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40 Act Specialist, Fund Governance Solutions

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Legal
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75192 Requisition #
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The Fund Governance Solutions group provides regulatory administration and compliance support services to assist clients in meeting the regulatory and compliance obligations associated with managing funds registered under the Investment Company Act of 1940, as amended (the “1940 Act”); collective investment trusts; and partnership vehicles. The group also provides compliance support to the Global Fund Services (“GFS”) business and is responsible for the oversight and testing of Northern Trust’s Rule 38a-1 Program for Registered Mutual Fund Clients.

The 40 Act Specialist will serve as a resource for clients on mutual fund disclosure and governance issues. In addition, the 40 Act Specialist will be responsible for the documentation and preparation of complex regulatory filings and reports; the drafting and preparation of board and committee materials; the participation in compliance functions; and the oversight of team activities related to board and committee meeting support, disclosure, and new fund or product launches.


Primary Responsibilities

  • Engaging in consultative discussions on a wide range of legal matters that impact mutual funds with client senior management, including fund Chief Executive Officers, Chief Compliance Officers and Chief Financial Officers
  • Actively engage in and manage the review and production of materials for client board meetings notices, agendas and resolutions 
  • Actively engage in and manage the production and filing of forms and notices with the SEC on behalf of mutual fund clients, including Forms N-1A, N-CSR, N-CEN and 24f-2
  • Attend client board meetings and record meeting minutes
  • Manage and oversee the work of other professional on the team, including cultivating an ideas-driven collaborative work environment 
  • Perform research on issues regarding the 1940 Act and other mutual fund regulations, as needed
  • Assist in client product development initiatives, including drafting of offering documents for new funds and drafting proxy and information statements
  • Assist with response to SEC regulatory examinations and inquiries, as necessary
  • Serve as a resource internally for 1940 Act compliance and related SEC rules and developments
  • Assist with client development activities
Required Knowledge/Skills
  • Excellent oral and written communication skills
  • Deep knowledge of the 1940 Act and the rule and regulations thereunder, as well as an understanding of other federal and state laws generally applicable to mutual funds and mutual fund operations
  • Ability to independently assess client projects and determine staffing, deliverable timelines and prioritization of response. 
  • Ability to work under pressure and prioritize competing tasks that require the highest level of attention to detail
  • Ability to establish good working relationships with clients, members of Boards of Trustees, Fund Counsels, chief compliance officers, auditors and financial printers
  • Excellent organizational and project management skills
  • Strong Analytical and problem-solving skills
  • Ability to work independently and as a part of a collaborative group 
  • Ability to motivate and supervise team members, including overseeing the quality and timeliness of client deliverables
  • Must be Comfortable in a dynamic and results-driven environment

Preferred Knowledge/Skills

  • Experience providing disclosure support to sub-advised funds and fund-of-funds
  • Understanding the blue sky registration process 
  • Advanced proficiency in MS Excel and PowerPoint
Qualifications

  • A minimum of ten (10) years of professional work experience in the financial services industry, with at least six (6) years of experience working for a mutual fund organization (adviser or otherwise), a mutual fund administrator or service provider, the investment management practice of a law firm, or the SEC or other regulatory agency is required.  
  • A college or university degree in Business Administration, Finance, Economics, Accounting, or related field and/or relevant proven work experience is required.  
  • A JD is preferred, but not required

About Northern Trust


For more than a century, Northern Trust has worked hard building our legacy of outstanding service, expertise and integrity. From a Chicago-based bank founded in 1889, we now have more than 20 international locations and 18,500 employees globally. We serve the world’s most-sophisticated clients – from sovereign wealth funds and the wealthiest individuals and families, to the most-successful hedge funds and corporate brands.

We burnished our reputation as a global leader delivering innovative investment management, asset and fund administration, fiduciary and banking solutions enabled by sophisticated, leading technology. And through it all, we continually laid a solid, forward-looking foundation on which future generations can continue growing and achieving greater.


As of December 31, 2018, Northern Trust Corporation had:

$10.1 trillion in assets under custody/administration
$7.6 trillion in assets under custody
$1.1 trillion in assets under management
$132 billion in banking assets 

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United States, Illinois, Chicago

📁 Legal

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Reasonable Accommodation
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), +630-276-5353 (Asia Pacific), +44(0)207 982 4357 (Europe, Middle East and Africa) and let us know the nature of your request and your contact information.

Equal Employment Opportunity Statements
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    • APAC 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.

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      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.

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      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. EEO poster (U.S.)EEO is Law Poster Supplement