What are the responsibilities and job description for the Tax Analyst position at MIT Investment Management Company?
Position Overview:
MIT Investment Management Company (MITIMCo) is a department within MIT that currently manages over $25 billion in financial assets for the Institute’s endowment, retirement plan, and other capital pools. Our mission is to deliver outstanding long-term investment returnsfor MIT and our work directly furthers the transformative research and educational efforts of this world class institution.
MITIMCo is seeking a Tax Analyst within its Operations team. This role will provide critical support to the Associate Director of Finance in ensuring tax compliance for MIT’s investment entities, providing real time information of projected tax liabilities related to MIT’s investments, working with MIT’s Vice President for Finance (VPF) office by providing information needed to support tax compliance for MIT and its retirement and welfare benefit plans, managing MIT’s regulatory risk and filings for various domestic and international jurisdictions, ensuring accurate financial reporting of investments in MIT’s annual Treasurer’s report and its ERISA Plans, facilitating the issuanceof financial statements for MIT’s specialpurpose investing entities, and contributing to MIT’s mission of advancing education and research through strong financial stewardship. This role will work closely with MITIMCo’s Investment Accounting & Operations (IAO) and Portfolio Reporting Solutions (PRS) teams.
To effectively serve in this role, the ideal candidate will be familiar with fair value financial reporting principles and requirements as well as the tax implications of a variety of investments including public equities, options, derivatives, private equity, etc. The ideal candidate must have experience relevant to support assistance with the preparation and review of various tax returns including 1065s, 8802s, 1042s, and the tax treatment for various foreign investment corporations, including PFICs and Foreign Controlled Corporations. The candidate will have experience working with external tax preparers and consultants and must have strong communication skills.
Principle Duties & Responsibilities*:
- Work with the Associate Director of Finance and central MIT’s tax team to provide timely, accurate, and complete information for preparation of tax returns.
- Assist in the review of tax returns preparedby outside consultants to ensure accuracyrelated to investment activities.
- Liaise with central MIT’s Financial Accounting and Reporting team on matters related to investment accounting with respectto MIT’s generalledger and preparation of MIT’s and its Retirement Plans’ annual reports.
- Support ongoing monitoring, projection and analysis of investment income excise taxes.
- Facilitate required regulatory and rating agency reporting regarding US and non-US requirements, as appropriate.
- Work with the Associate Director of Finance to ensure timely completion of audits for MIT investments and MITIMCo managed investment affiliates (currently 12 entities).
Supervision Received:
- Will report to the Associate Director, Finance.
- Ability to work independently is required.
Qualifications & Skills**:
- Bachelor's degree in accounting, finance,or related field;CPA strongly preferred.
- 5 years’ experience in asset management and private funds financial and tax accounting, both liquid and illiquid strategies.
- Knowledge of GAAP accounting requirements and tax rules as they apply to investment companies and private fund structures.
- Advanced problem-solving and creative criticalthinking skills.
- Ability to organizeand manage multipleprojects and prioritize competing needs.
- Excellent interpersonal, organizational, and communication skills.
- Strong Microsoft Officeskills.
- Ability to work from our Cambridge, MA, offices at least two days per week and/or as required by company policy.
*Please note that MIT does not providevisa sponsorship for technical, administrative, or library full-time or part-time regular positions. Additionally, MIT does not provide visa sponsorship to recent graduates and practicing professionals for internship training, practical experience, or other non-teaching, non- research affiliations.
**Employment is contingent upon the completion of a satisfactory background check.