Job Description:
Position: Family Office Controller
Employment Type: Full time
Location: New York, NY
Schedule: 4-5 Days in office
Salary: Based on experience
Position Overview: A prominent real estate firm based in New York is looking to hire a Family Office Controller. The Family Office Controller will be responsible for overseeing the financial accounting, investment tracking, and tax compliance functions. The ideal candidate possesses extensive experience in financial management, strong analytical capabilities, and the ability to maintain the highest level of confidentiality and discretion.
Qualifications:
- Bachelor's degree in accounting, finance, or a related field; CPA or CFA designation preferred.
- Minimum of 8-10 years of experience in accounting, finance, or a related role, with at least 3-5 years in a family office, private wealth management, or similar environment.
- Strong background in investment tracking and financial reporting.
- Demonstrated experience in tax compliance and planning.
- Proficiency in accounting software and financial reporting tools; experience with family office systems is a plus.
- Excellent communication and interpersonal skills.
Key Responsibilities:
Financial Accounting and Reporting:
- Maintain and oversee all general ledger accounts, ensuring accuracy and timeliness of financial records.
- Prepare monthly, quarterly, and annual financial statements, including income statements, balance sheets, and cash flow statements.
- Monitor cash flows, prepare cash forecasts, and manage liquidity across multiple accounts and entities.
- Implement and maintain effective internal controls to safeguard assets and ensure accurate financial reporting.
Investment Tracking and Reporting:
- Track and monitor all investment accounts, including public and private equities, real estate holdings, alternative investments, and other asset classes.
- Prepare and present detailed investment performance reports to family members.
- Maintain accurate records of subscription agreements, capital calls, distributions, and valuations.
Tax Compliance and Planning:
- Work closely with the family's accountants to prepare and file all necessary tax returns, including individual, trust, and entity-level filings.
- Ensure compliance with federal, state, and local tax regulations.
- Assist in tax planning strategies to optimize tax efficiency and minimize liabilities.
- Maintain thorough records of tax filings and correspondence with tax authorities.
Budgeting and Expense Management:
- Develop and oversee annual budgets and forecasts for the family office and family entities.
- Monitor and analyze expenditures, providing recommendations for cost savings.
- Ensure timely payment of bills and reimbursements, maintaining detailed records of all transactions.
Risk Management and Compliance:
- Ensure compliance with all applicable regulatory requirements and standards.
- Maintain appropriate insurance coverages.
Systems and Processes:
- Manage the setup and implementation of a new financial software system to improve accounting, reporting, and investment tracking processes.
- Document and update policies and procedures to enhance operational efficiency.
Collaboration and Communication:
- Serve as one of the primary liaisons between the family office and external advisors, including accountants, attorneys, and investment managers.
- Provide regular updates to family members on financial matters, investment performance, and other relevant issues.
- Support special projects and initiatives as directed by the family or family office leadership.