Overview

Our client, a well-known asset manager with $55 billion in AUM, is looking to hire TWO Tax Accountants. This department is focused on continually raising the bar to improve upon existing processes and to drive increased efficiency. The Tax Accountants will work with the other Tax Department members and outside tax firms to facilitate the preparation of investor K-1s and PFIC statements issued to investors by April 15th each year and Federal and state tax returns by their extended due dates. There will also be numerous other projects requiring attention throughout the year.

• Location: Chicago, IL (beautiful office in the Loop)
• Work Schedule: Hybrid (3 days in office)

Responsibilities:

• Work in a cross-functional environment and serve as a bridge between Tax and Fund Accounting, Investor Communications, Strategic Accounting and Finance, Technology Solutions and Direct Lending staffs
• Coordinate with the rest of the Tax Department to divide and conquer tax compliance for the funds and related entities of the Firm. This includes the review of workpapers and tax returns for (i) privately held investment partnerships and funds, (ii) various subsidiaries of these funds including numerous blocker corporations, (iii) one publicly traded and one privately held Business Development Company (“BDC”) / RIC, (iv) general partner entities and (v) management companies. These entities are a mix of US and foreign based.
• Create a tax return summary for each taxpayer that is sent to Executive Management for their review and approval
• Compute quarterly estimated taxable income for funds and their GPs
• Prepare blocker corporations’ quarterly estimated tax calculations and year-end tax workpapers for outside tax firms
• Liaise with Fund Accounting, Strategic Accounting and Finance to ensure complete, accurate tax workpaper packages are provided to the outside tax firms that prepare tax returns and K-1s
• Join forces with the Investor Communications Team to provide investor data to external tax preparers for K-1 and 1099-DIV / 1042-S preparation
• Collaborate with Operations and Investor Communications to facilitate information reporting and withholding for Agented loans.
• Contact portfolio companies for current year Schedule K-1s or 1099-DIVs / 1042-S; review documents received and track tax basis of the investment
• Collaborate with Direct Lending Teams to perform the initial tax review of proposed equity investments and initial tax review of memos documenting equity dispositions
• Work with senior team members and Fund Accounting to draft ASC 740 memos, tax provisions, tax footnotes, etc. for entities that undergo financial statement audits
• Monitor and periodically update Tax Department process and procedure documentation
• Provide recurring exhibits for monthly tax meeting agenda with Executive Management
• Assist in filing and reviewing tax notices from various jurisdictions; provide draft responses or recommend action plan
• Prepare W-9s / W-8s for new entities; help maintain internal database of valid tax forms
• Ad-hoc projects and requests

Qualifications:

• Bachelor’s degree in Accounting or Finance
• CPA certification required
• Master’s degree in Accounting or Taxation is a plus
• 2 to 4 years of relevant tax experience in the financial services industry
• Meaningful knowledge of partnership taxation as well as US based and non-US based investment vehicles
• State tax experience is a plus
• An understanding of the taxation of debt investments is a plus
• Knowledge of Workday or Wall Street Office (WSO) is a plus
• Strong written and verbal communication skills
• Excellent organizational skills with the ability to handle numerous projects at a time and prioritize as appropriate
• Highly meticulous, detail-oriented and process driven

Posted On: Monday, May 15, 2023