The Ascent division of U.S. Bank’s Wealth Management Group exclusively services UHNW clients with net worths in excess of $75MM. The Managing Director, CFO Services will serve as a strategic business planner and subject matter expert for the CFO Services offering within the Wealth Sustainability line of business. As a member of a national team, the MD, CFO Services will provide services to front office MDs of Family Office Advisory and relationship managers, and may from time to time be directly involved in client engagements where he/she can offer specific expertise. The MD, CFO Services will also help develop and refine the Wealth Sustainability platform offered by Ascent. He/she will also provide research and will speak and write on wealth planning related topics.

CFO Services is a subset of Wealth Sustainability that addresses financial oversight, reporting and advice for clients. Specific offerings within CFO Services include: 1) Information Management (investment reporting, including aggregation of accounts across custodians); 2) Net Worth Management (full balance sheet reporting); 3) Cash and Liquidity Management (bill pay, cash flow forecasting and money movement); and 4) Family Office Assessments (review of the practices and procedures of a single family office).

Key responsibilities of the MD of CFO Services include:

• Design of business strategy for the CFO Services offering, collaborating with the regional MDs of FOA and other leaders within the Wealth Sustainability team and Ascent

• Training and education of Ascent personnel about the CFO Services platform

• Development of marketing materials and thought leadership related to CFO Services

• Development of common practices, procedures, report templates and other client deliverables

• Creation of efficiencies, consistency and standardization of CFO services

• Serve as liaison between the Ascent Service Desk (ASD) and regional MDs, FOA

• Maintain intimate knowledge of all CFO Services vendors and tools, including most-importantly the Ascent Reporting vendor

• Periodic check-point reviews for selected reports regularly created by ASD

• Production of selected client reports that are produced on a quarterly or annual schedule (i.e., not monthly Ascent Reporting statements, but less-frequent Almanac or Net Worth Management reports)

• Production of financial and cash flow planning projections and reports for clients, working directly with the regional MD, FOA and other wealth planners within the national Wealth Sustainability team

A CPA license is preferred, but not required, although accounting experience, including production of financial reports for HNW/UHNW clients is required. Additionally, the ideal candidate will have prior experience working for or in family office, working in the accounting or reporting function. He or she would also be familiar with financial and income tax planning and compliance for high net worth individuals, trusts, closely-held businesses, pass-through entities, etc. He or she should also possess general knowledge of estate/gift planning, estate reduction/wealth transfer strategies, and general knowledge of charitable planning strategies.

Qualifications:

• Minimum 7+ years of experience within a wealth management/financial planning firm, public accounting firm, family office or other relevant experience servicing HNW/UHNW clients

• Bachelor’s degree required. Advanced degree or certification preferred (e.g., MBA, CPA)

• Ability to independently analyze, structure, and review financial documents including income statements, balance sheets and tax returns

• Ability to independently address and provide solutions to administrative and tax issues in managing assets subject to such techniques

• Basic knowledge of forming and operating entities typically used for planning purposes including Limited Liability Partnerships, Limited Liability Corporations, C & S Corporations, etc.

• Ability to analyze and provide solutions relative to income, gift and estate planning

• Demonstrated leadership skills

• Strong problem-solving and analytical skills; strong proactive communications skills

• Strong financial modeling and business intelligence skill and experience (e.g., Excel, SQL)

• Significant experience with financial reporting, especially for HNW/UHNW families