Morgan Stanley Investment Management (“MSIM”), together with its investment advisory affiliates, has more than 3,200 investment professionals around the world. Morgan Stanley Investment Management strives to provide strong long-term investment performance, outstanding service and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations and individuals worldwide. MSIM is one of the three business segments of Morgan Stanley. MSIM currently has $1+ Trillion in assets under management.
The Morgan Stanley Private Credit (“MSPC”) platform (is part of MSIM) primarily invests in directly originated middle market loans and invests throughout the capital structure across a wide range of industry sectors. MSPC expanded its private credit platform with launch of business development company (“BDC”) to complement its current private credit product offering. The MSPC platform currently manages 2 fund families (including BDCs), which focus on different parts of the capital structure, different EBITDA ranges and different target asset yield. The MSPC platform seeks to create highly diversified portfolios of investments and provide investors with a stable cash yield, focused on capital preservation and benefits from interest rate protections. MSPC platform currently has over $14Bn in committed capital across various funds. The MSPC platform intends to raise additional pools of capital, in addition to the existing BDCs and private funds, these will include additional GP/LP structures, SMAs and additional BDCs.
Morgan Stanley Private Credit business is looking to hire a Vice President (externally Fund Controller) candidate to perform the following principal responsibilities to support Direct Lending Funds.
We are looking for an accounting and finance “athlete” with a solid track record of demonstrating excellence, performance, growth, and initiative.
Key Duties/Responsibilities
- Supervise and coordinate the production calendar to meet various deadlines (MS firm, SEC and investors deliverables)
- Manage and maintain internal income forecast model to estimate distributable income
- Manage third-party valuation specialists with investment level appraisals, detailed review of inputs, qualitative aspects and valuation models
- Researching accounting issues and preparing technical accounting policy documents and memos
- Manage and review administrator deliverables to ensure accurate processing of activity, timely receipt of deliverables, accuracy of NAV reporting and financial statements, and accuracy of investor notices and reporting
- Interface with auditors in all quarterly review and audit coordination and completion as well as for the internal controls assessment
- Liaison with the internal auditors and SOX service provider on internal controls testing and enhance controls, as necessary
- Coordinate with tax team and review of the quarterly and annual RIC tests
- Coordinate with external tax firms to review annual tax returns, K-1s and local filings with help of tax team and tax service providers
- Review the tie-out of quarterly/annual financial statements and assist in implementation of new accounting standards with auditors and fund administrators
- Review SEC filings, such as 8Ks, 10Qs, 10Ks, earnings releases, supplemental reporting, and provide comments
- Detail review of all investor reporting as necessary (i.e. capital account statements, capital calls and distributions notices and performance reporting)
- Assist in improving efficiency through technology and other special projects as needed
- Retrieve and compile relevant financial information for investor correspondence
- Review and provide input to all Fund-related regulatory filings, participate in efforts to respond to regulatory requests and inquiries related to the BDCs/Funds
- Coordinate with portfolio management team on monthly portfolio stats and quarterly portfolio review process
- Coordinate with shadow books service providers and review the monthly NAV reconciliations
- Detail review of the monthly/quarterly credit facilities waterfall payment file
- Detail review of the credit facility reporting and compliance with credit facility agreements
- Responsible for overseeing the work assignments of analysts/associates, communicating performance expectations and providing performance feedback
Target range of 10-12 years of experience in financial accounting, or finance function for an alternative investment manager with exposure to private credit, BDCs, or private equity funds
Ability to implement accounting and reporting for various investment structures or funds
Desire to understand transaction process flows and requirements and develop processes to solve complexities as they arise
Experience with external audit processes and procedures
Knowledge of accounting principles including US GAAP and Investment Company Accounting
Bachelor's degree with a major in Accounting or Finance
CPA a plus
Big 4 accounting firm experience preferred
Excellent written /verbal communication skills
Ability to work in a fast paced, deadline driven environment
Good quantitative/analytical and problem-solving skills
Morgan Stanley's goal is to build and maintain a workforce that is diverse in experience and background but uniform in reflecting our standards of integrity and excellence. Consequently, our recruiting efforts reflect our desire to attract and retain the best and brightest from all talent pools. We want to be the first choice for prospective employees.
It is the policy of the Firm to ensure equal employment opportunity without discrimination or harassment on the basis of race, color, religion, creed, age, sex, sex stereotype, gender, gender identity or expression, transgender, sexual orientation, national origin, citizenship, disability, marital and civil partnership/union status, pregnancy, veteran or military service status, genetic information, or any other characteristic protected by law.
Morgan Stanley is an equal opportunity employer committed to diversifying its workforce (M/F/Disability/Vet).
Wage Transparency Statement
Expected base pay rates for the role will be between $150,000.00 and $210,000.00 per year at the commencement of employment. However, base pay if hired will be determined on an individualized basis and is only part of the total compensation package, which, depending on the position, may also include commission earnings, incentive compensation, discretionary bonuses, other short and long-term incentive packages, and other Morgan Stanley sponsored benefit programs.