The Accounting Quality Control group resides within the Operations Department and is an integral part of the post-trade flow at Bridgewater, managing and continually improving many of the Company’s mission-critical investment processes. Accounting QC is responsible for ensuring that monthly Net Asset Values for our funds and separately mananaged accounts are properly reconciled and that reporting is reviewed and QC’d under high standards. Additionally, the team is responsible for ensuring quality output from our external partners and serves as the primary liaison between the external partners and internal Bridgewater departments. The Operations department is a true meritocracy, as is the preferred operating style at Bridgewater, where new team members are allowed and encouraged to have an impact immediately upon joining the group.
Bridgewater has grown rapidly in recent years, transforming from an investment boutique to a leading global institutional asset manager. To manage this excellently, Bridgewater has placed explicit focus on evolving our world-class investment and support infrastructure inclusive of utilizing external partners for key processes. Since Operations processes are mission-critical, the department has evolved the way in which it meets its goals and responsibilities. Bridgewater now operates a unique and innovative “tri-party model” that enables us to remain responsible for investment management and oversight of our back office, while also taking advantage of the independent processes and technology of two strategic partners who are industry leaders in this space.
We are currently looking to hire a Portfolio Accounting Associate to join the Accounting QC team. New associates have the opportunity to be an integral part of evolution and transformation efforts in the Operations department and participate in personal and professional growth with an industry leader.
The ideal candidate will have fund administration experience at an asset manager, fund administrator in accounting or operations or has experience auditing funds. He/she should have a good understanding of operational and accounting concepts and general process flow. Candidates should also have exposure to vendor and/or counterparty interaction (preferably having worked in this capacity) and should be effective at managing relationships as they will be responsible for day to day oversight of outsourcers. Candidates must be comfortable navigating change and ambiguity (i.e. engaging on department goals, and working to build out needed design reporting, and controls from scratch, assessing risk). In addition to processing the daily business, the Portfolio Accounting Associate must be highly process-improvement orientated, should demonstrate the willingness and ability to challenge the status quo, to examine day-to-day operations critically, and to identify key issues, risks, and opportunities for improvement. This individual must be detail oriented and reliable as they will be responsible for the daily review of quality control and client reporting related to fund valuation/performance and own projects and deliverables. Candidates must also have exceptional communication and interpersonal skills, as they will play a key role in ensuring excellent relationships through senior management cross departmentally and with external vendors.
Responsibilities would include:
Monitor external partners daily activities to ensure that all service level agreements, procedures, and KPI’s are met including but not limited to:
Daily review of NAV, PNL, performance, reconciliations, and client reports
Engaging in design and implementation of metrics and management tools
Ensuring that functional work (e.g. reconciliations of accounts, valuations and returns) is completed excellently, without error, and according to procedure
Ensuring that account events are accurately reflected and processed; validate the accuracy of vendor output
Partner with various departments in the build out, testing, and evolution of new designs, processes, reporting, and controls
Collaborate with management to identify opportunities for improvement and address issues, risks and inefficiencies
Organize and drive to completion anything from simple process enhancements to larger strategic initiatives
Liaise with internal departments and external service providers to ensure quality communication and accurate trade processing; facilitate resolution of complex issues
Ad hoc projects, and coverage as necessary
Bachelors degree, demonstrating a strong academic record from a competitive school
1-5 years of Accounting and/or Operations experience
Prior experience in financial service i.e. investment banking, hedge fund administration, hedge fund, investment bank setting or consulting firm (Accounting or Operations specific consulting)
Highly capable in commonly used software such as Excel, SharePoint, PowerPoint. Strong preference for candidate with more advanced capabilities such as data manipulation and coding with tools such as VBA, macros, pivot tables, SQL, “R”, etc.
Strong Communication skills: able to synthesize thoughts in an effective manner and communicate well with people at various levels of the external and internal organization
Outstanding decision-making capabilities, keen logic, and good judgment
Independent thinker, able to operate independently on short and long term goals, possesses common sense and comfort working in a high volume, fast-paced, constantly changing environment
Ability to perceive risks and make quality decisions, often with incomplete information
Analytical and creative problem solving skills demonstrated under pressure with tight deadlines
Professional team-player mentality with a genuine interest in pursuing Bridgewater's common goal of excellence
About Bridgewater Associates
Bridgewater manages global investments for a wide array of institutional clients, including foreign governments and central banks, corporate and public pension funds, university endowments and charitable foundations. Bridgewater is a highly entrepreneurial company, driven to success by: its process, its people, and its culture. At Bridgewater, we have invented, and keep inventing, superior approaches to investing and technology. We have fueled this innovation by recruiting talented, creative people from all backgrounds and promoting an invigorating and collaborative work environment. We are committed to the constant pursuit of excellence, and the belief that a meritocracy of ideas, not hierarchies, drives decision-making. Bridgewater is based in Westport, Connecticut.