Private Equity/Real Estate Fund of Funds - Portfolio Services Specialist, USA-PA-Conshohocken
Private Equity/Real Estate Fund of Funds - Portfolio Services Specialist
Company:
Morgan Stanley
Location:
USA-PA-Conshohocken
Compensation:
not disclosed
Position Type:
Permanent
Employment type:
Full time
Updated:
22 Oct 2009
eFC Ref no:
574616
See job description below
Position Category: Operations
Position Title: Private Equity/Real Estate Fund of Funds - Portfolio Services Specialist
Job Level: Associate/Sr Associate
Location: USA - PA - West Conshohocken
Education Required: Bachelors Degree
Position Description: Private Equity/Real Estate Fund of Funds - Portfolio Services Specialist
This position will work together with the Alternative Investment Partners (“AIP”) Team. The AIP Team is responsible for the investment management and support of Morgan Stanley's alternative investments fund-of-funds strategies. The Team supports approximately 50+ portfolios that utilize a variety of alternative investment strategies and vehicle structures. Total net assets under management exceed $16 billion. The individual in this position will be responsible for accounting, portfolio management support activities, compliance and performance reporting for the AIP fund of fund portfolios and other Morgan Stanley Investment Management products.
This position will deal primarily with private equity and real estate fund of funds vehicles and separately manage accounts. Responsibilities in this position will include the need to secure intimate knowledge of the AIP portfolios, including investments in private equity funds, real estate funds, secondaries, and co-investments as well as derivative investments, such as, total return swaps, options, and forward currency contracts. The position will have heavy involvement and interaction with the private equity investment and client service teams, including the most senior members of those teams. This position will also involve developing and maintaining external relationships with third party service providers to ensure the accuracy of Fund level reporting and the net assets values (“NAV”) within the investment vehicles. This position will be located in the West Conshohocken, PA office.
Responsibilities
? Posting investment transactions such as capital calls, distributions and accounting transactions in AIP's parallel accounting system, Investran. For investment transactions, analyzing underlying fund notices for transaction components and booking transactions accordingly and ensuring consistent treatment across portfolios. Communicating the cash transactions to the third party service providers including the custodians.
? Overseeing and interacting with the third party service providers in posting portfolio activity to the Funds' general ledger and maintaining portfolio activity in Investran. Reconciling monthly/quarterly transactions, valuations, management and carried interest waterfall 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; preparing a closing package monthly/quarterly to support the calculation of the Funds' NAV.
? Understanding and interpreting underlying Fund investment financial statements for the purpose of preparing and/or calculating their respective fair valuation amounts. This includes documentation based on various sources of investment information and detailed reviews of financial statements and quarterly reports for regular internal fair value committee meeting and approval.
? Performing daily cash reconciliations with the custodian bank and resolving outstanding items on a timely basis. During investor closes, investor capital calls and investor distributions, this will include daily review of all cash activity to ensure it is accurately posted to the custodian and accountant's systems.
? Verifying accuracy of Fund level and capital account balance components on a quarterly basis.
? Participating in the calculation of investor capital calls and distributions. Determining and verifying accuracy of service provider allocations, distribution components, unfunded commitments, and investor communication.
? Ensuring the accuracy of quarterly, semiannual, and annual financial statements and working closely with AIP client service on review of the investor quarterly commentary.
? Using the latest systems tools and software/hardware to create new processes and procedures to enhance the efficiency of the AIP team.
? Working effectively with outsourced third party administrators 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.
? Supporting the AIP investment team by responding with data needed for request for proposals (RFPs), and creating and/or updating track record and composite data based on data inputted and verified in the internal accounting system, Investran.
? Performing related duties as assigned.
Skills Required: ? Bachelor's degree, or equivalent, in Accounting, Finance, or related business field.
? A minimum of 3 years of investment accounting experience, with at least 2 years in private equity investment accounting. Additional private equity experience and knowledge of fund of hedge funds investment accounting is a plus.
? Experience using spreadsheet and database personal computer applications is preferred. Previous experience with a report writer is desired. Previous experience with Investran is a plus.
? Strong organizational, communication and analytical skills and the ability to effectively summarize findings, both verbally and in writing, in a clear and concise manner.
