The Accounting Specialist serves as a key member of the Single-Family Office team and plays a vital role in maintaining financial records, monitoring bank accounts, coordinating accounts payable, handling tax administration tasks, and assisting with investment administration. This position requires meticulous attention to detail, strong organizational skills and time management, and the ability to effectively communicate with various stakeholders.
Core Responsibilities:
Accounts Payable
- Coordinate the receipt of vendor invoices and payment requests from the Family Office and other authorized individuals.
- Input and manage accounts payable data for multiple entities into QuickBooks.
- Summarize payables into a schedule for review and approval on a recurring basis.
- Prepare payment instructions for approval by the Family Office and authorized individuals.
Bank Account Management
- Review bank accounts daily to ensure sufficient funds are available in each account, facilitate transfers to if necessary.
- Review bank accounts daily to identify unusual activity or transactions
- Act as the primary point of contact for banks to address inquiries and resolve discrepancies.
Payment Administration
- Process and manage personal and corporate payments
- Ensure proper documentation and approval protocols are adhered to for all payments.
Monthly Bookkeeping & Expense Tracking
- Review bank statements for unidentified transactions and provide descriptions for each
- Provide bookkeeping assistance to the Family Office and external accountants.
- Input banking activity into QuickBooks for expense tracking purposes
- Perform monthly expense tracking, including review of ongoing expenses (utilities, security, etc.) to identify short-term variations and long-term trends.
Tax Administration
- Forward all correspondence received from CRA and IRS to Family Office and accountants
- Annually, collect all tax slips received and forward to the Family Office and accountants
- Complete payment of Personal and Corporate tax instalments
Investment Administration
- Coordinate signature for all investment documents sent by the Family Office and authorized individuals
- Scan and file investment documents for records and provide digital copies to the Family Office and authorized individuals
- Transact wire payments for investments as instructed by the Family Office and authorized individuals
General Administrative Items
- Assist with financial record-keeping for investments, donations, and other family office activities.
- Manage the document organization function ensuring the file structure is intuitive and scalable.
- Collaborate with tax advisors and accountants to ensure financial compliance.
- Ensure files are organized into appropriate directories with a standardized naming convention.
- Regularly audit files to remove duplicates, outdated documents, or unnecessary data.
Relevant background and experience:
- Accounting/Finance degree required; designation preferred.
- 3-5 years of Accounting and Finance experience.
- Advanced knowledge of QuickBooks software.
- Ability to multi-task and work independently in a dynamic environment with shifting priorities
- Excellent communication and interpersonal skills
- Attention to detail and strong organizational skills
- Desire to acquire skills and build a long-term career in a unique environment.
