Tax Manager, Alternatives (Finance)

About Northern Trust:

Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution that has been in continuous operation since 1889.

Northern Trust is proud to provide innovative financial services and guidance to the world's most successful individuals, families, and institutions by remaining true to our enduring principles of service, expertise, and integrity. With more than 130 years of financial experience and over 22,000 partners, we serve the world's most sophisticated clients using leading technology and exceptional service.

50 South Capital is an alternatives asset management firm designed to meet the core strategic needs of investors seeking access to hedge funds, private equity, and private credit. It develops comprehensive investment solutions and services designed to meet alternatives investors' risk and return expectations. Its highly experienced team works closely with a wide range of investors to fulfill specific investment objectives and create lasting relationships. 50 South Capital's investment philosophy focuses on providing access to managers with unique and differentiated sources of return.

50 South Capital is looking for a Tax Manager to handle the tax responsibilities of our Hedge, Private Equity, Venture, and Credit Fund of Funds. With the recent closing of our Core Fund XI, Secondary Fund V and Sponsor Backed Credit Fund III we are looking to expand our team. 50 South Capital is a wholly owned subsidiary of Northern Trust and we currently manage over $15 Billion in Alternative Fund of Funds and Advisory Custom Accounts. We have a dynamic team of about 50 employees with diverse backgrounds and experience and looking for a candidate that likes a fast pace and engaging environment.

Job Summary

The Tax Manager will be a key member of the finance and operations team responsible for managing 50 South Funds tax compliance and modeling. This role will play a critical role in ensuring our tax obligations are met and that investors receive their deliverables in a timely manner. Additionally, this role will be responsible for working with the Investment Team and other internal groups to advise on tax considerations and fund structuring.

Role Responsibilities

• Manage the tax compliance process to ensure timely delivery of Schedule K-1s to investors. This process includes coordinating with external tax preparers, reviewing tax workpapers, Schedule K-1s, Federal and state tax returns, foreign and state informational and withholding reporting. This role would also manage the tax estimate process.
• Review and distribute Forms 1099 on behalf of our funds.
• Prepare calculation of quarterly tax estimates and tax distributions.
• Manage FATCA and CRS reporting for our offshore funds
• Analyze and resolve tax notices from IRS and state taxing jurisdictions.
• Respond to tax related investor inquiries and other ad-hoc requests.
• Advise the Investment Team on tax considerations during the Operational Due Diligence process and assist with set up on new fund structuring.
• Maintain Industry Knowledge: Stay up-to-date on changes in tax legislation, industry trends, and best practices.
• Initiate the implementation of departmental process improvements.

Necessary Knowledge and Skills

• Prior experience with taxation of partnerships and tiered investment structures.
• Prior experience with Regulated Investment Companies "1099 Funds"
• Role interfaces with both the Investment Team and Middle/Back-Office teams, as such experience/understanding of operations across front/middle/back office is important.
• Well organized, detail oriented and disciplined in approach. Excellent writing and communication skills.
• Prior experience with alternative investments or investment operations required.
• High proficiency in Microsoft Office Suite.

Necessary Experience and Education

• Bachelor's degree in Accounting, CPA (Certified Public Accountant) preferred.
• 5-10 years working in public accounting tax or an industry related tax department.

Salary Range:
$137,400 - 240,400 USD

Salary range is a good faith estimate of base pay. Northern Trust provides a comprehensive benefits package including retirement benefits (401k and pension), health and welfare benefits (medical, dental, vision, spending accounts and disability), paid time off, parental and caregiver leave, life & accident insurance, and other voluntary and well-being benefits. Northern Trust also provides a discretionary bonus program that may include an equity component.

Working with Us:

As a Northern Trust partner, greater achievements await. You will be part of a flexible and collaborative work culture in an organization where financial strength and stability is an asset that emboldens us to explore new ideas.

Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to assisting the communities we serve! Join a workplace with a greater purpose.

We'd love to learn more about how your interests and experience could be a fit with one of the world's most admired and sustainable companies! Build your career with us and apply today. #MadeForGreater

Reasonable accommodation

Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at MyHRHelp@ntrs.com .

We hope you're excited about the role and the opportunity to work with us. We value an inclusive workplace and understand flexibility means different things to different people.

Apply today and talk to us about your flexible working requirements and together we can achieve greater.