Tax Manager, Private Client & Family Office Services

Tax Manager, Private Client & Family Office Services

The Tax Manager, Private Client & Family Office Services manages the full-life cycle of all assigned finance and accounting outsource engagements. Responsibilities include proposal development, staff assignment and oversight, final work product review and overall portfolio financial performance. In addition, the PCS-FOS Manager is responsible for client relationship management, including regularly meeting with the client and assigned staff, reporting financial information and making financial management recommendations, timely billing and resolution of client issues.

In this role, Tax Manager, Private Client & Family Office Services is charged with applying knowledge to understand potential tax issues and recognizing and communicating potential risks and potential changes in the tax policy. In addition, the Private Client & Family Office Manager will be involved in the marketing, networking and business development within an area of expertise and specialization and may be asked to provide written tax advice to clients.

Client Service Delivery :

• Manages the full-life cycle of all assigned engagements by providing technical expertise in all areas within the finance and accounting function :
• Performs complete general ledger reconciliation including the entire balance sheet and applies accounting knowledge by properly recording transactions in a general ledger
• Creates accounting records such as bill payments, client invoices, payroll, and others
• Identifies and records adjustments
• Produces accurate financial statements, and provides financial analysis
• Understands the technology packages clients are using to support their accounting / finance functions :
• Describes the major functions each system performs, and knows how the system performs those functions
• Explains the purpose and value of system functions that a client may not be using
• Identifies when a client is not using a technology package in a proper or efficient manner
• Learns new technology quickly, understands the essence of technologies, how they can be used, how they interact with other technologies and business functions, what the best methods / benefits are for using them, and applies these technologies to an engagement
• Facilitates effective discovery meetings with clients :
• Uses open-ended questions to identify what their objectives are, what financial information they value for management / decision making and why, as well creating a map of their current internal finance and accounting structure
• Designs integrated solutions that respond to the specific situation :
• Knows BDO well enough internally to identify when services outside of PCS-FOS should be included and describes what these services achieve and how they operate
• Outlines the solution in a concise document and vets it internally with their leaders and other BDO stakeholders
• Accurately determines the cost of building a client solution :
• Can calculate the benefit to a client in dollar terms of the solution, using the pricing process
• Compares the differences between the perspectives, and if there is sufficient margin in between (given our confidence in our calculations) to have a profitable engagement, proposes a fixed fee based on current scope for review by leadership
• Works with Senior Managers to learn to formulate recommendations to client leadership on technical accounting issues, financial accounting policies and procedures and financial management issues :
• Educates clients on how their finance and accounting needs will change as their business evolves
• Assists clients identify areas of opportunity and future business needs
• Periodically reviews solutions with their clients to determine if it is still the right solution for the current state of the business and recommends appropriate changes
• Learns to manage conflict; proactively engages senior leadership when conflict arises
• Learns to support the client through business changes and helps to develop and execute the change management plan
• Gathers information necessary from the client to execute on engagements :
• Maintains a running list of information that is needed, and follows up to gather information that is missing
• Organizes information so it is easily accessible for the team and the client as applicable
• Creates, develops and maintains strong business relationships with clients, both internal and external
• Understands tax planning considerations / concepts for various business entities :
• Comprehends the information presented on different tax return forms, analyzes this information to draw conclusions and have an intelligent conversation with clients helping clients navigate business decisions and their potential financial and tax implications
• Appropriately refers tax related matters to Core Tax and Specialty Tax Services

Business Development :

Learning business development strategies and service offerings targeted for various industries

Ensures prospect and sales information is entered into CRM as appropriate

Ability to recommend and design solutions for clients

Learns to evaluate clients for acceptance (e.g. general risk matters, regulations that affect our work, international business, background checks, etc.), and develops statements of work based on solutions they have proposed, with support from leadership

Develops exposure to industry teams and business development resources

Develops an awareness of the impact that different industries and service offerings have on the technical work and final deliverable; participates in industry trade groups and networking events

Listens for and identifies new opportunities with existing clients, and communicates those potential opportunities to leadership

Begins to articulate the Advisory service offerings, as well as the broader firm, to a client, prospect, or contact

Understands and articulates PCS-FOS's value proposition and understands the target market / client profile

Developing Others :

Fosters a culture that embraces change and accountability

Identifies staff needs to develop analytics and forecasting skills at a level where they are capable of interpreting financial results, recognizing trends and gaining insights into business performance improvements

Ensures PCS-FOS Senior Associates and Associates are trained on all relevant software, processes and resources

Acts as a Career Advisor to PCS-FOS Senior Associates and Associates, as appropriate

Evaluates the performance of PCS-FOS Senior Associates and Associates and assists in developing goals and objectives to enhance professional development that aligns with the firm's and PCS's and FOS's objectives

Participates in recruiting efforts for Associates and Senior Associates and assists with the new employee on-boarding process

Serves as a resource for Associates and Senior Associates, while developing an in-depth knowledge and understanding of finance and accounting functions, technology for supporting these functions and how tax planning can differ by industry and business structure

Knows what is required from a compliance perspective and develops an understanding of what is considered a standard or best practice for the industry or business structure

Project Management :

Creates a work plan following best practices of project management (breaking down projects into phases and tasks, estimating time / budget, setting milestones, managing dependencies, and measuring and reviewing progress)

Bills engagements in a timely and effective manner, appropriate to the client's situation and the state of the work; contributes to economic management matters such as forecasting and monitoring / managing to key metrics

Learns to scope a new project and construct a fee estimate / budget that considers all appropriate details, including, but not limited to : architecting, designing and planning / estimating a tailored client solution

Identifies resource requirements and develops transition plans and estimates appropriate margins for the client engagement and the overall picture of the client relationship

Oversees client satisfaction with quality of work products, assigned staff, and engagement performance

Ensures clients are billed timely in accordance with the SOW and follows PCS-FOS billing and collections best practices; works with team to resolve any client billing issues

Tax Related Duties :

Research

Identifies when research is needed; clearly and concisely frames issues to be researched; and clearly and concisely reports the analysis

Applies most Firm and professional standards for preparation and tax returns

Involves firm specialists, as appropriate