Fund Services - Client Facing Accounting Manager

  • Competitive
  • New York, NY, USA
  • Permanent, Full time
  • Morgan Stanley USA
  • 23 May 19

Fund Services - Client Facing Accounting Manager

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 $200 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 700 professionals based in New York, London, Hong Kong, Dublin, Glasgow, Bangalore and Mumbai.

We are seeking a client facing Account Manager for our 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


•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