Senior Tax Consultant
Chicago , Illinois
November 21, 2017
Role synopsis
In October 2017, BP's US Pipeline and Logistics business, operating through BP Pipelines North America Inc. ("BP Pipelines") undertook an initial public offering ("IPO") of certain of its pipeline and logistics assets via a Master Limited Partnership, BP Midstream Partners LP ("BPMP").

As a publicly traded partnership, BPMP will have unique tax compliance and reporting obligations unique to such vehicles. In addition, due diligence must be consistently undertaken and documented demonstrating that BPMP continues to qualify under IRS-prescribed safe harbor rules as a publicly traded partnership and not as a corporation. Finally, as a publicly traded company BPMP will be subject to strict US regulatory requirements as to both external reporting and internal controls including controls over BPMP tax matters.

For these reasons, having a dedicated tax resource responsible for BPMP's tax requirements is considered essential in order to ensure strict compliance with both tax and regulatory requirements unique to BPMP. To that end the "MLP Senior Tax Consultant" will be responsible for managing the federal, state, local and foreign tax processes of BPMP and its subsidiaries, undertaking appropriate quarterly qualifying income analysis to ensure BPMP continues to qualify as a publicly traded partnership and being responsible for ensuring a robust internal control environment exists over tax matters impacting BPMP and its LP Unit Holders.

Key accountabilities
  • Oversee the entire tax compliance environment across all tax types impacting BPMP including but not limited to the preparation, recording, review and filing of monthly tax reports and returns for federal, state, local, foreign income and franchise taxes.
  • Reconcile the Company's tax balance sheet accounts.
  • Lead the identification, design and implementation of prioritized tax planning opportunities for BPMP by applying rigorous program management to deliver within set timeframes and to cost.
  • Responsible for protecting value in respect of tax risks through the implementation and operation of appropriate policies, procedures and frameworks.
  • Work with Senior Management and Group Tax to help determine strategic growth initiatives that meet statutory qualifying income requirements and ensure that such strategic growth fits into the overarching tax compliance environment of BPMP.
  • Work with external consultants in establishing tax compliance and schedule K-1 timelines, work plans and deliverables, and assist in completion of auditors' year-end audits.
  • Verify the complete and timely performance of control activities that impact the tax status of the Company and filing requirements. This will include quarterly qualifying income calculations, tax compliance, and tax provision responsibilities. Such internal control oversight will include identifying gaps in controls, identifying solutions to such gaps and ultimately implementing such solutions.
  • Identify and develop process improvements to increase the efficiency of tax processes and enhance future SOX compliance.
  • Prepare supporting schedules, work papers and memorandum to support tax related positions/disclosures in regulatory tax filings, quarterly and annual SEC filings.
  • Work closely and proactively with business partners within the Company to understand business operations, operating systems and the extraction of data in order to timely provide such data to external service providers, convey changing tax needs to our business partners and provide solutions to those changing needs.
  • Identify and research the tax accounting treatment of transactions and new accounts.
  • Analyze the impact to M&A transactions to all stakeholders to ensure company is making the most optimal tax decisions.
  • Work on special projects as needed.

Essential Education
  • Bachelor's degree in accounting or related degree required, with advanced degrees and emphasis in taxation preferred.
  • CPA certification required.

Essential experience and job requirements
  • 10 - 12 years of experience in a multi-state corporate/partnership income tax department and/or Big 4 public accounting.
  • Advanced knowledge of federal and state compliance requirements and associated processes. In addition, advanced knowledge of tax accounting and tax provisioning principles.
  • Experience preparing and/or reviewing ASC 740 work papers, supporting schedules and income tax related financial statement disclosures is preferred.
  • Knowledge of the Federal Energy Regulatory Commission (FERC) regulatory reporting process is preferred.
  • Research skills using various tax services and sources such as CCH, RIA, BNA, etc. is required.
  • Ability to work in a fast-paced, rapidly changing environment, and capable of handling multiple tasks is required.
  • Experience with Corporate and Partnership tax issues related to M&A transactions is preferred.
  • Ideal candidates will be detail oriented, analytical, and adept at solving complex problems.
  • Strong communication and interpersonal skills are required.
  • Proficiency with Microsoft Excel and Word is required.
  • Experience using tax compliance software packages [i.e., One Source] preferred.
  • Experience with SAP primarily as it relates to the extraction and interpretation of financial and tax accounting data.
  • Ability to work independently

Other Requirements (e.g. Travel, Location)
There are no additional requirements. Please respond with N/A below.

Desirable criteria & qualifications
  • Strong leadership, communication, negotiation and accounting skills.
  • Proven ability to lead groups and influence internal and external stakeholders
  • Excellent analytical, organizational and communication skills, including language skills and ability to simplify and communicate complex business information.
  • Superior work ethic with high level of accountability.
  • Strong commitment to the achievement of safe, compliant and reliable operations.
  • Strong commitment to a work environment of mutual trust and respect and where diversity and inclusion are valued.
  • Demonstrate and uphold Values & Behaviours.

Relocation available
Yes - Domestic (In country) only

Travel required
Yes - up to 10%

Is this a part time position?

About BP
Our business is the exploration, production, refining, trading and distribution of energy. This is what we do, and we do it on a truly global scale. BP operates with business activities and customers in more than 80 countries across six continents. Every day, we serve millions of customers around the world. We are continually looking for talented, committed and ambitious people to help us shape the face of energy for the future.

The BP Tax Function seeks to ensure that BP complies with all tax laws in the jurisdictions in which the Group operates, in a way that optimizes the Group's tax position, acting responsibly towards both shareholders and Governments.

We do this by establishing close relationships with the BP Businesses and working collaboratively with other Functions, in particular Finance, Treasury, Legal, M&A, IT&S and HR.

Corporate & Functions

Closing Date
[ "24-Nov-2017" ]

A little about us:
One of the world's leading international oil & gas companies, BP employs over 80,000 talented minds in 80 countries, fostering innovation & diversity.

Know someone who would be interested in this job? Share it with your network.