Product Tax, VP

BlackRock helps investors build better financial futures. As a fiduciary to our clients, we provide the investment and technology solutions they need when planning for their most important goals. As of June 30, 2018, the firm managed approximately $6.3 trillion in assets on behalf of investors worldwide. For additional information on BlackRock, please visit | Twitter: @blackrock | Blog: | LinkedIn:

Job Description:

The Portfolio Tax Group (PTG) advises and oversees the global business on a variety of common recurring issues present in all regions including, cross border withholding, global information reporting, self-assessed capital gains taxation, taxation of financial products, and securities lending. PTG acts as an internal resource to Product Tax members that have responsibility for specific fund or product ranges. Important stakeholders include Client Business Teams, Fund Administration, Legal, Portfolio Management, Securities Lending and Trading groups. An overarching goal of the group is to ensure consistency in the application of tax knowledge on a global basis where appropriate. The group seeks an additional member to service the Americas based business with a specific focus on Securities Lending, Trading / Liquidity Strategies, and U.S. withholding tax / FATCA. This role will report directly to the Global Head of PTG and will work closely with PTG and Product Tax functional leads, internal Legal counsel, and relevant business groups.

Areas of responsibility:

Securities Lending

  • Subject matter expert on all aspects of securities lending from a U.S. agent with respect to U.S., Canada, and Japan domiciled funds.
  • Represent BlackRock / participate in RMA / ISLA securities lending forums.
  • Monitor global regulatory change / process impacting the business.
  • Advise on appropriate lending rates for funds.
  • Advise on expansion of lending programs in new markets, asset types, collateral, etc.

Trading, Liquidity Strategies
  • Strong transactional tax background focused on financial instruments.
  • Tax planning for a marketing and trading business (e.g., analyzing the tax impacts of debt issuances, equity, options, forwards and futures, and swaps).
  • Structuring and documenting complex internal and external financing transactions.
  • Drafting tax memoranda, opinions, and ruling requests or oversee advisors doing similar work.
  • Communicate complex tax technical issues to Senior Management and internal/external stakeholders.

Common Reporting Standards, FATCA, U.S. Information Reporting, Non-Resident Alien Withholding
  • Subject matter expert advising the Americas business on regulatory requirements and process applicable to both U.S. and foreign financial institutions.
  • Development of procedure manuals and policies related to self-certification validation and withholding tax
  • Communicate requirements to clients as necessary.
  • Assist business as necessary to appropriately document BlackRock accounts maintained by other financial institutions
  • Provide technical training to internal stakeholders including but not limited to Business Operations (OnBoarding, Fund Admin, Derivative Documentation, TA Oversight, Change Management), Tax, and Client Business

Oversee annual FATCA/CRS audit checks performed by TA oversight teams

  • Working knowledge of UBTI / other concerns of tax exempt organizations and governmental entities.
  • Contractual drafting experience with financial counterparties.

Minimum Qualification
  • 10 years of experience in public accounting, private industry, law firm, or a combination
  • CPA and/or JD
  • Comfortable / experienced with a matrix reporting organization.
  • Ability to self-direct.
  • Flexible mindset and willingness to embrace change.
  • Very strong people and project management skills.
  • Experience communicating with global teams and stakeholders
  • Candidate must be able to perform the necessary background work independently, interfacing with appropriate tax and non-tax team members in order to articulate clear and timely recommendations on key tax issues
  • Work effectively under real-world circumstances of imperfect information and/or short timelines
  • Participate in industry events, attend industry events and participate in comment letters where appropriate

    Preferred Qualification
  • CPA or JD/LL.M.

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 criminal histories in a manner consistent with the requirements of the law, including any applicable fair chance law.

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