MSFS Fund Accountant
Position Description
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.
In 2000 the Institutional Securities division established an Operations team in Glasgow with just 6 employees. Since then our office has grown to over 1000 employees across 6 divisions: Operations, PWM, Finance, Fund Services, Information Technology and Risk Management. Our offices are located in Glasgow's city centre in the heart of the International Financial Services District.
We have built a world class reputation for quality and service and the talent and passion of our people has been critical to our success. We can provide a superior foundation for building a professional career - a place for people to learn, to achieve and to grow. Together we share a common set of values rooted in integrity, excellence and a strong team ethic.
Due to our growing business, we have a demand for career minded people to join our teams. Our opportunities offer unrivaled scope for progression and training within a fast paced, meritocratic and constantly changing environment.
The Fund Accountant will work very closely with Senior Account Managers of Morgan Stanley Fund Services (MSFS) in ensuring first class client relationship and service. They must perform Quality Assurance and technical support work to ensure accurate accounts and Net Asset Value calculations are issued to clients. They will provide technical support for their hedge fund clients and review technical accounting, operating and performance related issues. Clients will invest in a wide range of securities and derivatives providing the Fund Accountant with exposure to complex investments. Knowledge and support for the full range of hedge fund structures and performance fee arrangements is essential. The position requires strong communication, and accounting skills and a high level of hedge fund and security operations knowledge.
Principal Duties:
• Provide technical support to the Fund Accounting team to ensure all aspects of the hedge fund's books and records are accurate and meet industry and regulatory standards.
• Perform risk assessment to ensure resourcing for the support of both the current client base and potential future growth is adequate. Assess knowledge and skill set of the team to set coverage ensuring that there is a match of technical and client knowledge.
• Act as a partner to the client to develop their business in a controlled way and meet all industry and regulatory requirements.
• Develop and manage a team of fund accountants comprising of associates, managers and senior managers. This will include knowledge development, performance review and control.
• Assist in developing the global controls and procedures of fund accounting group within MSFS.
• Provide Accounting solutions to Hedge Funds for independent valuation, investor transparency and regulatory compliance.
• Calculation of daily Net Asset Values (NAV's).
• Perform accounting functions including PL analysis, daily cash projections, calculations of FX transfers required for funding, checking client's contributions redemptions.
• Perform daily, weekly and monthly securities pricing analysis.
• Verify performance by reviewing large PL swings and analysing income/expense journals for validity.
• Adjust activity as necessary for performance processing and reporting.
• Perform and review position and value reconciliations. Identify and resolve all breaks.
• Review and reconcile general ledger exceptions.
• Responsible for ensuring accuracy of non-security related income and expenditure.
• Account for non standard transactions including OTC derivatives.
• Ensure corporate actions are accounted for accurately.
• Perform month end control processes, producing a month end control pack and sign off including review of control packs prepared by members of the team.
• Perform investor level allocations of income and expenses at month end.
• Develop relationship with auditors for the reparation of year end Financial Statements and provision of data to auditors.
• Identify and implement process changes to enhance efficiency.
Skills Required
• Qualified ACCA/CIMA/CA accountant or equivalent essential.
• Current practical experience working within Fund Accounting, operating at Vice President/Senior Management level.
• In depth knowledge of hedge fund structures and accounting.
• Proven experience of resolving accounting issues relating to complex investment products and market valuation issues.
• In depth knowledge of hedge fund and investor level accounting including the adoption of different structures and performance fee charges.
• Awareness of the changes in the regulatory environment impacting hedge funds in all global jurisdictions and the ability to translate these into changes in service provision for clients and regulatory obligations for the client.
• Strong interpersonal and communication skills, both written and verbal.
• Proven ability to communicate effectively across cultures and business groups.
• Execute sound judgment on assessing and escalating risk and implementing risk mitigation processes.
• Ability to adapt business models to a growing client base and business offering.
• High levels of accuracy and numeracy.
• Ability to multi-task.
• Applicants should have a record of accomplishment of delivering against tight deadlines.
• Advanced knowledge of Microsoft Office.
• Advanced knowledge of portfolio accounting systems.
• Advanced knowledge of investor level accounting systems.
• Knowledge of analytics tools and how they work alongside fund accounting systems.
The salary for this role is competitive.
Closing date for applications: 23 August 2013.
Morgan Stanley is an equal opportunities employer. We work to provide a supportive and inclusive environment where all individuals can maximise their full potential.
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