Fund Accounting Performance Fee - Senior Consultant

Northern Trust Corp; Limerick; On-site; EUR 90,000 - 150,000; Full time

Job summary

Northern Trust is recruiting a performance fee specialist to support Luxembourg fund accounting and client servicing teams. You will interpret complex performance fee structures, review client specifications and ensure operational readiness across service lines.

The role requires expert knowledge of performance fee calculations, strong governance, and collaboration with Audit, Risk and senior management to drive automation and control improvements.

Qualifications

• 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 knowledge and understanding of regulatory expectations.

Responsibilities

• 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

Fund Accounting

Performance Fee calculations

Regulatory knowledge

Client management

Education

Relevant professional qualifications

Tools

Excel

Job description

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.

Principal Responsibilities

• 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

• 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 knowledge and understanding of regulatory expectations.
• Preferred experience supporting alternative, semi-liquid, hybrid or complex fund structures where performance fee methodologies require detailed interpretation and operational implementation.
• Experience reviewing fund legal documentation, client specifications, worked examples and calculation models to identify operational requirements and control considerations.
• Experience interacting with senior management, governance committees, clients, auditors, vendors and external stakeholders on technical performance fee matters.
• Experience managing or supporting cross-functional projects involving business transformation, technology implementation, new business onboarding or operating model change.

Systems Knowledge

• Fund Accounting systems, performance fee calculation applications, including how data flows between Fund Accounting, Transfer Agency and downstream reporting platforms.
• Ability to understand system capabilities, limitations, interfaces, data dependencies and exception points within complex performance fee calculations.
• Ability to represent the business on cross-functional system, automation or process deliverables and translate technical calculation requirements into operational specifications.

Process Skills

• Strong analytical and procedural capability, with the ability to interpret complex performance fee methodologies and document calculation mechanics clearly for operational, audit and client-facing stakeholders.
• Ability and desire to adhere to strong governance, robust documentation, standardised operating models and automated solutions wherever possible.

Client Service

• Strong communication and client-servicing skills, with the ability to explain complex performance fee matters clearly to technical and non-technical audiences.
• Experience representing the business to current or prospective clients through presentations, onboarding discussions, issue resolution meetings and methodology walkthroughs.
• Promote Northern Trust’s client service culture and ensure that performance fee deliverables are accurate, timely, well-controlled and aligned with agreed service expectations.

Stakeholder Management

• Ability to influence stakeholders across Fund Accounting, Transfer Agency, New Business, Relationship Management, Risk, Compliance, Audit, Technology and senior management.
• Lead by example and actively mentor, coach and support Fund Accounting teams, junior team members and peers on performance fee calculations and governance expectations, ensuring performance fees are managed in line with the overall control framework and Operational Directives.
• Identify tasks to be completed by project teams and ensure they are delivered in a timely and efficient manner.
• Participate in governance committees and management forums, providing technical updates, risk commentary and recommendations on performance fee matters.

Personal Development

• Have the ability and desire to proactively develop further as the business grows and as performance fee requirements continue to evolve.
• Maintain awareness of emerging industry trends, regulatory developments, market practice, automation opportunities and technology developments relevant to performance fees.
• Demonstrate a genuine committed interest in own career development.
• Ability to think and act creatively.

Qualifications

• Relevant professional qualifications preferred.
• Strong PC, Excel and analytical modelling skills are required.
• Project management training or experience is preferred.
• Strong presentation skills.

Personal Qualities

• Disciplined, authoritative, determined and comfortable operating as a recognised technical expert.
• Enthusiastic, collaborative and an effective communicator, coach and mentor.
• Confident, well-balanced and resilient.
• Approachable and able to gain respect from operational teams, senior stakeholders and clients.
• Results-oriented, ambitious, highly driven.
• Enthusiasm to improve company performance and systems.
• Ability to think and act creatively.
• Ability to prioritise workloads effectively.

Work Authorization

Applicants must have the right to work in Ireland at the time of application and for the duration of employment. Please note that Northern Trust is unable to provide employment permit sponsorship for this role. This includes Critical Skills Employment Permits, General Employment Permits, Intra-Company Transfer Employment Permits, Stamp 1G permissions, and other employment permits under Irish immigration frameworks.

Working with Us

As a Northern Trust partner, you will be part of a flexible and collaborative work culture, which has a strong history of financial strength and stability. Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to an inclusive workplace and assisting the communities we serve. Philanthropy is deeply rooted in Northern Trust’s history and is an essential element of our culture. Employees around the world give their time and talent to work for the greater good of their communities.

Reasonable Accommodation

Northern Trust is committed to working with and providing adjustments to individuals with health conditions and disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at [e-mail], or alternatively you can discuss your individual requirements with the recruiter you are working with.

Looking for greater? You found it.

A global financial leader with more than 22,000 employees in 23 locations worldwide, Northern Trust empowers our employees to achieve more than just business goals. Our focus on work-life balance, career mobility and unique opportunities are just a few of the reasons we’ve been named one of the world’s most admired companies.

Terms and Conditions

Candidate Privacy Notice California Applicant Privacy Notice Pay Transparency Nondiscrimination Provision (U.S) Transparency in Coverage Disclosure – North America Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If, because of a medical condition or disability, you need a reasonable accommodation for any part of the employment process, please email our HR Service Center or call 1-800-807-0302 (North America), [phone] (Asia Pacific), 1800-425-0333 (India), [phone] (Europe, Middle East and Africa) and let us know the nature of your request and your contact information.

APAC/INDIA EEO STATEMENT

It is the policy and practice of Northern Trust to provide equal employment opportunities to all employees and applicants. Northern Trust does not discriminate on the basis of race, colour, religion or belief, nationality, ethnic or national origin, sex, marital status, sexual orientation, disability or age. All employment decisions will be made in a non-discriminatory manner in accordance with our obligations under the law and codes of practice. This includes human resources’ decisions relating to recruitment, terms and conditions of employment, transfers, promotions and access to learning and development.

Canada EEO STATEMENT

Northern Trust is an Equal Opportunity Employer. Hiring and other employment decisions at Northern Trust are made without regard to race, colour, religion, sex, ancestry, national origin, ethnic origin, age, disability, citizenship, veteran status, sexual orientation, record of offences, marital status, family status, or any other characteristic protected by federal, provincial, or local law, regulation, or ordinance.

EMEA EEO STATEMENT

It is the policy and practice of Northern Trust to provide equal employment opportunities to all employees and applicants. Northern Trust does not discriminate on the basis of race, colour, religion or belief, nationality, ethnic or national origin, sex, marital status, sexual orientation, disability or age. All employment decisions will be made in a non-discriminatory manner in accordance with our obligations under the law and codes of practice. This includes human resources’ decisions relating to recruitment, terms and conditions of employment, transfers, promotions and access to learning and development.

USA EEO STATEMENT

It is the policy of The Northern Trust Company to afford equal opportunity in all phases of employment without regard to an individual's age, race, color, religion, creed, gender, national origin, citizenship status, marital status, pregnancy, sexual orientation, gender identity, gender expression, genetic tests and information, physical or mental disability, protected veteran status or any other legally protected status.

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