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Family Office Fund Accountant

New York, New York;

Job Description:

Job Description

Primarily responsible for product fulfillment and day-to-day account administration in and analytical support. Prepares account summaries and performance reports for clients. Collects information to assist in developing client recommendations, collecting and organizing client data and generating reports and analysis. Understands the products and services offered to high net worth clients. Develop client service plans and ensure that they are maintained and executed. Responsible for all client relationship operations and activities under the supervision of senior relationship managers. Required 5-7 years working with HNW clients.

The Family Office Fund Accountant sits within the PBFO and is responsible for fund administration and partnership accounting for Ultra High Net Worth Family Offices. The Family Office Accountant will be a dedicated resource to clients and will guide them through the on-boarding process, and work with the clients and their advisors in reporting on pooled entities and consolidated reporting. The Family Office Accountant is a qualified subject matter expert for Partnership Accounting and Consolidated Reporting. Role will conduct proactive quality assurance, problem resolution and provide ongoing assistance to clients and their advisors with respect to accounting functions. Reporting support includes the production and review of Partnership and Accounting reports. In addition the role may include cyclical and ad-hoc Bill Pay, Investment Management aggregation and performance measurement analytics.  Ensures data quality and process excellence. Frequent contact with clients and key stakeholders is required to deliver monthly partnership accounting and complex entity accounting report packages.

Business Overview
Bank of America Private Bank is a leading private wealth management organization providing vast resources and customized solutions to help meet clients' wealth structuring, investment management, banking and credit needs. The Private Bank is part of the Global Wealth and Investment Management unit of Bank of America, N.A., which is a global leader in wealth management, private banking and retail brokerage employing more than 4,100 professionals and maintains 135 offices in 33 states. The Private Bank’s Family Office (“PBFO”) supports the Private Bank’s UHNW client segment representing more than 3000 clients and $300B in client assets. Our dedication to UHNW segment recently earned us the 2020 titles of Best Private Bank for Philanthropy Services (globally) and Best Private Bank in North America for Customer Service by Professional Wealth Management (PWM).

FO Fund Accountant Responsibilities

  • Daily activity review and reconciliation

  • Conduct cash flow analysis, reconcile assets/cash balances and review transactions for accuracy

  • Month-end closings and trial-balance preparation

  • Oversight of accounts payables processes

  • Review employee/family expense reporting

  • Cash management activities

  • Assist with general ledger and financial statement preparation for partnerships, S-corporations, trusts and foundations

  • Ad-hoc reporting and analysis


Family Office Fund Accountant Qualifications

  • Bachelor’s Degree or higher in Accounting /Finance preferred

  • Minimum of 5-years of accounting experience (fund accounting preferred) and experience working with institutional and/or high net worth clients

  • Experience in monthly / quarterly close processes, work paper preparation, account reconciliation and journal entry preparation

  • Two-years of Archway ATWeb experience preferred or similar fund accounting software

  • Knowledge of Pooled Entities and Partnership structures

  • Proficiency with Excel, Work, PowerPoint and other similar applications

  • Team player with ability to work independently

  • Must have excellent interpersonal and collaboration skills to interact with a broad range of stakeholders and partners

  • Ability to build close working relationships with support groups including specialized vendors, technology and operations

  • Must have strong analytical and organizational skills

  • Must be able to prioritize and manage multiple tasks simultaneously

  • High attention to detail

Desired Skills

  • Knowledge of Bloomberg, SQL, Tableau, SharePoint

  • CPA a plus

Job Band:

H5

Shift: 

1st shift (United States of America)

Hours Per Week:

40

Weekly Schedule:

Referral Bonus Amount:

0

Job Description:

Job Description

Primarily responsible for product fulfillment and day-to-day account administration in and analytical support. Prepares account summaries and performance reports for clients. Collects information to assist in developing client recommendations, collecting and organizing client data and generating reports and analysis. Understands the products and services offered to high net worth clients. Develop client service plans and ensure that they are maintained and executed. Responsible for all client relationship operations and activities under the supervision of senior relationship managers. Required 5-7 years working with HNW clients.

The Family Office Fund Accountant sits within the PBFO and is responsible for fund administration and partnership accounting for Ultra High Net Worth Family Offices. The Family Office Accountant will be a dedicated resource to clients and will guide them through the on-boarding process, and work with the clients and their advisors in reporting on pooled entities and consolidated reporting. The Family Office Accountant is a qualified subject matter expert for Partnership Accounting and Consolidated Reporting. Role will conduct proactive quality assurance, problem resolution and provide ongoing assistance to clients and their advisors with respect to accounting functions. Reporting support includes the production and review of Partnership and Accounting reports. In addition the role may include cyclical and ad-hoc Bill Pay, Investment Management aggregation and performance measurement analytics.  Ensures data quality and process excellence. Frequent contact with clients and key stakeholders is required to deliver monthly partnership accounting and complex entity accounting report packages.

Business Overview
Bank of America Private Bank is a leading private wealth management organization providing vast resources and customized solutions to help meet clients' wealth structuring, investment management, banking and credit needs. The Private Bank is part of the Global Wealth and Investment Management unit of Bank of America, N.A., which is a global leader in wealth management, private banking and retail brokerage employing more than 4,100 professionals and maintains 135 offices in 33 states. The Private Bank’s Family Office (“PBFO”) supports the Private Bank’s UHNW client segment representing more than 3000 clients and $300B in client assets. Our dedication to UHNW segment recently earned us the 2020 titles of Best Private Bank for Philanthropy Services (globally) and Best Private Bank in North America for Customer Service by Professional Wealth Management (PWM).

FO Fund Accountant Responsibilities

  • Daily activity review and reconciliation

  • Conduct cash flow analysis, reconcile assets/cash balances and review transactions for accuracy

  • Month-end closings and trial-balance preparation

  • Oversight of accounts payables processes

  • Review employee/family expense reporting

  • Cash management activities

  • Assist with general ledger and financial statement preparation for partnerships, S-corporations, trusts and foundations

  • Ad-hoc reporting and analysis


Family Office Fund Accountant Qualifications

  • Bachelor’s Degree or higher in Accounting /Finance preferred

  • Minimum of 5-years of accounting experience (fund accounting preferred) and experience working with institutional and/or high net worth clients

  • Experience in monthly / quarterly close processes, work paper preparation, account reconciliation and journal entry preparation

  • Two-years of Archway ATWeb experience preferred or similar fund accounting software

  • Knowledge of Pooled Entities and Partnership structures

  • Proficiency with Excel, Work, PowerPoint and other similar applications

  • Team player with ability to work independently

  • Must have excellent interpersonal and collaboration skills to interact with a broad range of stakeholders and partners

  • Ability to build close working relationships with support groups including specialized vendors, technology and operations

  • Must have strong analytical and organizational skills

  • Must be able to prioritize and manage multiple tasks simultaneously

  • High attention to detail

Desired Skills

  • Knowledge of Bloomberg, SQL, Tableau, SharePoint

  • CPA a plus

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Learn more about this role

Full time

JR-22054004

Band: H5

Manages People: No

Travel: No

Manager:

Talent Acquisition Contact:

Susan Membrino

Referral Bonus:

0

Street Address

Primary Location:
114 W 47TH ST, NY, New York, 10036
Additional Locations: