This position can be anywhere in the country (primary: NY)
EY is a leader in serving the global financial services marketplace and the only professional services firm with a separate business unit dedicated to the financial services industry – the Financial Services Organization (FSO). Our focused model and bold ambition have put us at the center of the events that continue to reshape and redefine our industry, working side by side with a range of clients from our most venerable institutions to dynamic new entrants across Banking and Capital Markets, Wealth and Asset Management and Insurance. Our purpose is to help build a financial services industry in which financial institutions are trusted and flourish, and the global economy is healthy, growing and secure. If you have a passion for rallying together to solve complex challenges, then come join our dynamic FSO team!
The opportunity
EY's tax practice provides comprehensive and specialized tax assistance tailored to the unique needs of the Private Tax industry. You would join our tax professionals who are knowledgeable and experienced with varied and specialized facets of individual, trust, gift, estate, foundation and partnership taxation. Our FSO Private Tax practice clients are ultra-high net worth individual clients who have historically amassed their wealth within the asset management (ie hedge and private equity), banking and related financial services industries.
Your key responsibilities
As a Senior in our FSO Private Tax practice, you will be responsible for tax compliance and advisory work for clients. You would work on key partnership issues in domestic federal, international and state and local taxation with a focus on implementing tax strategies that align with the client's business objectives. You will be involved in Private Tax partnership tax compliance accounts for affiliated ultra-high net worth individuals within the hedge and/or private equity fund industry. This involves tax adjustments with K-1's and partnership tax returns. You will review Partnership Agreements and Private Placement Memorandums for tax implications of items such as book and tax allocations, allocation provisions, management and incentive fees.
Skills and attributes for success
- Solid tax technical knowledge - you will have to review partnership book/tax allocations including aspect such as incentive fee re-allocation, side pocket, transfer partnership interest, fill up/down etc.
- Ability to analyze 1099’s and schedule k-1’s to appropriately pass on relevant information
- Building impactful relationships with new and existing clients as well as building and maintains relationships with leadership; create a positive and trusting environment
- Ability to identify key tax technical issues and raise the appropriate questions and consult when necessary
- Expertise to work on investment partnerships or operating entities
- Ability to reconcile cash and build tax basis financial statements is a plus
To qualify for the role you must have
- A Bachelor's degree in Accounting, Finance or Economics and a minimum of 3 years of related work experience; or an advanced degree in tax or law and a minimum of 2 years of related work experience
- CPA license or a licensed Attorney or the ability to achieve either of these license
- A minimum of 3 years of relevant tax experience or equivalent experience in business or the financial services industry
- Familiarity with the financial services industry gained through direct involvement with managed investment vehicles
- Broad exposure to federal income taxation and some exposure to state and local tax
Ideally, you'll also have
- Excellent organizational, and verbal/written communication skills
- Demonstrated tax experience
What we look for
Hard working team player who is comfortable partnering with others as well as working independently. Detailed oriented performer who can multi-task and meet deadlines. Open mindedness and creative solutions to the job every day.
- Continuous learning: You’ll develop the mindset and skills to navigate whatever comes next.
- Success as defined by you: We’ll provide the tools and flexibility, so you can make a meaningful impact, your way.
- Transformative leadership: We’ll give you the insights, coaching and confidence to be the leader the world needs.
- Diverse and inclusive culture: You’ll be embraced for who you are and empowered to use your voice to help others find theirs.