Introduction and opportunity

Single Family Office seeks CFO (CPA required) with substantial tax and accounting experience to oversee and manage financial and tax aspects of a complex family enterprise, comprising a private trust company and numerous trusts and business/investment entities. This new position in the family office will provide the opportunity to design, structure, implement and manage (in collaboration with the CIO) investment vehicles and accounting systems and controls, provide comprehensive financial and investment performance reporting, and proactively advise, counsel, educate and collaborate with the family and their entities and professional advisors on financial and tax-related matters.

The family office was embedded within the family’s investment company for nearly two decades. Approximately five years ago, the family office became a separate entity and provides oversight, support and a broad range of services for the entire family enterprise. The office currently has seven employees serving three generations of family members.

Reporting to the CEO of the family office, the CFO will assume the financial management leadership role of the family office, providing oversight and guidance for a diverse portfolio of financial interests and, as a tax, accounting and financial expert, is responsible for:

1. Providing family members and their affiliated trusts and entities with outstanding financial, tax, and accounting  support, counsel, advice, stewardship and education,
2. Developing and overseeing core tax planning & compliance and investment & accounting processes,
3. Providing fiduciary and internal controls oversight,

Preparing comprehensive, transparent and easy-to-understand financial reports.

Location

The family office and various entities are located in Wyoming, Idaho, Utah and other jurisdictions. The CFO’s primary office will be located in Idaho and the CFO must be willing to travel to other states for in-person meetings.

Principal responsibilities

• Provide professional financial services to the family to achieve their goals, including but not limited to developing and reviewing personal financial plans and annual personal financial statements, monitoring each family member’s risk position to mitigate short-term financial exposures and oversee the tax planning, accounting, banking, lending and investments and other business activities of the family.
• Serve as a primary interface for external advisors, including banking, insurance, tax and investment professionals; identify advisor resources for special projects or business ventures desired by family members and serve as office liaison with these advisors.
• Work with each household to structure specific investment objectives and asset allocation plans relative to financial, tax and estate planning goals and risk tolerance.
• Ensure liquidity planning and cash management incorporating family’s investment decisions, family needs and portfolio company requirements.
• Coordinate the preparation of state and federal income tax returns, quarterly estimates and year-end tax planning.
• Serve as an educator and mentor for family members regarding financial planning, education and implementation (e.g., cash management, developing business plans, trust distributions, banking, budgeting, etc.) and provide counsel on wealth planning matters, including capital allocation/diversification strategies, asset protection, wealth creation, and wealth transfer strategies.
• Assist with financial due diligence in connection with broad range of investments, including diversified equity portfolios, fixed income, private equity, and other potential alternative investment opportunities.

Key areas of responsibility

Wealth Management, Tax Planning and Financial Stewardship

• Ensure liquidity planning and cash management incorporating family’s investment opportunities, cash flow needs and portfolio company requirements.
• Optimize risk management strategies, including asset protection, insurance, investment oversight, and mitigation of other types of family risks (e.g., cybersecurity).
• Act as liaison between family and the family's investment company.
• Development and oversight of newly-formed, complex investment vehicles with focus on cash management and capital allocation that meet the family’s and individual member’s goals.
• Drive efficient and effective income and estate tax planning by partnering with tax advisors, estate attorneys and other professionals.
• Manage the process to develop, implement and oversee tax-efficient wealth transfer strategies, including trust and entity design.
• Provide excellent tax and accounting advice to family members.
• Assist in financial and economic due diligence of prospective direct, private equity, real estate and venture investment opportunities.

Accounting & Cash Management

• Design, implement and oversee financial and accounting systems, processes and control systems and ensure maintenance of appropriate internal controls and financial procedures for trusts and entities.
• Ensure timely and accurate delivery of useful financial reports.
• Ensure timely and accurate filing of all tax returns.
• Manage accounting services for family businesses and ventures as needed for various family members.
• Continue to develop and build the financial and supplemental services provided by the family office.
• Oversee and manage all treasury functions and develop and manage banking relationships.
• Develop and/or maintain reliable cash flow projection and reporting mechanisms which include minimum cash threshold levels to meet the needs of the entities.

Financial Planning & Analysis

• Provide, maintain, measure, and report on operating budgets for the organization and affiliated businesses.
• Actively manage cash flow decisions and requirements.
• Develop short-term cash management models in conjunction with long-term capital allocation plan.
• Streamline financial reporting and provide transparency.

Communication and Counsel with Family Clients

• Develop regular communication protocols with family members.
• Provide counsel to family members on tax and financial issues.
• Act as a trusted business confidante; a trusted financial and strategic advisor; sounding board; risk manager; and supportive resource to ensure the family office effectively serves the family.
• Participate in family meetings held throughout the year.

Private Trust Company Administration

• Assist in the administration and oversight of cash management, financial reporting, and investment activities of multiple trusts managed by the PTC.
• Interact with board members, assist with board governance, and provide reporting to the boards.
• Support the CEO in preparing for, participating in, and presenting at board governance and committee meetings as needed.

Team Leadership and Development

• Evaluate the appropriate staffing levels to support the family office, and help develop and lead team of professionals.
• Provide guidance, mentorship, and performance evaluations to team members.
• Foster a collaborative and high-performing culture within the family office.
• Coordinate and manage relationships with external service providers, including tax, legal and other professional advisors.

Requirements

Credentials and Experience

• CPA required. Senior manager/partner-level CPA experience highly desirable.
• 10+ years as CFO in a single-family office preferred.
• 10+ years of experience working for, or as close advisor to, single or multi-family offices or with high-net-worth individuals.
• Broad experience and understanding of complex investment structures, trusts, private trust companies and complex wealth planning structures and tax strategies, and various legal entities including S corporations, partnerships, limited liability companies and real estate partnerships, and tax, accounting and financial reporting for such entities.

Knowledge and Skills

• Ability to advise family members in connection with appropriate diversification and capital allocation to achieve goals relative to risk tolerance; experience with reporting and performance review; understanding of investment vehicles and structures.
• Budgeting, fiscal management principles and procedures for business, investment and trust entities.
• Expert understanding of trusts and estate planning structures.
• Understanding that the family clients are the core of the CFO’s responsibility and service.
• Proficiency with computers and relevant software applications, including ERP systems and financial/investment/accounting systems.

Essential characteristics

• Trust, transparency, integrity, intelligence, discernment, EQ and relational intelligence, and humility.
• Proven leadership skills at an executive level.
• Team player with ability to connect and form meaningful relationships with family office employees and family members.
• Creative with the ability to play a key role in the operational, strategic, and human capital leadership of the family office as it continues to evolve.
• Prudent decision-maker and with track record of taking ownership for and driving key initiatives in a dynamic, service-oriented business model.
• Uncompromising commitment to (a) achieving consistent excellent results and ability to deliver this outcome across a variety of family entities and interests and (b) complete confidentiality and protecting family and family office information.
• Ability to effectively communicate complex concepts and strategies in a clear and concise manner to a variety of audiences.

Compensation

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