Job Details
We are a small, but growing team with a big vision that collaboratively supports the investment, business, philanthropic, and family activities of an entrepreneurial family office. We re looking for an enterprising problem solver who can help us oversee our financial, wealth, accounting, and tax planning needs; be a key partner in our internal financial decision making; and provide visibility and strong controls across our ecosystem.
WALNUT RIDGE
Walnut Ridge coordinates the investing activities, business needs, philanthropic interests, and family activities of a multigenerational family. In this work, we support a mix of private and public market investments, family business and personal interests, and two philanthropic foundations. The family includes three living generations and is committed to generating both financial and societal value near- and longer-term.
We offer a flexible, hybrid environment, and typically spend Monday, Wednesday, and Thursday in the office, which is in Pinecrest, a recently built mixed-use development with upscale shops and restaurants near Beachwood, OH. In this role, you will also work remotely on occasion in person with our teammates in Brooklyn, NY. You would be joining us at an exciting time as we are evolving our organizational infrastructure, investing in our people and systems, and preparing for future growth.
ABOUT THE POSITION
Reporting to the CEO, you will be a valued member of our leadership team, managing the financial and tax aspects of a complex family enterprise which is comprised of numerous trusts, a large operating company (the financials of which are outside of this scope), and various other business and investment interests and entities. This role will work closely in collaboration with the family office CEO to design, structure, and manage information systems and controls, oversee investment vehicles, provide comprehensive financial and investment performance reporting and advice, counsel family members and their affiliated trusts and entities on financial and tax-related matters, work closely with outside advisors, interact with the operating company team on tax matters that impact shareholders, and manage a small accounting team.
KEY AREAS OF RESPONSIBILITY
Financial, Tax, and Wealth Management Planning
- Provide professional financial services to the family to achieve their goals, including but not limited to developing and reviewing personal financial plans and annual personal financial statements, monitoring each family member s risk position to mitigate short-term financial exposures and oversee the tax planning, accounting, banking, lending, and investments and other business activities of the family.
- Interface with external advisors, including banking, insurance, tax, and investment professionals; optimize the mix of what is done in-house and outsourced to advisors; identify advisor resources for special projects or business ventures desired by family members and serve as office liaison with these advisors.
- Ensure liquidity planning and cash management incorporating family s investment decisions, family needs, and portfolio company requirements.
- Serve as a translator of complex concepts for family members regarding financial planning, education, and implementation (e.g., cash management, developing business plans, trust distributions, banking, budgeting, etc.) and provide counsel on wealth planning matters, including capital allocation / diversification strategies, asset protection, wealth creation, and wealth transfer strategies.
- Oversee and manage all treasury functions and develop and manage family office banking relationships.
- Drive efficient and effective income and estate tax planning and ensure accurate tax reporting by partnering with tax advisors, estate attorneys, and other professionals.
- Manage and oversee the tax planning and compliance functions (guided by outside tax advisors) related to the Family Office and related entities, and ensure tax efficiency and optimization of the structure, including assessing industry best practices and implementing changes for improvements to current processes.
- Coordinate the preparation of state and federal income tax returns, quarterly estimates, and year-end planning in concert with external tax advisors.
- Provide excellent tax and accounting advice to family members.
- Apply knowledge to understand potential tax issues, recognize potential risks and upcoming changes in tax laws and communicate to firm management to facilitate decision making.
- Optimize risk management strategies, including asset protection, insurance, investment oversight, and mitigation of other types of family risks (e.g., cybersecurity).
- Liaise with trustees in administering trusts and ensure compliance with and integrity of all related governance needs.
Accounting and Reporting
- Implement, and oversee financial and accounting systems (we are currently midstream in process of converting to Sage Intacct), processes and control systems, and ensure maintenance of appropriate internal controls and financial procedures for trusts and entities.
- Manage and protect manage assets and interests by managing partner relationships, vendors, and other third-party interactions, bringing external advisors and experts to support investment and financial activities on an as needed basis.
- Develop and / or maintain reliable cash flow projection and reporting mechanisms which include minimum cash threshold levels to meet the needs of the entities.
- Provide fiduciary and internal controls oversight.
- Prepare comprehensive, transparent, and easy-to-understand financial reports.
Systems and Operational Infrastructure
- Drive effectiveness of, manage, and provide oversight of a small team of accounting professionals who support and deliver finance, accounting, and tax services to the family, including the execution of day-to-day financial transactions and periodic preparation, analysis & reporting of the financials.
- Proactively identify needs and propose solutions to successfully complete projects on time with tremendous collaboration and time constraints.
- Review and develop regular reporting tools for the clients to understand liquidity, asset allocation, investment performance, spending, and cash flow.
REQUIRED SKILLS & EXPERIENCE
Credentials and Experience
- Bachelor s degree in finance / accounting or related field of study. CPA, CFP, MBA or other advanced degree preferred.
- 5+ years of experience working for, or as a close advisor to, a family office or with mid-sized family-owned private companies. Exposure to philanthropic foundations and non-profit organizations is a nice-to-have.
- Minimum 10-15 years of experience in at least two of the following: tax, legal, treasury, financial planning, compliance, and analysis. Client-facing experience at a professional services firm highly desired.
- Broad experience in or understanding of foundations, trusts, estate, and various legal entities including s-corporations, partnerships, limited liability companies, real estate partnerships, including tax and accounting for such entities.
- Experience managing people, including hiring and performance management.
- Proficiency in accounting systems (experience with integration with Sage Intacct preferred) and Microsoft Excel.
Key Skills, Abilities and Attributes
- Innovation and creativity, always striving to improve efficiency and quality of services.
- Possess exceptional interpersonal and communication skills, both verbal and written.
- Foster effective teams and be a proven leader (managing and developing junior professionals).
- Flexibility and demonstrated resiliency in a high demand environment.
- Superior attention to detail and accuracy. Ability to logically and methodically solve difficult problems with effective solutions.
- Sound judgment and the ability to maintain absolute discretion and confidentiality.
- Ability to predict future needs and proactively take action to address.
- Outstanding prioritization skills and a drive to understand the importance and time sensitivity of tasks while not letting things fall through the cracks.
- A willingness to perform not only accounting work, but also other services typical of a Family Office.
- Understanding of direct investments and various investment structures
- Individual financial planning and education coordination
WHY THIS ROLE IS COMPELLING
Working directly with a small-but-mighty team, you will be exposed to an unusually wide range of people and issues and to the infrastructure and operations of a thriving family office environment. We invest in our people and strive to provide a unique sense of personal and professional fulfillment that comes from working with a purpose driven enterprise.
We provide an outstanding benefits package including medical, dental, vision, disability, and life insurance coverage, 401(k), health and/or flexible savings account, paid vacation, and an exceptional work environment.
Walnut Ridge prioritizes an equitable and inclusive work environment and seeks a diverse applicant pool. Walnut Ridge does not discriminate based on race, color, religion, sex, gender identity, sexual orientation, national origin, age, disability, or genetic information.