Family Office Job Description
Family office
provides analyses of financial, gift, estate, and income tax issues of high net worth individuals and families.
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:
Manage client administrative services
Execute other client services as needed
Analyze performance of operating entities and/or personal investments
Oversight of foreign reporting entities (real estate)
Analyzing retirement planning and minimum retirement plan distributions, charitable giving calculations, private foundation minimum pay-out, promissory note payment, amortization schedule and tracking the cost basis of investments, and other miscellaneous financial planning projects
Managing various real estate properties and the accounting/finance related matters for each
Execute other client services as needed including but not limited to
Work with client management and staff at all levels to perform tax services
Serving as a Client Relationship Manager for outside investments, including coordination with counsel, financial advisors, banks & lenders
Coordinating matters relating to estate planning, wealth transition
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:
Word
Advisor Services products
Complex subject matters
Excel and PowerPoint
Microsoft Outlook
Services
Trust/banking products and services usually acquired through related work experience to service client and administrative needs
Estate
Gift
Investments
Desired experience for family office includes:
Day to day maintenance of the Solomon accounting system used for most entities handled by the family office
Working with the cash management process for high net-worth clients
Preparing and analyzing monthly and periodic reports for family members, budgets and supporting schedules including maintaining and review of general ledgers
Assisting in financial reporting for clients including cash flow statements, and balance sheets
Preparing and reviewing coding and reports regularly to ensure accuracy and consistency
Recording journal entries for various transactions
Family Office Examples
1
Family Office Job Description
Job Description Example
Our growing company is searching for experienced candidates for the position of family office. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for family office
- 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
Qualifications for family office
- 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
2
Family Office Job Description
Job Description Example
Our innovative and growing company is looking for a family office. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for family office
- 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
Qualifications for family office
- 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
3
Family Office Job Description
Job Description Example
Our company is hiring for a family office. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for family office
- 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
Qualifications for family office
- 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
4
Family Office Job Description
Job Description Example
Our growing company is looking to fill the role of family office. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for family office
- 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
Qualifications for family office
- 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
5
Family Office Job Description
Job Description Example
Our growing company is searching for experienced candidates for the position of family office. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for family office
- 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
Qualifications for family office
- 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