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

• 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

• 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