Tax Managing Director, Family Office Services

BDO USA-posted 3 days ago

$130,000 - $225,000/Yr

Full-time • Director

San Jose, CA

5,001-10,000 employees

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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 is expected to collaborate with firm leadership on overall approach and direction of the PCS-FOS Practice to ensure consistency with overall firm philosophy. The PCS-FOS Managing Director applies educational background, experience and industry knowledge of business issues, trends and economics on client work. This position is a critical part of the office's/region's leadership team. The PCS-FOS Managing Director leads and reviews the results of financial and advisory services of a given client engagement, is involved in supervision, "big-picture" problem solving and scheduling client projects to the appropriate personnel. In addition, this position is responsible for developing and mentoring PCS-FOS management and staff. The PCS-FOS Managing Director is responsible for marketing, networking and business development, as well as maintaining key client relationships. This role identifies, discusses and advises the client on key financial and non-financial performance measures, formulating and communicating a strategy plan and answering complex financial questions. The Managing Director also applies experience and knowledge of business processes to improve client internal controls and accounting procedures through process improvement suggestions.

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 their objectives, what financial information they value for management/decision making and why, and creating a map of their 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 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 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 the engagement remains profitable
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 how their finance and accounting needs will evolve as their business grows; easily helps clients identify next steps and persuades the client to value those unperceived needs
Identifies what needs are critical versus what are not; looks at the business of the client holistically
Periodically reviews solutions with their clients to determine if it is still the right solution for the current state of the business
Develops a compelling future vision for a client; communicates in such a way to inspire clients to take the journey towards that positive future
Proactively mitigates conflict
Uses negotiation techniques to drive difficult agreements between opposing parties/ideas and generally leaves parties satisfied with the result
Leads the client through business changes and facilitates the change management process; Acts as a partner to clients, as part of their team; diagnoses the relationships and political structure of groups and appropriately navigates these complexities
Quickly and accurately assesses people’s perspectives
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
Responsible for achieving business development goals by developing and executing business development strategies and service offerings targeted for various industries
Maintains sales pipeline of at least two times business develop goal. Ensure prospect and sales information is entered into CRM as appropriate
Participate in the roadmap/strategic planning process
Refines designed solutions and work plans into a compelling proposal document that speaks the language of the client and identifies the value clients will be receiving
Effectively manages the proposal process and negotiates contract terms and conditions to be incorporated into the statement of work
Evaluates clients for acceptance (e.g. general risk matters, regulations that affect our work, international business, background checks, etc.), and reviews and approves statements of work
Delivers industry resource expertise and leverages relationships with firm colleagues to execute on business development 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 a client, prospect, or contact
Develops relationships with local BDO Alliance firms; participates in BDO Alliance mini-area meetings and forums, presents PCS-FOS and BDODrive service offerings and solutions
Fosters a culture that embraces change and accountability
Ensures PCS-FOS team members are trained to understand and perform analytics and forecasting at a level where they are capable of interpreting financial results, recognizing trends and gaining insights into business performance improvements
Ensures PCS-FOS department is trained on all relevant software, processes and resources
Acts as career advisor to PCS-FOS management and staff; provides professional growth and career advancement opportunities for PCS-FOS management and staff
Evaluates the performance of the PCS-FOS department and assists in developing goals and objectives to enhance professional development that align with firm and PCS-FOS objectives
Monitors and recommends staffing levels for the area of the practice for which they are responsible
Serves as a resource for the team, having developed 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
Is the visionary leader for their practice area, articulating the goals and objectives how it will impact the business
Defines the dependent projects that need to be completed to reach practice goals. Provides focus on strategy and implementation, and delegates projects appropriately
Ensures all engagements are billed and collected in a timely and effective manner, appropriate to the client’s situation and the state of the work; monitors the billing activity of PCS-FOS Team
Achieves DSO practice metrics
Aware of how their practice P&L is structured and can interpret common firm metrics (at a practice and an individual level); operates with the bottom line in mind; Acts as a business owner and makes decisions as if they are using their own resources
Weighs associated costs and their return on investment and reaches appropriate financial decisions on expenses, billing, and staff performance matters
In conjunction with other members of practice leadership, creates and maintains strategic plans in alignment with firm and practice goals and objectives.
Accurately scopes new projects for large and complex clients and constructs 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 developing transition plans and estimating appropriate margins for the practice and the overall picture of the client relationship
Monitors the Net Promoter Scores and continually explores ways to improve client service
Reviews engagement economics for their practice area to ensure continuous improvement, and make necessary adjustments, in order to attain practice KPI's
Develops plans and forecasts for the area of the practice for which they are responsible (whether an office, industry line, or administrative area)
Manages the full lifecycle of practice management, from forecasting through collections
Identifies when research is needed; clearly and concisely frames issues to be researched; and clearly and concisely reports the analysis
Identifies complex issues to be researched by engagement team and provides research methodology for efficient research process
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.
Depending on specific role, may be required to present complex strategies to clients and prospective clients

Bachelor’s degree, focus in Accounting or Finance, preferred AND ten (10) or more years of experience performing general accounting transactions and functions, 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
Six (6) or more years of supervisory experience, required
Consultative or business advisory experience, required
Proficient in the use of the Microsoft Office Suite, specifically Excel, Word, and PowerPoint, required
Excellent verbal and written communication skills
Comfortable with ambiguity, knows when to create clarity (or when clarity is possible) versus when to make progress without full definition
Takes personal accountability for work products and accepts constructive feedback to guide future actions
Knows what is required from a compliance perspective and what is considered a standard or best practice for the industry or business structure
Fully understands the finance and accounting functions performed for large and complex clients 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 BDO can add value, as well as advise on best practices for their overall financial ecosystem
Presents with a high level of competence, confidence, and effectiveness in a variety of settings and to a variety of audiences; presents well to all levels of management, internally and with clients; communicates in a clear and concise manner, and uses impactful and memorable language to emphasize key points; persuades others to their points of view; self-aware – knows when an approach is not working and can change course immediately
Strong analytical and advanced research skills
GAAP and TAX knowledge, financial statement presentation, and report writing
Strong organizational skills especially the ability to meet project deadlines with a focus on details
Capable of working in a demanding, deadline-driven environment while handling multiple projects simultaneously and managing a diverse staff to accomplish desired results
Direct and prioritize multiple teams to successfully execute on engagements
Manages relationships for large and complex clients
Capable of effectively managing a team of professionals and contributing to the professional development of assigned personnel
Strategically identifies with whom to build relationships at BDO to support their business; builds rapport and trust with other professionals easily; educates other professionals on the practice’s approach, services, and client value proposition
Ability to travel up to 25% of the time

MBA or other relevant advanced degree (Masters in Accountancy), preferred
Experience working with outsourced and/or delivery center operations, preferred
CPA certification, preferred
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

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