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

Morgan Stanley•Purchase, NY

3d•$95,000 - $190,000•Hybrid

About The Position

Morgan Stanley Fund Services (MSFS) is a leading provider of third-party hedge fund services. The Valuation & Quality Assurance Review Team plays a crucial role in fund accounting oversight within the global MSFS model. This role involves assessing the reasonableness of client pricing approaches through benchmarking, with a primary focus on valuation reviews. The successful candidate will interact with hedge funds and internal teams to address queries and price challenges, contributing to the enhancement of Net Asset Value (NAV) quality. This position will also lead valuation and accounting-related projects, including the onboarding of new clients, and will be involved in both routine monthly workflows and ad hoc initiatives.

Requirements

Understanding of fixed income, credit, interest rate, and derivatives products.
5 years of post-qualification experience (PQE), preferably including public accounting experience supporting investment-related companies.
Extensive experience and a thorough understanding of industry and accounting practices.
Strong technical skills.
US GAAP knowledge required, including a strong understanding of hedge fund structures.
Proven ability to advise/influence group managers, employees, and senior management.
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.

Nice To Haves

Understanding of middleware and valuation systems such as MarkIt, SuperD, Bloomberg etc. is 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.
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.
Previous Quality Assurance experience in a related field would be an advantage.
Fully completed Accounting qualification/certification e.g. CPA, CA, ACCA, CIMA or a CFA accreditation is a distinct advantage.

Responsibilities

Ensuring the correct capture of terms for exotic trades and utilizing vendor systems for end-of-day valuation for hedge fund clients.
Improving and refining processes by understanding requirements, prototyping, and collaborating with developers to enhance in-house systems for systematic term capture and pricing.
Reviewing terms against client communications, trade confirmations, and middleware systems.
Obtaining valuations for client positions after trading hours and ensuring accurate capture within client portfolios.
Liaising with hedge funds and internal teams to resolve queries and price challenges.
Assisting in the performance of Final Accounting Reviews of NAVs from various MSFS locations within established timelines.
Developing effective analytical tools and review procedures to improve NAV deliveries and conducting enhanced reviews with innovative solutions.
Spearheading Quality Assurance initiatives and projects within the Accounting and Valuation domains to ensure consistent, high-quality work products.
Providing exception reporting to senior management and functional groups regarding adherence to Valuation and Fund Accounting policies and procedures.
Designing, implementing, and enhancing policies, procedures, and controls based on observations.
Building and managing relationships with senior management and other business owners to champion deliverables.
Integrating with global colleagues to ensure standard operating practices.
Maintaining up-to-date knowledge of GAAP and industry updates and ensuring their relevant application.
Undertaking any other reasonably required responsibilities, tasks, or activities.