Family Office Tax Controller

Location: Youngstown, OH
We are seeking a Family Office Controller-Tax position based in Youngstown, OH
As the Family Office Controller-Tax , you will have a crucial role in managing the financial matters of affluent families within a family office environment. This includes responsibilities in financial reporting, tax compliance, investment accounting, and financial analysis, while offering strategic guidance and assistance to ensure the financial well-being and success of the family office and its stakeholders.

The primary responsibility of a Family Office Controller-Tax is to ensure precise and efficient financial reporting, tax compliance, and overall financial management for the family or families they serve. Here is a comprehensive job description for a Family Office Accountant:

  1. Financial Reporting: Prepare and maintain accurate financial statements, including income statements, balance sheets, and cash flow statements. Provide timely and reliable financial reports to the family office stakeholders, such as family members, trustees, and investment managers.

  2. Budgeting and Forecasting: Collaborate with family members and stakeholders to develop annual budgets and financial forecasts. Monitor actual performance against budgeted targets, analyze variances, and provide insights and recommendations for cost management and revenue enhancement.

  3. Bookkeeping and Transaction Management: Oversee day-to-day accounting operations, including accounts payable and receivable, general ledger maintenance, bank reconciliations, and payroll processing. Ensure proper recording and classification of financial transactions and maintain organized and up-to-date financial records.

  4. Tax Planning and Compliance: Coordinate and collaborate with external tax advisors to develop tax strategies and ensure compliance with applicable tax laws and regulations. Prepare and review tax returns, including individual, trust, and corporate returns. Identify tax planning opportunities and advise on tax-efficient strategies.

  5. Investment Accounting: Manage investment accounting processes, including tracking and recording investment activities, monitoring investment performance, and reconciling investment portfolios. Prepare investment reports, including investment performance summaries and capital gains calculations.

  6. Financial Analysis and Reporting: Conduct financial analysis to evaluate investment performance, liquidity, and financial health of the family office. Prepare financial reports and presentations for family meetings, investment reviews, and other decision-making purposes. Provide financial insights and recommendations to help optimize the family office's financial position.

  7. Estate and Succession Planning: Collaborate with estate planning attorneys and trust administrators to support estate and succession planning efforts. Assist in the administration of trusts and estates, including trust accounting, distributions, and compliance with legal and regulatory requirements.

  8. Risk Management: Identify and mitigate financial risks by implementing internal controls, monitoring compliance with policies and procedures, and ensuring data integrity. Recommend improvements to financial systems and processes to enhance efficiency and accuracy.

  9. Collaborative Support: Work closely with other professionals within the family office, such as investment managers, attorneys, and wealth advisors, to provide comprehensive financial support and meet the overall objectives of the family office and its stakeholders.

  10. Professional Development: Stay updated on accounting standards, tax regulations, and industry trends relevant to family office operations.

Basic Qualifications:
  • A bachelor’s degree in accounting or finance is required
  • An MBA or a CPA certification is preferred
  • 5+ years accounting experience; public accounting experience; investment accounting experience · Extensive knowledge of financial spreadsheets and accounting
  • Experience with preparing, reviewing, and filing tax returns and tax forms.
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