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Job of the Day: Morgan Stanley Needs a Merchant Banking Accounting VP

Posted on by GoingConcern

Morgan Stanley is looking for someone to join their Merchant Banking Accounting and Control Group to handle day-to-day operations and managing the processing and the financial reporting of several products including real estate, private equity and infrastructure.

The position requires three to five years experience. Get more details on this position in New York after the jump.


Company: Morgan Stanley

Title: Merchant Banking Accounting VP

Location: New York, NY

Description: This position within the Merchant Banking Accounting and Control Group includes responsibilities of handling the day-to-day operations and managing the process and deliverables involved in consolidated accounting and reporting of the various Merchant Banking products (Real Estate, Private Equity, Infrastructure, and other private placements) as related to Morgan Stanley’s interest, both as a General Partner and Limited Partner, in each of the underlying funds.

Responsibilities: Ongoing support to and liaison with the Business Unit/Senior Management/Corporate / External Reporting/Segment Group/Fund Controllers/Various Other Internal Divisions: Responsible for monthly close process (Firm’s books); Involvement in new product developments and meetings; Involvement in accounting policy development and implementation; Other areas of exposure include Maintaining the general ledger and Marking to market the Morgan Stanley LP and GP interests in various Merchant Banking funds, Various Disclosures Requirements (FIN 45, FN 46R, FAS 157, FAS 157 g, FAS 159, FAS 160, FAS 161, etc.), SOX /404 documentation, Balance Sheet Review & Reporting, Legal Entity Reporting, Process Control, Transfer Pricing, PBT Analysis, Expense Analysis & Billing, Due Diligence, Senior Management Reporting, Cost of Capital, and others

Qualifications: 3-5 years experience; Bachelors Degree in Accounting or Finance; Strong Accounting Skills

See the entire description over at the GC Career Center and visit the main page for all your job search needs.

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Engineer Curious to Know if an Advisory Role with PwC or Deloitte Would Be a Good Opportunity

Ed. note: Looking for career guidance from a couple of Big 4 expats or our resident permanently ink-stained wench? Email us at [email protected].

Hello,

I have become an avid reader of your website and need your help regarding an opportunity. I have an engineering background and 5 years of experience in the heavy construction industry specifically oil & gas. In hopes to moving on to something different and possibly working as a consultant I have got a chance to work at PWC and Deloitte in a senior associate advisory role. I do know that these companies are primarily in audit but the sales pitch they gave me was that they were trying to build the Capital Projects Advisory division. Do you all think it is good opportunity?

Sincerely,
Chugga Chugga Choo Choo

Dear Chugs,

As a self-proclaimed avid reader, I hope you caught the post I did in June about the engineering consultant in a similar situation as yours. Check it out for feedback focused on what to do once you start at your new gig in a Big 4’s advisory practice.

That said, you’re asking if the chance to work at the #1 or #2 public accounting firms in the world are “good” opportunities. I follow up your question with one of my own:

If working for #1 or #2 is not a good opportunity, what more are you looking for?

So yes, they are great opportunities to jump start your career into the “consulting” slash advisory biz. Sure, they crank out audits and tax returns, but those are very different revenue generating streams than their advisory practices. To put things in more engineering terms – wary of working in the advisory group of PwC or DT because they perform assurance services is like turning down an aerospace engineering job at GE because they also make light bulbs.

Assuming the offer details are similar, look at each firm’s Capital Projects practices. Which group is more established? Have they made other external hires recently? What is each group’s current market share/focus, and what are long term plans?

Good luck with whichever role you pursue, and welcome to the Big 4 community.

Cheers,
DWB

Does Anyone Want to Work for the Federal Reserve?

With Caleb way way out of town, I’m finally able to talk about the Fed. In this case, I figured I’d make it useful for those of you looking for non Big 4 careers but unsure where to start.

The Fed has money. Your salary, were you to use your accounting degree to work there, would come out of the money they allegedly return to Treasury each year as “profit,” so they can pretty much make up any number. A luxury Uncle Ernie just doesn’t have.

This is just my personal experience (having dated an accountant who worked at the SF Fed in a former life), to qualify you probably have to have a sick attention to detail (I won’t go so far as to use the word anal but you get it), enjoy a rigid schedule (he would get up at 3 in the morning every work day) and possibly play too much WoW (self-explanatory). I know several of you who read this site that completely fit that bill, so read on and see if you want to get on this sweet money gravy train:

As the central bank of the United States, the Federal Reserve’s mission is to provide the nation with a safer, more flexible, and more stable monetary and financial system. For us to succeed in meeting this public mandate, we depend on the expertise, judgment, integrity, and dedication of employees with various skills, backgrounds, and training. As a Federal Reserve staff member, you will play a critical role in accomplishing this mission.

You can finally use your Masters for something useful in exciting areas like Financial Analyst/Bank Examiner, Bank Supervision and Regulation, or Consumer and Community Affairs.

Individuals interested in a career as an analyst should have a degree in business administration with concentration in accounting or finance, and experience in financial analysis as it relates to banking. Knowledge of the laws and regulations governing banks and bank holding companies is preferred. A master’s degree is required for most higher-level positions.

That’s at the Board, where they still have to pretend to be government. But the regional banks need number-crunchers too, so if you are in Atlanta, Boston, Chicago, Cleveland, Dallas, Kansas City, Minneapolis, New York, Philadelphia, Richmond, San Francisco or St. Louis, check with your local regional Fed bank to see what’s available. There are also smaller branches in places like Salt Lake City, Portland, Baltimore and Houston, they may need some warm bodies to count the beans or supervise said counting of beans.

The New York Fed in particular has some exciting openings in Financial Institution Supervision and Audit worth checking out if you’re close or considering a move to that market.

Here’s a decent (if slightly outdated) report on Fed bank pay to give you a general idea what they’re working with. According to Glassdoor, a Senior Accountant at the Boston Fed makes around $70k, although from what I’ve read from others, starting pay at the Fed is significantly lower than Big 4 starting salaries in comparable markets.

Any takers?