegal certificate, or an equivalent combination of formal education, training, and experience.
Previous experience in a corporate law department, asset management, or a large law firm handling investment management or private funds.
Knowledge of the financial services industry and alternative investment products, such as private equity, hedge funds, real assets, or fund-of-funds.
Knowledge of private fund structures and applicable securities laws and regulations, including Regulation D under the Securities Act of 1933 and the Investment Advisers Act of 1940.
Knowledge of SEC EDGAR and state blue sky filing processes.
Professionalism and skill working in a team environment and coordinating workloads.
Ability to multitask and consistently meet aggressive, time-sensitive deadlines.
Excellent writing, verbal communication, organizational, and time management skills.
Knowledge of legal terminology and strong analytical skills for conducting legal research.
Excellent customer service skills and ability to work effectively with internal and external clients, team members, management, and staff.
Self-motivated, confident problem solver able to work in a fast-paced environment.

Responsibilities

Support all aspects of private fund formation and offerings, including preparing, reviewing, and coordinating private placement memoranda, limited partnership and operating agreements, subscription documents, side letters, and related fund documentation.
Handle investor onboarding matters, including reviewing subscription documents for investor eligibility, ERISA or benefit plan investor status, and coordinating AML/KYC review with fund administrators and compliance.
Identify internal and external stakeholders and coordinate fund launches, closings, and ongoing fund matters.
Escalate matters and consult with Legal Department attorneys on special projects and assignments; use analytical skills to identify relevant issues, applicable laws, and aspects of client relationships.
Prepare and file regulatory filings, including Form D and state blue sky notice filings, and assist with Form ADV, Form PF, and other regulatory reporting as requested.
Review fund documentation, capital call and distribution notices, transfers, and redemptions to determine deadlines and ensure conformity with governing documents and legal requirements.
Conduct independent, complex legal research on specific issues.
Communicate regularly with investors, clients, fund administrators, government agencies, and officials to answer questions and collect and assemble information.
Provide transaction management support, including maintaining closing checklists, coordinating signature pages, assembling closing sets, and tracking side letter obligations and MFN elections.
Maintain fund entity records, executed fund documents, and updates in the legal database in a timely manner.
Work closely with external counsel.
Assist in training and mentoring new paralegals and interns.
Assist with projects and tasks as assigned.