Whittier Trust is the oldest privately owned multi-family office headquartered on the West Coast, providing exceptional client service and highly customized investment solutions for high-net-worth individuals and their families.
Our dedicated professionals work with clients and their families to deliver a broad array of services including investment management, fiduciary, philanthropic, and family office. Our founding family's century-long history of entrepreneurship continues to guide our activities for clients today. Entrusted with private family assets, our teams employ a consulting approach to tailor solutions for complex family situations.
Whittier Trust attracts professionals who have a desire to grow while building their skills in the service to our clients. Our organization is flat, nimble, and uniquely attuned to the needs and desires of both today's entrepreneurs as well as legacy family members who may be several generations removed from the wealth creators. Our corporate culture is one of client-focus, collaboration, performance and accountability, family orientation and long-term career satisfaction. Employee turnover is low because of a high level of engagement and career fulfillment.
The position offers a competitive compensation package including base salary, performance bonus, equity consideration, excellent medical, and retirement plans.
POSITION SUMMARY
The Director of Tax reports to the CFO and oversees the Tax Department, which currently comprises a team of eight. The position works closely with Client Advisors to provide tax projections, tax alerts, tax summaries and tax advice to clients. The Director of Tax is responsible for the overall management of the Tax Department, which includes five primary functions: (1) tax preparation, (2) tax advisory, (3) brokerage 1099 production, (4) IRA form production and (5) tax processing.
The tax preparation function is managed by the VP of Tax Compliance, who reports directly to this position. The tax preparation function is responsible for the preparation and review of ultra-high net worth client fiduciary, individual, pass-through income tax and gift tax returns. While the Director of Tax is not directly involved in the tax preparation process, they will be asked to review and walk clients and trustees through the details of tax returns and provide planning notes where applicable.
The tax advisory function is the primary responsibility of the position and involves building tax models in Excel, writing federal and state tax alerts, creating tax summaries and tax planning presentations and working with external tax vendors, tax preparation firms, law firms and tax authorities. The person who fills the position should have expert knowledge in federal and state laws regarding income taxation of trusts, individuals and pass-through entities as well as federal gift and estate tax. Strong leadership and communication skills are of paramount importance to this position.
The brokerage 1099 production function is managed by the 1099 Administrator, who reports directly to the Director of Tax. The 1099 Administrator works with an outside vendor to produce brokerage 1099s and trust reporting documents. While the Director of Tax is not directly involved in the preparation of Form 1099s, they are expected to understand the preparation and dissemination process and will occasionally report status updates to Client Advisors. The position will also consult with the 1099 Administrator to select the outside 1099 vendor from time-to-time.
The IRA form production function is managed by the IRA Administrator, who reports directly to the Director of Tax. The IRA Administrator produces Form 1099s and other appropriate tax documentation and filings for IRAs custodies at Whittier Trust. While the Director of Tax is not directly involved in the preparation of these forms, they are expected to understand tax planning strategies and opportunities involving IRAs, which include current law changes such as the Secure Act 2.0.
The tax processing function is managed by the Tax Processing Administrator, who reports directly to the Director of Tax. The Tax Processing Administrator is responsible for tax return processing and tax payments for clients at Whittier Trust. The Director of Tax works with the Tax Processing Administrator to ensure tax payments are made accurately by providing personnel resources and technology resources required to meet deadlines.
PRIMARY RESPONSIBILITIES
- Interact with Client Advisors, clients and prospective clients on a variety of tax advisory matters involving ultra-high net worth individuals, trusts, estates, gifting and partnerships.
- Actively engage in business development activities by individually cultivating relationships with prospective clients and referral sources, supporting Client Advisors in meetings with prospective clients and participating in firm-sponsored marketing and networking events. Achieving new business revenue goals is an essential part of the job and is a top priority.
- Provide oversight to the Tax Compliance, 1099, IRA and Tax Processing functions.
- Draft relevant tax alerts related to tax law changes and updates, as well as tax mitigation strategies.
- Build and maintain tax summaries for clients related to charitable contribution carryovers, remaining gift and estate tax credit calculations, comparison tax calculations for post-TCJA and comparison tax calculations for varying tax structures including pass-through entities, such as the pass-through entity tax.
- Research recent law changes, including the TCJA, Secure Act 2.0, Inflation Reduction Act, American Rescue Plan and federal and state tax proposals.
- Review federal, state and local corporate tax filings.
- In regard to Whittier Trust's corporate returns, prepare and review certain state and local returns, including the Nevada Commerce Tax and San Francisco Annual Business Tax.
- Draft tax alerts to be released to clients and the public.
- Utilize corporate technology to maintain accurate records and make available tax resources, which is currently done using Microsoft SharePoint and OneDrive, among other systems.
- Work with outside tax preparation firms and estate tax planning attorneys, which include Big Four accounting firms and nationally recognized law firms.
- Travel to corporate offices and client sites.
- Bachelor's degree, including a strong academic record, from a four-year college or university
- Master's degree in Tax or JD preferred, not required
- CPA required
- Minimum of 10+ years' relevant experience, Big Four preferred.
- Expert knowledge of federal, state and local tax laws and regulations related to income taxation of trusts, individual and pass-through entities and gift and estate taxation.
- Advanced skills in Microsoft Excel, PowerPoint, Word, SharePoint and OneDrive.
- Relevant knowledge of tax preparation software systems, including CCH and Thomson Reuters.
- Outstanding writing and verbal communication skills.
- Strong people skills
- Client service focus
- Effective verbal and written communication skills
- High integrity with a diligent work ethic
- Team/people-oriented
- Highly organized with good time management skills
- Meticulous attention to detail
- Valid driver's license and the ability to travel by airplane.
COMPENSATION A competitive base salary, performance bonus, and benefit plans including medical, dental, vision, life, long term disability, and 401(k) with company match.
Base salary range: $150,000 - $220,000.