Vice President, Fund Services Accounting

Vice President, Fund Services Accounting

Morgan Stanley Fund Services Inc. seeks a Vice President, Fund Services Accounting in Purchase, New York. Act as point of contact for hedge fund clients. Assist client conversion teams with new clients set up and accounting conversion implementation. Identify and implement solutions to problems (accounting, operations, and investor service). Prepare and review monthly account closing procedures and ensure compliance with established accounting procedures and controls. Ensure all fund expenses are accrued timely and in accordance with GAAP. Prepare and review investor allocations across different fund structures (hedge funds, hybrid funds, master feeder structures). Review key legal fund offering documents and identify possible accounting or administrative implementation issues. Prepare and review 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. Ensure monthly valuations are reviewed and approved in accordance with MSFS policies and procedures prior to distribution to clients. Ensure that the final NAV is reviewed and approved by clients prior to distribution to investors. Leverage firm resources as appropriate to strengthen the control environment. Responsible for preparing and reviewing position and cash reconciliations between clients and their custodians; coordinating year-end audit with client and independent auditors; and preparing and reviewing draft annual financial statements. Coordinate with Firm's offshore operations and clients to resolve daily trade and accounting breaks. Telecommuting permitted up to 2 days per week.

Salary : Expected base pay rates for the role will be between $176,000 and $200,000 per year at the commencement of employment. However, base pay if hired will be determined on an individualized basis and is only part of the total compensation package, which, depending on the position, may also include commission earnings, incentive compensation, discretionary bonuses, other short and long-term incentive packages, and other Morgan Stanley sponsored benefit programs.

Requirements : Requires a Bachelor's degree in Business Administration, Finance, Accounting, or a related field of study and five (5) years of experience in the position offered or five (5) years as a Senior Manager, Manager, Associate, or a related role in financial services. Requires five (5) years of experience with : working in a client-facing accounting role; hedge fund investor and accounting concepts, including offshore class and series accounting, partnership accounting, accounting for complex management and incentive fee terms (including hurdle rates, waterfall and modified incentive fees), offshore fee deferrals, and allocation of new issues; product types, including derivatives, fixed income, options, and equity instruments; U.S. generally accepted accounting principles (GAAP); GAAP financial statement preparation; hedge fund structures including master-feeder, mini-master, and fund-of-funds); working with tight client deadlines and adhering to agreed upon service level agreements while following policies and procedures put in place to ensure accuracy of NAVs; and working with internal or external clients.