Fund Services - Hedge Fund/PE Client Facing Account Manager

Fund Services - Hedge Fund / PE Client Facing Account Manager

Job Number : 3254266

3254266

Posting Date

Jun 12, 2024

Primary Location

Americas-United States of America-New York-PurchaseEducation Level : Bachelor's Degree

Fund ServicesEmployment Type : Full TimeJob Level : Director

Description

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

This wholly owned subsidiary of Morgan Stanley administers 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.

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

Principal Duties

• 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

Qualifications

Requirements

• Bachelor’s degree
• Minimum 5 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

Expected base pay rates for the role will be between $105,000and $170,000per yearat 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.

Morgan Stanley's goal is to build and maintain a workforce that is diverse in experience and background but uniform in reflecting our standards of integrity and excellence.

Consequently, our recruiting efforts reflect our desire to attract and retain the best and brightest from all talent pools.

We want to be the first choice for prospective employees.

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, sex stereotype, gender, 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.

Morgan Stanley is an equal opportunity employer committed to diversifying its workforce (M / F / Disability / Vet).