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Family Office Fund Accountant

New York, New York;

Job Description:

Job Description

Senior tax accountant position that provides technical fiduciary income and transfer tax expertise working closely with the Private Bank client teams focused on differentiating client service expanding client relationships and managing risk within Bank of Americas risk appetite. Insures all tax responsibilities required of assigned accounts and team are fulfilled achieving client focused service standards and complying with bank standards and policies and federal and state tax laws. Has the product knowledge and expertise to address client needs conducts tax research to resolve complex tax issues advise on tax treatment of transactions and technical tax matters. Responsible for the most complex tax matters federal and state fiduciary income tax generation skipping transfer taxation and other areas of tax preparation and reporting.

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).

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. 

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

Job Band:

H4

Shift: 

1st shift (United States of America)

Hours Per Week:

40

Weekly Schedule:

Referral Bonus Amount:

0

Job Description:

Job Description

Senior tax accountant position that provides technical fiduciary income and transfer tax expertise working closely with the Private Bank client teams focused on differentiating client service expanding client relationships and managing risk within Bank of Americas risk appetite. Insures all tax responsibilities required of assigned accounts and team are fulfilled achieving client focused service standards and complying with bank standards and policies and federal and state tax laws. Has the product knowledge and expertise to address client needs conducts tax research to resolve complex tax issues advise on tax treatment of transactions and technical tax matters. Responsible for the most complex tax matters federal and state fiduciary income tax generation skipping transfer taxation and other areas of tax preparation and reporting.

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).

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. 

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

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Learn more about this role

Full time

JR-22086474

Band: H4

Manages People: No

Travel: No

Manager:

Talent Acquisition Contact:

Blake Guion

Referral Bonus:

0

Street Address

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