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.

Job Duties:

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
• Handles full-life cycle of all assigned engagements by providing technical management for all areas within the accounting function
• 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

Strategy Development

• Introduces and develops new or improved ideas to improve the position of clients, the Firm, or Firm personnel, e.g., by reducing taxes or expenses or providing non-tax benefits.
• Identifies and leverages lessons learned on prior projects, and offers input on how to improve processes and methods

Other Duties:

• Travels up to 20% of the time    
• Other duties as required

Supervisory Responsibilities:

• Supervises associates and senior associates on all projects
• Reviews work prepared by associates and senior associates and provide review comments
• Trains Associates and Seniors how to use all current software tools
• Acts as a Career Advisor to associates and senior associates
• Schedules and manages workload of associates and senior associates
• Provides verbal and written performance feedback to associates and senior associates

Qualifications, Knowledge, Skills and Abilities:

Education:

One of the following is required:

• Bachelor’s degree, focus in Accounting or Finance, preferred AND six (6) or more years of experience performing general accounting transactions and functions, required; OR  
• Seven (7) 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:

• Two (2) or more years of supervisory experience, preferred
• Experience working with outsourced and/or delivery center operations, preferred
• Consultative or business advisory experience, preferred

License/Certifications:

• CPA certification, preferred

Software:

• Proficient in the use of Microsoft Office Suite, specifically Excel, Word, and PowerPoint, required
• Experience utilizing industry standard accounting software and BDODrive platform software such as Intuit’s QuickBooks Online (QBO), Microsoft NAV and Bill.com, preferred
• Prior experience utilizing industry recognized accounting research tools, preferred
• SEI Archway and Qvinchi, preferred

Language:

• N/A

Other Knowledge, Skills & Abilities:

• Excellent verbal and written communication skills
• Understands the finance and accounting functions generally performed by a business (e.g. sales, purchasing, A/R, etc.) and common best practices/processes for how they operate, as well as how they interact
• Understands other business imperatives/functions (e.g. data security, internal controls, etc.) and how they can affect the finance and accounting functions; uses this knowledge to analyze the current structure of a client and identify what services or processes may be inefficient or missing and where we can add value
• Ability to present well in one-on-one and small group settings
• Ability to present well to all levels of management, internally and with clients; projects confidence and expertise; communicates in a clear and concise manner that emphasizes key points; persuades others to their points of view; self-aware – knows when an approach is not working and can change course immediately
• Takes personal accountability for work products and accepts constructive feedback to guide future actions
• Strong analytical and basic research skills
• GAAP and TAX knowledge, financial statement presentation, and report writing
• Solid organizational skills especially the ability to meet project deadlines with a focus on details
• Proven ability to work in a deadline-driven environment and handle multiple projects simultaneously, while focusing on quality, customer satisfaction and service delivery
• Ability to successfully manage multiple tasks while working independently or within a group environment
• Ability to act as the primary contact on assigned engagements and effectively manage a team of professionals including delegating work assignments as needed
• Ability to effectively manage a team of professionals and contribute to the professional development of assigned personnel, while delegating work assignments as needed
• Interacts effectively with people at all organizational levels of the firm as well as the capability to build and maintain strong relationships with internal and client personnel
• Ability to travel up to 25% of the time

Individual salaries that are offered to a candidate are determined after consideration of numerous factors including but not limited to the candidate’s qualifications, experience, skills, and geography.

• National Range:  $90,000 - $125,000
• Colorado Range:  $95,000 - $125,000
• Maryland Range:  $113,000 - $120,000
• Massachusetts Range:  $120,000 - $127,000
• New Jersey Range:  $115,000 - $140,000
• NYC/Long Island/Westchester Range:  $125,000 - $160,000
• Washington DC Range:  $120,000 - $140,000

About Us

Join us at BDO, where you will find more than a career, you’ll find a place where your work is impactful, and you are valued for your individuality. We offer flexibility and opportunities for advancement. Our culture is centered around making meaningful connections, approaching interactions with curiosity, and being true to yourself, all while making a positive difference in the world. 

At BDO, our purpose of helping people thrive every day is at the heart of everything we do. Together, we are focused on delivering exceptional and sustainable outcomes and value for our people, our clients, and our communities. BDO is proud to be an ESOP company, reflecting a culture that puts people first, by sharing financially in our growth in value with our U.S. team.  BDO professionals provide assurance, tax and advisory services for a diverse range of clients across the U.S. and in over 160 countries through our global organization.

BDO is the first large accounting and advisory organization to implement an Employee Stock Ownership Plan (ESOP). A qualified retirement plan, the ESOP offers participants a stake in the firm’s success through beneficial ownership and a unique opportunity to enhance their financial well-being. The ESOP stands as a compelling addition to our comprehensive compensation and Total Rewards benefits* offerings. The annual allocation to the ESOP is fully funded by BDO through investments in company stock and grants employees the chance to grow their wealth over time as their shares vest and grow in value with the firm’s success, with no employee contributions. 

We are committed to delivering exceptional experiences to middle market leaders by sharing insight-driven perspectives, helping companies take business as usual to better than usual. With industry knowledge and experience, a breadth and depth of resources, and unwavering commitment to quality, we pride ourselves on:

• Welcoming diverse perspectives and understanding the experience of our professionals and clients
• Empowering team members to explore their full potential
• Our talented team who brings varying skills, knowledge and experience to proactively help our clients navigate an expanding array of complex challenges and opportunities
• Celebrating ingenuity and innovation to transform our business and help our clients transform theirs
• Focus on resilience and sustainability to positively impact our people, clients, and communities
• BDO Total Rewards that encompass so much more than traditional “benefits.”  

*Benefits may be subject to eligibility requirements.

Equal Opportunity Employer, including disability/vets