Senior Legal Counsel, Asset Servicing

The position is for a Senior Legal Counsel to provide support as in-house counsel for Northern Trust's Asset Servicing business line which provides a range of end-to-end middle and back office processes that service asset managers and asset owners across trade support, fund accounting and administration, custody and prime services.

Broadly, the position will provide general legal support to the fund services groups across the business, including advice relating to fund administration (including hedge fund administration) and fund accounting; transfer agency; global custody and ancillary services thereto. The position will report to an Assistant General Counsel in the US Asset Servicing Legal team. A significant portion of the role will involve supporting services provided to registered mutual funds and unregistered funds (e.g. hedge funds and private capital funds).

Major Duties

• Work with the Asset Servicing clients and their attorneys to negotiate complex service agreements, including fund administration agreements, transfer agency agreements, custody and trust agreements and other contracts for services being provided to institutional clients. • Review contracts, transaction-related documents and other documents for compliance with legal and regulatory requirements as well as Northern Trust's internal policies. • Draft direction letters, agreement amendments and other agreement terms. • Identify and ensure appropriate internal escalation of key risk issues. • Remain current on regulatory changes and emerging legal issues that impact service providers to registered and unregistered funds. • Complete internal and external training and participate in committee and other partner meetings to learn about and remain current on the Asset Servicing business.

#LI-Hybrid

Experience• JD from an accredited law school and admitted to practice in Illinois.• Minimum of 5 years combined relevant experience at a nationally recognized law firm and/or in-house legal department with financial institution experience preferred but not required.• Contract negotiation and contract drafting experience preferred, with sophisticated transaction experience a plus.• Excellent communication and interpersonal skills along with strong analytical abilities.• Able to balance practical business considerations with compliance, legal, risk and regulatory considerations.• Self-motivated and able to learn quickly and set priorities and manage multiple projects and assignments within agreed upon timeframes.• Able to work as a member of a team and proactively seek out advice and training from more experienced team members or subject matter experts.• Excellent attention to detail and focus on delivery of quality result with the ability to ramp-up quickly in new environments and teams.• Knowledge of and familiarity with applicable banking, corporate, and securities laws and regulations, including US securities laws, ERISA, Investment Company Act of 1940, Investment Advisers Act of 1940 and/or US insurance regulations is a plus with an ideal candidate having familiarity with the requirements relating to providing services to registered mutual funds.• This is a hybrid role in located Chicago, Illinois and will work out of Northern Trust's corporate headquarters in downtown Chicago a few days a week.

About Northern Trust:

Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution that has been in continuous operation since 1889.

Northern Trust is proud to provide innovative financial services and guidance to the world's most successful individuals, families and institutions by remaining true to our enduring principles of service, expertise and integrity. With more than 130 years of financial experience and over 22,000 partners, we serve the world's most sophisticated clients using leading technology and exceptional service.

Working with Us:

As a Northern Trust partner, greater achievements await. You will be part of a flexible and collaborative work culture in an organization where financial strength and stability is an asset that emboldens us to explore new ideas. Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to assisting the communities we serve! Join a workplace with a greater purpose.

We'd love to learn more about how your interests and experience could be a fit with one of the world's most admired and sustainable companies! Build your career with us and apply today. #MadeForGreater