Vice President - Alternatives Tax Advisor - Tax Planning Vice President - Alternatives Tax Advisor - Tax  …

BlackRock
in New York, NY
Permanent, Full time
Be the first to apply
Competitive
BlackRock
in New York, NY
Permanent, Full time
Be the first to apply
Competitive
Vice President - Alternatives Tax Advisor - Tax Planning
Description

About this role

Introduction

Due to the recent significant expansion in BlackRock Alternative Investors (BAI), a new role is being created for a permanent hire in New York to join the global Alternatives Product Tax Group. This team currently comprises 31 staff in total and is headed up by a Managing Director 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 group has a business line, as well as regional, structure. Thus, a global umbrella structure for our Alternatives businesses is supplemented by North America, EMEA, Asian and Latin American regions.

BlackRock Alternative Investors ("BAI") is responsible for investment management, strategic planning and oversight across BlackRock's $180+ billion alternatives investment platform. BAI's platform includes alternative solutions, direct hedge fund strategies, hedge fund solutions, private equity solutions, private market opportunities, real estate and infrastructure investments.

This role exists within the 31 strong global Alternatives Product Tax team, part of a strong global tax function headed up out of New York.

BlackRock is currently active in the following Alternatives areas:
  • Private equity solutions
  • Direct hedge funds
  • Hedge fund solutions
  • Private infrastructure (equity and debt)
  • Real estate (equity and debt)
  • Alternative solutions
  • Direct private equity and venture capital
  • Private credit (Mortgage securitisation / CLOs / direct lending)


Role description

This is an in-house tax advisory role, in which strong technical and business exposure will be utilized to support all Alternatives asset classes detailed above. It is currently envisaged that the roleholder would be responsible for assisting in covering the following areas (although some flexibility may be possible depending on the roleholder's experience, knowledge and interest):

  • Carried interest and carry vehicle tax structuring
  • Employee investments in all Alternatives asset classes
  • US tax policy
  • Tax structuring of investment funds and investments in the growth equity space


The role involves:
  • Analyzing carry arrangements in Alternatives funds across all asset classes.
  • Providing hands-on tax support to the BlackRock Alternatives business areas, Human Resources, Legal, Fund Accounting, GP Accounting, Business Operations, Corporate Tax, and other financial support groups.
  • Assisting with new product launch tax work, including tax structuring and review of documentation, as well as ongoing tax oversight for the fund complexes and vehicles associated with those businesses.
  • Analyzing tax issues and implications with employee investments in Alternatives across all asset classes.
  • Assisting with tax structuring for certain fund launches and investments entered into by such funds.
  • Developing tax policies and operational processes and procedures across the product platforms.
  • Managing relationships with and overseeing the work of external tax service providers
  • Working with the wider Alternatives Product Tax team (i.e., including non-Alternatives) on matters arising which impact BLKs' broader product offering


Reporting line

The roleholder will report to a Director in the Alternatives Product Tax team in New York. The Director reports to the Global Head of Alternatives Tax (based in New York), who reports to the Global Head of Tax (based in New York). The role involves working laterally both with members of the global Alternatives Product Tax team (based in the US, EMEA, and Asia Pac) as well as the broader US Product Tax team (i.e., non - Alternatives).

Key responsibilities

For the assigned Alternatives areas outlined above:
  • Advise on GP and carry issues involved with new fund launches and transaction structuring
  • Advise on global tax issues involved with the structuring of employee investments in alternatives funds
  • Advise on global tax issues involved with the structuring of certain alternatives funds and related investments
  • Liaise closely with other members of the Global Alternatives Tax Team responsible for covering the Alternatives areas above
  • Collaborate with other key stakeholders (Finance, Legal, Human Resources, Fund Accounting, GP Accounting, Business Operations, Alternatives business team embers, etc.) covering Alternatives within BlackRock
  • Answer, or assist in the handling of queries from business leaders,carry participants and employee investors
  • Review of tax waterfalls and tax allocations
  • Review tax structuring and documentation for new funds
  • Liaise closely with members of the global Alternatives Product Tax Group responsible for covering the Alternatives areas above in their respective region (based in the US, EMEA and Asia Pac)
  • Provide occasional internal tax training sessions and seminars, as demand requires
  • Recognize inquiries and issues that relate to corporate tax, transfer pricing or VAT, and route these promptly to the appropriate wider tax team members
  • Monitor key tax legislative developments that are of relevance to Alternatives and the supported businesses and keep the business teams updated on these developments
  • Work within the Alternatives Tax Team to increase efficiencies and establish and maintain best practices with respect to tax policies and operational processes


Skills and experience - required

The following are required from all candidates:
  • JD
  • Understanding of fund and carried interest structures for alternative investments
  • Experience reviewing tax provisions of LPAs
  • At least 4+ years' experience in the investment management taxation industry (within an asset manager or law firm) with emphasis on alternative products
  • Proficient in the taxation of partnerships and carried interest, including calculation of tax waterfalls and tax allocations
  • Proficient in the taxation of equity and debt investments in alternatives products
  • Ability to work with teams and functions from various disciplines located in multiple locations
  • Strong problem-solving and analytical abilities
  • Experience in presenting tax issues to small seminar groups


Skills and experience - advantageous

The following would be of advantage, but are neither required nor expected of candidates:
  • In-depth knowledge of all Alternatives areas that BlackRock offers.


Aptitudes

This is a high exposure role, involving much direct contact with the BlackRock Alternatives business lines and key stakeholders. The product range is often highly challenging in tax technical terms. Accordingly, it is important that the roleholder:
  • is highly conversant with the subject area
  • is able to communicate complex tax issues clearly and concisely, in a manner targeted at a wide range of different audiences
  • is a credible and well-presented professional adviser
  • has the interpersonal skills to work effectively within a large in-house tax team, cross-border teams and with multidisciplinary business and project teams
  • is able to meet tight time deadlines and perform effectively under time pressure


Experience and qualifications

It is envisaged that the roleholder will hold a professional legal qualification and will have spent some time during their career working in practice, either at a law firm or in-house at a private equity or hedge fund or an asset management company.

The roleholder should have at least 4+ years' experience working in Alternative fund taxation.

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.

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. Their investments also help to strengthen the global economy: support businesses small and large; finance infrastructure projects that connect and power cities; and facilitate innovations that drive progress.

This mission would not be possible without our smartest investment - the one we make in our employees. It's why we're dedicated to creating an environment where our colleagues feel welcomed, valued and supported with networks, benefits and development opportunities to help them thrive.

For additional information on BlackRock, please visit careers.blackrock.com | www.blackrock.com/corporate | Instagram: @blackrock | Twitter: @blackrock | LinkedIn: www.linkedin.com/company/blackrock

BlackRock is proud to be an Equal Opportunity and Affirmative Action Employer. We evaluate qualified applicants without regard to race, color, national origin, religion, sex, sexual orientation, gender identity, disability, protected veteran status, and other statuses protected by law.

BlackRock will consider for employment qualified applicants with arrest or conviction records in a manner consistent with the requirements of the law, including any applicable fair chance law.
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