Job Opportunity
Sr. Associate – Fund Accounting
Morgan Stanley | New York, NY
Job Summary
Oversight and governance of outsourced fund administration functions. Bachelor’s Degree in Accounting. 5+ years of relevant fund accounting experience including financial statement preparation in private credit and equity, real estate or infrastructure businesses with close-end and open-end structure preferred.
Details
Morgan Stanley Investment Management (“MSIM”), together with its investment advisory affiliates, has approximately 1,200 investment professionals around the world and operates in 23 countries with $1.5Tn in assets under management or supervision as of Sept 30, 2021. Morgan Stanley Investment Management strives to provide outstanding long-term investment performance, service and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations and individuals worldwide.
Morgan Stanley Investment Management is a leader in the global investment management business. Its support groups serve the firm’s portfolio managers and associated teams by providing high quality support through excellence in processing, reporting, and management of strategic initiatives.
The IM Office of the COO is responsible for identifying, assessing, managing and monitoring risk across all IM businesses including fund operations and third party service providers; and developing divisional presentations, reporting and analysis for IM and Firm management.
Responsibilities:
* Oversight and governance of outsourced fund administration functions:
– Quarterly and annual financial statements review and coordination with external auditors for year-end audit
– Review quarterly and annual investor reports
– Review NAV strikes for capital call and share issuance
– Review all cash movements, acquisitions, sales, capital calls, distributions and credit facility
– Review waterfall model, management fee, performance fee and carried interest calculations
– Fund-reimbursable expense management, review of invoices and payments
– Conduct periodic vendor management and service level agreements review
– Coordinate bank and custody account opening, deposit and withdrawal of securities
– Work with teams in different time zones
* Participate and assist in division-wide strategic initiatives and continuous assessment of service models for optimization
* Coordinate and provide non-financial data required by the business unit such as customer flows, assets under management (AUM), validation and commentary, enforce business rules, etc.
* Legal Entity Management
– New fund and investment structure launches – review of offering memorandum, partnership agreements, service agreements and entity structure charts
– Liaise with MS accounting policy and corporate accounting for entity consolidation and reporting as well as MS firm accounting
– Conduct Request for Proposal (RFP) process for fund administrators, external auditors, custodial services, etc., with and provide recommendations
* Regulatory Reporting
– Review fund and investor level information from fund administrators supporting various regulatory reporting in all applicable jurisdictions
* Ad-hoc projects and requests
Qualifications:
* Bachelor’s Degree in Accounting
* Public accounting and/or fund administration experience preferred
* 5-8 years of relevant fund accounting experience including financial statement preparation in private credit and equity, real estate and/or infrastructure businesses with close-end and open-end structure preferred
* Self-motivated, professional demeanor and desire to learn
* Team player with strong communication skills
* Ability to multitask and demonstrate problem-solving skills in a fast-paced environment
* Highly motivated and detail-oriented individual
* Well-organized, quick learner, flexible and proactive, and strong work ethic
* High level of proficiency with Microsoft Excel and other Microsoft Office applications
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- Min Education: BA/BS
- Min Experience: 5 years