Managing Director, Family Office Services
BDO USA, LLP, San Jose, California, United States, 95123
Job Summary
Job Summary:
The Tax Managing Director, Private Client & Family Office Services (PCS-FOS) provides overall direction and oversight for the PCS-FOS Practice, including business development, practice development and client management. This role collaborates with firm leadership on the overall approach and direction of the PCS-FOS Practice to ensure consistency with the firm’s philosophy. The PCS-FOS Managing Director applies educational background, experience and industry knowledge to client work and is a critical part of the office's/region's leadership team. The Managing Director leads and reviews the results of financial and advisory services of a given client engagement, is involved in supervision, ig-picture problem solving and scheduling client projects to the appropriate personnel, and is responsible for developing and mentoring PCS-FOS management and staff. The role also covers marketing, networking and business development, maintaining key client relationships, and advising on key financial and non-financial performance measures, formulating strategy plans, and answering complex financial questions. The Managing Director applies experience and knowledge of business processes to improve client internal controls and accounting procedures through process improvement suggestions.
Learn more about the general tasks related to this opportunity below, as well as required skills. Job Duties: Client Service Delivery
Oversees the full-life cycle of all assigned engagements by providing technical expertise in all areas within the finance and accounting function Identifies opportunities for technological and process improvements to the practice's service offerings Constructs business cases, develops technical arguments, and persuades leadership on adopting the new approach Implements approved changes effectively across the full practice Facilitates effective discovery meetings with large and complex clients; uses open ended questions to identify objectives, valued financial information for management/decision making, and maps current internal finance and accounting structure Searches for root causes and does not take information at face value; understands the complexity that can lie behind data Designs integrated solutions for large and complex clients that respond to the specific situation; open to new ideas and solutions, and avoids locking-in to a single solution; knows BDO well enough internally to identify when services outside of PCS-FOS should be included and describes what these services achieve Outlines the solution in a concise document and vets it internally with leaders and other BDO stakeholders Accurately determines the cost of building out a solution Calculates the benefit to a client in dollar terms of the solution Uses the pricing process and understands how to price an engagement to ensure it is profitable; proposes a fixed fee based on current scope and reviews the engagement economics on an ongoing basis to ensure profitability Advises client leadership on technical accounting issues, financial accounting policies and procedures, and financial management issues Uses broad financial, accounting, business, and industry knowledge to educate clients on evolving needs as their business grows; helps clients identify next steps and persuade the client to value those unperceived needs Identifies critical vs. non-critical needs; considers the client holistically Periodically reviews solutions with clients to ensure it remains appropriate for the business state Develops a compelling future vision for a client; communicates to inspire advancement; proactively mitigates conflict Uses negotiation techniques to drive difficult agreements between opposing parties and leaves parties satisfied with the result Business Development
Responsible for achieving business development goals by developing and executing strategies and service offerings targeted for various industries Maintains a sales pipeline of at least two times the business development goal; ensures prospect and sales information is entered into CRM as appropriate Participates in the roadmap/strategic planning process Refines designed solutions and work plans into a compelling proposal document that speaks the client language and identifies value Manages the proposal process and negotiates contract terms and conditions to be incorporated into the statement of work Evaluates clients for acceptance (e.g., risk matters, regulations, etc.) and reviews/approves statements of work Delivers industry resource expertise and leverages relationships to execute on opportunities Integrates firm industry expertise into personal business development plan Cross-sells to existing clients and identifies new prospects Explains Firm and Advisory service offerings to clients, prospects or contacts Develops relationships with local BDO Alliance firms; participates in alliance meetings and forums, presenting PCS-FOS and BDODrive offerings Developing Others
Fosters a culture that embraces change and accountability Ensures PCS-FOS team members are trained to perform analytics and forecasting to interpret financial results, recognize trends and gain insights Ensures PCS-FOS department is trained on relevant software, processes and resources Acts as career advisor to PCS-FOS management and staff; supports professional growth Evaluates the department’s performance and develops goals aligned with firm objectives Monitors and recommends staffing levels Serves as a resource with deep knowledge of finance and accounting functions, technology, and client industry considerations Practice Management/Administration
Is the visionary leader for their practice area, articulating goals and their impact on the business Defines dependent projects to reach goals; focuses on strategy and implementation Ensures all engagements are billed and collected in a timely and effective manner; monitors billing activity Aims for DSO metrics Understands practice P&L and common metrics; acts as a business owner Weighs costs and ROI to make financial decisions on expenses, billing and staffing Develops strategic plans with other practice leaders Accurately scopes new projects for large/complex clients and constructs fee estimates/budgets Identifies resource needs and transition plans with margins in mind Monitors Net Promoter Scores and explores ways to improve client service Reviews engagement economics to improve KPI performance Develops plans and forecasts for the practice area and manages the lifecycle from forecasting through collections Tax Related DutiesResearch
Identifies when research is needed; frames issues clearly and reports analysis Identifies complex issues for research by the engagement team and provides methodology Strategy Development
Introduces and develops ideas to improve client, Firm, or personnel positioning (e.g., tax reduction, cost-saving, non-tax benefits); may include presenting complex strategies to clients Other Duties
Travels up to 25% of the time Other duties as required Supervisory Responsibilities
Guides and supervises all PCS-FOS personnel Qualifications, Knowledge, Skills and Abilities
Education: One of the following is required: Bachelor's degree, focus in Accounting or Finance, preferred AND ten (10) or more years of experience performing general accounting transactions and functions, xsgimln required; OR Twelve (12) or more years performing general accounting transactions and functions with some supervisory and consultative or business advisory experience without a degree, required MBA or other relevant advanced degree (Masters in Accountancy), preferred Experience: Six (6) or more years of supervisory experience, required Consultative or business advisory experience, required Experience working with outsourced and/or delivery center operations, preferred License/Certifications: CPA certification, preferred Software: Proficient in the Microsoft Office Suite (Excel, Word, PowerPoint) required Experience with accounting software and BDODrive (e.g., QuickBooks Online, Microsoft NAV, ) preferred Experience with accounting research tools, preferred SEI Archway and Qvinchi, preferred Language: N/A Other Knowledge, Skills & Abilities: Excellent verbal and written communication skills Comfortable with ambiguity and ability to create clarity when possible Takes accountability for work products; accepts feedback Knows compliance requirements and industry standards Understands finance and accounting functions for large/complex clients and best practices Presents with competence and confidence to varied audiences; persuades others; adaptable Strong analytical and research skills GAAP and TAX knowledge, financial statement presentation and report writing Strong organizational skills and ability to meet deadlines Capable of managing multiple projects and staff in a demanding environment Direct and prioritize multiple teams on engagements Manages relationships for large/complex clients Capable of developing assigned personnel Strategically identifies relationships at BDO to support business; builds rapport and educates others on practice value Ability to travel up to 25% of the time Individual salaries are determined based on qualifications, experience, skills, and geography. Colorado Range: $170,000 - $225,000; Illinois Range: $140,000 - $190,000; Maryland Range: $185,000 - $260,000; Massachusetts Range: $215,000 - $300,000; Minnesota Range: $130,000 - $190,000; New Jersey Range: $190,000 - $350,000; NYC/Long Island/Westchester Range: $230,000 - $350,000; Washington DC Range: $190,000 - $300,000
Job Summary:
The Tax Managing Director, Private Client & Family Office Services (PCS-FOS) provides overall direction and oversight for the PCS-FOS Practice, including business development, practice development and client management. This role collaborates with firm leadership on the overall approach and direction of the PCS-FOS Practice to ensure consistency with the firm’s philosophy. The PCS-FOS Managing Director applies educational background, experience and industry knowledge to client work and is a critical part of the office's/region's leadership team. The Managing Director leads and reviews the results of financial and advisory services of a given client engagement, is involved in supervision, ig-picture problem solving and scheduling client projects to the appropriate personnel, and is responsible for developing and mentoring PCS-FOS management and staff. The role also covers marketing, networking and business development, maintaining key client relationships, and advising on key financial and non-financial performance measures, formulating strategy plans, and answering complex financial questions. The Managing Director applies experience and knowledge of business processes to improve client internal controls and accounting procedures through process improvement suggestions.
Learn more about the general tasks related to this opportunity below, as well as required skills. Job Duties: Client Service Delivery
Oversees the full-life cycle of all assigned engagements by providing technical expertise in all areas within the finance and accounting function Identifies opportunities for technological and process improvements to the practice's service offerings Constructs business cases, develops technical arguments, and persuades leadership on adopting the new approach Implements approved changes effectively across the full practice Facilitates effective discovery meetings with large and complex clients; uses open ended questions to identify objectives, valued financial information for management/decision making, and maps current internal finance and accounting structure Searches for root causes and does not take information at face value; understands the complexity that can lie behind data Designs integrated solutions for large and complex clients that respond to the specific situation; open to new ideas and solutions, and avoids locking-in to a single solution; knows BDO well enough internally to identify when services outside of PCS-FOS should be included and describes what these services achieve Outlines the solution in a concise document and vets it internally with leaders and other BDO stakeholders Accurately determines the cost of building out a solution Calculates the benefit to a client in dollar terms of the solution Uses the pricing process and understands how to price an engagement to ensure it is profitable; proposes a fixed fee based on current scope and reviews the engagement economics on an ongoing basis to ensure profitability Advises client leadership on technical accounting issues, financial accounting policies and procedures, and financial management issues Uses broad financial, accounting, business, and industry knowledge to educate clients on evolving needs as their business grows; helps clients identify next steps and persuade the client to value those unperceived needs Identifies critical vs. non-critical needs; considers the client holistically Periodically reviews solutions with clients to ensure it remains appropriate for the business state Develops a compelling future vision for a client; communicates to inspire advancement; proactively mitigates conflict Uses negotiation techniques to drive difficult agreements between opposing parties and leaves parties satisfied with the result Business Development
Responsible for achieving business development goals by developing and executing strategies and service offerings targeted for various industries Maintains a sales pipeline of at least two times the business development goal; ensures prospect and sales information is entered into CRM as appropriate Participates in the roadmap/strategic planning process Refines designed solutions and work plans into a compelling proposal document that speaks the client language and identifies value Manages the proposal process and negotiates contract terms and conditions to be incorporated into the statement of work Evaluates clients for acceptance (e.g., risk matters, regulations, etc.) and reviews/approves statements of work Delivers industry resource expertise and leverages relationships to execute on opportunities Integrates firm industry expertise into personal business development plan Cross-sells to existing clients and identifies new prospects Explains Firm and Advisory service offerings to clients, prospects or contacts Develops relationships with local BDO Alliance firms; participates in alliance meetings and forums, presenting PCS-FOS and BDODrive offerings Developing Others
Fosters a culture that embraces change and accountability Ensures PCS-FOS team members are trained to perform analytics and forecasting to interpret financial results, recognize trends and gain insights Ensures PCS-FOS department is trained on relevant software, processes and resources Acts as career advisor to PCS-FOS management and staff; supports professional growth Evaluates the department’s performance and develops goals aligned with firm objectives Monitors and recommends staffing levels Serves as a resource with deep knowledge of finance and accounting functions, technology, and client industry considerations Practice Management/Administration
Is the visionary leader for their practice area, articulating goals and their impact on the business Defines dependent projects to reach goals; focuses on strategy and implementation Ensures all engagements are billed and collected in a timely and effective manner; monitors billing activity Aims for DSO metrics Understands practice P&L and common metrics; acts as a business owner Weighs costs and ROI to make financial decisions on expenses, billing and staffing Develops strategic plans with other practice leaders Accurately scopes new projects for large/complex clients and constructs fee estimates/budgets Identifies resource needs and transition plans with margins in mind Monitors Net Promoter Scores and explores ways to improve client service Reviews engagement economics to improve KPI performance Develops plans and forecasts for the practice area and manages the lifecycle from forecasting through collections Tax Related DutiesResearch
Identifies when research is needed; frames issues clearly and reports analysis Identifies complex issues for research by the engagement team and provides methodology Strategy Development
Introduces and develops ideas to improve client, Firm, or personnel positioning (e.g., tax reduction, cost-saving, non-tax benefits); may include presenting complex strategies to clients Other Duties
Travels up to 25% of the time Other duties as required Supervisory Responsibilities
Guides and supervises all PCS-FOS personnel Qualifications, Knowledge, Skills and Abilities
Education: One of the following is required: Bachelor's degree, focus in Accounting or Finance, preferred AND ten (10) or more years of experience performing general accounting transactions and functions, xsgimln required; OR Twelve (12) or more years performing general accounting transactions and functions with some supervisory and consultative or business advisory experience without a degree, required MBA or other relevant advanced degree (Masters in Accountancy), preferred Experience: Six (6) or more years of supervisory experience, required Consultative or business advisory experience, required Experience working with outsourced and/or delivery center operations, preferred License/Certifications: CPA certification, preferred Software: Proficient in the Microsoft Office Suite (Excel, Word, PowerPoint) required Experience with accounting software and BDODrive (e.g., QuickBooks Online, Microsoft NAV, ) preferred Experience with accounting research tools, preferred SEI Archway and Qvinchi, preferred Language: N/A Other Knowledge, Skills & Abilities: Excellent verbal and written communication skills Comfortable with ambiguity and ability to create clarity when possible Takes accountability for work products; accepts feedback Knows compliance requirements and industry standards Understands finance and accounting functions for large/complex clients and best practices Presents with competence and confidence to varied audiences; persuades others; adaptable Strong analytical and research skills GAAP and TAX knowledge, financial statement presentation and report writing Strong organizational skills and ability to meet deadlines Capable of managing multiple projects and staff in a demanding environment Direct and prioritize multiple teams on engagements Manages relationships for large/complex clients Capable of developing assigned personnel Strategically identifies relationships at BDO to support business; builds rapport and educates others on practice value Ability to travel up to 25% of the time Individual salaries are determined based on qualifications, experience, skills, and geography. Colorado Range: $170,000 - $225,000; Illinois Range: $140,000 - $190,000; Maryland Range: $185,000 - $260,000; Massachusetts Range: $215,000 - $300,000; Minnesota Range: $130,000 - $190,000; New Jersey Range: $190,000 - $350,000; NYC/Long Island/Westchester Range: $230,000 - $350,000; Washington DC Range: $190,000 - $300,000