Hedge Fund Accounting Specialist

ACCA Careers; Chicago (IL); On-site; USD 96,000 - 162,000; Full time

Job summary

Northern Trust is seeking a Senior Hedge Fund Accountant to support fund accounting, financial reporting, and client onboarding with a focus on accuracy and timely delivery. You will review monthly close packages, prepare financial statements, and ensure compliance with U.S.

GAAP and IFRS. Collaborating with clients, auditors, and Hedge Fund Services teams, you will drive process improvements, system enhancements, and effective controls across complex transactions.

Qualifications

• Strong understanding of hedge fund accounting, financial reporting, and fund administration operations.
• Excellent verbal and written communication skills with clients, auditors, and internal stakeholders.
• Deep knowledge within investment operations, fund accounting, or alternative investments.
• Analytical and problem-solving skills with a focus on process improvement.
• Able to manage multiple priorities in a fast-paced environment.
• Experience with financial systems and enterprise accounting and reporting platforms.
• Knowledge of U.S. GAAP and IFRS.
• Ability to work independently while providing leadership on complex issues and initiatives.

Responsibilities

• Review monthly fund and legal entity close packages for accuracy and completeness.
• Analyze and report financial data for clients and investors.
• Oversee the monthly close and finalize fund performance and financial results.
• Partner with clients and Hedge Fund Services teams to understand fund activities and transactions.
• Prepare and review fund financial statements per applicable accounting standards.
• Coordinate with external auditors for annual audits and ensure accuracy of audited statements.
• Serve as SME within Hedge Fund Services and support business operations.
• Drive operational efficiency by automating processes, improving controls, and enhancing system integration.
• Act as SME for HFS proprietary systems and guide on functionality and capabilities.
• Collaborate with shared service teams to resolve complex accounting matters and ensure proper transactions.
• Research technical accounting issues related to client transactions, new pronouncements, and evolving GAAP/IFRS.
• Lead discovery and due diligence for new client onboarding initiatives, gathering requirements and testing enhancements.
• Partner with technology and external vendors to define and support new functionality and process improvements.
• Engage with clients throughout onboarding, implementation, and discovery phases to ensure successful transitions.

Skills

Hedge fund accounting

Financial reporting

Fund administration

Communication

Analytical

Problem solving

Process improvement

Adaptability

Financial systems

GAAP/IFRS knowledge

Leadership

Education

Bachelor's degree in Accounting/Finance/related field

CPA/CA/ACCA or equivalent

Job description

Northern Trust is seeking a Senior Hedge Fund Accountant to support fund accounting, financial reporting, and client onboarding with a focus on accuracy and timely delivery. You will review monthly close packages, prepare financial statements, and ensure compliance with U.S.

GAAP and IFRS. Collaborating with clients, auditors, and Hedge Fund Services teams, you will drive process improvements, system enhancements, and effective controls across complex transactions.