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 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 * 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 WHAT YOU CAN EXPECT FROM MORGAN STANLEY: At Morgan Stanley, we raise, manage and allocate capital for our clients – helping them reach their goals. We do it in a way that’s differentiated – and we’ve done that for 90 years. Our values - putting clients first, doing the right...