Job Opportunity

AVP – Portfolio Accounting Operations

Morgan Stanley | West Conshohocken, PA

Job Summary

Responsible for operations and portfolio management support activities for the private equity fund of fund vehicles and separately managed accounts. Bachelor’s degree or equivalent in Accounting, Finance, or related business field. 5+ years of investment accounting experience.

Details

This position will work specifically with the Alternative Investment Services (AIS) team in support of the Alternative Investment Partners (AIP) Investment Management Team. The AIP Team is responsible for portfolio management and client service for Morgan Stanley’s alternative investments fund of funds strategies. The AIP Team currently manages 250+ investment vehicles that utilize a variety of alternative investment strategies and vehicle structures. Total net assets under management exceed $43 billion. The individual in this position will be responsible for operations and portfolio management support activities for the AIP private equity fund of fund vehicles and separately managed accounts, as well as other private equity funds managed by Morgan Stanley Investment Management.

Responsibilities in this position will result in detailed knowledge of accounting and operations for the AIP portfolios, including investments in private equity funds, real estate funds, secondary investments, and co-investments as well as derivative investments, such as options and forward currency contracts. This position will also involve developing and maintaining external relationships with AIP business stakeholders and third party service providers to ensure proper support for the investment vehicles. This position will be located in the West Conshohocken, PA office.

Responsibilities:

* Actively monitor critical investment and investor activity for multiple portfolios and custodian banks, ensuring proper settlement of transactions; develop significant level of expertise of the holdings, terms and transactions of multiple portfolios to provide intuitive and proactive oversight of these portfolios
* Oversee third party service providers in posting activity to the portfolios general ledger and maintaining portfolio activity in AIP’s parallel portfolio accounting system, Investran
* Reconcile transactions, valuations, management fees, carried interest calculations, P&L components, and other activity between Investran and the third party service provider’s records on a monthly/quarterly basis to ensure accuracy
* Verify accuracy of investor capital account balances, NAV allocations, and capital activity on a monthly/quarterly basis
* Understand and interpret underlying fund investment financial statements for the purpose of preparing and/or calculating their respective fair valuation amounts, which includes documentation based on various sources of investment information and detailed reviews of financial statements and quarterly reports for regular internal fair valuation committee meeting approval
* Work on complex structures that contain multiple vehicles such as leveraged corporate blockers and AIV’s. Develop an understanding of these structures and ensure adequate controls are in place
* Prepare various different carried interest calculations for complex structures and also different waterfall types such as specific investment exclusion. Understand carried interest based on terms as defined in Limited Partnership Agreements
* Generate cash projections, fund capacity calculations and investor capital calls/distribution calculations for the AIP portfolios
* Provide support for AIP product, regulatory, and other audits; assisting with review of offering documents for new AIP products and supporting other areas of product development, as needed
* Work effectively with third party service providers and internal parties to ensure a high level of service for the AIP products; raise service issues in an appropriate manner and following up issues to resolution; create or enhance processes to improve the efficiency of the AIP Team
* Perform quarterly compliance reporting and highlight instances in which there may be potential noncompliance with the AIP products governing documents
* Sign-off on net asset value and performance based information for AIP on a monthly/quarterly basis; provide regular daily support and respond to numerous ad-hoc requests from investment management, investors and other internal and external stakeholders
* Perform other related functions or responsibilities as needed or assigned

Qualifications:

* Bachelor’s degree or equivalent in Accounting, Finance, or related business field
* Minimum of 5 years of investment accounting experience
* Experience in private equity/real estate or private equity/real estate fund of funds investment accounting is required. Knowledge of hedge fund accounting and/or derivatives, or experience with Investran, is a plus
* Strong organizational and analytical skills and the ability to effectively summarize findings, both verbally and in writing, in a clear and concise manner
* Detail-oriented and highly motivated
* Ability to work effectively with minimal supervision

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  • Min Education: BA/BS
  • Min Experience: 5 years