MIO Partners, Inc. (MIO) provides proprietary investment products to McKinsey’s retirement plan and partners and offers independent, high-quality financial advice to McKinsey’s partners. We manage a wide array of investment vehicles with significant expertise and a long and successful track record in alternative strategies, including hedge funds and private equity. We have a multibillion-dollar portfolio of assets under management, and we manage assets for and advise only McKinsey-related clients; we do not accept outside or third-party investments.
MIO is a values-based organization that is strongly aligned with our investors’ interests. MIO measures success as performance relative to a market-based benchmark.
MIO, a 250+ person registered investment adviser, provides ample opportunities for somebody with an entrepreneurial drive to shine. We strive to meet the highest professional standards and build an organization that attracts, develops, and retains exceptional people. MIO is a wholly owned subsidiary of McKinsey, but our activities are kept entirely separate from those of the consulting Firm.
Position
MIO's Finance team is seeking a Senior Fund Accountant to join the group responsible for the accounting and administration of the various MIO Fund-of-Fund/Limited-Partner (FoF/LP) vehicles. This role will also provide opportunities to participate in special projects (new products, new system implementations/existing system upgrades, and various process improvements) and to gain exposure to the responsibilities of other groups within and outside of Finance.
Primary responsibilities
- Accounting and administration of FoF/LP vehicles
- Booking and reconciliation of transactions across internal systems
- Coordinating with the MIO Client Service team, third-party custodians, and fund managers to resolve investor account, cash, position, and market value breaks
- Pricing third-party underlying fund managers with month-end estimates and/or statements
- Reconciling month-end NAV reporting from fund administrators and resolving discrepancies
- Preparation and review of year-end financial statements and tax work papers
- Coordinating with auditors and fund administrator on year-end audit requests
- Developing, improving, and implementing internal controls, policies, and procedures where necessary
Desired background
- Bachelor’s degree in accounting or finance
- 5+ years of experience in hedge fund accounting, reporting, and analysis, CPA a plus
- Skilled in the processing and review of general ledger transactions related to investment and investor activity
- Experience with various Management and Incentive Fee terms and calculations
- Extensive experience working through an audit process and preparing audited financial statements
- Knowledge of stocks, bonds, foreign currencies, exchange-traded and OTC derivatives, and private placements
The successful candidate will possess:
- A deep understanding of investment accounting principles and processes
- The ability to work independently and in a team format, including collaboration with other functional areas of the organization
- Attention to detail and time management skills, with adherence to strict deadlines, while ensuring a high-quality work output
- Strong written and interpersonal communication skills, facilitating critical relationships with internal and external stakeholders of various seniority levels
- Bring an entrepreneurial mindset with a focus on ownership, initiative, and continuous improvement
- Strong technical skills, primarily within Excel and various accounting and reporting systems
- Experience with Advent Geneva, Arcesium platform, and Duco software is a plus, but not required
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Applicants must be authorized to work in the U.S. without the need for employer-sponsored work authorization, now or in the future.
MIO Partners, Inc. (MIO) is an equal opportunity employer. MIO will consider all applicants regardless of race, color, religion, sex, sexual orientation, gender identity, national origin, veteran status, or disability status.
MIO has adopted a flexible, hybrid model that supports a blend of in-office and remote work. Our office is in New York City.
Certain US states require MIO Partners, Inc. to include a reasonable estimate of the salary range for this role. Actual salaries may vary and may be above or below the range based on various factors, including, but not limited to an individual’s assigned office location, experience, and expertise. Certain roles are also eligible for bonuses, subject to MIO’s discretion and based on factors such as individual and/or organizational performance. Additionally, MIO offers a comprehensive benefits package, including medical, dental and vision coverage, telemedicine services, life, accident and disability insurance, parental leave and family planning benefits, caregiving resources, a generous retirement program, financial guidance, and paid time off.
MIO Partners, Inc. (MIO) is an equal opportunity employer. MIO will consider all applicants regardless of race, color, religion, sex, sexual orientation, gender identity, national origin, veteran status, or disability status.
We are committed to protecting your privacy. Please review our Applicant Privacy Policy for a detailed explanation of how we collect, use, and protect your personal information.
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What We Do
MIO (and related entities) is an indirect, wholly-owned subsidiary of McKinsey & Company and was formed in the early 1980s to provide asset management services for McKinsey’s retirement plan. Over time, we have expanded to support after-tax investments by McKinsey’s current and former partners, primarily by making available funds already offered in the retirement plan. Our aim was to provide partners with convenient, time-saving investment options, including access to alternative investments. Today, we are a company of approximately 250 people managing retirement and after-tax investments for roughly 30,000 current and former McKinsey employees. A key element of our operating model is that we operate at cost, generating no profit for either MIO or McKinsey. Our incentives are aligned with those of our investors due to significant management participation in the funds.
