What you'll do in the role:Morgan Stanley Services Group, Inc. is seeking an Associate, Fund Services-Accounting in New York, New York to work on client relationships from an accounting perspective and in collaboration with other functional internal teams. For each client, coordinate with the Firm's offshore operations and clients to resolve daily trade and accounting breaks. Prepare and review monthly account closing documents in accordance with accounting procedures and controls. Ensure all fund expenses are accrued timely and in accordance with GAAP. Perform monthly master-feeder, inclusive of Side Pockets, investor accounting allocations using proprietary Morgan Stanley tools and processes. Prepare and review 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. Ensure monthly portfolio valuations are reviewed and approved prior to distribution to clients and reviewed and approved by clients prior to distribution to investors. Review key legal fund offering documents and identify possible accounting or administrative implementation issues. Assist client conversion teams with new client set up and accounting conversion implementation. Identify and implement solutions to problems including accounting, operations, and investor service. Prepare and review position and cash reconciliations between clients and their custodians. Coordinate year-end audit with client and independent auditors, host status calls with the same, provide audit documentation and assist auditors with their queries, perform detail review of client draft financial statements and support. Telecommuting permitted up to 2 days per week.
What you'll bring to the role:-Requires a Bachelor's in Accounting, Finance, or a related field of study
-Requires three (3) years of experience in the position offered or three (3) years as an Analyst, or a closely related occupation.
-Requires three (3) years of experience with the following skills:
- Utilizing understanding of hedge fund and family office products and accounting treatment of various asset classes including equities, derivatives, fixed income, private equity, and fund of funds;
- Hedge fund specific accounting practices including investor allocations, performance fee calculations, capital calls, commitments, and distributions;
- Administering clients including the preparation of complex calculations not limited to performance and management fees;
- Reviewing reconciliations, as well as handling numerous client requests;
- Offshore share-based accounting and the applicable regulatory requirements;
- Examining complex financial data;
- Identifying, evaluating and escalating potential risks to the business;
- Providing year-end audit assistance and preparation of audit reports for master-feeder and fund-of-funds structures;
- Internal control oversight and testing;
- Working closely with investor relations, tax, financial reporting, and operations teams to ensure client needs are met;
- Presenting key data to internal and external stakeholders;
- Collaborating with product development teams to eliminate application deficiencies;
- Reviewing fund offering documentation and assisting with the onboarding of new clients.
Expected base pay rates for the role will be between $160,000 -$160,000 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.
Telecommuting permitted up to 2 days per week.
