Alternatives Operations Director

Description:

Northern Trust, a prestigious Fortune 500 financial institution with over 130 years of legacy and global presence, is hiring a Director, Alternatives Operations to join their team in Chicago, IL. This full-time, on-site leadership position is central to the strategic development and daily operations oversight of the firm’s growing Alternatives Investment business.

As the Director of Alternatives Operations, reporting to the Global Head of Investment Operations, you will be responsible for shaping and executing a transformative operational strategy. This includes modernizing infrastructure, improving digital capabilities, enhancing vendor oversight, and building high-performing teams across global and local hubs. The successful candidate will foster collaboration across departments such as Investments, COO, Technology, Product, and Data Office to establish a world-class operations framework.

Key Responsibilities:

• Lead and manage operations related to Private Equity, Hedge Funds, and other alternative investments

• Drive the strategic roadmap for operational excellence, data architecture, and system modernization

• Collaborate across internal and external stakeholders to align technology, business needs, and vendor performance

• Ensure robust governance, internal controls, and a strong first line of defense (1LOD)

• Lead transformation initiatives focused on digital innovation, automation, and scalability

• Develop KPIs, monitor performance, and ensure value delivery

• Build and retain talent with strong team development and mentoring strategies

• Influence enterprise-wide operating model evolution with cross-functional integration

Required Knowledge and Skills:

• Deep understanding of alternatives operations, particularly in Private Equity and Hedge Funds

• Experience managing large-scale operations, teams, and vendor relationships (onshore/offshore)

• Proven track record in driving digital transformation and data modernization

• Ability to influence executive leadership and drive organizational change

• Outstanding communication and stakeholder engagement skills

• Strategic mindset with operational precision and cultural awareness

Educational and Professional Requirements:

• Bachelor's degree required; MBA or CFA preferred

• 10–20 years of experience in asset management or alternative investments, with leadership in operations and transformation

Compensation and Benefits:

• Base Salary Range: $137400 to $240400 per year

• Comprehensive benefits including 401(k), pension, health plans, paid time off, parental leave, and bonus eligibility

• Additional wellness and voluntary benefit offerings

What Northern Trust Offers:

• A collaborative, flexible work culture that values integrity and innovation

• Career advancement opportunities and internal mobility

• An inclusive workplace with a strong sense of community impact

• Direct access to senior leadership and decision-makers

• A purposeful, values-driven mission focused on long-term sustainability and client success