Wealth Management VP and Controller
Location: Dallas, TX (uptown and onsite)
A prestigious Dallas-based family office is currently seeking a highly skilled Wealth Management VP/Controller to play a pivotal role in managing the comprehensive financial landscape of the family’s wealth portfolio. The ideal candidate will possess a versatile understanding of general business principles, coupled with expertise in various entity structures and investment categories. Key responsibilities will include overseeing general ledger accounting for investment partnerships and multiple generations of the family, managing tax preparation, and reporting investment performance. The successful candidate will have a minimum of 5 years of experience in personal financial accounting, tax, and investments, with prior exposure to family office environments or financial services being advantageous. A family office is a private wealth management advisory firm that serves ultra-high-net-worth individuals.
Reporting directly to the Chief Investment Officer (CIO) and the family, the incumbent will be tasked with administering all facets of accounting and administrative functions. This will involve producing accurate and timely financial reports, maintaining meticulous records of financial transactions related to family investments, and liaising effectively with outsourced service providers. Strong technological proficiency, particularly in QuickBooks and Excel, is essential for success in this role.
Key Duties and Responsibilities:
- From investment management to charitable giving advice, assist the family in overseeing and administering critical financial matters, including cash management, tax compliance, investment evaluation, and insurance management.
- Maintain precise accounting ledgers and prepare consolidated financial statements for all taxable entities and individuals within the family.
- Collaborate on tax matters, ensuring compliance with all relevant regulations and preparing necessary filings for family members, trusts, partnerships, and associated businesses.
- Facilitate record keeping, bank and investment account management, cash flow forecasting, and other essential services for family entities and members.
- Educate next generations in the handling and management of their wealth.
Specific Duties:
- Manage general ledger entries, month-end closings, and reconciliations, presenting comprehensive balance sheet and income statement analyses to the family.
- Analyze financial statements monthly and report on variances.
- Forecast and manage capital calls from external investments, overseeing payment processes.
- Monitor liquidity for illiquid investments and disseminate tax and economic information as required.
- Prepare performance reports for investments and asset classes against benchmarks, calculating key metrics such as LP capital account value and performance.
Skills/Experience:
- Bachelor’s or higher degree in Accounting or Finance; CPA designation preferred.
- Profound understanding of portfolio theory, accounting principles, and internal controls.
- Background in wealth management/financial planning for taxable family clients.
- Experience in estate planning, structuring trusts and foundations for family assets.
- Strong analytical and auditing skills with a minimum of 5 years of finance/accounting experience.
- Proficiency in Microsoft Excel and familiarity with small business general ledger packages; QuickBooks experience is a plus.
- Excellent communication skills with a customer service focus.
