Experienced Senior Associate

Website BDO

BDO delivers assurance, tax, digital technology solutions and financial advisory services to clients throughout the country and around the globe.

Full Job Description

Job Summary:

  • The Family Office Services (FOS) Experienced Senior Associate is responsible for performing and overseeing the full cycle general accounting function for ultra-high net worth families, utilizing accounting and technology skills, gathering client information necessary for participating in tax planning, and recognizing and communicating potential risks.
  • In this role, the Family Office Services Experienced Senior Associate may be charged with supervising and reviewing the work of Family Office Services Associates.

Job Duties:

  • 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
  • Comprehends common financial statements and prepares draft financial statements for review; understands how line items/accounts function (e.g. capital accounts, various forms of liabilities, etc.); properly distinguishes debits from credits; calculates/interprets KPIs for clients; identifies positive and constructive trends and raises them to BDO management
  • Understands complex broker/private equity statements and properly record investment activity
  • Conducts basic financial statement analysis and understands the finance and accounting functions generally performed by an ultra high net worth family (e.g. realizes capital gains vs. unrealized capital gains) and common best practices/processes
  • Prepares financial budgets and forecasts and communicates actual to budget variances
  • Plans basic engagements to include on-boarding and client delivery phases and develops an understanding of engagement economics (i.e., billing and time entry) and adheres to FOS best practices
  • Interacts with clients to gain information, documents data necessary to complete assigned tasks.
  • Identifies and organizes clients’ financial information; prepares common financial reports and other schedules as requested; formats reports so they are easily read and understood by BDO management and clients.
  • Reviews client information for accuracy; uses deductive reasoning to identify anomalies or gaps and communicates significant client issues to supervisor
  • Supports drafting proposals and other documents explaining proposed solutions to clients
  • Articulates FOS’s value proposition and understands our target market/client profile
  • Applies our processes, systems, technology and resources to manage workflow and ensure proper documentation and workpapers
  • Reviews work products and works collaboratively with both PCS-FOS and BDO team members.
  • Produces quality work and sets priorities according to internal and external deadlines and project priority; knows when to raise priority setting conflicts to management
  • Takes personal accountability for work products and accepts constructive feedback to guide future actions
  • Prepares schedules to support the client’s audit preparation and tax compliance requirements
  • Participates in advanced special projects, as required
  • Other duties as required

Tax Related Duties:

Tax Compliance

  • Answers preparer questions, and coordinates engagement from onset by communicating expectations and procedures with preparers
  • Project Management
  • Meets internal deadlines to match the client expectations for timely delivery of service
  • Manages projects by developing a budget; monitoring budget vs. actual; scheduling resources for project and identifying out-of-scope activity

Research

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

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

Supervisory Responsibilities:

  • May supervise and manage the day-to-day work assignments of FOS Associates and Paraprofessionals
  • Provides verbal and written performance feedback to FOS Associates and Paraprofessionals, as necessary
  • Acts as mentor to FOS Associates and Paraprofessionals

Qualifications, Knowledge, Skills and Abilities:

Education:

One of the following is required:

  • Bachelor’s degree, focus in Accounting or Finance, preferred AND four (4) or more years of experience performing general accounting transactions and functions, required; OR
  • Five (5) or more years performing general accounting transactions and functions with some consultative or business advisory experience without a degree, required

Experience:

  • Consultative or business advisory experience, preferred
  • Prior basic supervisory experience, preferred
  • Ability to interact effectively with people at all organizational levels of the Firm
  • Knows how finance and accounting functions, technology for supporting these functions, and tax planning can differ by industry and business structure
  • Understands and explains tax planning considerations/concepts for various business entities; comprehends the information presented on different tax return forms
  • Listens for and communicates client problems and challenges to management that may be opportunities to grow the business and relationships with clients.
  • Proficient in technology packages clients are using to support their accounting/finance functions; learns new technology quickly

License/Certifications:

  • Currently enrolled in CPA certification, preferred
  • CPA Certification, preferred

Software:

  • Proficient in the use of the Microsoft Office Suite, specifically Excel and Word, required
  • Experience utilizing industry standard accounting software, required
  • Experience utilizing Intuit’s QuickBooks Online (QBO), BILL required
  • Sage Intacct, PowerBI, preferred

Other Knowledge, Skills & Abilities:

  • Excellent verbal and written communication skills
  • Strong analytical and basic research skills
  • Solid organizational skills especially the ability to meet project deadlines with a focus on details
  • Ability to successfully manage multiple projects while working independently or within a group environment
  • Proven ability to work in a deadline-driven environment and handle multiple projects simultaneously
  • Recognizes opportunities for innovation including improvements for handling day-to-day matters and developing an understanding of process improvements
  • Capability to effectively guide a team of professionals and delegating work assignments as needed
  • 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.

Range: $75,000 – $100,000

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