Associate, Fund Services-Accounting

Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment, 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.

In the Morgan Stanley Fund Services division, we work with a global institutional client base to provide hedge funds, multi-asset class investors, family offices and private equity Firms with innovative product solutions.

Morgan Stanley Services Group, Inc. is seeking an Associate, Fund Services-Accounting in New York, New York to work on client relationships from an accounting perspective and in collaboration with other functional internal teams. For each client, coordinate with the Firm’s offshore operations and clients to resolve daily trade and accounting breaks. Prepare and review monthly account closing documents in accordance with accounting procedures and controls. Ensure all fund expenses are accrued timely and in accordance with GAAP. Perform monthly master-feeder, inclusive of Side Pockets, investor accounting allocations using proprietary Morgan Stanley tools and processes. 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 portfolio valuations are reviewed and approved prior to distribution to clients and reviewed and approved by clients prior to distribution to investors. Review key legal fund offering documents and identify possible accounting or administrative implementation issues. Assist client conversion teams with new client set up and accounting conversion implementation. Identify and implement solutions to problems including accounting, operations, and investor service. Prepare and review position and cash reconciliations between clients and their custodians. Coordinate year-end audit with client and independent auditors, host status calls with the same, provide audit documentation and assist auditors with their queries, perform detail review of client draft financial statements and support. Telecommuting permitted up to 2 days per week.

-Requires a Bachelor’s in Accounting, Finance, or a related field of study

-Requires three (3) years of experience in the position offered or three (3) years as an Analyst, or a closely related occupation.

-Requires three (3) years of experience with the following skills:

• Utilizing understanding of hedge fund and family office products and accounting treatment of various asset classes including equities, derivatives, fixed income, private equity, and fund of funds;
• Hedge fund specific accounting practices including investor allocations, performance fee calculations, capital calls, commitments, and distributions;
• Administering clients including the preparation of complex calculations not limited to performance and management fees;
• Reviewing reconciliations, as well as handling numerous client requests;
• Offshore share-based accounting and the applicable regulatory requirements;
• Examining complex financial data;
• Identifying, evaluating and escalating potential risks to the business;
• Providing year-end audit assistance and preparation of audit reports for master-feeder and fund-of-funds structures;
• Internal control oversight and testing;
• Working closely with investor relations, tax, financial reporting, and operations teams to ensure client needs are met;
• Presenting key data to internal and external stakeholders;
• Collaborating with product development teams to eliminate application deficiencies;
• Reviewing fund offering documentation and assisting with the onboarding of new clients.

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 thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back - aren’t just beliefs, they guide the decisions we make every day to do what's best for our clients, communities and more than 80,000 employees in 1,200 offices across 42 countries. At Morgan Stanley, you’ll find an opportunity to work alongside the best and the brightest, in an environment where you are supported and empowered. Our teams are relentless collaborators and creative thinkers, fueled by their diverse backgrounds and experiences. We are proud to support our employees and their families at every point along their work-life journey, offering some of the most attractive and comprehensive employee benefits and perks in the industry. There’s also ample opportunity to move about the business for those who show passion and grit in their work.

To learn more about our offices across the globe, please copy and paste https://www.morganstanley.com/about-us/global-offices​ into your browser.

Expected base pay rates for the role will be between $160,000 -$160,000 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.

Morgan Stanley is an equal opportunity employer committed to building and maintaining a workforce that is diverse in experience and background.  Our recruiting efforts reflect our strong commitment to a culture of inclusion, where individuals are hired, developed, and advanced based on their skills and talents.

Our workforce reflects a broad cross-section of the global communities in which we operate, bringing a variety of backgrounds, talents, perspectives, and experiences.

For more information, please visit: https://www.morganstanley.com/people-opportunities/eeo.