Title & description
Chief Financial Officer / President of Family Office
#930 Chief Financial Officer / President needed for a Family Office in Aspen
Salary Excellent salary DOE
Accommodations This is a live-out position
Location Aspen, CO
Chief Financial Officer/President
Company Introduction: Our Client is seeking a Chief Financial Officer/President to join their Family Office within the Greater Aspen, Colorado, area. The Family Office is a twenty-year-old management services and family office organization that supports a wide-range of investment, non-profit, philanthropic and multi-generational Family office services.
Job Introduction: The CFO/President is a key member of the leadership team and will work closely with the Managing Principals. The CFO provides fiduciary oversight for a diverse portfolio of financial interests and, as a financial expert, is responsible for (a) improving upon and overseeing core finance & accounting, and wealth management, tax planning, & risk management processes, (b) providing fiduciary oversight, (c) supporting sound internal financial decision-making, and (d) providing clients (Family members and ventures) with outstanding financial support. The CFO also ensures the effective administration of trusts and provides fiduciary insight and counsel to Family members. As part of this role, the CFO leads a small accounting and administrative team. (Note: Portfolio Management is handled directly by the Managing Principals. However, the CFO/President is responsible for managing the interactions with banks, fund managers, etc., with implementing and maintaining financial controls and administering Family Partnerships, Trusts, etc.)
Key areas of responsibility include:
Accounting & Cash Management • Enhance and implement financial and accounting systems, processes, tools and control systems and ensure maintenance of appropriate internal controls and financial procedures. • Ensure timeliness, accuracy and usefulness of financial and management reporting. • Ensure timely and accurate filing of all tax returns. • Serve as a key point of contact for external auditors; manage preparation and support of all external audits. • Ensure legal and regulatory compliance regarding all financial functions. • Review all month-end closing activities including general ledger maintenance, balance sheet reconciliations and cost allocations.
Financial Planning & Analysis • Manage the annual budget process for all Family households and companies. • Work with the Managing Principals to create an investment portfolio that optimizes returns and risks by incorporating financial objectives, tax consequences and time horizons. • Ensure accurate inputs into the Family’s deliberations in managing overall passive and active investment decisions. Streamline the finances and provide transparency for all beneficiary members by actively managing cash flow decisions and acting as custodian, conscience, advisor and educator. • Provide, maintain, measure, and report on operating budgets for the organization and all affiliated businesses. Lead the finance and accounting team to prepare and maintain regular financial planning reports and forecasts at the consolidated and entity level including sources and uses of cash within and across entities. • Complete analysis of financial results; ensure implications are well-understood (strategic and tactical). • Support decision-making within the organization with practical and rigorous analytics. • Assist in financial and economic due diligence of prospective private equity and venture deals. • Assist Family in the structuring of terms for new and ongoing deals.
Wealth Management, Tax Planning, Investment Strategy & Stewardship, & Risk Management • Drive efficient and effective income and estate tax planning by partnering with accountants, tax advisors and estate attorneys • Manage the process to develop and implement tax-efficient wealth transfer strategies, including trust and entity design. Lead collaborative team with all entities for whole-systems planning. • Ensure liquidity planning and cash management incorporating Managing Principals’ decisions, Family needs and portfolio company requirements. • Optimize risk management strategies, including asset protection, insurance, and investment oversight.
Entity Standards and Oversight • Ensure effective financial planning and management, including budget preparation, cash flow management and re-forecasting. • Ensure appropriate, timely financial compliance and reporting. • Ensure compliance with relevant legal requirements, regulations and minimum standards. • Ensure appropriate and necessary controls are in place and documented so as to pass audit or inspection by any governing body. Develop and maintain systems of internal controls to safeguard financial assets of the organization and its designated affiliates including but not limited to independent auditors and regulatory compliance review. • Ensure effective, efficient processes, systems, tools, and norms related to use of financial information to enable high-performance governance and management. • Ensure timely and accurate disbursement of funds.
Client Service Provision • Provide finance and accounting services such as human resources administration, bill pay, and payroll administration for 15+ employees (Family Office and household). • Support financing and financial operations related to residential holdings, aircraft and acquisitions. • Manage real estate holdings. • Plan and ensure attainment of short- and long-term financial goals and support ventures in achievement of broader strategic and operational goals
•Assist with major purchases such as aircraft and real estate
•Manage business relationships with service providers such as aircraft management companies, lawyers and accountants
•Review contracts with vendors, service providers, banks, brokerages, employees, etc.
•Manage personnel – including recruiting, compensation, benefits, policies and procedures, determining staffing needs, etc. • Ensure all team members bring an outstanding customer service orientation and make the Family Office a pleasure to work with.
Credentials and Experience • 5+ years of a successful track record in the role of Family Office CFO or similar position. Exposure to start-up ventures, corporate debt, philanthropic foundations, and non-profit organizations a plus • Minimum of 10-15 years of experience in at least two of the following: accounting, treasury, tax planning and analysis, compliance. Client-facing experience at a professional services firm highly desired, Big 4 experience a plus • Broad experience or understanding of foundations, trusts and estate various legal entities; S-Corporations, Partnerships, Limited Liability Companies (LLC), Real Estate Partnership, including tax and accounting for such entities. • Bachelor’s degree in Accounting required. CPA and/or JD strongly preferred. Proficient understanding of accounting and tax principles a must. • Experience managing a team including hiring and performance management.
Knowledge and Skills • Budgeting, fiscal management principles and procedures for for-profit and nonprofit entities, or the ability to learn • General understanding of foundations, trusts and estate planning, or the ability to learn • Ability to understand the relationships among various entities • Proficiency with computers and relevant SFO-specific software applications, e.g. QuickBooks,ERP systems, Microsoft Excel, Advent, ATWeb, TNR Solution, Prospero, Spectrum Wealth, etc.
•Proficiency in financial data management