Company Info: New York based Family Office
- Financial and Tax Reporting Activities
- Primary function for approximately 50 entities.
- Review and/or prepare monthly quarterly and/or annual reporting required for family partnerships, LLC’s, individuals, s-corps and trusts.
- Plan, coordinate and review timely journal entries as needed for monthly, quarterly, semi-annual, or annual closings required.
- Prepare trial balances, balance sheets and income statements for Investment Partnerships, S-Corporations, Individuals and Trusts.
- Review and maintain financial, accounting and tax records including:
- Tax work papers and other financial information for accountants to coordinate preparation of tax returns.
- Tax Notices.
- Coordinate annual exclusion gifts.
- Review of draft tax returns for partnerships, trusts, s-corporations, individuals and trusts.
- Tracking of tax basis for investments.
- 1099 vendor identification and preparation.
- Responsible for dividend and tax distributions to partners of related entities.
- Work with Vice Presidents, Directors and Consultants to review and prepare financial documents as needed.
- Work on special projects when needed.
Other financial responsibilities:
- Assist Co-Heads in planning and preparation of short and long term financial, tax and wealth transfer planning strategies in place for family members, trusts, charitable entities, and investment partnerships.
- Support internal auditor to ensure the integrity of accounting information and establish quality control over financial transactions and financial reporting
- Plan, implement and ensure propriety of accounts payable processes and functions for the NYC Family Office:
- Review/Approve payments including wires, ACH payments, credit cards and checks for investment calls/subscriptions, distributions/redemptions, real estate/household income/disbursements, entity dividend and tax distribution allocations and trust annuity payments.
- Ensure open invoices are reviewed and managed for payment.
- Submit weekly and monthly status reports to the family members for household expenses and special projects (i.e. renovations, special events).
- Review and ensure completion of daily/monthly bank reconciliations- approximately 100 accounts.
- Review and ensure completion of daily/monthly brokerage account position reconciliations-approximately 75 brokerage accounts (working knowledge of stock splits and other corporate actions required).
- Assist in developing process to monitor daily cash flows from direct feeds
- Assist in testing and creating process for credit card transactions in new software.
- Review and assist in maintaining current records for all financial transactions including inflows and outflows, receivables, payables, collectibles, jewelry, insurance, investments, charity.
- Prepare cash flow projections, budgets and net worth statements as needed.
- Help maintain/upload updates to market values for entities assigned.
- Work with investment operations team to ensure data is recorded properly for performance calculations.
- Bachelor’s degree in Accounting.
- 6-8 years accounting experience; CPA a plus, Family Office plus, but not required.
- Accounting experience required. Strong Partnership accounting and knowledge of tax basis calculations required (including understanding of nested family entity structure and complex partnership allocations).
- Proficient in Microsoft Office.
- Quick to pick up new technology.
- Excellent written and verbal communication skills.
- Must be able to effectively communicate with all levels of personnel and external contacts.
- Strong organizational skills and self-starter.
- Ability to multi-task.
- Must be able to maintain a high degree of confidentiality, ethics and professionalism
- Ability to work independently and within a fast-paced team environment, emphasizing accuracy and timeliness.
- Diplomatic, tactful and discrete concerning confidential information with unquestionable integrity at all times.
- Ability to physically perform the duties necessary for the job function.