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Vice President, Portfolio Tax Group

London, United Kingdom
Closing date
Feb 5, 2023

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Job Function
Industry Sector
Finance - General
Employment Type
Full Time

About this role

Business Unit Overview:

BlackRock Product Tax oversees tax planning, tax reporting, and tax regulatory compliance for all BlackRock funds. The Portfolio Tax Group (PTG) is a sub-group within Product Tax. The team's functions are managed from New York, Princeton, London, San Francisco, Hong Kong, and Budapest. The group works with key internal stakeholders including various Business Operations groups such as Global Accounting and Product Services (GAAPS), Onboarding, Portfolio Management, Legal and Securities Lending. The group also engages with BlackRock's external custodial service providers and is responsible for administration and oversight of services as they relate to custody taxation.

Job Purpose/Background:

Based in the London, the successful candidate will report to the PTG Director also based in London. This role will be responsible for oversight of cross-border fund tax entitlement matters related to BlackRock's European fund ranges including; exchange traded funds, UK Life Insurance Company funds, Tax Transparent Funds, Lux, Irish, Dutch and UK Retail and Institutional funds. The role will regularly engage with/oversee BlackRock custodial service providers on tax entitlement matters. The role will also engage with key internal stakeholders on tax entitlement matters impacting BlackRock funds, providing commentary and analysis as well as standard and ad hoc reporting. The role is supported by PTG personnel based in Budapest.

Key Responsibilities:
  • Assist with oversight of custodial service providers and tax agents in all aspects of cross border withholding tax, "Fokus Bank" or European Union tax discrimination claims, non-U.S. tax filings and security level tax analysis.
  • Oversee custodial setup of BlackRock funds as well as ongoing custodial tax documentation review and maintenance.
  • Monitor regulatory developments impacting tax entitlements and work with internal and external partners to develop and implement new protocols and/or operational processes as necessary.
  • Assist /lead monthly service provider meetings ensuring BlackRock fund entitlement matters are monitored and addressed in a timely manner.
  • Drive consistent fund treatment and custodial servicing across multiple providers.
  • Review tax data reports and metrics to identify key trends or identify areas of concern.
  • Assist /lead regular oversight meetings with Budapest team members to ensure custodial documentation solicitations are proactively addressed.
  • Work with service providers, clients, and internal business units to support ongoing tax entitlement for Tax Transparent Funds and their investors.
  • Engage in monthly GAAPS/accounting agent tax reclaim reconciliation meetings to provide commentary and analysis of tax entitlements / assist with resolution of reconciliation discrepancies.
  • Assist with tax related projects and initiatives that impact Securities Lending
  • Represent PTG as part of supporting fund board reporting processes.

  • Bachelor's degree in Business, Accounting or Finance or equivalent relevant work experience.
  • 5+ years of experience working in a tax team within investment management, brokerage, or global custody (global custody experience preferred).
  • Knowledge of asset management business, fund accounting and global custody.
  • Knowledge of cross-border withholding taxation and tax treaties.
  • Understanding of securities lending business / tax issues is a plus

  • Organized and methodical, possessing attention to detail, ability to work under pressure with very tight deadlines is a must.
  • Comfortable engaging with a variety of internal / external stakeholders on tax matters and driving PTG initiatives.
  • Effective written and verbal communicator able to articulate custody tax matters/requirements to a varied audience in plain English.
  • Driven to identify, propose and implement potential process improvement opportunities.

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 current hybrid work model is designed to enable in-person connections and collaboration that is core to our culture, while supporting increased flexibility for all employees. In line with local health guidance and regulations, employees are required to work at least 3 days in the office each week, with the flexibility to work from home up to 2 days a week. Some business groups may require more time in the office due to their roles and responsibilities. The health, safety and well-being of our people will always be our top priorities; we will continue to monitor local conditions and health advisories in making decisions about our work environments.

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 | | Instagram: @blackrock | Twitter: @blackrock | LinkedIn:

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.

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