Fund Services - Hedge Fund/Private Equity Accounting Manager

Morgan Stanley Fund Services

Established in 2004, Morgan Stanley Fund Services (MSFS) is a global business within the Institutional Equities Division (IED) that provides fund administration services for over $700billion in assets across 350+ hedge funds, private equity and large family offices clients. Our best-in-class offering includes accounting and investors services, portfolio analytics, middle-office functions, regulatory and financial reporting, and tax services. Delivering these services to our clients and their investors is a diverse team of 1,400 highly skilled employees across the globe based in New York, London, Glasgow, Dublin, Mumbai, Bengaluru, and Hong Kong. Joining MSFS, you will discover a dynamic environment where every day offers new opportunities for personal growth and innovation. Here at MSFS your career isn’t just a job, it’s an incredible journey fueled by collaboration, challenge, and the chance to make a meaningful impact to our business, our clients, their investors and the wider Morgan Stanley franchise.

We are seeking a client facing Account Manager for our NYC and Purchase, NY offices.

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

  • Coordinating 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

WHAT YOU CAN EXPECT FROM MORGAN STANLEY:

At Morgan Stanley, we raise, manage and allocate capital for our clients – helping them reach their goals. We do it in a way that’s differentiated – and we’ve done that for 90 years.  Our values - putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back - aren’t just beliefs, they guide the decisions we make every day to do what's best for our clients, communities and more than 80,000 employees in 1,200 offices across 42 countries. At Morgan Stanley, you’ll find an opportunity to work alongside the best and the brightest, in an environment where you are supported and empowered. Our teams are relentless collaborators and creative