The Tax Senior role is a position within the Firm Tax Department of the Investor Services division of The Carlyle Group, which is responsible for Carlyle's global tax matters and strategy. The Tax Senior will work closely with other members of the Finance organization, especially members of the Tax and Corporate Accounting teams. The Tax Senior is responsible for senior level support to the Firm Tax Reporting and Planning team, which oversees the Firm's financial reporting for tax, tax planning and forecasting, and tax analysis related to changes in the business, new product offerings and Firm transactions.
The Tax Senior will be responsible for preparing the workflows under his/her coverage which will include the completion of the tax provision calculations for the Firm's SEC filings (i.e. 10-K and 10-Q) and related tax disclosures in the corporate structure. This involves the preparation of provision work papers, consolidated provision work papers, management reports, and tax memorandums and other documentation. The focus of this role will be on US federal and international tax matters related to the Firm's foreign advisory entities, Investment Solutions division related to international operations of AlpInvest in the Netherlands and Hong Kong, support of transfer pricing workflows and various other consolidated workflows. The Tax Senior will also work with the members of the Finance organization or external service providers on tax forecasting models, tax planning and tax analysis for Firm transactions, changes in the business or new service offerings.
Financial Reporting for Taxes
Forecasting, Tax Planning and Tax Analysis of Changes in Business/Transactions
- Prepare quarterly and annual tax provision calculations of various entities with a focus on US and international tax under ASC 740.
- Prepare supporting work papers such as foreign analytics on Subadvisor entities, IRC Section 163(j) for interest disallowance, valuation allowance analysis and assessment, investment basis rollforwards, and other components of the tax provision calculation.
- Prepare tax memorandums documenting tax research, analysis, and positions taken by the Firm in the financial statements and/or tax returns.
- Prepare the return to provision adjustments including the estimate vs. error analysis.
- Validate and document the support of the Firm's deferred tax inventory and income tax payable accounts.
- Monitor and document new and existing uncertain tax positions and coordinate with external service advisors to evaluate the Firm's uncertain tax positions.
- Maintain & document SOX 404 processes for the tax department.
- Team with the Tax Manager to apply the impact of changes in both GAAP standards, especially ASC 740 and FASB guidance impacting tax reporting, and tax legislative changes to the tax provision workpapers and other documentation.
- Coordinate with internal and external auditors on gathering support, responding to inquiries, etc.
- Other responsibilities as needed to support the accuracy and/or efficiency of financial reporting for taxes.
Process Improvement, Team Development and Other Responsibilities
- Prepare and maintain tax forecasting models on cash tax and other GAAP/non-GAAP metrics, with focus on US federal and international tax implications.
- Prepare workpapers and document the matters relevant to US federal and international tax for the foreign advisory entities and Investment Solutions entity transactions and the impact on the US consolidated group.
- Attend and document tax follow-up items/analysis from monthly Firm significant transaction meetings with Corporate Accounting and work with the Tax Manager to complete of any tax follow-up items/analysis.
- Coordinate with external service providers (as needed) on tax analysis and documentation of Firm transactions or tax positions related to US federal and international tax positions.
- Coordinate with various consultant(s) that are assigned to the Firm Tax Reporting and Planning team.
- Identify, make recommendations and participate in efforts to drive process efficiencies and enhancements in various provision and planning workflows, including optimizing tax sensitization of GL accounts to facilitate automation, end to end data needs for tax workflows with particular focus on financial reporting for taxes quarterly, annually and return to provision and how these processes leverage ITR and link with the estimate and compliance processes.
- Maintain tax accounts on a monthly basis and perform account sign-offs in OneStream.
- Provide PBC or tax deliverables to Tax Compliance team for calculation of quarterly tax estimates, tax extensions, and the tax returns.
- Coordinate with Tax Compliance team during review of tax returns and calculation of return to provision adjustments.
- Coordinate with other internal stakeholders (Tax Operations, or Controller teams, Corporate Accounting, FP&A, etc.) to provide tax related information.
- Other projects as applicable.
- Bachelor's degree, required
- Accounting, Finance or Economics Major, or equivalent relevant work experience in addition to Bachelor's Degree in another field, required
- CPA or CPA-eligible, strongly preferred
- Master's degree in Taxation a plus
- 2-4 years accounting/tax experience required
- ASC 740 experience strongly preferred
- C corporation tax, partnership tax, and/or federal/state tax compliance experience preferred
- Private equity experience preferred
- Proficient Microsoft Office skills
- Strong interpersonal skills
- Strong organizational skills
- Seeks to proactively drive change by making process and other recommendations to enhance processes and deliverables
- Organized and efficient approach to record-keeping
- Excellent communication skills - both written and oral. Must be able to ask questions and gather data from a variety of resources and other staff members within the firm
- Demonstrated ability to work effectively as part of a team
- Dedicated to developing less experienced team members
- Ability to multi-task in a fast-paced environment
- Embraces technology and seeks to improve processes
- Solid technology and financial system skills a plus (training available for specific Carlyle systems)
The Carlyle Group (NASDAQ: CG) is a global investment firm with $260 billion of assets under management and more than half of the AUM managed by women, across 437 investment vehicles as of March 31, 2021. Founded in 1987 in Washington, DC, Carlyle has grown into one of the world's largest and most successful investment firms, with more than 1,800 professionals operating in 29 offices in North America, South America, Europe, the Middle East, Asia and Australia. Carlyle places an emphasis on development, retention and inclusion as supported by our internal processes and seven Employee Resource Groups (ERGs). Carlyle's purpose is to invest wisely and create value on behalf of its investors, which range from public and private pension funds to wealthy individuals and families to sovereign wealth funds, unions and corporations. Carlyle invests across three segments - Global Private Equity, Global Credit and Investment Solutions - and has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation.
At Carlyle, we know that diverse teams perform better, so we seek to create a community where we continually exchange insights, embrace different perspectives and leverage diversity as a competitive advantage. That is why we are committed to growing and cultivating teams that include people with a variety of perspectives, people who provide unique lenses through which to view potential deals, support and run our business. As our Chief Executive Officer, Kewsong Lee, stated, "We seek to attract individuals from a broad set of backgrounds and experiences because we know that diverse teams ask better questions and inclusive teams find better answers. Our diverse and inclusive community makes us better partners and ultimately, helps us to build better."