Private Markets and Alternative Product Manager

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.

About the Role

The Private Markets & Alternative Product Manager is responsible for the development, launch, ongoing management, and commercialization of alternative investment products, with primary ownership of the 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 will also support broader private-market offerings, including private equity, private credit, and other alternative investment strategies.

Working across Investments, Distribution, Operations, Legal, Compliance, Finance, Tax, Marketing, Technology, and external partners, the Product Manager will help ensure products are commercially relevant, operationally scalable, appropriately governed, and deliver a strong investor experience.

Key Responsibilities

Series LLC Product Management

Own the Series LLC offering across 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 across Series formation and ongoing management.

Private Markets Product Development & Commercialization

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.

Governance, Operations & Investor Experience

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 key external relationships, including fund administrators, auditors, tax providers, legal counsel, custodians, and other partners.

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.

Qualifications

Bachelor’s degree in finance, accounting, economics, business, or a related field; MBA, CFA, CAIA, or comparable advanced qualification preferred.

Minimum 5 years' related experience to include experience in investment product management, product development, fund operations, fund administration, or alternative investments and 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.

Demonstrated 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.

Salary Range:

Salary range is a good faith estimate of base pay. 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.

Work Authorization

Applicants must be authorized to work in the U.S. without the need for employment-based visa sponsorship now or in the future. Northern Trust will not sponsor applicants for U.S. work visa status for this opportunity (no sponsorship is available for H-1B, L-1, TN, O-1, E-3, H-1B1, F-1, J-1, OPT, CPT or any other employment-based visa).

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 MyHRHelp@ntrs.com, or alternatively you can discuss your individual requirements with the recruiter you are working with.