Job Information
BDO USA, LLP Tax Managing Director, Private Client & Family Office Services in Denver, Colorado
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.
Job Duties:
Client Service Delivery
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
o Constructs business cases, develops technical arguments, and persuades leadership on adopting the new approach
o 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
o 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
o 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
o Calculates the benefit to a client in dollar terms of the solution
o 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
o 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
o 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
o 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
o 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;
o Acts as a partner to clients, as part of their team; diagnoses the relationships and political structure of groups and appropriately navigates these complexities
o 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
o 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
o Appropriately refers tax related matters to Core Tax and Specialty Tax Services
Business Development
- Responsible for achieving business development goals by developing and executing business development strategies and service offerings targeted for various industries
o 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
o 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
o 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 service offerings and solutions
Developing Others
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;
Practice Management/Administration
- Is the visionary leader for their practice area, articulating the goals and and how it will impact the business
o Defines the dependent projects that need to be completed to reach practice goals. Provides focus on strategy and implementation, and delegates projects appropriately