Funds Tax Assistant Manager - Private Markets

Location – London

About Federated Hermes:

Federated Hermes, Inc. is a global leader in active, responsible investment management, with $829.6 billion in assets under management, as of December 31, 2024. We deliver investment solutions that help investors target a broad range of outcomes and provide equity, fixed-income, alternative/private markets, multi-asset, and liquidity management strategies to more than 11,000 institutions and intermediaries worldwide.

Our clients include corporations, government entities, insurance companies, foundations and endowments, banks, and broker/dealers. Headquartered in Pittsburgh, Federated Hermes has more than 2,000 employees in London, New York and offices worldwide. For more information, visit FederatedHermes.com

Main Function of the role:

Federated Hermes Private Markets is looking to recruit a Funds Tax Assistant Manager whose mandate is to service the demands of internal and external stakeholders across closed ended private equity and infrastructure funds. The role covers all fund activity including investment SPVs, Funds and Carried Interest Partnerships.

The tax team works closely with other functional teams, particularly funds finance, investment and legal, as well as various external tax advisors. The team works on certain advisory and structuring projects in addition to their primary responsibility for overseeing all tax compliance matters for the Federated Hermes Private Equity and Infrastructure funds.

The Funds Tax Assistant Manager role is for a recently qualified tax professional who is keen to learn and develop their skills further under the supervision of an experienced Funds Tax Associate Director with experience in US and UK tax.

Key task and responsibilities:

1. Assist the Funds Tax Associate Director with the co-ordination and management of the tax compliance processes including, but not limited to, partnership tax for funds and carried interest vehicles, corporate tax for investment SPVs, FATCA, CRS, and DAC 6 in key relevant jurisdictions including the UK, US, Guernsey, Jersey, Luxembourg ensuring that tax returns are reviewed, finalised, and filed in accordance with agreed processes and deadlines and ensuring tax payments are made in a timely manner.
2. Form a strong day to day relationship with key tax suppliers of compliance and advisory work.
3. Create an efficient working process such that outsourced tax compliance and advisory work is completed on budget.
4. Collaborate with funds finance, external administrators and external tax advisors to keep the UK (or US) compliance calendar on plan. Raise issues promptly with the Funds Tax Associate Director.
5. Perform a detailed review of tax compliance work prepared by external administrators and advisors to ensure we release a high quality and error free work product.
6. Monitor the tax mailbox, responding to stakeholder queries from investors, other Federated Hermes teams and suppliers. Ensure that all queries are responded to or escalated appropriately.
7. Own various trackers, planners and manuals to assist with the Funds Tax Associate Director on oversight of budgets, workflows, and processes.
8. Assist the team with completion of US withholding tax packages. Assist with withholding tax matters and reclaims including liaising with various stakeholders as necessary under the supervision of the Funds Tax Associate Director.
9. Assist the Funds Tax Associate Director on the tax review of investments and divestments made by the funds.
10. Support the tax review of transactions and internal projects coordinating the help of external experts where required.
11. Identify process efficiencies and work with the Funds Tax Associate Director and Funds Finance Associate Director to enhance these processes through the use of technology.
12. Have a clear understanding of operating in controlled environment.
13. Assist with HMRC, IRS, and any other tax authority correspondence to ensure positive working relationships.
14. Keep abreast of all tax developments relevant to the business and working with stakeholders to effect necessary change.

Minimum knowledge & experience required:

1. A professional accounting or tax qualification (such as ACA, CPA or CTA) is essential with 2+ years PQE preferred.
2. Minimum 3+ years of professional experience, with 2+ years being in a funds tax role either in house or in practice with a core component of this role must cover tax compliance.

Experience Required:

1. International tax experience (especially US taxation) is useful but not essential.
2. Excellent IT skills – advanced user of Microsoft Office including Excel, Word, and PowerPoint, with a strong aptitude for learning new IT systems.

Candidate Profile:

1. Self-motivated with an interest in obtaining a broad technical skillset.
2. An appetite to develop and learn new skills.
3. Strong organisational skills with the ability to work on own initiative, manage multiple priorities, work to tight deadlines and to project manage.
4. Self-awareness, sufficient to identify issues and raise these with their line manager.
5. Ability to work effectively and build good working relationships across the business and dealing effectively with staff at all levels and in all business areas including various external advisors.
6. Accurate with keen attention to detail.
7. Strong analytical and communication skills – verbal and written.
8. Keen desire to seek process efficiencies with the utilisation of technology.

Diversity, Equity, Inclusion and Flexible Working

We believe in genuine equality of opportunity, fairness, and respect for all applicants and aim to ensure that no current or prospective employee is subject to discrimination or treated less favourably on the basis of their disability, gender identity or expression, race, ethnicity, religion or belief, marriage or civil partnership, pregnancy and maternity, age, sex, or sexual orientation, or disability.

We understand that applicants may have different needs and expectations related to their working arrangements and are committed to a discussion on flexible working. Please raise these with your Recruitment contact to discuss what type of arrangements can work for you and the role for which you are applying.

We welcome applications from all eligible candidates, and we particularly encourage applications from qualified candidates who identify as women and/or are from a Black, Asian and Minority Ethnic background, as these groups are underrepresented throughout the financial services sector, particularly at senior levels.

We are a Disability Confident Employer and participate in the “Offer of Interview” scheme, intended to actively encourage applications from people with a disability or long-term condition and offer an interview to those who meet the minimum criteria set out within this job description. You will need to let us know if you would like to opt in to this scheme by contacting Jessica Sheehan at Jessica.sheehan@federatedhermes.com or +44 207 702 0888. You do not need to share details of your disability or long-term condition.

If you would benefit from alternative methods of applying or for workplace adjustments during the recruitment process, please also let us know by contacting Jessica Sheehan at Jessica.sheehan@federatedhermes.com or +44 207 702 0888 to discuss the support you need.

Seniority level

Mid-Senior level

Employment type

Full-time

Job function

Finance