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This position has closed. Northern Trust removed this listing from their careers page on Oct 6, 2026. The interview prep below is still useful, and there are similar open roles at the bottom of this page.

Consultant, Fund Administration, Integrated Portfolio Services (IPS)

Northern Trust · Chicago, IL · $74,200–$126,200 a year · Full time

Posted Sep 23, 2026 · We last checked this listing on Oct 4, 2026

Likely interview questions for this role

Written from this job description, not a generic list. Each one notes what the interviewer is really checking.

About your past

Tell me about a time you caught an error that would have reached a client. How did you find it?

What they are checking: Attention to detail backed by a repeatable checking habit, not luck.

Describe how you handle a day with heavy trade volume and tight deadlines.

What they are checking: Whether they stay accurate under pressure in a fast, demanding hedge fund environment.

Tell me about a time you took initiative beyond your assigned tasks to improve a process.

What they are checking: Evidence of the self-starter behavior the posting asks for, with a concrete result.

What would you do

You find a cash break with a prime broker that's been open for three days. What do you do?

What they are checking: Urgency and method in chasing aged breaks before they affect the NAV or client trust.

How do you explain a reconciliation break to a client's operations team who believes the error is yours?

What they are checking: Calm, evidence-based communication with sophisticated clients during disputes over who is right.

About the work

Walk me through your daily reconciliation of positions and transactions for a hedge fund holding equities, futures and OTC derivatives.

What they are checking: Whether they know the actual workflow and the different break sources for each asset class.

How do OTC products like swaps or options create reconciliation challenges that listed products don't?

What they are checking: Understanding of counterparty statements, valuation differences and lifecycle events that complicate OTC reconciliation.

What fixed income details trip people up when reconciling positions and accruals?

What they are checking: Working knowledge of accrued interest, factors on amortizing securities and settlement conventions that create breaks.

How would you use Excel or another tool to speed up a repetitive reconciliation task?

What they are checking: Practical automation skills that reduce manual risk, which matters with many funds and daily cycles.

A futures position shows the right quantity but the wrong P&L. Where do you start looking?

What they are checking: Diagnostic thinking about prices, multipliers, variation margin and trade dates on futures.

Practice this interview out loud.

Offer builds a real interview for this exact role at Northern Trust from your resume and this job description, asks the questions one at a time, and tells you what landed. The first one is free.

Practice this out loud

The full job description

As published by Northern Trust.

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. Consultant, Fund Administration, Integrated Portfolio Services (IPS) Summary: The job involves working for Northern Trust Hedge Fund Services, a Global fund administrator, specializing in administering assets of complex hedge funds. The successful candidate will be an ambitious self-starter who has demonstrated the ability to function as an effective and strategic member in a dynamic, fast-paced and demanding environment. Key Duties and Responsibilities: • Daily reconciliation of transactions and positions for Equities, Futures, Fixed Income Products, different OTC products etc. and disseminate the right results to relevant Shared Services Groups • Analyzes and understands all security and cash position differences related to reconciliations • Actively engage with different internal Shared Service Groups (SSGs), Client and Primary Admin stream to timely resolve any open breaks, issues and provide timely updates for any inquiries and SLA issues to every stakeholder(s) involved • Perform daily review of reconciliations and execute controls • Assist with project work related to increasing efficiency and improving control environment • Work closely with in house technology resources to problem solve and improve processes that increase scalability and bring in right controls and efficiency in the process • Actively work with the extended teams at different geographical locations and provide the best possible information and training all while maintaining the highest level of data integrity Knowledge / Skills: • A College or University degree and 2-3 years of work experience preferred. • Excellent oral and written communication skills are required • In-depth Functional / Industry Knowledge is preferred • Highly flexible and adaptable to change • Able to work in tight SLA schedules and able to manage multiple tasks without losing focus • Proficient in Microsoft Excel and other MS Office applications • Python knowledge preferred • Project management experience • Excellent analytical, organizational and problem-solving skills • Ability to work independently and cooperatively within a team environment • Client focused #LI-HY #LI-CL1 Salary Range: $74,200 - 126,200 USD 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.