Great Opportunity to work as a Controller for a Single Family Office reporting to the founder of a multi-million dollar company.
HoMedics is a privately-owned multinational company headquartered in Commerce Township, Michigan. Over the past 25 years, HoMedics has grown into a world leader in developing, marketing and distributing personal care, wellness and consumer electronics products. The Company's products are sold under the HoMedics brand name, as well as other recognizable brands, including HMDX, Jam, Obusforme, Salter, Ellia, and House of Marley.
This success is attributable to innovation, speed to market, and depth/breadth of distribution. Growth has been both organic and through acquisitions. HoMedics extensive line of personal wellness products strives to promote overall well-being and create a healthy home environment that helps relax the body, renew the spirit, de-stress and simplify life. HoMedics has a full line of wellness products, including back, neck, foot and handheld massagers, sound spas, footbaths, essential oils and diffusers, humidifiers, air purifiers, blood pressure monitors, and more. The HoMedics brand is synonymous with innovation, especially in the massage category where the brand enjoys dominant market share.
HoMedics products are sold in more than 60 countries throughout North and South America, Central America, the Asia-Pacific region, Europe, Middle East and Africa, with North America representing 65% of the Company's revenues. Products are sold in brick and mortar and online retail across all channels of distribution including mass, specialty, department store, club and drug, as well as independent distributors. As a private, family-owned organization, culture is a very important part of the experience at HoMedics. The operating style is fast paced, innovative, and commercially driven. Adequate structure, nimbleness, and speed to market are key attributes of the Company's culture and critical reason behind continued successes.
Job Description:
- Managing accounts payable for the family office and its related entities including:
- Creating and implementing best practices and procedures for the family office's accounts payable needs
- Communicating appropriate details on all bills to the family members, who approve bills for payment
- Entering invoices and payments into the accounting system and ensuring proper coding and allocations
- Ensuring invoices are paid in a timely and accurate manner
- Preparing and processing payments by check, wire, ACH, or credit card
- Performing call-back procedures to confirm vendor bank account instructions
- Proactively identifying potential 1099 vendors and collecting and organizing W-9s as needed. Providing a clear summary of 1099s to issue in January of each year including Payee, Address, SSN/EIN, Dollar Amounts, and type of 1099 form.
- Working with internal departments, banks, and external vendors to resolve any payment issues
- New bank account setup & ongoing maintenance
- Cash management, including forecasting future cash needs and ensuring that bank accounts are appropriately funded in advance of those needs
- Bank Account Reconciliations
- Credit card management for family members and household staff including applying for credit cards, sending credit card statements to the appropriate parties for review monthly, managing the payment process related to these bills, investigating any unknown charges, managing spending limits on credit cards, and categorizing all expenses for bookkeeping purposes
- Review and process employee expense reports, ensuring they are in line with the Expense Policy
- Operational accounting & reporting for the family office's companies including:
- Preparing monthly and quarterly financial statements for the Family's review (includes personal, investment, operating, and non-profit entities)
- Maintaining accurate records of accruals and prepaid expenses
- Fixed asset tracking including capitalizing expenses when necessary and recording depreciation
- Recording intercompany transactions and reconciling intercompany accounts payable
- Liaising with external teams (tax, legal, payroll, insurance, vendors, financial advisors) to support various needs
- Maintaining various trackers for the family office (K-1s received, month end close workbooks, etc.)
- Tax management to utilitize technical tax, analytical and skills including:
- Preparing or reviewing complex tax returns including federal and multi-state returns for high net worth individuals, including S corporations, partnerships, trusts and foundations
- Preparing or reviewing income tax projections to determine quarterly tax payments
- Closely monitoring recent tax legislation and how the law affects each each family owned business and family member
- Researching tax issues and providing guidance, including responding effectively and timely to family inquiries
- Provides quality client service and effective operations support by resolving client issues and analyzing data to address risk issues and trends