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 pr…