Overview
The Director Of Operations will oversee and manage the day-to-day financial administration, tax and compliance, provider and vendor relations, estate and succession planning, property and philanthropic management, and legal and regulatory compliance for the family office. This role requires a highly organized professional with strong financial acumen and discretion to ensure the seamless execution of operational and financial responsibilities.
Financial Administration
- Budgeting and Cash Flow Management
- Develop and monitor the family's budget, ensuring all expenses are planned and tracked.
- Manage cash flow to ensure liquidity for ongoing obligations.
- Tracking Investment Costs
- Maintain detailed records of investment-related expenses, including fees, taxes, and other costs.
- Provide regular updates on total costs and net returns.
- Investment Reporting
- Compile reports on the family's investment performance by consolidating data from the Chief Investment Officer (CIO) and investment managers.
- Present clear and accurate financial statements and investment summaries to the family.
- Tax Document Coordination (K-1 Follow-up)
- Ensure timely receipt and distribution of K-1 forms and other tax documents to accountants for accurate tax filing.
Tax and Compliance
- Tax Planning and Compliance
- Oversee tax return preparation and filing, coordinating with tax advisors to ensure compliance.
- Review contracts and invoices for accuracy and adherence to legal and fiscal requirements.
- Provider and Vendor Management
- Sourcing and Managing Providers
- Identify and engage service providers, including legal advisors, tax consultants, and financial planners, to support the family's needs.
- Monitor and evaluate provider performance to ensure alignment with expectations.
- Estate and Succession Planning
- Succession Planning and Estate Management
- Maintain detailed records of the family's succession plans, including wills, trusts, and legal structures.
- Ensure estate planning documents are up to date and reflect the family's current wishes.
- Administrative Duties
- Bill Payment and Record Keeping
- Manage the timely payment of invoices and expenses.
- Maintain organized and accurate records of financial transactions and communications.
Property and Philanthropic Management
- Oversee the management of family properties, including bill payments, insurance, and record-keeping.
- Hire and supervise staff as needed for property maintenance and household services.
- Philanthropic Management
- Support the execution of the family's philanthropic initiatives, ensuring proper tracking of charitable contributions for tax purposes.
- Manage the administration of family foundations and charitable trusts.
Legal and Regulatory Compliance
- Ensure family operations comply with relevant laws and regulations.
- Coordinate with legal advisors to address any legal issues.
Coordination and Communication
- Act as the central point of contact for all service providers, ensuring smooth communication and coordination.
- Facilitate communication between family members and external advisors, keeping all parties informed and aligned.
#J-18808-Ljbffr