Job Title: Director of Tax Compliance and Provision (Partnership)
Location: New York, NY
Job Overview:
Are you a seasoned tax professional looking for a new challenge? Our growing Tax Department is seeking an experienced Tax Director to join the team. This role is perfect for someone with a strong background in partnership and high-net-worth individual tax compliance, who excels in handling complex tax filings, and who enjoys working in a collaborative, fast-paced environment. The right person will have an opportunity to put a personal mark on the existing processes and make immediate improvements by finding built-in efficiencies and implementing automation. This role will be reporting directly to the Managing Director, Head of Tax Compliance, Provision and Reporting.
Firm Overview:
Cantor Fitzgerald L.P., with over 12,000 employees, has been a leading global financial services firm at the forefront of financial and technological innovation since 1945. Cantor Fitzgerald & Co. is a preeminent investment bank serving more than 5,000 institutional clients around the world, recognized for its strengths in fixed income and equity capital markets, investment banking, SPAC underwriting, PIPE placements, commercial real estate, and for its global distribution platform. Capitalizing on the firm's financial acumen and technology prowess, Cantor's portfolio of businesses also includes Prime Brokerage, Asset Management, and other businesses and ventures. For 79 years, Cantor has consistently fueled the growth of original ideas, pioneered new markets, and provided superior service to clients. Cantor operates trading desks in every major financial center globally, with offices in over 30 locations around the world. As one of the few remaining private partnerships on Wall Street, Cantor has the distinct ability to focus on long-term value creation and solid relationship building. Our structure allows us to respond quickly to client needs, develop solutions that address complex challenges, avoid the limitations of bureaucracy, and attract talented individuals who are driven to succeed.
Responsibilities:
Tax Compliance Oversight: Ensure the accurate and timely preparation, review, and filing of partnership tax returns (Form 1065, K-1s) for numerous partnerships, in compliance with federal, state, and local tax regulations.
Tax Allocation and Distribution Management: Supervise the calculation and documentation of tax allocations and distributions among partners, ensuring adherence to partnership agreements and IRS guidelines.
Capital Account Management: Oversee the accurate maintenance and reconciliation of partners' capital accounts, ensuring proper tracking of contributions, distributions, and allocated income/losses.
Impact Analysis for High-Net-Worth Individuals: Assess the tax implications of partnership tax positions on high-net-worth partners, advising on strategies to mitigate tax liabilities and enhance tax efficiency.
Tax Estimation and Planning: Prepare estimated tax calculations for partners, ensuring timely communication of tax obligations and potential liabilities to facilitate partners' financial planning.
Partner Inquiries and Support: Act as the primary point of contact for partner inquiries regarding tax matters, providing clear and timely responses to address concerns and ensure understanding of tax implications.
Collaboration with External Firms: Manage relationships with outside accounting firms that assist with partnership tax compliance, ensuring alignment on compliance processes, strategies, and deliverables.
Audit Management: Assist with the management of tax audits related to partnership returns, coordinating responses to notices and inquiries from tax authorities and maintaining proper documentation for all tax-related matters. (This role will work with the Head of Tax Audit and Controversy.)
Regulatory Compliance Monitoring: Stay informed on changes in tax laws and regulations impacting partnership taxation, adjusting compliance practices and strategies as necessary to maintain compliance.
Team Leadership and Development: Lead and mentor a team of tax professionals, promoting a culture of collaboration, professional growth, and adherence to best practices in tax compliance.
Internal Policy Development: Establish and enforce policies and procedures related to partnership tax compliance, ensuring consistency, accuracy, and adherence to regulatory requirements.
Stakeholder Communication: Communicate effectively with internal stakeholders and external advisors regarding partnership tax positions, strategies, and compliance matters.
Continuous Process Improvement: Identify opportunities for process enhancements within the partnership tax compliance function, implementing best practices to increase efficiency and accuracy in tax return preparation and filing.
Experience:
A minimum of 7-10 years of experience in tax compliance, with a focus on partnership taxation.
Demonstrated experience managing partnership tax returns and compliance for multiple entities.
Technical Knowledge:
In-depth understanding of partnership tax regulations, including IRS guidelines and state tax laws.
Proficiency in tax software and tools relevant to partnership tax compliance.
Familiarity with Alteryx, Microsoft Power Apps Suit (like Power BI) and other automation tools is a strong plus
Certifications:
CPA (Certified Public Accountant) designation is required.
Additional tax-related certifications (e.g., EA - Enrolled Agent) are a plus.
Leadership Skills:
Proven experience leading and managing a team of tax professionals.
Strong interpersonal skills to effectively collaborate with internal teams and external partners.
Analytical Skills:
Excellent analytical and problem-solving skills, with the ability to assess complex tax issues and develop effective strategies.
Communication Skills:
Strong verbal and written communication skills, with the ability to convey technical tax concepts clearly to stakeholders at all levels.
Attention to Detail:
High level of accuracy and attention to detail in all aspects of tax compliance and reporting.
Project Management:
Demonstrated ability to manage multiple projects and deadlines simultaneously in a fast-paced environment.
Regulatory Awareness:
Up-to-date knowledge of changes in tax laws and regulations affecting partnerships and high-net-worth individuals.
Education:
Bachelor's degree in accounting, Finance, or a related field.
Master's degree in taxation or an MBA with a focus on taxation is preferred.
Hybrid Working - We are currently operating a hybrid model for our shared services employees (including this role). We anticipate continuing these arrangements for the foreseeable future with periodic review. Hybrid for Cantor Fitzgerald & its affiliates across the working week, means three days office based and two days remote.
Salary: $175,000 Min - $190,000 Max
The expected base salary for this position ranges from $175,000 to $190,000. The actual base salary will be determined on an individualized basis taking into account a wide range of factors including, but not limited to, relevant skills, experience, education, and, where applicable, licenses or certifications held. In addition to base salary and a competitive benefits package, this position may be eligible for additional types of compensation including discretionary bonuses and other short- and long-term incentives (e.g., deferred cash, equity, etc.).
