Fund Services - Hedge Fund/Private Equity Accounting Manager

About the role

Morgan Stanley Fund Services is seeking a client facing Account Manager for our NYC and Purchase, NY offices. Joining MSFS, you will manage approximately 1-5 client relationships, cooperate with offshore operations and clients to resolve daily trade and accounting breaks, prepare/review monthly account closing procedures, ensure timely accrual of fund expenses, perform monthly master-feeder accounting allocations, prepare/review investor allocations, review accounting journal entries, ensure monthly valuations are reviewed and approved, identify and implement solutions to problems, and assist client conversion teams with new client set up and accounting conversion implementation.

Responsibilities

• Managing approximately 1-5 client relationships
• Cooperating with the Firm’s offshore operations and clients to resolve daily trade and accounting breaks
• Preparing/reviewing monthly account closing procedures and ensuring compliance with established accounting procedures and controls
• Ensuring all fund expenses are accrued timely and in accordance with GAAP
• Performing monthly master-feeder accounting allocations
• Preparing/reviewing investor allocations
• Preparing/reviewing accounting journal entries related to standard accruals, management and incentive fees (calculated in accordance with fund documents), deferred compensation payables, derivative contract financing and broker financing
• Ensuring monthly valuations are reviewed and approved prior to distribution to clients and reviewed and approved by clients prior to distribution to investors
• Reviewing key legal fund offering documents and identifying possible accounting or administrative implementation issues
• Aiding client conversion teams with new client set up and accounting conversion implementation
• Identifying and implementing solutions to problems (accounting, operations, investor service)
• Leveraging firm resources as appropriate to strengthen control environment:
• Prepare/review position and cash reconciliations between clients and their custodians
• Coinciding year-end audit with client and independent auditors
• Preparing/reviewing draft annual financial statements

Requirements

• Bachelor’s degree
• Minimum 7 years prior experience in a client-facing and/or accounting related role
• Extensive knowledge of hedge fund investor, accounting concepts including: Offshore class/series accounting, Partnership accounting, Allocation of new issues, Accounting for complex management and incentive fee terms (hurdle rates), Offshore fee deferrals, Side-pocket accounting
• Strong knowledge of US generally accepted accounting principles (GAAP)
• Experience in GAAP financial statement preparation, including strong understanding of hedge fund structures (master-feeder, mini-master, fund-of-funds)
• Strong team and interpersonal skills
• Strong communication, accounting, industry and relationship management skills

Skills

• Desired: CPA a plus but not required
• Prior experience with a Hedge Fund preferred
• Sarbanes-Oxley 404 related experience or experience in SSAE 16 preparation a plus
• Tax knowledge and experience in tax return preparation a plus
• Knowledge of IFRS a plus

Benefits

Expected base pay rates for the role will be between $95,000 and $190,000 per year at the commencement of employment. However, base pay if hired will be determined on an individualized basis and is only part of the total compensation package, which, depending on the position, may also include commission earnings, incentive compensation, discretionary bonuses, other short and long-term incentive packages, and other Morgan Stanley sponsored benefit programs.

Pay

Base pay rates for the role will be between $95,000 and $190,000 per year at the commencement of employment.

Schedule

Details on the schedule will be provided during the interview process.