Investment Accountant - Alternative Investments
Duration 12 months +
Location West Conshohocken, PA 19341 Onsite
Max Pay Rate - $40.75/hr W2 (No Benefits)
Temp will start on site and will be recommended to come in 4 days a week for in person training with the teammates, before being able to go to 3x a week on-site attendance. This position will work specifically with the Alternative Investment Services (AIS) Team in support of Investment Teams within Brokerage Investment Management (MSIM). The AIS Team currently supports 300+ investment vehicles that utilize a variety of alternative investment strategies and vehicle structures with total net assets under management around $46 billion. The individual in this position will be responsible primarily for operations and portfolio management support activities for the Hedge Fund Solutions (HFS) funds and separately managed accounts. Responsibilities in this position will result in detailed knowledge of accounting and operations for the HFS portfolios, including investments in hedge funds, private equity funds and co-investments, more liquid daily-traded fund investments and securities, and derivative investments, such as total return swaps and forward currency contracts. This position will also result in detailed knowledge of accounting for hybrid fund structures that combine hedge fund investing with private equity investor capital activity and fee structures. This position will also involve developing and maintaining external relationships with 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.
Responsibilities:
Actively monitoring critical investment and investor activity for multiple portfolios and custodian banks, ensuring proper settlement of transactions, including cash distributions and receipts.
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 AIS s parallel portfolio accounting system, Investran.
Reconciling transactions, valuations, management fees, performance fee/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. Preparing or reviewing monthly performance reports for investment management and clients using valuations from underlying investments, cash balances, and derivatives valuations.
Reviewing daily cash reconciliations performed with multiple custodian banks and ensuring outstanding items are resolved on a timely basis.
Tracking email correspondence within the AIS Team s group mailbox and escalating time sensitive correspondence to the appropriate internal parties. Providing regular daily support and responding to numerous ad hoc requests from investment management, investors, and other internal and external stakeholders.
Providing support for the AIS Team s product, regulatory, and other audits; assisting with preparation of materials for periodic board of director meetings; assisting with review of offering documents for new 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 AIS Team s products; raising service issues in an appropriate manner and following up issues to resolution; creating or enhancing processes to improve the efficiency of the AIS Team.
Performing other related functions or responsibilities as needed or assigned.
Qualifications
Bachelors degree, or equivalent, in Accounting, Finance, or related business field is preferred
A minimum of three to five years of investment accounting experience
Prior experience in alternative investment operations is preferred but not required; knowledge of hedge fund or private equity fund accounting, 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
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