Vice President, Private Markets Tax

About this role
Introduction
Due to the recent significant expansion in BlackRock's Private Markets platform, a new role is being created for a permanent hire in New York to join the global Private Markets Tax Group. 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.
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 Private Markets team is responsible for investment management, strategic planning and oversight across BlackRock's $340+ billion alternatives investment platform.
BlackRock is currently active in the following areas:

• Private equity and infrastructure solutions
• Direct private equity and venture capital
• Private credit (Mortgage securitization / CLOs / direct lending)
• Private infrastructure (equity and debt)
• Real estate (equity and debt)
• Hedge fund solutions
• Alternative solutions
• Direct hedge funds

Role description
This is an in-house tax oversight, coordination, tax accounting, and advisory role supporting the Private Markets Tax platform. This hire will help oversee tax compliance and advisory for carried interest partnerships. These partnerships derive carry from funds across all private market groups including BlackRock's infrastructure, credit, private equity, fund-of-fund, and real estate teams & allocate carry to senior BlackRock employees who support the Private Markets group.
The role involves:

• Providing hands-on tax support to the business, Human Resources, Legal, Fund Accounting, Business Operations, Corporate Tax, and other financial support groups related to GP and carry issues
• Establishing processes and procedures to ensure consistency of and consideration of all tax issues related to GP and carry arrangements
• Assisting with significant Private Markets Tax projects, guidelines and policies across various business groups
• Manage relationships with and oversee the work of external tax service providers
• Working with the wider Private Markets Product Tax team on matters arising which impact BLK's broader product offering
• Calculating tax distributions, tax clawbacks, tax waterfalls, and other tax amounts relevant to GP and carry in Alternatives tax funds
• Analysing carry arrangements in Private Market funds across all asset classes
• Other special projects across the Private Markets Tax function

Reporting line
The roleholder will report to a Vice President in the Private Markets Product Tax Team in New York who in turn reports to the Global Co-Head of Private Markets Tax (based in New York), who in turn reports to the Global Head of Tax (based in New York). The role involves working with members of the Global Private Markets Tax team (based in US, EMEA and Asia Pac).
Key responsibilities

• Assist with the coordination and review of US tax reporting compliance work relating to carry, GP issues and employee investments, which is prepared by external providers
• Review of tax waterfalls and tax allocations
• Advise on GP and carry issues involved with new fund launches and transaction structuring
• Liaise closely with members of the Global Private Markets Tax Team responsible for covering the Private Markets areas mentioned above
• Collaborate with other key stakeholders (Finance, Legal, Human Resources, Fund Accounting, Business Operations, Private Markets business team members, etc.) covering Private Markets within BlackRock
• Answer, or assist in the handling of, queries from business leaders and carry participants
• Provide occasional internal tax training sessions and seminars, as demand requires
• Monitor key tax legislative developments that are of relevance to Private Markets and the supported businesses, and keep the relevant groups updated on these developments
• Work within the Alternatives Tax Team to increase efficiencies and establish best practices and ensure that tax policies are adhered to and applied consistently across various products

Skills and Experience - Required
The following are required from all candidates:

• Bachelors Degree in Accounting or related field (CPA preferred)
• 4+ years of tax accounting experience in the investment management industry with emphasis on alternative products
• Previous experience with an asset manager or Big 4 accounting firm
• Proficient in the taxation of partnerships and carried interest, including calculation of tax waterfalls and tax allocations
• In depth knowledge of US tax compliance

Aptitudes
This is a high exposure role, involving much direct contact with senior Private Market employees. It will require coordination across 7 distinct product lines and 11 Big 4 tax compliance teams to execute upon tight deadlines to senior stakeholders at BlackRock. Accordingly, it is important that the role holder:

• 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 highly organized

For New York City only: The salary range for this position is $142,500 - $190,000. 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 | 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.