CLIENT Our client family is headquartered in the Southwest and is in the process of increasing staffing levels of its existing family office operations and financial management infrastructure. In addition, the family is migrating certain activities from an office located on the East Coast. The family’s wealth is the result of a highly successful business, as well as several real estate development / direct investment ventures. There are also significant ongoing business interests with which the family is actively involved. As a result, the family office has direct oversight for a significant amount of wealth, the management of which is highly complex and involves a large number of sophisticated multi-entity structures. The family office serves three generations of family members, all residing domestically, however several family members have residences located internationally. Having come from humble beginnings, the family values hard work, integrity, honesty and loyalty which they would like to see reflected in the individuals hired into their family office. Core values of self-reliance and entrepreneurship are deeply imbedded in the family’s history, as is the commitment to global philanthropic activities that are manifest primarily through its foundations. The Chief Accounting Officer (CAO) is a role which provides financial management leadership to the family office, as well as supporting the operational needs of the family members served. The family office is functioning well and is comprised of approximately 50 full-time employees, several of whom are located at the East Coast location. The family also utilizes a broad array of external resources including attorneys, investment advisors, tax CPA’s, and consultants. THE OPPORTUNITY In this very impactful role, the CAO will join a dynamic, highly skilled senior leadership team and have primary responsibility for the financial management leadership of the non-investment side of the family office. This will include accounting operations, controls, financial reporting and analytics, budgeting, tax review, treasury and cash management, disbursements, systems, and special projects. In addition, this individual will work collaboratively with the individual overseeing the financial management and reporting of the investment side of the family office. A critical imperative for both of these individuals is the efficient and effective capturing and ongoing transfer of information between their respective areas. This individual will work supportively with family members to provide leadership around new ideas and initiatives to enhance and/or evolve the accounting operations, controls and financial management infrastructure of the family office. Finally, in addition to technical accounting and financial leadership, the family is seeking an individual whose core values are aligned with those of the family and who can help support and maintain these core values within the family office. POSITION SUMMARY Reporting to the designated Family Representative, the CAO will work collaboratively with family members and advisors to solidify the vision as well as the strategic and operational infrastructure for the non-investment side of the family office. The CAO will manage a small team of multiple controllers and staff, provide leadership as the senior most accounting professional within the office, and demonstrate good judgment. In addition, this individual will strive to instill a “best practices” philosophy in all functional areas. Ideally this person would establish a synthesized flow of information, enhance reporting procedures and controls, refine analytics, and strengthen the technical accounting base. Family Office Management • Oversee the day-to-day financial management operations of the family office including accounting, financial reporting and analytics, budgeting, treasury and cash management, disbursements, systems and special projects. • Working in partnership with a highly effective senior leadership team, the CAO will provide ongoing operational and strategic leadership input across the various family office concerns and also provide a comprehensive view of the family’s personal and business affairs through relevant financial and management reporting. • Ensure controls and procedures safeguard assets and proper distribution of funds. • Analyze operational issues impacting the family office and determine their financial impact and any recommendations for improvement. • Hire, manage and mentor staff as needed. Also, develop a plan for ongoing professional development of the staff including himself or herself. Provide cross-training opportunities to ensure flexible staffing. • Plan and facilitate periodic meetings with family members and appropriate advisors, including preparation of materials, as needed. • In collaboration with the Tax Director, serve as primary liaison with external tax advisors and the family’s trust company management team. This includes working with external tax advisors and trust company management on an ongoing basis on tax planning strategies integrated through multiple jurisdictions in which the family is active. Support the tax reporting and compliance for family members, trusts and other legal entities as needed. • Evaluate and periodically review insurance providers and policies to assure that appropriate types and levels of coverage are in place given the needs of the family. • Work in collaboration with personal assistants to family members to ensure that lifestyle management services (estate management, aviation, security, bill pay, etc.) are being effectively provided to the family. Financial Management and Reporting • Work collaboratively with the family, tax advisors and investment advisors to assess the accounting and financial reporting structure, articulate current and anticipated reporting needs, make recommendations for improvement, and oversee the implementation of the same. • Given the size and complexity of the family’s investment and business interests, there is a critical need for an integrated and comprehensive reporting system to capture and manage the complex inflows of data from numerous entities. The CAO will lead this ongoing initiative including system enhancements, software updates and special reporting requests, and leverage internal and external resources as necessary. The reporting system must address the challenges of accommodating the various entities, tax structures and levels of approval. • Develop and/or maintain a reliable cash flow projection and reporting mechanism which includes minimum cash threshold to meet operating needs. • Establish credibility throughout the family office and with family members by providing effective and accurate responses to requests for information, as well as thoughtful solutions to operational or business challenges. • Provide financial input and decision making on issues affecting the organization. • In collaboration with the management team, lead annual financial planning effort. Provide quarterly and annual financial reporting on relevant entities. • Appraise family’s financial position and issue periodic reports related to financial stability, liquidity, and growth. Ensure that family members have accurate and meaningful decision making tools. This is accomplished through the provision of timely and accurate budget analysis, financial reports and financial trends. • Together with the support of other advisors, assist family members with financial planning, insurance, home purchase, tax guidance and other areas as needed. This includes a thorough initial review and annual reviews thereafter regarding suggestions for optimization of family members’ financial planning. • To better support the decision making of the family, the CAO will also develop relevant management reporting to improve both the access to and modelling of this information. Best Practices and Financial Controls • The CAO will be responsible for researching, developing and implementing best practices as they relate to family office operations and financial controls. This will include drafting and rolling out appropriate accounting policies, procedures and controls, many of which exist today. • The CAO will evaluate, strengthen and periodically review the internal control environment to ensure that appropriate processes and procedures are in place to safeguard the integrity and security of all critical functions including, but not limited to, financial management, investments and cash. • Two objectives of this initiative will be to increase the financial reporting quality of the family office to that of a “public company” level, and to be able to have an audit conducted successfully on the books and records of the family office if so desired. Interface with Investment Management • While this role will not directly oversee reporting for the internal investment management function, it will serve as a collaborative interface with the individual in that role. This will involve working to obtain relevant investment information that will be used in providing the family with an integrated comprehensive overview of their financial affairs and keeping them apprised of potential current and future impacts to investments, cash flow and the needs of family members. Foundations • Support the Family’s Foundations and their philanthropic efforts including ensuring compliance with all applicable non-profit laws and regulations, reviewing accounting, reporting, and compliance processes and procedures for effective internal controls, and reviewing financial and investment reports as needed. General Administration • Develop and maintain effective and secure business systems. • Develop and maintain appropriate document retention policies and procedures. • Manage professional service providers and associated budgets. • Manage relationships with outside professionals as appropriate. • Consult with managers of other entities as needed. DESIRED CANDIDATE The ideal candidate will be a discreet, self-driven accounting professional who combines a strong technical accounting and financial reporting background with exceptional financial management and/or “hands-on” controllership experience in a complex corporate environment. This individual will possess strong “practical judgment” skills along with deep proven competencies in financial and operational accounting, business analytics and modelling, computer based accounting systems, team building and leadership. The ideal candidate will possess the following qualifications/characteristics: Skills and Experience: • Bachelor’s degree in accounting and/or finance from a top tier university. • CPA required, MBA highly preferred. • Minimum 15 years of relevant work experience including 8 - 10 years in Big-4 public accounting (audit) and 4 - 6 years in private industry. • Possess exceptional technical accounting and financial reporting skills to aggregate, translate and report on financial information, and to develop meaningful and effective financial reporting and forecasting processes, reports and systems across all organizations and entities. • Practical experience in recruitment, selection, supervision and development of professional and support staff is essential. • Experienced with the implementation and use of computer based accounting and integrated financial reporting systems. Knowledge of Microsoft Dynamics preferred. • Experience in strategic planning, budget preparation and cash flow planning. • General understanding of Federal and State tax law including income, estate and business taxes. • Experience in working with high net worth individuals and family businesses. Essential Characteristics: • Ability to play a key role in the leadership and direction of the family office as it evolves to improve service levels and expand its activities. • Ability and willingness to be a hands-on financial manager in the day-to-day family office operations. • Must have exceptional emotional intelligence, and be a highly skilled communicator and facilitator. • Ability to effectively communicate complex concepts and strategies in a clear and concise manner to a variety of audiences. • Must be self-confident, knowledgeable and able to exercise sound judgment in conducting research, analysis and decision making, and when responsibilities should be outsourced to existing or new service providers/advisors or be done internally. This includes assessing service providers on an ongoing basis to ensure they are acting in the best interest of the family. • Must possess a strong background in computer based accounting systems and bring an exceptional understanding of - and appreciation for - how technology can be used effectively to improve operational efficiency. • Must be highly organized and able to effectively manage multiple priorities simultaneously. • Must be proactive, have a strong sense of urgency, and be comfortable with change. • Must be a confident, self-directed problem solver. • Must be willing to travel as needed. • Must have integrity and be approachable, respectful and instill confidence and trust in their ability to handle complex and sensitive financial and personal information both internally and externally. • Have a strong understanding of and familiarity with best practices in a family office environment related to financial reporting, accounting systems and internal controls. • Must have a high attention to detail. • Must work under the highest degree of confidentiality. LOCATION Main office (location confidential). REPORTS TO This position will report to the designated Family Representative. COMPENSATION An excellent compensation and benefits package will be designed to attract an outstanding individual.