CLIENT

Our client family (“Family”) is headquartered in Chicago and is a well-established, full-service private family office that has been running effectively for many years, providing investment management, trust services and integrated wealth management services to a significant, business owning, multigenerational family.

The Family’s wealth is the result of two highly successful businesses, as well as a significant diverse portfolio of investment and business holdings.

The family office is a “stand alone business model” with effective financial management, operations, client services, technology, and human capital systems…all supported by a well-defined culture and established governance and decision-making oversight from the Family.

In addition to financial management and family office leadership experience, the Family is seeking an individual who aligns with their core values and can help to support and maintain these values.  These core values include integrity, execution, service, innovation and fun.

OPPORTUNITY

Reporting to the President & Chief Executive Officer (CEO), the Chief Financial Officer (CFO) will assume the financial management leadership role of the family office; an office that serves a broad range of family households across complex investment partnerships, trusts, foundations, and private trust company.

The CFO will work closely with the CEO to tailor a personal service delivery approach that supports an effective and productive working relationship that best serves the information, operational, and decision-making needs of the family office.

Critical will be the “trusted advisor like” role that this individual will cultivate with the CEO with a goal of serving as a business confidant; trusted financial and strategic advisor; sounding board; risk manager; and supportive resource to make sure that the family office runs smoothly and effectively as it serves the family.

Additionally, much of this role is about executive leadership, team building, and working thoughtfully, deliberately, and collaboratively with the various finance and accounting teams, as well as the Senior Leadership Team to continue to develop and evolve the family office platform and infrastructure, and then to manage and execute on the same to provide “service excellence” for the family.

The office is a collaborative setting where employees share knowledge and actively participate in projects and discussions across practice areas.  The office offers a dynamic environment with sophisticated technology, numerous complex structures, and many new and ongoing initiatives that will make this leadership opportunity interesting, challenging and rewarding.

POSITION SUMMARY

The CFO will be a key member of the Senior Leadership Team and have responsibility that spans treasury, budgeting, tax, accounting, forecasting, purchasing, real estate, and risk management.

Specific areas of responsibility include but are not limited to leadership over the team of accounting, finance, treasury, reporting, and compliance professionals (“Team”); key strategic initiatives; technology and systems; process improvements; and internal controls.  The Team currently consists of 17 professionals.

The CFO will keep abreast of industry best practices and advise the CEO and family on emerging trends in family office management.

Key areas of responsibility and/or leadership oversight will include, but not be limited to, the following:

• Management & Leadership

o Hire, manage, mentor, train, and develop the Team members…individually and collectively.

o Work collaboratively with the CEO and Senior Leadership Team to reinforce and implement culture enrichment initiatives, as well as training and career pathing opportunities.

o Develop a plan for ongoing professional development of the Team and provide cross-training opportunities to insure flexible staffing.

• Financial Management

o Lead the accounting and reporting Team to oversee accounting operations, reporting, budgeting and analytics for the organization and all affiliated entities.

o Enhance and implement financial and accounting systems, processes, tools, and control systems and ensure maintenance of strong internal controls and financial procedures.

o Work collaboratively with the Team 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.

o Provide periodic financial reporting on expense management, cash reports, analysis and forecasts for investments, and/or special projects as needed.

• Technology & Financial Application Systems

o Play a critical leadership role in the selection and implementation of a new financial application software, which is partially underway.  The CFO will need to get up to speed quickly with this initiative and assume an active leadership role for its successful outcome.

o Stay current with evolving technology and financial application trends relevant to the family office arena.

• Strategic Modelling & Analysis

o Provide strategic modelling capabilities to enable building long-term wealth models that reflect family growth…dividend growth…various investment returns…and policy decisions.

o Manage and enhance internal budgets, annual budget process and variance reporting.

o Support the CEO with financial input, and practical and rigorous analytics to inform decisions and initiatives impacting the organization.

o Design, author and maintain performance dashboards for decision making.

o Create relevant financial models for scenario planning as needed.

o Support the CEO in preparing for, participating in, and presenting at Board and Governance / Committee meetings as needed. 

• Treasury

o Oversee and manage all treasury functions, money movement, and staff.

o Develop and/or maintain reliable cash flow projection and reporting mechanisms which include minimum cash threshold levels to meet the operating needs of entities.

o Support cash management and liquidity planning initiatives incorporating family needs, Investment Committee decisions, family office needs, and Private Trust Company requirements as needed.

• Tax Planning, Preparation and Compliance

o Work supportively with the Tax Manager to drive efficient and effective income and estate tax planning by partnering with outside tax partners and estate attorneys.

o Oversee important tax policy decisions related to Federal and state taxes for all reporting entities in concert with the internal Tax Manager and external tax partners.

o Support the Tax Manager as a key point of contact for external tax partners and attorneys.

o Oversee regulatory compliance and reporting.

• Risk Management

o 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 critical functions including financial management, investments, and cash.

o Evaluate and periodically review insurance policies with outside insurance broker to assure that appropriate types and levels of coverage are in place given the evolving needs of the family.

o Work with third-party consultants to optimize risk management strategies, including asset protection, insurance, cybersecurity, and emergency medical services.

o Work with legal counsel on structures, transactions, and planning on various issues as needed.

o Work collaboratively with the CEO and Senior Leadership Team to support human resources initiatives as needed.

DESIRED CANDIDATE

The ideal candidate is a technical leader, a creative thinker, and a problem solver.  This individual is a discreet, self-driven family office executive with strong financial management experience and a range of different skills including strong strategic, operational, financial, analytical, and leadership skills.  The ideal candidate will possess the following qualifications/characteristics:

• Bachelor’s degree in Accounting and/or Finance; MBA or advanced degree considered a plus.

• CPA highly preferred.

• 15+ years of combined relevant experience in accounting and finance, ideally in family office and/or financial services industries.

• Must bring strong accounting, financial management, and technical reporting skills, and be able to aggregate, translate, and report on financial information to develop meaningful and effective financial reporting and forecasting processes, reports, and systems across all organizations and entities.

• Must have relevant experience working with high-net-worth individuals and/or complex businesses coupled with the ability to play a key role in the operational, financial, and strategic leadership as the direction and vision of the family office evolves over time.

• Must have a solid investment acumen and bring a strong foundation of investment analytics, allocation knowledge, experience with oversight and performance review, and a good familiarity with alternative investments including venture capital, private equity, and real estate.

• Ideally, this individual will have the ability to navigate wealth management and estate planning issues.

• Must have a solid tax conversancy with knowledge of flow-through entities, various trust structures, and transaction structuring (M&A).

• Solid experience in strategic planning, budget preparation, and cash flow / liquidity planning.

• Must possess a strong understanding of – and appreciation for – how technology can be used effectively to improve operational efficiency. 

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

• Must be highly organized, have strong project management skills, the ability to manage and efficiently advance multiple projects and processes both internally and with third-party service providers.

• Well-honed analytical and organizational skills and proactive approach to serving family clients within a multi-disciplinary environment.

• Must be a confident, self-directed problem solver and decision maker with a track record of taking ownership of and 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 be a self-starter, self-regulating, and self-motivated, and must be able to work well with little direction or oversight, and not require feedback to be effective.

• Must be a highly skilled communicator and facilitator with the ability to effectively communicate complex concepts and strategies in a clear and concise manner to a variety of audiences. 

• Must have a service mindset, an uncompromising commitment to service excellence, a strong internal confidence, and possess a collaborative working style.

• Exceptional familiarity with best practices in a family office environment related to decision making, governance, and operational structures.

• Ability and willingness to be both “hands-on” and “delegate when appropriate” in the day-to-day family office operations.

• Must have exceptional emotional intelligence, profound integrity, discretion, and patience.

• 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.

LOCATION

Downtown Chicago.

WORK MODEL

Currently hybrid with some flex…several days in the office.

REPORTS TO

This position will report to the President & CEO.

COMPENSATION

An excellent compensation package will be designed to attract an outstanding individual including base salary, bonus and a meaningful long term incentive plan.