Alternative Investment Services Private Equity Portfolio Accounting Senior Operations Specialist 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. As a market leader, the talent and passion of our people is critical to our success. Together, we share a common set of values rooted in integrity, excellence and strong team ethic. Morgan Stanley can provide a superior foundation for building a professional career - a place for people to learn, to achieve and grow. A philosophy that balances personal lifestyles, perspectives and needs is an important part of our culture. Operations is one of the largest divisions in the firm and has diverse responsibilities, including correctly settling and recording millions of stock trades per day, identifying and mitigating all operational risks, developing strong client relationships and partnering with technology to optimize our processes.
This position will work specifically with the Alternative Investment Services (AIS) team in support of the Alternative Investment Partners (AIP) Investment Management Team. The AIP Team is responsible for portfolio management and client service for Morgan Stanley's alternative investments fund of funds strategies. The AIP Team currently manages 200+ investment vehicles that utilize a variety of alternative investment strategies and vehicle structures. Total net assets under management exceed $36 billion. The individual in this position will be responsible for operations and portfolio management support activities for the AIP private equity fund of fund vehicles and separately managed accounts.
Responsibilities in this position will result in detailed knowledge of accounting and operations for the AIP portfolios, including investments in private equity funds, real estate funds, secondary investments, and co-investments as well as derivative investments, such as options and forward currency contracts. This position will also involve developing and maintaining external relationships with AIP business stakeholders and third party service providers to ensure proper support for the investment vehicles. This position will be located in the West Conshohocken, PA office.
- Actively monitoring critical investment and investor activity for multiple portfolios and custodian banks, ensuring proper settlement of transactions; developing significant level of expertise of the holdings, terms and transactions of multiple portfolios to provide intuitive and proactive oversight of these portfolios
- Overseeing third party service providers in posting activity to the portfolios general ledger and maintaining portfolio activity in AIP's parallel portfolio accounting system, Investran
- Reconciling transactions, valuations, management fees, carried interest calculations, P&L components, and other activity between Investran and the third party service provider's records on a monthly/quarterly basis to ensure accuracy
- Verifying accuracy of investor capital account balances, NAV allocations, and capital activity on a monthly/quarterly basis
- Understanding and interpreting underlying fund investment financial statements for the purpose of preparing and/or calculating their respective fair valuation amounts, which includes documentation based on various sources of investment information and detailed reviews of financial statements and quarterly reports for regular internal fair valuation committee meeting approval
- Ability to work on complex structures that contain multiple vehicles such as leveraged corporate blockers and AIV's. Develop an understanding of these structures and ensure adequate controls are in place.
- Prepare various different carried interest calculations for complex structures and also different waterfall types such as specific investment exclusion. Ability to understand carried interest based on terms as defined in Limited Partnership Agreements.
- Generating cash projections, fund capacity calculations and investor capital calls/distribution calculations for the AIP portfolios
- Providing support for AIP product, regulatory, and other audits; assisting with review of offering documents for new AIP products and supporting other areas of product development, as needed
- Working effectively with third party service providers and internal parties to ensure a high level of service for the AIP products; raising service issues in an appropriate manner and following up issues to resolution; creating or enhancing processes to improve the efficiency of the AIP Team
- Performing quarterly compliance reporting and highlighting instances in which there may be potential noncompliance with the AIP products governing documents
- Signing-off on net asset value and performance based information for AIP on a monthly/quarterly basis; providing regular daily support and responding to numerous ad-hoc requests from investment management, investors and other internal and external stakeholders
- Performing other related functions or responsibilities as needed or assigned - Bachelor's degree, or equivalent, in Accounting, Finance, or related business field
- A minimum of five years of investment accounting experience
- Prior experience in private equity/real estate or private equity/real estate fund of funds investment accounting is required. Knowledge of hedge fund accounting and/or derivatives, or experience with Investran, is a plus.
- Strong organizational and analytical skills and the ability to effectively summarize findings, both verbally and in writing, in a clear and concise manner
- Detail-oriented and highly motivated
- Ability to work effectively with minimal supervision Primary Location:
Americas-United States of America-Pennsylvania-West Conshohocken Work Locations: Job:
Morgan Stanley Job Posting:
Sep 28, 2020