Job Title: Chief Financial Officer
Location: London
Salary: Competitive
Recruiter: Lutyens Advisory
Industry Sector: Family Office
Contract Type: Permanent
Hours: Full Time
Keywords: single family office, multi-family office, tax, accounting, accountancy practice, art
CHIEF FINANCIAL OFFICER
The family office is privately owned and supports a UK-based family across their personal, investment and business interests. Art is the family's principal asset class, held alongside an investment portfolio, a property portfolio and privately owned businesses. The office manages a number of entities and works closely with external accountants, tax advisers, lawyers, investment managers and other specialist providers. One entity is regulated as an art market participant for anti-money laundering purposes, which gives the role a regulatory dimension that is unusual in a family office of this kind.
The CFO will have broad responsibility for the family's financial affairs and for the day-to-day running of the family office. It is a senior role that combines oversight with hands-on delivery. The successful candidate will work directly with the principal and with the family's external advisers, lead the family office team, and act as a trusted sounding board for the family in their financial decision-making. The role will be based in London.
The office has a Family Council and a dedicated AML compliance function. The emphasis of this appointment is on strengthening financial control, governance and reporting across a complex set of entities, while continuing to give the principal and the family clear, timely information and sound judgement on the decisions in front of them.
Key Responsibilities
The key responsibilities of this individual will be:
- Leadership: acting as a trusted adviser to the family across their personal, investment and business affairs, and leading the family's financial strategy in partnership with external advisers.
- Finance and reporting: financial and management reporting across the family office and associated businesses; preparation of reporting for Family Council and board meetings and follow-up of agreed actions; management of the annual audit and the auditor relationship; maintenance of robust internal financial controls.
- Treasury, cash and banking: treasury, cash flow, banking and funding requirements, including mortgages and intercompany balances; oversight of business and personal bill payments, payment authorisation controls and fraud risk.
- Tax: oversight of personal and business tax compliance, and direction of external advisers on tax planning and advisory matters.
- Investments, art and property: oversight of investment reporting and cash flows and coordination with investment managers; financial and operational oversight of the art collection and related art businesses; financial oversight of rental properties, including cost and cash flow reporting.
- People and team: leadership and development of the family office finance team and, alongside the senior art business director, the art business team, including recruitment and performance management; oversight of HR, payroll and employment matters.
- Advisers, costs and vendors: management of external advisers and service providers, family office costs, professional fees and supplier contracts; insurance arrangements; IT systems, cyber security and external IT providers.
- Governance, risk and regulatory: acting as Money Laundering Reporting Officer for the regulated art market participant entity; company secretarial and corporate governance; the family office risk framework and key financial, tax, statutory and governance deadlines.
The Role in Detail
Leadership and the family
The CFO will be the principal's main point of contact on all financial matters and a trusted adviser to the wider family. They will lead the family's financial strategy, working with the external advisers to ensure that decisions on investment, property, art and the family's businesses are taken on a sound, well-informed footing. They will need the confidence to offer an independent view and the judgement to know when to step forward and when to support.
Finance and reporting
This individual will own financial and management reporting across the family office and its associated businesses. The objective is to give the principal and the family clear, relevant and timely information that supports good decisions, rather than volume of data. The CFO will prepare the financial information for Family Council and board meetings, attend those meetings, and ensure that agreed actions are followed through. They will manage the annual audit and the relationship with the external auditors and will be responsible for maintaining robust internal financial controls across all entities.
Treasury, cash and banking
The CFO will manage the family's treasury, cash flow, banking and funding requirements, including mortgage facilities and intercompany balances between entities. They will oversee both business and personal bill payments, set and maintain payment authorisation controls.
Tax
They will oversee personal and business tax compliance and work with external advisers on tax planning and advisory matters. The family is looking for a CFO with genuine tax literacy across personal and corporate matters, who can direct advisers with authority, challenge their recommendations where appropriate, and translate complex advice into clear options for the family.
Investments, art and property
The CFO will oversee investment reporting and cash flows and coordinate with the family's investment managers and advisers.
People and team
This hire will lead and develop the family office finance team and, alongside the senior art business director, the art collections team, including recruitment and performance management. They will oversee HR, payroll and employment matters across the office, working with external advisers and providers where appropriate.
Advisers, costs and vendors
The CFO will manage and coordinate the family's external advisers and service providers. They will oversee family office costs, professional fees and supplier contracts, ensuring that value for money is achieved and that the office has the right balance of internal and external capability. They will oversee insurance arrangements alongside the Strategy Director, and will be responsible for IT systems, cyber security and the relationship with external IT providers.
Governance, risk and regulatory
The CFO will act as Money Laundering Reporting Officer for the regulated art market participant entity. Supported by the AML compliance officer they and will oversee AML, legal and regulatory compliance across the office. They will maintain the family office risk framework, keep track of key financial, tax, statutory and governance deadlines, and proactively identify financial, operational and governance risks and opportunities so that they are addressed appropriately.
Key relationships
The principal and members of the family; the Family Council; the family office finance team and the art collections team; the AML compliance officer; and external auditors, accountants, tax advisers, lawyers, investment managers, banks, insurers and IT providers.
Candidate Profile
Essential
- A qualified accountant (ACA, ACCA, CIMA or equivalent) with proven experience in a senior finance role.
- Experience of working with UHNW individuals, in a family office or in a family-run or founder-led business.
- Strong personal and corporate tax literacy, with the judgement and credibility to direct advisers rather than defer to them.
- A track record of leading finance or operations teams.
- Comfortable operating both strategically and ‘in the weeds’ in a dynamic environment, moving easily between Family Council reporting and the detail of payments, controls and deadlines.
- Sound judgement and absolute discretion when dealing with sensitive and confidential matters. They must be trustworthy, reliable and of the highest integrity.
- Excellent written and verbal communication skills, with the ability to distil complex financial, tax and legal information into clear recommendations.
- Able to work autonomously, manage competing priorities and remain calm and decisive under pressure.
Desirable
- Experience of the art market or other specialist asset classes, and a genuine interest in art.
- Experience acting as MLRO or working within an AML-regulated environment.
Personal qualities
Cultural fit with the principal and the family will be essential. The successful candidate will have high emotional intelligence, gravitas without ego and the sophistication to represent the family with third parties. They will be perceptive and diplomatic, understanding when to stand back and when to step in, and will build relationships founded on trust and transparency with the family and the wider team.
