FS Family Office Administration Team Lead

Fifth Third Bank, N.A. • Chapel Hill, NC • 7h ago

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GENERAL FUNCTION:

The FS Family Office Team Lead is responsible for overseeing the Family Office Administrators and ensuring the efficient processing of financial information and preparation of financial reports. This role involves managing a team that serves high-net-worth families in various wealth management roles, ranging from portfolio management to lifestyle management. The Team Lead collaborates closely with the Managing Director, Trust and Family Office and the Relationship Managers (RMs) of the Family Office to achieve strategic and financial objectives while delivering a distinguished client experience.

Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. Accountable for always doing the right thing for customers and colleagues and ensures that actions and behaviors drive a positive customer experience. While operating within the Bank's risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all @types.

ESSENTIAL DUTIES AND RESPONSIBILITIES:

Oversee and manage the Family Office Administrators, providing guidance and support.

Collaborate with the Family Office RMs on athlete family office relationships and manage both family office services and investment matters.

Work with RMs and or directly with attorneys and CPAs on client tax matters and manage the flow of tax information.

Oversee management of Family Office vendor relationships.

Review and approve quarter calculations of Family Office service fees.

Ensure the team meets financial reporting deadlines and maintains accuracy in monthly, quarterly, and year-end close processes.

Foster a collaborative and high-performing team environment.

Ensure accurate and appropriate recording and analysis of revenues and expenses.

Oversee the preparation of profit and loss statements and other financial reports.

Communicate with clients, suppliers, vendors, and banking contacts to address inquiries and resolve issues.

Manage client lifestyle assets, including tracking investment accounts and reconciling net asset values.

Handle client payroll and deposit account receivables into client bank accounts.

Ensure adherence to accounting control procedures and internal policies.

Assist accountants with tax return preparation and support taxation issues.

Monitor and support compliance with regulatory requirements.

Review invoices and sign all checks for select family office clients and related entities, including cash management and banking activities.

Set up, review, and approve all wires for select family office clients and related entities.

SUPERVISORY RESPONSIBLITIES:

Responsible for providing employees timely, candid and constructive performance feedback; developing employees to their fullest potential and provide challenging opportunities that enhance employee career growth; developing the appropriate talent pool to ensure adequate bench strength and succession planning; recognizing and rewarding.

MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED:

Bachelor's degree in Business, Management, Finance, or related field

5+ years of experience in Finance, Accounting, or related experience.

5+ years of management and leadership experience, preferred.

Strong interpersonal, communication, analytical, and problem-solving skills.

Proven time management skills and the ability to multi-task and act quickly in a fast-paced environment.

PC proficient in QuickBooks and Microsoft Office suite (e.g., Outlook, Word, Excel, PowerPoint, CoPilot, etc.).

WORKING CONDITIONS:

Normal office environment with little exposure to dust, noise, temperature and the like.

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