CFO - Single Family Office - The Quest Organization

Chief Financial Officer (CFO) - Single Family Office

Single Family Office located in midtown Manhattan is seeking a Chief Financial Officer. Responsibilities of the office include investing, accounting and tax management, estate planning, charitable giving, banking, and bill pay. The office is both an asset manager and a client-service organization.

Reporting to the CIO, the CFO will be responsible for preparing, analyzing and managing the accounting and financial reporting for a wide range of investments (including public and private equity and credit along with allocations to outside investment managers) held by family-controlled entities that include individuals, trusts and foundations. This position is responsible for ensuring timely and precisely accurate accounting and reporting on both a tax and P&L basis. Responsibilities also include bill pay and a strong focus on tax advice/oversight/management. The office aims to instill a “best practices” approach to process in order to improve workflow, streamline reporting and enhance service delivery to the family.

Responsibilities:

• Oversee the day-to-day operations of the Family Office Finance & Accounting team.
• Oversee the timely and accurate preparation of financial and investment reports including tax reporting and investment P&L.
• Enhance balance sheet/net worth reporting; provide periodic financial reports for assets, cash flow and personal spending
• Oversee tax planning for the Family Office and its members, including both federal and state obligations. Identify and analyze tools for reducing tax liability, including New York PTET structure, management of charitable contributions, management of timing around realizations, etc. Plan for future tax obligations (e.g., estimated payments).
• Contribute original thinking on potentially advantageous structures for the Family Office (Lender’s, insurance wrappers, etc.) in consultation with relevant domain experts.
• Serve as the primary point of contact with outside tax preparers. Assist in information gathering and ensure recommended tax payments and filings are made on a timely basis; review all third-party prepared tax returns.
• Work closely with outside accountants, banks, investment custodians, third-party administrators, attorneys, and systems service providers to achieve various objectives.
• Work closely with external legal and tax teams around estate planning. Oversee implementation and management of structures necessary to achieve estate planning objectives.
• Bill payment and cash management; review check payments, ACH transfers, and bank wires.
• Review new account documents, including bank, brokerage, loan documents, and subscription and legal documents as needed.
• Prepare ad hoc reports by collecting, analyzing, and summarizing data.
• Prepare annual operating budget for Family Office.
• Oversee expense management for Family Office. Look for opportunities to improve operations and reduce costs.
• Supervise, train, and mentor staff.
• Maintain security by enforcing internal controls over cash and investment accounts. Remain current on “best practice” cash and banking security procedures and ensure they are incorporated in Family Office protocols.
• Provide cash management analysis and forecasting.
• Manage charitable giving and pledge obligations/cash flows from Family Office members including multiple foundations. Ensure proper record keeping and reporting.
• Oversee all books and records of the Family Office, including ensuring that all such documents are properly maintained on the centralized server.
• Ensure compliance with all tax, reporting and financial laws and regulations.

Qualifications:

• Bachelor’s Degree with an extended track record of accounting experience, preferably within a Family Office.
• CPA and/or MS, significant tax exposure strongly preferred.
• Strong technical accounting and financial reporting skills (including advanced proficiency in Excel).
• Ability and willingness to be both responsive and proactive.
• Strong attention to detail; highly organized and capable of managing multiple priorities.
• Strong verbal and written communication skills; even tempered with strong listening skills.
• Respectful, honest, discreet, and of high integrity.
• Ability to understand complex matters and explain to family members and office staff.
• Comfortable in a small office environment and possesses an entrepreneurial spirit.
• Experience with one or more general ledger accounting and portfolio accounting systems preferred; capable of overseeing vendor relationships including outside accountants and software/service providers.
• Demonstrated client service mentality.
• Ability to work within a team and to manage the Finance team.
• Ability to manage projects within a tight timeframe; willing to undertake additional responsibilities depending on office workflow.
• Able to rely on sound independent judgment and prior experience in supervising staff in an environment where flexibility and adaptability are required.