Job Information
BlackRock Vice President, Alternatives Tax in New York, New York
About this role
Due to the significant expansion in BlackRock Private Markets platform, a hire is required in New York to join the global BlackRock Private Markets Tax Team. 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.
Role Description
This is an in-house role focusing on tax advising and structuring of BlackRock’s private markets investment platform supporting the private equity, secondaries and hedge fund-of-funds solutions business lines, including:
Providing hands-on tax support to the BlackRock private markets business areas
Providing oversight and input on documentation and tax due diligence on selected investments to be held by the funds, and working with the business team and external advisors to mitigate any identified tax risks
Structuring investments and investment holding structures, and understanding the overall impact of fund structures
Reviewing and negotiating legal documentation for such transactions with legal and tax advisors
Providing oversight of Big 4 and law firm deal teams advising on such transactions
Monitoring domestic and international tax laws and advising on the impact on investment structures
Assisting in development of robust tax-related processes and procedures as the platform expands
Working with the wider Product Tax team on matters arising which impact BlackRock’s broader product offering
Reporting Line
The individual will report to a Director in the Private Markets Tax team in New York. That Director reports to the Global Co-Heads of Private Markets Tax (based in New York), who reports to the Global Head of Tax (based in New York). The role involves working both with members of the global Private Markets Tax Team (based in the US, EMEA, and Asia Pac) as well as the broader US Product Tax Team.
Key Responsibilities
Advise on new product tax work, including fund structuring, development of product strategies, tax structuring and review of documentation, as well as ongoing tax oversight for the fund complexes and vehicles associated with those businesses
Advise on tax matters concerning investment acquisitions, underlying investment structures and strategies, and related transactional documents
Communicate with investors and underlying investment sponsors regarding tax requests and queries, as well as engaging on tax provisions in legal documents
Assist BlackRock’s client relations and sales and marketing teams with client communications (including potential investors)
Liaise closely with members of the global Private Markets Tax Team responsible for covering the business lines above in their respective region
Assist with oversight of US tax reporting compliance work outsourced to external advisors
Support product development teams in evaluating and developing new products with insightful and practical tax input
Undertake necessary tax due diligence and setup needed for new fund launches and investments, with support from team colleagues as required
Monitor tax technical developments affecting these funds, and respond as necessary
Build robust practices and efficiencies with respect to tax policies and operational processes.
Skills and Experience – Required
The following are required from all candidates:
JD/LLM degree (or substantial equivalent)
Experience working in practice, either at a law firm, a Big 4 accountancy firm or in-house at a private equity or hedge fund or an asset management company
Knowledge of tax aspects of private funds, both from a US and non-US tax perspective
Understanding of fund and SPV structures for alternative investments
Experience reviewing tax provisions of LPAs, PPMs, side letters and transactional documents such as purchase agreements and credit agreements
At least 5+ years’ experience with tax issues in the asset management space
Aptitudes
This is a high exposure role, involving much direct contact with the BlackRock private markets business lines and some with end clients. The product range is often highly challenging in tax technical terms. Accordingly, it is important that the individual:
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
is able to perform effectively in a fast-paced environment
For New York City only: The salary range for this position is $176,000 - $229,500. Additionally, employees are eligible for an annual discretionary bonus, and benefits including heath care, leave benefits, and retirement benefits. BlackRock operates a pay-for-performance compensation philosophy and your total compensation may vary based on role, location, and firm, department and individual performance.
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. Employees are currently required to work at least 4 days in the office per week, with the flexibility to work from home 1 day a week. Some business groups may require more time in the office due to their roles and responsibilities. We remain focused on increasing the impactful moments that arise when we work together in person – aligned with our commitment to performance and innovation. As a new joiner, you can count on this hybrid model to accelerate your learning and onboarding experience here at BlackRock.
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 @blackrock (http://careers.blackrock.com/) | Twitter: @blackrock (https://twitter.com/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.