Morgan Stanley Fund Services Tax Senior Manager
This position requires strong accounting, tax, computer, communication, presentational, leadership, and industry skills.
Principal Duties :
Supervise Tax Staff in preparation of partnership tax allocations, tax estimates, and K-1 working papers for Fund Administration clients. Responsible for providing tax allocation workpapers and estimates to tax preparers for client hedge funds. Duties will include reviewing workpapers and reports prepared by tax staff and providing additional tax related information requested by clients.
The Tax Senior Manager will be responsible for reviewing monthly tax reports, maintaining tax allocation plans, assisting the client conversion team with new client set-ups, and assisting clients with tax reports. This position requires a facility and ease with technology, as well as granular tax knowledge in the hedge fund area.
The Tax Senior Manager will assist in providing reports and working papers to client tax preparers. Job responsibilities include also reviewing tax allocation and fund level reports prior to their distribution to clients and/or tax preparers.
- Review monthly tax reports.
- Review monthly fund level tax calculation reports.
- Review reconciliation of monthly master-feeder tax allocations.
- Review partner tax allocation plans.
- Review layering and aggregate tax allocations.
- Review investor revaluation accounts for aggregate allocations.
- Review data for special tax reports including wash sales, constructive sales, straddles, debt adjustments and section 1256 reporting.
- Review tax withholding reports
- Responsible for maintenance of partnership tax lot layering
- Initialization of layering
- Maintain and reconcile tax lot layering reports
- Review layering reports
- Maintain contributed security built-in gain/loss
- Review periodic tax estimate reports
- Review fund level tax allocation reports for preparation of tax estimates.
- Review book to tax reconciliation.
- Coordinate for issuance of investor tax estimate letters.
- Review annual K-1 working papers
- Review tax allocation reports prior to distribution to clients and/or tax preparers.
- Reconcile master-feeder allocations
- Liaise with client tax preparers on year-end tax calculations
- Supervise calculation of taxable income and partner tax allocations
- Assist in provision of reports and working papers to tax preparer.
- Review various special tax reports.
- Assist client conversion teams with new client set up.
- Direct client and tax preparer contact.
- Accountant with 8+ years of multi-asset class Hedge Fund and Private Equity tax experience. CPA preferred. Family Office experiences a big plus.
- Strong computer skills. Comfortable working with technology and various internal financial applications.
- Knowledge of hedge fund tax accounting concepts including partnership tax accounting, tax allocations, management and incentive allocations.
- Experience with tax lot layering preferred.
- Experience with financial services taxation, including wash sales, PFICs, Section 1256 contracts, NPCs, Section 988, constructive sales and straddles.
- Experience with various hedge fund structures (master-feeder, mini-master, fund-of-funds).
- This position requires the ability to multi-task and balance competing client deliverables.
- Strong team and interpersonal skills.
- Strong presentational and communication skills.
- Big 4 experience with buy side experience a plus.