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Morgan Stanley · 3 months ago

Fund Services - Hedge Fund/Private Equity Accounting Manager

New York, NY

Contract

Hybrid

Mid, Senior Level

$95K/yr - $190K/yr

7+ years exp

Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. They are seeking a client-facing Account Manager for their Purchase, NY office to manage client relationships, ensure compliance with accounting procedures, and prepare financial statements for hedge fund assets.

Asset ManagementFinanceFinancial ServicesLending

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

Qualification

Hedge fund accountingGAAP knowledgeClient relationship managementCPA certificationTax return preparationCommunication skillsInterpersonal skillsTeam skills

Required

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