MIT Investment Management Company
Associate Director, Financial, Tax, & Regulatory Reporting
MIT Investment Management Company, Oklahoma City, Oklahoma, United States,
Associate Director, Financial, Tax, & Regulatory Reporting
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» Associate Director, Financial, Tax, & Regulatory ReportingMIT Investment Management Company (MITIMCo) is a department within MIT that currently manages over $30 billion in financial assets for the Institute’s endowment, retirement plan, and other capital pools. Our mission is to deliver outstanding long-term investment returns for MIT and our work directly furthers the transformative research and educational efforts of this world class institution.MITIMCo is seeking an Associate Director of Financial, Tax, & Regulatory Reporting (FTRR) within its Operations team. The role is responsible for the financial reporting of investments in MIT’s annual Treasurer’s report and its ERISA Plans, and for the issuance of financial statements for MIT’s special purpose investing entities. In addition, the Associate Director will be responsible for working with MIT’s Vice President for Finance (VPF) office to assist in the preparation of tax returns for MIT’s investment entities. The Associate Director will manage MIT’s regulatory risk and filings for various domestic and international jurisdictions. The incumbent will be a key contributor in resolving tax and other investment structuring concerns, working closely with MITIMCo’s Global Investments, Legal, and Investment Accounting & Operations (IAO) TeamsTo effectively serve in this role, the ideal candidate will be familiar with derivative strategies to capture market exposure and related tax issues, GAAP, and other fair value financial reporting principles, in order to assist with the preparation of various tax returns including 1065s, 8802s, 1042s, and the tax treatment for various foreign investment corporations, including PFICs and Foreign Controlled Corporations. The ideal candidate will have experience in the oversight and management of external tax preparers and consultants. The individual will have strong communication skills and can effectively describe to individuals with differing expertise the regulatory, financial, and tax impacts certain structuring issues can produce. The incumbent will have experience in working with cross-departmental teams to devise new solutions and will be expected to leverage their investment knowledge to ensure that new investments are optimally structured and to successfully navigate US and non-US tax jurisdictions.Principal Duties and Responsibilities:
• Act as internal subject matter expert on asset management tax and accounting requirements and approaches.• Work with MIT’s tax team to provide timely, accurate, and complete information for preparation of tax returns, and proactively identifying new/extraordinary investment activity and potential tax issues throughout the year.• Review tax returns prepared by outside consultants to ensure accuracy related to investment activities.• Have a thorough understanding of business processes and their risk implications; be able to analyze complex situations, reach appropriate conclusions, and make value-added and practical recommendations.• Maintain analysis to provide ongoing estimates of investment income excise taxes.• Liaise with MIT’s central Financial Accounting and Reporting team on matters related to investment accounting with respect to MIT’s general ledger and preparation of MIT’s and its Retirement Plans’ annual reports.• Responsible for regulatory and rating agency reporting in consultation with the Legal Team regarding US and non-US requirements, as appropriate.• Responsible for audits for MIT investments and MITIMCo managed investment affiliates (currently 12 entities).• Build and maintain relationships with existing external investment managers, communicating proactively on tax issues when they arise.• Serve as a member of MITIMCo’s Operations Strategy Committee, helping to structure and enable new investments.• Engage with external counsel on regulatory issues when appropriate.Supervision Received:
• Will report to the Chief Financial Officer.• Ability to work independently is required.Supervision Exercised:
• Will directly supervise one employee.Qualifications & Skills:
• Bachelor’s Degree in Accounting, Finance, or related field; CPA strongly preferred.• 10 years’ experience in asset management financial and tax accounting, both liquid and illiquid strategies.• Expertise on GAAP accounting requirements and tax rules as they apply to investment companies and private fund structures.• Understanding of real estate operating and development activities a plus.• Advanced problem-solving and creative critical thinking skills to resolve ambiguous, complex and multi-variable problems.• Advanced negotiation, managerial, and leadership skills.• Ability to manage contradictory ideas and to arbitrate opposing views for the team to seek a “third” alternative that integrates the best of all ideas.• Ability to organize and manage multiple projects and prioritize competing needs.• Excellent interpersonal, organizational, and communication skills.• Ability to work from our Cambridge, MA, offices at least two days per week.*Please note that MIT does not provide visa sponsorship for technical, administrative, or library full-time or part-time regular positions. Additionally, MIT does not provide visa sponsorship to recent graduates and practicing professionals for internship training, practical experience, or other non-teaching, non-research affiliations.
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» Associate Director, Financial, Tax, & Regulatory ReportingMIT Investment Management Company (MITIMCo) is a department within MIT that currently manages over $30 billion in financial assets for the Institute’s endowment, retirement plan, and other capital pools. Our mission is to deliver outstanding long-term investment returns for MIT and our work directly furthers the transformative research and educational efforts of this world class institution.MITIMCo is seeking an Associate Director of Financial, Tax, & Regulatory Reporting (FTRR) within its Operations team. The role is responsible for the financial reporting of investments in MIT’s annual Treasurer’s report and its ERISA Plans, and for the issuance of financial statements for MIT’s special purpose investing entities. In addition, the Associate Director will be responsible for working with MIT’s Vice President for Finance (VPF) office to assist in the preparation of tax returns for MIT’s investment entities. The Associate Director will manage MIT’s regulatory risk and filings for various domestic and international jurisdictions. The incumbent will be a key contributor in resolving tax and other investment structuring concerns, working closely with MITIMCo’s Global Investments, Legal, and Investment Accounting & Operations (IAO) TeamsTo effectively serve in this role, the ideal candidate will be familiar with derivative strategies to capture market exposure and related tax issues, GAAP, and other fair value financial reporting principles, in order to assist with the preparation of various tax returns including 1065s, 8802s, 1042s, and the tax treatment for various foreign investment corporations, including PFICs and Foreign Controlled Corporations. The ideal candidate will have experience in the oversight and management of external tax preparers and consultants. The individual will have strong communication skills and can effectively describe to individuals with differing expertise the regulatory, financial, and tax impacts certain structuring issues can produce. The incumbent will have experience in working with cross-departmental teams to devise new solutions and will be expected to leverage their investment knowledge to ensure that new investments are optimally structured and to successfully navigate US and non-US tax jurisdictions.Principal Duties and Responsibilities:
• Act as internal subject matter expert on asset management tax and accounting requirements and approaches.• Work with MIT’s tax team to provide timely, accurate, and complete information for preparation of tax returns, and proactively identifying new/extraordinary investment activity and potential tax issues throughout the year.• Review tax returns prepared by outside consultants to ensure accuracy related to investment activities.• Have a thorough understanding of business processes and their risk implications; be able to analyze complex situations, reach appropriate conclusions, and make value-added and practical recommendations.• Maintain analysis to provide ongoing estimates of investment income excise taxes.• Liaise with MIT’s central Financial Accounting and Reporting team on matters related to investment accounting with respect to MIT’s general ledger and preparation of MIT’s and its Retirement Plans’ annual reports.• Responsible for regulatory and rating agency reporting in consultation with the Legal Team regarding US and non-US requirements, as appropriate.• Responsible for audits for MIT investments and MITIMCo managed investment affiliates (currently 12 entities).• Build and maintain relationships with existing external investment managers, communicating proactively on tax issues when they arise.• Serve as a member of MITIMCo’s Operations Strategy Committee, helping to structure and enable new investments.• Engage with external counsel on regulatory issues when appropriate.Supervision Received:
• Will report to the Chief Financial Officer.• Ability to work independently is required.Supervision Exercised:
• Will directly supervise one employee.Qualifications & Skills:
• Bachelor’s Degree in Accounting, Finance, or related field; CPA strongly preferred.• 10 years’ experience in asset management financial and tax accounting, both liquid and illiquid strategies.• Expertise on GAAP accounting requirements and tax rules as they apply to investment companies and private fund structures.• Understanding of real estate operating and development activities a plus.• Advanced problem-solving and creative critical thinking skills to resolve ambiguous, complex and multi-variable problems.• Advanced negotiation, managerial, and leadership skills.• Ability to manage contradictory ideas and to arbitrate opposing views for the team to seek a “third” alternative that integrates the best of all ideas.• Ability to organize and manage multiple projects and prioritize competing needs.• Excellent interpersonal, organizational, and communication skills.• Ability to work from our Cambridge, MA, offices at least two days per week.*Please note that MIT does not provide visa sponsorship for technical, administrative, or library full-time or part-time regular positions. Additionally, MIT does not provide visa sponsorship to recent graduates and practicing professionals for internship training, practical experience, or other non-teaching, non-research affiliations.
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