CLIENT

Our client family (“Family”) has a well-established single-family office owned and operated solely for members of an ultra-high-net worth, multi-generational family.  Current leadership has been serving the Family for twenty-plus years.

The Family’s wealth is the result of a highly successful business enterprise (ongoing), as well as a significant and diverse portfolio of investment holdings.

The Family spans three generations and has had – and continues to have – active and collaborative involvement by Family members in both the business enterprise in operating and Board roles, and the family office in leadership and advisory roles.

The family office clientele consists of 45 individual family members, and the services provided include operational, financial management, and investment oversight for a large, complex, multi-entity trust and investment structure with more than 150 discrete entities and two large private foundations.

In addition to the family office leadership experience needed for this role, the Family is seeking an individual who aligns with its core values and can help to support and maintain these values.  These core values include respect, integrity, honesty, loyalty, compassion, philanthropy, community engagement, continuous learning and improvement, commitment, empathy, and hard work.

OPPORTUNITY

The Chief Executive Officer (CEO) will report to and interface with the single family member tasked with the oversight of the Family Office and work collaboratively with the existing team to continue solidifying the vision for the family office today and in the future.

The CEO will be responsible for the overall leadership, execution of strategy, and operation of the family office and for the delivery of all services provided to family clients.  In carrying out these responsibilities, the CEO will strive to instill a “best practices” philosophy in all functional areas in order to improve workflow, simplify reporting procedures, and enhance service delivery outcomes.

The CEO will provide ongoing management oversight and/or strategic leadership to the benefit of the team collectively.  And while the current team has functioned well historically, this change in leadership will provide the opportunity to assess and improve the current service delivery model.

In serving as the senior trusted client advisor, the CEO will support the initiatives of the family, individually and collectively.  This support will include providing thoughtful and deliberate guidance on key decisions, serving as a sounding board for many of these decisions, and being available for one-off client requests.

The impact of the CEO role in serving the family as a trusted advisor is profoundly significant and unique.  This family, with its rich history and legacy, is united and aligned around it values, the business enterprise and its history, and the continued stewardship of its wealth.  The family relies heavily on the CEO to provide critical guidance and leadership across generations, making this a hugely meaningful and impactful role for the family.  The CEO works extensively with all family members, each with different needs and different levels of sophistication, requiring a highly individualized approach.

Equally important will be the collegial role that this individual will cultivate with the current CEO, who is retiring so as to assure a comprehensive and effective transfer of knowledge relative to the entire family office service delivery model, as well as to ensure a smooth and orderly transition of leadership for the Family.

Finally, much of this role is about strategic leadership, mentoring, and educating as this individual will work with the Family and family office team to continue to improve and professionalize the service delivery model of the family office structure and to ensure that best practices are achieved while the core values of the Family office are maintained.

POSITION SUMMARY

This role is best described as a hands-on, executive leadership role where responsibilities will span from strategic to consultative to operational to detailed execution and oversight.  Key areas of involvement will include but not be limited to the following:

Family Office Management

• Lead a client-focused culture of collaboration and service excellence; and continue to promote the strong “family based” legacy that has been steeped for decades.
• Oversee the day-to-day operations of the family office including accounting and financial reporting; tax planning, compliance, and reporting; trust administration and oversight; estate planning; treasury, cash management and liquidity planning; oversight of outside financial advisors; risk management; Human Resources; and an array of concierge services.
• Analyze operational issues and provide oversight and recommendations for improvement as needed.
• Provide strategic financial input and leadership on decision making on issues and/or initiatives impacting family members and/or the organization.
• Act as a liaison among the family, family office, and the business enterprise, including working with company management to ensure that enterprise-defining decisions made regarding the business are aligned with family values and needs.
• Hire, manage, and mentor staff and support ongoing professional development initiatives.
• Plan and facilitate meetings with family members.
• Promote a positive image of the Family and family office, by adhering to a high level of professional standards and ethics, demonstrated by professionalism and technical knowledge.
• Support the efforts of the IT service provider to oversee the day-to-day technology and systems operations of the family office.
• Manage all external advisors and vendors on a day-to-day basis to ensure the Family is receiving sound advice and high-quality deliverables for an appropriate fee.

Client Service / Client Relations

• Manage the interpersonal dynamics of a multi-generational family and act as a confidential sounding board.  The current CEO is a single point of connection to the entire family.
• Collaborate with family members on philanthropic endeavors, including large capital projects.
• Estate planning and advising as new family members join through marriage, children, etc.
• Work one-on-one with family members on sensitive, and sometimes highly confidential issues, which can include helping the client see and understand the ramifications of their decisions.
• Educating the younger generation on financial basics, including buying a house, life budgeting, etc.
• Engaging with family members to ensure personalized service levels, while balancing time management constraints.
• Facilitate the evolution of the service delivery model by adopting technology and empowering more employees to be touch points for family members.

Accounting, Reporting & Analysis

• Support the Director of Accounting and Accounting Staff as they provide back-office accounting operations and support services to family clients.
• Lead financial and strategic decision-making initiatives for the organization and for family members and provide rigorous analytics and modeling as needed.
• Provide periodic financial reporting including balance sheet, income, expense, cash reports, analysis and forecasts as needed.
• Discuss accounting issues as needed and provide feedback to the Director of Accounting.

Tax Planning, Reporting & Compliance

• Support the Director of Tax and Tax Staff as they provide in-house tax services to family clients, including the preparation of all family client tax returns.
• Provide ongoing support for tax planning, reporting and compliance for family members, trusts and other legal entities as needed, and work proactively to develop tax-efficient strategies.
• Review many of the more complicated individual, trust, partnership, foundation, gift tax and other returns as needed and provide feedback to the Director of Tax.
• Must have a strong understanding of how the tax planning impacts the tax returns.

Trust and Estate Planning

• Provide management oversight and direct guidance for estate planning and trust administration matters.
• Develop estate planning ideas on an ongoing basis, discuss with family members, and work with family members to execute approved suggestions.
• Serve as primary contact for estate planning attorneys to execute estate planning transactions as needed.
• Oversee the administration, management, and reporting of the trust structures to ensure proper accounting, financial reporting, and compliance.

Investment Management Oversight

• Provide ongoing investment oversight and work collaboratively with investment advisors on the execution of the individual family members’ overall portfolio strategies and support the execution of investment initiatives.
• Attend all meetings with family members and their respective investment advisors, serving as a sounding board / intermediary and providing thoughtful guidance and clarity around investment alternatives, considerations, and outcomes.
• Lead liquidity planning and cash management incorporating anticipated capital calls and distributions and family member needs.
• Lead the ongoing investment of all family members’ commingled cash balances. 
• Collaborate on the expansion of the family’s efforts to diversify its alternative portfolio in private equity and venture capital investing, including all communications with PE and VC funds, creation of new LLCs for each investment, work with investment advisors on annual PE and VC budgeting, and communicate each new investment opportunity with participating family members.
• Support asset dispositions, including private partnerships, private stocks, and public company stock sales.  This includes working with family members, company counsel, transfer agents, and outside counsel.  For some public stock sales, this includes the negotiation, preparation and filing of 10b5-1 plans and SEC filings.

Legal and Risk Management

• In coordination with appropriate outside counsel, oversee legal affairs of the family office, family members, and related entities.
• Direct legal counsel on structures, transactions, and planning as needed.
• Evaluate, strengthen, and periodically review the internal control environment to ensure appropriate processes and procedures are in place to safeguard the integrity and security of all crucial functions including, but not limited to, financial management, investment, and cash.
• Collaborate on the evaluation and review of insurance providers and policies to assure that appropriate types and levels of coverage are in place.

Human Resource Management

• Oversee human capital initiatives with the family office team and with family members’ staff including:
  • Employment practices, policies, and procedures.
  • Employment contracts, terminations, compensation, and employee benefits.
  • Recruiting functions, new hire set up, on-boarding, and performance reviews.

General

• Manage relationships with, and oversee the activities of, outside professionals as appropriate.
• Consult with managers of other entities as agreed upon with family members.

DESIRED CANDIDATE

The successful candidate will be a discreet, self-driven family office executive and/or a tax professional serving ultra-high-net worth clients with strong financial, tax, and business management experience including strong strategic, financial, analytical, operational, leadership skills.  The ideal candidate will possess the following qualifications/characteristics:

Skills and Experience:

• Bachelor’s degree, preferably in business or economics.
• CPA and JD required.
• Extensive executive leadership experience in working with high-net worth individuals and/or complex family-owned businesses.
• Exceptionally strong tax background with “hands-on” knowledge of a diverse range of tax planning and tax compliance issues involving individuals, fiduciaries, investment partnerships, flow-through entities, private foundations, and family wealth management.  Must be proficient in both tax consulting and compliance.
• Extensive knowledge of estate planning is required as this individual will continue to lead the estate planning initiatives for family members.
• Strong accounting and financial reporting skills with an ability to develop meaningful and effective financial reporting processes and systems.
• Must have a solid investment competency and technical foundation for investment analytics.
• Solid experience in strategic planning, budget preparation and cash flow planning.
• Ideally this person would have significant relevant experience working with high-net-worth individuals in a family office leadership role and/or a complex family-owned business coupled with the ability to play a key role in the financial, operational, and strategic leadership as the direction and vision of the family office service delivery model continues to evolve over time.
• Must have the ability and interest to meaningfully work with and support the next generation of younger family members, helping to educate them, guide them, and provide them with tools and decision-making insights with which to navigate their respective landscapes.
• Experience working with and supporting a family through a generational transition of wealth and/or business interest, and/or working with a complex, multi-generational family office model.
• Understanding of and familiarity with best practices in a family office environment related to decision making, governance, and operational structures.

• Understanding of – and appreciation for – how technology can be used effectively to improve operational efficiency.  The IT systems are largely outsourced through an embedded model with the operating company.

• Practical experience in recruitment, selection, supervision, and development of professional and support staff is essential.

Essential Characteristics:

• Must be a self-starter, self-regulating and self-motivated.
• Must work well with little direction or oversight, and not require feedback to be effective.
• Must possess the ability to play a key role in the operational, financial, and strategic leadership of the family office as it continues to evolve and grow over time.
• Must be a strong decision maker and have a track record of taking ownership for driving key initiatives.
• Must thrive in a “check your ego at the door” culture where everyone’s mission is to collaborate and provide exceptional service to the Family.
• Must have good judgment on what is being said and know how to respond appropriately…from listening to agreeing to deferring to disagreeing.
• Ability and willingness to be both “hands-on” and to “delegate when appropriate”.
• Must have an uncompromising commitment to “service excellence”.
• Must have exceptional emotional intelligence.
• Must be a highly skilled communicator and facilitator.
• Must be self-confident, knowledgeable, and able to exercise sound judgment in conducting research, analysis and decision making.  A confident, self-directed problem solver.
• Must consistently operate in a transparent and collaborative manner with a “team first” approach.
• Must be highly organized and able to manage multiple priorities simultaneously.
• Must be proactive, have a strong sense of urgency, and be comfortable with change.
• Must be approachable, respectful and instill confidence and trust in his/her ability to handle complex and sensitive financial and personal information both internally and externally.
• Must have a professional service mindset, an uncompromising commitment to service excellence, strong internal confidence, and a collaborative working style.
• Must have profound integrity, discretion, and patience.

LOCATION

San Francisco.

TRAVEL

Limited travel is anticipated, although some planned travel may be required from time to time.

WORK MODEL

Hybrid with flex.

REPORTS TO
This position will report to the single family member tasked with the oversight of the Family Office.

COMPENSATION
An excellent compensation package will be designed to attract an outstanding individual.