Mitsubishi UFG (MUFG) Investor Services (US), LLC is a subsidiary of Mitsubishi UFJ Fund Services and is fully licensed to act as a Fund Administration service provider.
Mitsubishi UFG Investor Services is a global provider of alternative investment services with powerful technology and strong institutional backing. This combination provides the Company with the strength and flexibility to excel as a strategic partner to its clients. Our management team has cumulative experience exceeding 75 years in businesses related to third party financial processing and our staff turnover is among the lowest in the industry. A winning combination of proprietary technology and industry leading vendor based software places us in the position to provide a level of service beyond the reach of much of our competition.
About the Position
We are seeking a Director of Mutual Fund Tax to join our team and work in our Rockville, MD office. The Director of Mutual Fund Tax ensures operational alignment with the tax department and service company goals. The director oversees the work and output of the tax team, including subchapter M compliance testing, year-end tax related disclosures and shareholder reporting, oversight of external service providers, routine and ad hoc reporting, and liaises with senior stakeholders on operational and strategic business matters. The director is responsible for tax department service levels, including timeliness, accuracy, and quality. This is a unique opportunity to join a dynamic, fast growing organization.
Responsibilities (including but not limited to):
- Manage client relationships, ensuring that all statutory and client tax deadlines and service levels are met for a variety of investment products including open- and closed-end mutual funds, exchange-traded funds, variable insurance trust funds, etc.
- Direct operational alignment with department and service company goals; direct departmental change initiatives
- Direct the design and implementation of tax department organization structure and processes; Develop/enhance internal policies, procedures, and automation solutions
- Manage staffing by setting individual and department goals, conducting performance appraisals, approving hiring/firing/promotion decisions, and supervising and professionally developing associates
- Manage departmental budgets; advise on the impact of various factors on service company and/or product revenue and expense
- Direct departmental conformance with the control environment; assist with setting the control environment, including policies, procedures, and best practices
- Direct and be accountable for department performance, including timeliness and accuracy service levels
- Direct the oversight of 3rd party service providers and the coordination of the information flow to/from such service providers
- Serve as primary tax liaison with clients, outside tax advisors, consultants, auditors, and internal departments, including fund accounting, fund administration, and the transfer agent
- Direct the production and review of financial statement tax footnotes and related disclosures for regulated investment companies and year-end shareholder reporting information
- Direct the preparation and review of monthly and quarterly tax compliance, IRC diversification, income tests, etc.
- Direct the oversight of the preparation and review of annual excise and capital gain distribution calculations and federal, state, and excise tax returns
- Monitor book/tax differences related to derivatives, PFICs, wash sales, straddles, contingent debt, equity/debt determination, REITs, partnership accounting, MLPs, capital loss carryforwards, ownership changes, etc.
- Review adequacy of tax provisions for taxable MLP funds
- Direct the production of routine materials, such as board reports, and manage the fulfillment of ad hoc requests for clients and company management
- Monitor industry trends, regulatory events, and emerging tax issues that impact clients’ funds and products
- Serve as an escalation (or entry) point for complex or sensitive issues. Represent the tax department in sensitive matters involving business development, litigation, and operational issues; coordinate special inquiries from auditors, regulators, and other stakeholders
- Coordinate with clients and internal departments to ensure that tax issues, policies, and guidelines are understood and properly implemented
- Support marketing, sales, and pricing of the service company platform and direct onboarding and offboarding of clients, products, and services
- Coordinate among other functions as necessary: transfer agency, compliance, fund accounting, fund administration, audit, middle office, investment management, and third-party pricing and other service providers