MSFS, Client Account Manager, Director / Vice President
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.
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Morgan Stanley Fund Services (“MSFS”) is a hedge fund administration business supporting the accounting and investor servicing needs of its hedge fund clients. The headquarters of the business are located in Purchase, New York, and other offices are maintained in Dublin, Ireland; London, England; Glasgow, Scotland; and Mumbai, India. Morgan Stanley Fund Services is committed to providing the highest standard of services to the funds that we administer. Investor Services lies at the heart of this commitment.
An opportunity has arisen within Morgan Stanley Fund Services (MSFS) for Client Account Managers. MSFS provides fund administration business to Hedge Fund clients. The Client Account Manager role has a direct impact on the success of the business; you will serve as the primary contact to hedge fund clients. The position requires strong communication, hedge fund accounting and relationship management skills together with in-depth industry experience.
- Act as primary point of contact for hedge fund clients
- Manage approximately 1-5 client relationships
- Review and understand key fund organizational documents and ensure fund setup is consistent with the fund’s documents
- Assist MSFS conversion teams with new client set up and accounting conversion implementation
- Coordinate with MSFS’ offshore operations and clients to resolve trade and accounting breaks
- Review position and cash reconciliations between clients and their custodians
- Perform account closing procedures and ensure compliance with MSFS’ established accounting procedures and controls
- Ensure all fund expenses are accrued timely and in accordance with applicable accounting guidelines
- Review investor allocations prior to distribution to clients and investors
- Review accounting journal entries related to standard accruals, management and incentive fees (calculated in accordance with fund documents), derivative contract financing and broker financing
- Coordinate valuation signoff process with relevant accounting colleagues in other Global locations
- Review and approve portfolio valuations to ensure compliance with Fund governing documents prior to distribution to clients and ensure client approval prior to distribution to investors/third parties
- Idea generation and ongoing assessment and improvement of the operational service model
- Coordinate with global colleagues across various groups (accounting, operations, investor services) to identify and implement solutions to problems –and leverage firm resources as appropriate to strengthen control environment and improve service model
- Act as a conduit between clients and their custodians/prime brokers
- Coordinate yearend audit with client and their independent auditors
- Review draft annual financial statements
- Undergraduate degree (i.e. Bachelor’s degree or its equivalent)
- Minimum 5 years prior experience in accounting related role
- Extensive knowledge of hedge fund and hedge fund investor level accounting concepts including:
- Offshore accounting (Class/series)
- Offshore accounting (Equalization methods)
- Partnership accounting
- Accounting for complex management and incentive fee/allocation terms (e.g. hurdle rates, high water mark/loss carry forward, etc.)
- Side-pocket accounting
- Allocation of new issues
- Strong knowledge of U.S. generally accepted accounting principles (GAAP) and/or International Financial Reporting Standards (IFRS), as applicable
- Experience in GAAP/IFRS financial statement reporting requirements, including strong understanding of hedge fund structures (master-feeder, mini-master, fund-of-funds)
- Strong team and interpersonal skills
- Strong communication skills (both written and verbal), and relationship management skills
- Knowledge of different product types, including but not limited to derivatives (total return swaps, credit default swaps, interest rate swaps, futures, forwards), bonds, options, equity instruments, etc.
- Ability to handle pressure effectively
- Exercise sound judgment on escalating risk
- Ability to communicate effectively across cultures
- Demonstrate ability to leverage resources across the various other sub functions (i.e.: Tax, IS, Portfolio Analytics, etc.)
- Consistently deliver high quality work product
- Apply sound business judgment
- Encourage innovative ideas and solutions to problems
- Controls & Risk Management – focus on enhancing control and managing operational risk
- CPA/CA/Qualified license a plus but not required
- Prior experience with an asset manager, fund administrator, or public accounting firm, preferred
- Tax knowledge and experience in tax return preparation a plus
Morgan Stanley is an equal opportunities employer. We work to provide a supportive and inclusive environment where all individuals can maximise their full potential. Our skilled and creative workforce is comprised of individuals drawn from a broad cross section of the global communities in which we operate and who reflect a variety of backgrounds, talents, perspectives and experiences. Our strong commitment to a culture of inclusion is evident through our constant focus on recruiting, developing and advancing individuals based on their skills and talents.
Interested in flexible working opportunities? Morgan Stanley empowers employees to have greater freedom of choice through flexible working arrangements. Speak to our recruitment team to find out more.
For further information, and to apply, please visit our website via the “Apply” button below.