Senior Associate, Mutual Fund Tax and Accounting

  • Competitive
  • Jersey City, NJ, USA
  • Permanent, Full time
  • New York Life Insurance Company
  • 20 Jan 18 2018-01-20

Senior Associate, Mutual Fund Tax and Accounting

New York Life Investments (NYLIM), an indirect, wholly owned subsidiary of New York Life Insurance Company, is a top 25 global asset management firm. With more than $500 billion in assets under management, NYLIM is a premier investment management firm serving a variety of client segments including retail, institutional, insurance and defined contribution and benefit on a global basis. New York Life Investments offers a diverse set of investment capabilities ranging from traditional equity and fixed income to alternative investment strategies and multi-asset solutions. Renowned for its premier investment acumen and client focus, NYLIM's vision is to be one of the most trusted providers of investment management expertise and long-term financial security.

The Fund Administration and Accounting Oversight Group ("FAA") is currently seeking a qualified candidate to join our team as a Senior Associate. We are looking for a driven individual with a focus on limiting risk and the continued development and support of a strong team. Ideally this individual should have a good understanding of all aspects of the mutual fund industry and exchange traded funds with a focus on Regulated Investment Company tax ("RIC Tax") and the accounting and administration areas. Strong analytical skills and the ability to multi task are essential for this position.


  • Responsible for the review of asset diversification and gross income tests in accordance with Section 851 as well as the diversification tests under Section 817 for variable annuity products.
  • Ensure that the distribution requirements under Section 852 are met.
  • Responsible for the oversight of all the tax disclosures within all financial reports.
  • Oversight of all tax provisions and tax returns including the 1120 RIC and 8613.
  • Responsible for the oversight of all mutual fund year end shareholder reporting including the ICI Primary, Secondary and tax notices inclusive of market discount allocation, qualified dividend income and dividend received deduction calculations.
  • Technical expertise with 1256, 988, tax straddles, etc. to ensure tax service provider is properly accounting for various M-1 adjustments.
  • Responsible for assisting in various mutual fund and exchange traded fund initiatives and ad-hoc projects.
  • Apply tax adjustments where necessary on the monthly, quarterly and annual dividends.
  • Coordination between fund accounting/administration, tax service provider and auditors.
  • Coordination with "internal clients" such as Portfolio Manager teams, Marketing, Transfer Agency etc
  • BA/BS required.
  • Familiarity with Subchapter M of the Internal Revenue Code, Investment Company Audit Guide including GAAP,1940 Act and Regulation SX.
  • Experience in various complex RIC Tax adjustments such as Contingent Payment Debt Instruments.
  • Experience with Excise tax.
  • A minimum of 7 years of Mutual Fund Tax experience is required.

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* Based on revenue as reported by "Fortune 500, Ranked within Industries, Insurance: Life, Health (Mutual)," Fortune Magazine, June 15, 2015. See for methodology.

1. Operating earnings is the key measure use by management to track Company's profitability from ongoing operations and underlying profitability of the business. This indicator is based on generally accepted accounting principles in the US(GAAP), with certain adjustments Company believes to be appropriate as a measurement approach ( non GAAP), primarily the removal of gains or losses on investments and related adjustments.

2. Assets under management represent Consolidated Domestic and International insurance Company Statutory assets (cash and invested assets and separate account assets) and third party assets principally managed by New York Life Investment management Holdings LLC, a wholly owned subsidiary of New York Life Insurance Company.