2023 Fund Services - Accounting Full Time Associate Program (Bangalore)
About Morgan Stanley
Since our founding in 1935, Morgan Stanley has consistently delivered first-class business in a first-class way. 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 42 countries. Everything we do at Morgan Stanley is guided by our five core values: Do the Right Thing, Put Clients First, Lead with Exceptional Ideas, Commit to Diversity and Inclusion, and Give Back.
What We Offer
Morgan Stanley offers a dynamic and multifaceted environment which require individuals to work closely with colleagues across various functions and the Business Unit in onshore regions. You will get to work with extremely talented peers in a meritocratic team-oriented culture.
About Morgan Stanley Fund Services (MSFS) Team
Morgan Stanley Fund Services (MSFS) provides fund administration services to the world’s leading hedge funds. MSFS is an independent legal and business venture within Morgan Stanley with over 1000 professionals across six global locations - New York, Dublin, London, Glasgow, Mumbai, Bengaluru and Hong Kong.
Established in 2005 and headquartered in New York, MSFS provides its products and services to a large and diversified group of clients, including hedge funds and asset management firms through its regional offices, subsidiaries and affiliates. In terms of headcount, 60% of global MSFS head count consists of India employees.
MSFS India Growth Story
· We started in Mumbai in 2005 and extended our presence to Bengaluru in June 2014 which was strategically selected as a second city for MSFS (along with IT) in India.
· Bengaluru team is continuously growing. In six years, we have grown to a headcount of 150 employees and over the next two-three years we expect the growth to continue.
What we do at MSFS
· Provide administrator services to ~200 Advisors with Total Assets under Management
Valued at approximately $ 450 billion.
· Daily portfolio indicative net asset value (“NAV”) production & computing and releasing Month end NAV’s.
· Processing and accounting of fund security and financial transactions.
· Daily reconciliation of fund cash and investments with banks/custodians/counterparties/ prime brokers.
· Investor/shareholder accounting and reporting.
Accounting Associate/Senior Associate
As an Associate/Sr. Associate, you will work to validate and finalize daily and month-end NAV of the hedge fund clients. You will also act on various requests made by the clients to update their portfolios on Morgan Stanley Portfolio Accounting (MSPA), an accounting / reporting system of MSFS.
Roles and Responsibilities
· Provide accounting solutions to hedge funds for independent verification of portfolio pricing, investor transparency and regulatory compliance.
· Calculation of daily NAV.
· Review books of accounts (MSPA) to custodian reconciliations. Identify and determine cause of breaks. If break is due to an error or missing transaction in MSPA, then make necessary adjustments.
· Perform middle office functions including P&L analysis, daily cash projections, calculations of FX transfers required for funding, checking client’s contributions & redemptions etc.
· Review general ledger exceptions. Identify cause and make necessary adjustments.
· Verify performance by reviewing large P&L swings and analyzing income/expense journals for validity. Validate and process corporate action data.
· Adjust activity as necessary for performance (Morgan Stanley Portfolio Management) processing and reporting.
· Responsible for accruing daily or monthly non-security related accruals including financing accruals.
· Process non-automated transactions including Over the Counter (OTC) derivatives and their related cash movements.
· Perform daily and monthly securities pricing analysis.
· Finalizing the month end NAV of the client and providing Investor Level Allocations at month-end which also involves calculation of performance and management fees.
· Providing audit support and assistance to funds in the preparation on financial statements.
· Assistance with compliance functions.
What We Look For
· Professional degree with specialization in accounting
· Interest in the global financial markets
· Strong attention to detail
· Accuracy and efficiency
· Ability to multi-task
· Strong communication and interpersonal skills
· Ability to work effectively in a team
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.
This Program is closed to applications.