All in all, middle office roles are not responsible for the allure of hedge fund employment, but especially in current market conditions they may provide an excellent way in the door. As the industry consolidates — large funds becoming larger — internal operations become correspondingly more complex and involve more personnel. Hedge funds are hiring, and hiring for Operations is a crucial part of that. We’ve also seen hedge fund middle office roles that allow for substantial growth and transitioning to other areas in the firm. Base salary on offer for this “Middle Office Analyst” position in New York City starts at $100k:
$1billion+ hedge fund has been operational for over 15 years and is highly ranked. The firm invests in multiple asset classes including private equity, derivatives and fixed income. The analyst will report directly to senior management. The main responsibility will be to work with Advent Geneva to update, review and create standard reports on a monthly basis. Required: an understanding of Geneva, exposure to operational issues such as CDS, CLO & bank debt, and very strong desktop skills. Must have either hedge fund experience, or strong accounting experience from either the sell-side or a big four accounting firm.
Another role with the same title, location and base salary (and also exclusive to Hedge Fund Search Digest) lists these specific responsibilities:
• Prepare daily flash P&L
• Review all MTM changes and pricing variances
• Understand hedging issues on P&L
• Reconcile daily P&L with fund administration
• Understand the P&L effects of all open items with the brokers or clients
• Reconcile P&L effects of Corporate Actions reporting for all funds
• Preparation of P&L attribution for internal and external clients
• Assist in checking testing results for all in-house system enhancements
Required qualifications for this job: 5+ years in financial services, P&L reporting experience, product knowledge (domestic & global markets, fixed income / derivatives), very strong accounting background.
Common responsibilities and qualifications for many other typical hedge fund roles can be found in previous posts to this column, and we provide comprehensive hedge fund salary data across functional roles in the 2007 Hedge Fund Compensation Report. Also, the 2008 Hedge Fund Compensation Survey is now underway. All qualified participants will receive free access to the compiled results, and the survey only takes a few minutes. Gain access to this valuable information by completing the Hedge Fund Compensation Survey now!