Institutional Equity Division – Director, Fund Services Valuation & Quality Assurance (New York/Purchase)

MSFS is a wholly owned subsidiary of Morgan Stanley. The parent company, Morgan Stanley, has obtained Financial Holding Company status in the United States. Subsidiaries of Morgan Stanley are subject to the supervision and regulations of the Federal Reserve Bank. MSFS is an independent legal and business venture within Morgan Stanley. It provides services on a stand-alone basis, independently from other Morgan Stanley affiliates.

The Services Offered By MSFS Include

• Accounting support
• Investor Services
• Tax Services
• Middle Office support
• Analytics
• Corporate Secretary Services
• StratumSM, investor transparency reporting.

Job Purpose

The Valuation & Quality Assurance Review Team plays a key role in fund accounting oversight within the global MSFS model, including an assessment of whether the pricing approach taken by clients is reasonable based on the benchmarking process conducted by MSFS. This is a hybrid role of Valuation and Quality Assurance within the Accounting space, with more emphasis on Valuation reviews. The successful candidate will be facing off with hedge funds and colleagues in internal teams to resolve queries/price challenges and providing valuable inputs towards enhancing the quality of the NAV being produced.

The successful candidate will be initiating, participating and leading a number of valuation and accounting related projects and initiatives, including ensuring a smooth transition of new clients on to MSFS platforms. These will range from structured projects and initiatives that will be embedded in the monthly workflows to ad hoc initiatives that are likely to be once off or intermittently run.

Principal Accountabilities

• Responsible for ensuring terms of exotic trades are captured correctly and using vendor systems to provide end of day valuation to hedge fund clients.
• Improve and refine process - Understand requirements, prototype and work with developers to enhance in-house system for systematic term capture and pricing.
• Review terms against client communication, trade confirms and middleware systems.
• Obtain valuation for client positions post close of trading and ensure these are captured correctly within client portfolios.
• Face off with hedge funds and colleagues in internal teams to resolve queries/price challenges.
• Assist in the performance of Final Accounting Review of NAVs completed in either the same or other MSFS locations within a defined time delivery schedule
• Develop effective analytical tools and review procedures to enhance NAV deliveries and perform enhanced reviews and provide innovative solutions
• Spearhead Quality Assurance initiatives and projects within the Accounting and Valuation space with a drive towards ensuring consistent high quality work products are delivered
• Provide exception reporting to senior management and functional groups on the adherence of Valuation and Fund Accounting to group policies and procedures
• Design, implement and enhance policies, procedures and controls based on observations
• Build and manage relationships with senior management and other business owners to champion deliverables
• Integrate with global colleagues to ensure standard operating practice
• Maintain up to date knowledge of GAAP and industry updates and ensure relevant application of the same
• Undertake any other responsibilities, tasks or activities as reasonably required

Skills Required

• Understanding of fixed income, credit, interest rate and derivatives products.
• Understanding of middleware and valuation systems such as MarkIt, SuperD, Bloomberg etc. preferable.
• Public accounting, Private Equity / Hedge Fund Administration or management experience is a distinct advantage.
• Experience in dealing with hybrid structures, including calculation methodologies (waterfalls etc.) and hedge funds/regulated funds additionally would be an advantage.
• 5 years of post-qualification experience (PQE), preferably including public accounting experience supporting investment-related companies. The ideal candidate will have extensive experience and a thorough understanding of industry and accounting practices.
• Strong technical skills. US GAAP knowledge required including strong understanding of hedge fund structures. Knowledge of other accounting standards like IFRS would be an advantage
• Knowledge of the Irish regulatory requirements (particularly UCITS and AIF type structures and reporting requirements, including daily reporting requirements) would be an advantage.
• Proven ability to advise/influence group managers, employees and senior management
• Previous Quality Assurance experience in a related field would be an advantage.
• Excellent interpersonal skills, both oral and written
• Broad and deep understanding of accounting and operational issues related to hedge fund, private equity and regulated funds administration
• Ability to think strategically with excellent planning and prioritization skills
• Ability to deal effectively across all levels of the firm’s extensive support structure
• Ability to work independently and as part of a global team
• Dynamic leader and proven team player
• Ability to handle pressure effectively
• Execute sound judgment on escalating risk
• Strong work ethic and ability to be flexible and be involved in ad hoc projects as and when they arise
• Fully completed Accounting qualification/certification e.g. CPA, CA, ACCA, CIMA or a CFA accreditation is a distinct advantage

Morgan Stanley is an equal opportunities employer. We work to provide a supportive and inclusive environment where all individuals can maximize 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.

What You Can Expect From Morgan Stanley

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 $95,000 and $190,000 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.