Starting or creating a family office
What Should a Family Include in a Family Office Executive's Job Description?
Short answer. A family office executive's job description should state the office's purpose, the executive's responsibilities, decision authority, reporting line, and how performance will be assessed. Define the role around the family's documented goals and the work the office actually needs done, then review it with the executive before hiring.
A family office executive's job description should define the results the family expects, the authority needed to deliver them, and the boundaries of the role. A vague description can lead to family members issuing conflicting instructions or expecting one person to solve every problem.
Start With the Office's Purpose
Before listing duties, write down why the office exists and whom it serves. Is the priority coordinating advisers, overseeing reporting, supporting investments, handling administration, or some combination? Set the scope in a way that matches the family's needs and the office's capacity. A written mission and goals give the executive a reference point when requests compete. See how to create a family compass and how to define the office's purpose and scope.
Describe Responsibilities and Authority
Separate recurring work from decisions that require family approval. Spell out what the executive owns, what the executive coordinates with outside advisers, and what must be referred to a family committee or designated family leader. Include the reporting line and who can assign work. If family members can give instructions, define how those instructions are reconciled so the executive is not accountable to several people with different priorities.
Be clear about the role's limits. The executive may manage staff and coordinate operations while the family retains specific investment, spending, or governance decisions. Those boundaries belong in the broader governance documents as well as the job description. The page on single family office governance covers the policies that can support this arrangement.
Set Expectations You Can Evaluate
Define a small set of observable outcomes. Depending on the role, these might include timely reporting, reliable coordination of adviser work, completion of agreed operational projects, or clear communication with family members. State how often progress will be reviewed and who will provide feedback. Avoid promising investment results as a measure of performance when the executive does not control the factors that determine them.
Describe the working style and experience the family needs. A senior leader may need to coordinate across functions, make sound judgments about what to escalate, and earn trust while maintaining appropriate confidentiality. Distinguish required skills from preferences, and explain whether the person will manage employees, budgets, vendors, or investment processes. The family office talent search page can help frame the hiring process.
Review the Description Before Hiring
Ask the family members who will work with the executive to agree on the role before recruiting begins. Check that the responsibilities fit the available resources and that authority matches accountability. If compensation includes incentives, document how they are determined and which outcomes count. Talk with your attorney or CPA about employment terms and any legal or tax details. A clear description gives the candidate and family a shared starting point, and it can be revised as the office's needs become clearer.
You cannot hold a team accountable if you don't have a clear mission statement and do not know what objectives you would like them to accomplish.
Sources: How to Start a Family Office, The Single Family Office. Informational only, not financial, legal or tax advice.