Fund Services - Hedge Fund/Private Equity Accounting Manager
Morgan Stanley Fund Services is a global business within the Institutional Equities Division (IED) that provides fund administration services for over $700 billion in assets across 350+ hedge funds, private equity, and large family offices clients. Our team of 1,400 highly skilled employees operates from offices in New York, London, Glasgow, Dublin, Mumbai, Bengaluru, and Hong Kong.
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
Assisting 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.
About Morgan Stanley
Morgan Stanley is an equal opportunity employer committed to building and maintaining a workforce that is diverse in experience and background. Our recruiting efforts reflect our strong commitment to a culture of inclusion, where individuals are hired, developed, and advanced based on their skills and talents. Our workforce reflects a broad cross-section of the global communities in which we operate, bringing a variety of backgrounds, talents, perspectives, and experiences. For more information, please visit: https://www.morganstanley.com/people-opportunities/eeo.