Vice President, Private Markets Tax

About this role

Introduction

A role is being opened for a permanent hire in New York to join the global Private Markets Tax Group. This team currently comprises 30+ staff in total (who are located in the US, UK and Hong Kong) and is headed by two Managing Directors based in New York.

About BlackRock

BlackRock is the world’s largest asset management company, the BlackRock group is independently listed (ticker: BLK) and headquartered in New York. The Private Markets team is responsible for investment management, strategic planning and oversight across BlackRock’s $340+ billion alternatives investment platform.

Role description

This is an in-house tax oversight, coordination, tax accounting, and advisory role supporting the Private Markets Tax platform. This hire will help oversee tax compliance and advisory for BlackRock’s infrastructure platform & carried interest partnerships. The role involves working laterally with the global Private Markets Tax team (based in the US, EMEA, and Asia Pac).

Key responsibilities

• Lead and oversee the US tax compliance for certain infrastructure funds which is prepared by external providers.
• Assist in overseeing the global infrastructure tax compliance alongside the EMEA & APAC Private Markets tax teams.
• Provide tax advisory and compliance input during deal tax due diligence and tax structuring on selected investments to be held by the funds.
• Support BlackRock’s client relations and sales and marketing teams with investor communications (including existing and potential investors), where necessary.
• Develop and monitor robust tax-related processes and procedures necessary to support each fund as the platform expands.
• Assist with the coordination and review of US tax compliance work relating to carry, GP issues and employee investments, which is prepared by external providers.
• Answer investor and GP Carry participant queries related to the taxation of covered products.
• Calculate and/or review tax distributions, tax clawbacks, tax waterfalls, and other tax amounts relevant to GP and carry across all Private Markets tax funds.
• Analyze carry arrangements in Private Markets funds across all asset classes.
• Work within the Private Markets Tax Team to increase efficiencies and establish best practices and ensure that tax policies are adhered to and applied consistently across various products.
• Assist with significant Private Markets Tax projects, guidelines and policies across various business groups.
• Monitor key tax legislative developments that are of relevance to Private Markets and the supported businesses, and keep stakeholders updated on these developments.

Skills and Experience – Required

• Bachelor’s Degree in Accounting or related field (CPA preferred).
• 5+ years of tax accounting experience in the investment management industry with emphasis on alternative products, with 7+ years of experience preferred.
• Previous experience with an asset manager or Big 4 accounting firm.
• Proficient in the taxation of investment partnerships and carried interest, including calculation of tax waterfalls and tax allocations.
• Proficient in taxation of blocker corporations.
• In depth knowledge of US tax compliance.
• Prior infrastructure tax experience is not required, but is a plus.

Aptitudes

• A highly organized individual who is able to communicate complex tax issues clearly and concisely, in a manner targeted at a wide range of different audiences.
• Has the interpersonal skills to work effectively within a large in-house tax team and with cross-border teams and multidisciplinary business and project teams.

For New York City only: The salary range for this position is $137,500 - $194,000. Additionally, employees are eligible for an annual discretionary bonus, and benefits including healthcare, leave benefits, and retirement benefits.

Our benefits

To help you stay energized, engaged and inspired, we offer a wide range of benefits including a strong retirement plan, tuition reimbursement, comprehensive healthcare, support for working parents and Flexible Time Off (FTO) so you can relax, recharge and be there for the people you care about.

Our hybrid work model

BlackRock’s hybrid work model is designed to enable a culture of collaboration and apprenticeship that enriches the experience of our employees, while supporting flexibility for all.

About BlackRock

At BlackRock, we are all connected by one mission: to help more and more people experience financial well-being. Our clients, and the people they serve, are saving for retirement, paying for their children’s educations, buying homes and starting businesses.

BlackRock is proud to be an Equal Opportunity and Affirmative Action Employer.