Morgan Stanley
Fund Services - Hedge Fund/Private Equity Accounting Manager
Morgan Stanley, Purchase, New York, United States, 10577
Fund Services - Hedge Fund/Private Equity Accounting Manager
Join to apply for the Fund Services - Hedge Fund/Private Equity Accounting Manager role at Morgan Stanley. Overview
Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments and individuals from more than 1,200 offices in 43 countries. As a market leader, the talent and passion of our people is critical to our success. Together, we share a common set of values rooted in integrity, excellence and strong team ethic. Morgan Stanley can provide a superior foundation for building a professional career - a place for people to learn, to achieve and grow. A philosophy that balances personal lifestyles, perspectives and needs is an important part of our culture. Fund Services
is a wholly owned Morgan Stanley subsidiary administering over $600 billion of hedge fund assets. Using the Firm’s proprietary, globally accessible technology platform, the business provides a full range of fund administration services, including daily accounting and financial reporting; transfer agency and investor services; middle and back-office support; and integrated portfolio analytics. Morgan Stanley Fund Services is supported by 1,350 professionals based in New York, London, Hong Kong, Dublin, Glasgow, Bangalore and Mumbai. 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, and 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 SSAE 16 preparation a plus Tax knowledge and experience in tax return preparation a plus Knowledge of IFRS a plus Location
Purchase, NY (Hybrid) What You Can Expect From Morgan Stanley
We are committed to maintaining the first-class service and high standard of excellence that have defined Morgan Stanley for over 89 years. Our values – putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back – guide the decisions we make every day. Morgan Stanley offers attractive and comprehensive employee benefits and perks, with opportunities to grow within the company. Expected base pay rates for the role will be between $95,000 and $190,000 per year at the commencement of employment. Base pay is determined on an individualized basis and is part of a total compensation package that may include commission, incentive compensation, discretionary bonuses, and other benefits. Equal Opportunity
Morgan Stanley is an equal opportunity employer committed to diversifying its workforce (M/F/Disability/Vet). It is the policy of the Firm to ensure equal employment opportunity without discrimination or harassment on the basis of race, color, religion, creed, age, sex, gender identity or expression, transgender, sexual orientation, national origin, citizenship, disability, marital and civil partnership/union status, pregnancy, veteran or military service status, genetic information, or any other characteristic protected by law.
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Join to apply for the Fund Services - Hedge Fund/Private Equity Accounting Manager role at Morgan Stanley. Overview
Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments and individuals from more than 1,200 offices in 43 countries. As a market leader, the talent and passion of our people is critical to our success. Together, we share a common set of values rooted in integrity, excellence and strong team ethic. Morgan Stanley can provide a superior foundation for building a professional career - a place for people to learn, to achieve and grow. A philosophy that balances personal lifestyles, perspectives and needs is an important part of our culture. Fund Services
is a wholly owned Morgan Stanley subsidiary administering over $600 billion of hedge fund assets. Using the Firm’s proprietary, globally accessible technology platform, the business provides a full range of fund administration services, including daily accounting and financial reporting; transfer agency and investor services; middle and back-office support; and integrated portfolio analytics. Morgan Stanley Fund Services is supported by 1,350 professionals based in New York, London, Hong Kong, Dublin, Glasgow, Bangalore and Mumbai. 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, and 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 SSAE 16 preparation a plus Tax knowledge and experience in tax return preparation a plus Knowledge of IFRS a plus Location
Purchase, NY (Hybrid) What You Can Expect From Morgan Stanley
We are committed to maintaining the first-class service and high standard of excellence that have defined Morgan Stanley for over 89 years. Our values – putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back – guide the decisions we make every day. Morgan Stanley offers attractive and comprehensive employee benefits and perks, with opportunities to grow within the company. Expected base pay rates for the role will be between $95,000 and $190,000 per year at the commencement of employment. Base pay is determined on an individualized basis and is part of a total compensation package that may include commission, incentive compensation, discretionary bonuses, and other benefits. Equal Opportunity
Morgan Stanley is an equal opportunity employer committed to diversifying its workforce (M/F/Disability/Vet). It is the policy of the Firm to ensure equal employment opportunity without discrimination or harassment on the basis of race, color, religion, creed, age, sex, gender identity or expression, transgender, sexual orientation, national origin, citizenship, disability, marital and civil partnership/union status, pregnancy, veteran or military service status, genetic information, or any other characteristic protected by law.
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