Family Office Job Description
Family Office Duties & Responsibilities
To write an effective family office job description, begin by listing detailed duties, responsibilities and expectations. We have included family office job description templates that you can modify and use.
Sample responsibilities for this position include:
Family Office Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Family Office
List any licenses or certifications required by the position: BLS, CPR, CPA, CMA, CNA, BCLS, ACLS, CPWA, CTFA, MBA
Education for Family Office
Typically a job would require a certain level of education.
Employers hiring for the family office job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Associate Degree in Accounting, Finance, Education, Associates, Business, Taxation, Business/Administration, Management, MBA, Communication
Skills for Family Office
Desired skills for family office include:
Desired experience for family office includes:
Family Office Examples
Family Office Job Description
- Correspondence and communication of information to family members
- Assisting client with maintaining books and records for various entities
- Preparation and review of bank reconciliations, monthly cash flow reports, and financial statements
- Preparing or reviewing reports summarizing investment performance and ensure investment activity is recorded as applicable
- Communicating and coordinating with family members and outside investors, vendors, bankers, insurance brokers, attorneys as appropriate
- Projections, budgeting and other financial analysis as needed
- Assisting in managing adherence to policies and procedures for cash management department
- Direct communication with clients and their advisers
- Strategize with Managing Directors regarding tax planning
- Review complex individual tax returns and related fiduciary, partnership, corporate and foundation returns
- At least 4-7 years of Assistant Relation Manager experience in reputable Private Banking in Singapore
- 3+ years of Family Office and / or Bookkeeping experience
- Previous experience with Cash Management, Financial Reporting / Statement Preparation, General Ledger Implementation, and GAAP
- Numerous intercompany transactions
- Preparation of payroll tax returns (quarterly and annually)
- Reviewing cash management and accounts payable function
Family Office Job Description
- Review term sheets for alternative investments
- Record keeping for investments
- Manage cash flow forecasting for client's portfolio of investments, charitable contributions and personal expenses
- Manage the creation and distribution of GAAP compliant financial statements for client's portfolio of investments
- Management of ongoing ad hoc projects
- Reconciling bank accounts for various checking accounts
- Recording portfolio income and reconciling to monthly investment statements
- Overseeing bookkeeper(s) or junior accountant(s) on account
- Management and maintenance of the company's slide deck, ensuring information on slides is accurate and compliant
- Manipulation of company data in Excel, to produce charts and graphs fit for use in sales presentations and pitches
- Knowledge of variances between GAAP and Tax basis financial statements
- Knowledge of cash vs
- Exceptional proficiency with Microsoft Excel
- Adept at Budgeting and Forecasting
- 5+ years of Family General Accounting experience
- Previous experience with Corporate Accounting, Financial Reporting / Statement Preparation / Systems, General Ledger, Management Reporting, and Month-end Close
Family Office Job Description
- Be the primary value add point of contact for the FOCE segment with sales, sales strategy, PMG, Retail CMMs, product specialists, compliance and marketing services teams
- Management of marketing materials workflow, coordinating projects and managing expectations across the business as to realistic deadlines, knowing when to push back
- Contribution to key sales and client service projects and networking to build relationships within the wider business
- Preparation of quarterly personal financial statements for individual, foundation, entities and trusts (with the respective GL review and entries)
- Assisting with ad hoc modeling, projections and analysis
- Preparing various schedules for client meetings and creating meeting books
- Managing the accounting and invoicing aspects of various aircraft entities
- Managing the accounting and special projects of the art entities and their respective art curators
- Handling all investment documentation and tracking investment data/performance
- Preparation of quarterly/monthly sales tax returns
- Preparation of weekly Investment Committee papers and weekly reporting to the principal
- Financial and management reporting experience
- Ability to provide strategic direction whilst still across the detailed financials
- Bachelor degree in Business Administration or similar degree preferred
- CFP, CPA, and/or MBA a plus, but not required
- A team player with good organisation and communication skills with a desire to learn and grow with the company
Family Office Job Description
- Managing the day-to-day personal finances of client
- Maintain and update client’s records
- Develop system tailored to each client to account for financial transactions by establishing a chart of accounts
- Maintain QuickBooks ledgers for all client entities
- Prepare credit card allocations and reconciliations
- Process bill payments (check, electronic), bank deposits, wire transfers, and invoices
- Provide daily service to clients, their assistants/family/attorneys/agents
- Deal with asset acquisitions and dispositions, closings and new account set ups
- Manage client’s payroll for their office and household employees
- Track residual and fee income payments
- 3+ years of Public Accounting experience within an External Audit or in a Family Office group
- Previous experience with Financial Reporting / Statement Preparation
- Prepare financial reports by collecting, analyzing, and summarizing account information and trends
- Process medical claims and necessary follow up
- Prepare 1099’s and tax reporting for internal tax department
- Previous experience with Bank Reconciliation, Cash Flows, and General Ledger
Family Office Job Description
- Concierge services
- Preparing documentation for new investments
- Working with Principals and Attorneys to review and update corporate structures and some estate planning
- Coordinating travel and accommodations for the senior member of the family provide some concierge services when they are abroad
- Track, record, and negotiate all vendor and service contracts
- Oversee and reconcile all purchases, vendors and service providers
- Work with the Principal, Family Office, and household employees to maintain tight control over all costs
- Input accounts payable and generate checks for signature
- Proactively identify areas for continuous improvement
- Identify issues or areas of concern that require immediate attention
- Where required, discharge fiduciary duties in line with procedures, the relevant documentation and document decision making thoroughly and timely
- Data Faction experience
- CPA required and MST or JD a plus
- Position may be filled as a Sr
- Qualified individuals must either reside in or near the Chicago metropolitan area or be willing to relocate to the area for this opportunity
- Previous experience with Corporate / Partnership Accounting, Domestic Funds, Financial Reporting / Statement Preparation, GAAP, General Ledger, and Month-end Close