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- Tasks: Join our team to advise on tax for private markets investments and structure funds.
- Company: BlackRock is a leading investment firm dedicated to financial well-being for all.
- Benefits: Enjoy flexible time off, education reimbursement, and comprehensive health resources.
- Why this job: Be part of a dynamic team impacting global finance while developing your skills.
- Qualifications: 5+ years in tax, with knowledge of private funds and strong communication skills required.
- Other info: Hybrid work model with 4 days in-office, fostering collaboration and learning.
The predicted salary is between 43200 - 72000 £ per year.
About this role
Due to the significant expansion in BlackRock Private Markets platform, a hire is required in London 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 credit, private equity, multi alternatives and hedge funds 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 role holder will report to a Director in the Private Markets Tax team in London. 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 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 and collaborate 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 EMEA 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:
- Experience working in practice, either at a law firm, a Big 4 accountancy firm or in-house at a private markets asset manager
- Knowledge of tax aspects of private funds and private credit funds in particular
- 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 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 able to perform effectively in a fast-paced environment
Our benefits
To help you stay energized, engaged and inspired, we offer a wide range of employee benefits including: retirement investment and tools designed to help you in building a sound financial future; access to education reimbursement; comprehensive resources to support your physical health and emotional well-being; family support programs; 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.
BlackRock is proud to be an Equal Opportunity Employer. We evaluate qualified applicants without regard to age, disability, race, religion, sex, sexual orientation and other protected characteristics at law.
Product Tax, Private Markets - Vice President employer: BlackRock, Inc.
Contact Detail:
BlackRock, Inc. Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Product Tax, Private Markets - Vice President
✨Tip Number 1
Network with professionals in the private markets and tax sectors. Attend industry events, webinars, or conferences where you can meet people who work at BlackRock or similar firms. Building these connections can provide valuable insights and potentially lead to referrals.
✨Tip Number 2
Stay updated on the latest developments in tax laws and regulations that affect private markets. This knowledge will not only help you in interviews but also demonstrate your commitment to the field and your proactive approach to staying informed.
✨Tip Number 3
Prepare for interviews by practising how to clearly explain complex tax issues. Given the role's requirement for effective communication, being able to articulate your thoughts concisely will set you apart from other candidates.
✨Tip Number 4
Familiarise yourself with BlackRock's private markets investment platform and its specific products. Understanding their strategies and challenges will allow you to tailor your discussions during interviews, showing that you're genuinely interested in the company and its operations.
We think you need these skills to ace Product Tax, Private Markets - Vice President
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in tax advising, particularly within private markets. Emphasise your understanding of fund structures and any specific achievements that align with the responsibilities outlined in the job description.
Craft a Compelling Cover Letter: In your cover letter, express your enthusiasm for the role and the company. Discuss how your background in tax matters, especially in private funds, makes you a suitable candidate. Be sure to mention any experience with legal documentation and cross-border teams.
Showcase Relevant Skills: Highlight key skills such as communication, interpersonal abilities, and your capacity to work in fast-paced environments. Provide examples of how you've successfully navigated complex tax issues or collaborated with diverse teams in previous roles.
Proofread and Edit: Before submitting your application, thoroughly proofread your documents. Check for grammatical errors, clarity, and ensure that all information is accurate. A polished application reflects your attention to detail, which is crucial for this role.
How to prepare for a job interview at BlackRock, Inc.
✨Understand the Role Thoroughly
Before the interview, make sure you have a solid grasp of the responsibilities and expectations for the Vice President role in Product Tax. Familiarise yourself with BlackRock's private markets investment platform and how tax advising plays a crucial part in it.
✨Showcase Relevant Experience
Highlight your experience in tax issues within the asset management space, especially focusing on private funds and private credit funds. Be prepared to discuss specific examples where you've successfully navigated complex tax structures or documentation.
✨Communicate Clearly
Given the high exposure nature of this role, practice articulating complex tax concepts in a clear and concise manner. Tailor your communication style to suit different audiences, as you will be interacting with various stakeholders including clients and internal teams.
✨Demonstrate Team Collaboration Skills
Emphasise your ability to work effectively within large, cross-border teams. Share examples of past experiences where you collaborated with multidisciplinary teams to achieve common goals, particularly in fast-paced environments.
