Chief of Staff

Someone who acts as a point of contact to an executive & leads/coordinates other staff within an office, government or organization.

The Role of a Chief of Staff

A Chief of Staff (COS) is someone who acts as a strategic partner and advisor to an executive, politician or individual in their professional and occasionally personal life.

A Chief of Staff spends much of their time overseeing other staff and coordinating on various projects and initiatives on behalf of a principal, so it is important that they have a deep understanding of a principal’s underlying vision and goals. In a corporate setting, a Chief of Staff is responsible for many of the operational functions of a business, with duties in project management, communication, stakeholder engagement and problem-solving.

A person in this role should assist in managing the principal’s time and communication with others, acting as a liaison between the principal and other stakeholders. Primary responsibilities include spearheading initiatives, conducting research, monitoring performance, preparing reports, facilitating meetings and resolving issues on behalf of a principal.

An experienced Chief of Staff will be a proactive, adaptable and trusted partner that provides valuable insight and guidance to the principal and other senior leaders.

Job Description

EDUCATION / EXPERIENCE

Most often, a Chief of Staff will possess a Bachelor’s (B.S. or B.A.) or Master’s (M.S. or M.B.A.) degree – frequently but not always in communication, business administration, human resources, finance, accounting, or a related field. Or equivalent professional experience as a director-level or senior administrator at a family office, business, philanthropy, political office, etc.

An experienced Chief of Staff will have 5-7+ years’ experience in a corporate or executive-support setting. Depending on the specific needs of a principal, industry experience may or may not be required. Additionally, depending on the size of an office or number of staff reporting to the principal, this position may require extensive experience managing or leading others.

SKILLS

Experience in the various facets of a family office, business, non-profit or political office, including operations, human resources, finance/accounting, communications, legal/compliance and technology
Project management skills, seeing complex projects through, consulting with others for their expertise, and learning, implementing and/or disseminating new information quickly
Creating and managing budgets, forecasting, reporting, auditing and/or facilitating tax compliance
Experience in executive management as well as exposure to senior-level decision-making
Ability to prioritize and execute strategic initiatives
Strong familiarity with reporting, to display and analyze data, and to measure performance
Budgeting and finance management skills, and an ability to oversee financial resources
Creative mindset, strong research skills and a natural ability to identify opportunity to solve problems
Diplomacy skills and the ability to handle sensitive and confidential matters

CERTIFICATIONS / TRAINING

Professional certifications are not required in this role, but an employer may prefer candidates with one of the following, or another certification (based on their industry):

Certified Chief of Staff Professional (CCSP)
Certified Administrative Professional (CAP)
Project Management Professional (PMP) or Certified Associate in Project Management (CAPM)
Professional in Human Resources (PHR) or Society for Human Resource Management Certified Professional (SHRM-CP) or Certified Professional – Human Resource (IPMA-CP)
Certified Manager Certification (CM)

RESPONSIBILITIES

Specific responsibilities vary based on the principal’s industry as well as the number of direct reports, but common duties include:

Meeting with executive on a regular basis to listen to and provide advice on strategic decisions, policy changes, internal performance and other topics
Managing projects and initiatives on behalf of an executive
Managing executive committee or board of director meetings
Overseeing day-to-day operations and administrative functions and expenses and analyzing financial data as necessary
Developing and implementing organizational policies and procedures
Overseeing the hiring and onboarding/training of strategic hires
Forming and maintaining external relationships that benefit the executive and/or office
Liaising with other staff in operations, human resources, etc. to ensure departments are coordinated and efficiently collaborating on projects with shared outcomes
Ensuring compliance with legal and regulatory requirements at all times
Developing and implementing more efficient systems for time management, information flow and communication
Managing a daily/weekly/etc. list of priorities and proactively setting up meetings or adding items to an executive’s agenda when they are otherwise ready for executive action
Acting as the executive leader’s spokesperson and liaison within the organization and to the public
Providing data analysis and metrics of productivity and performance
Solving problems and identifying opportunities for improvement
Handling sensitive and confidential matters with diplomacy and discretion

ATTRIBUTES

Characteristics of a successful Chief of Staff include:

Project management skills

A Chief of Staff should be a proficient project manager who can plan, execute, monitor and control various projects related to the family office’s operations, finances, investments, philanthropy and other areas. He or she should be able to define the scope, objectives, deliverables, budget, timeline, and resources for each project and ensure that they are met or exceeded. He or she should also be able to identify and manage potential issues, risks, changes, and dependencies that may affect the project’s success.

Resourcefulness

A Chief of Staff should be resourceful and adaptable in finding solutions to various challenges that arise in the course of managing a project on behalf of the principal. He or she should be able to improvise and innovate when faced with changing or unexpected situations.

Interpersonal skills and communication

A Chief of Staff should be an exceptional communicator who can convey information, instructions, feedback, and requests clearly and effectively to various stakeholders. He or she should be able to use verbal, nonverbal, written and visual communication skills to suit different audiences, contexts and purposes, and should also be able to listen actively, ask relevant questions and respond appropriately to others.

Decision-making

A Chief of Staff should be a decisive and confident decision-maker who can analyze information, weigh options, and make sound judgments in a timely manner. He or she should be persuasive in their arguments or criticism and be natural at winning others over to their way of thinking. A successful COS will always be able to justify and communicate the rationale behind each decision they make as well as taking responsibility for any consequences.

Responsibility and integrity

A Chief of Staff should be a responsible and trustworthy professional who can uphold the highest standards of ethics, quality, and excellence in his or her work. This person should always act in the best interest of the principal and comply with all applicable laws, rules and regulations. He or she should always maintain confidentiality, discretion and respect for the principal’s privacy and reputation.

COMPENSATION

Total compensation for a Chief of Staff ranges from $125-350K. Factors that command a higher salary include specific experience, education or training requirements, an ability to work/be on call outside of normal work hours, flexibility to travel or live-in and fluency in languages other than English. Components of a Chief of Staff’s compensation may include:

Base salary

A fixed annual amount received for performing duties as agreed upon. A Chief of Staff’s base salary varies depending on the size, complexity and location of the business or individual they support, as well as the experience and qualifications of the Chief of Staff.

Discretionary bonus

A variable amount that is paid annually, based on an individual’s performance. A Chief of Staff’s bonus is ultimately tied to the principal’s overall satisfaction and may fluctuate from year to year.

Equity

With equity compensation, a portion of the employee’s compensation is paid in options, restricted stock or performance shares, which represents ownership in a business or fund owned or managed by the principal. Options can have a vesting period and/or expiration date, which affects their overall value. Equity compensation strongly incentivizes long-term employment and can be a great tool for building a team that is dedicated, loyal and aligned with the overall vision of the principal/family office.

Profit sharing / carried interest

Carried interest is a common fund/wealth management reward structure, wherein executives receive a specific percentage of net gain in investment returns in portfolios above a hurdle rate or cost of capital. Carried interest may be applied to an entire portfolio or to specific investments. This incentive is typically restricted to the senior executives in a family office, where current AUM exceeds $200M. Percent carry varies from 1% all the way up to 20%, depending on the size of the family office.

STANDARD BENEFITS

A Chief of Staff will typically receive the following corporate-style benefits:

Medical, dental and vision

Standard health benefits help employees stay healthy, reduce absenteeism and ultimately increase productivity.

Retirement savings account

401k, thrift savings plan or simple IRA, especially with employer matched contributions, shows your employees your commitment to their future.

Paid time off

PTO allows your employees to take time off from work for various reasons, such as vacation, sickness, personal matters or holidays.

Travel/miscellaneous expenses

Expenses incurred when travelling or conducting business on behalf of the principal, including transportation, accommodations, meals and other costs related to business travel. These expenses may be reimbursed or covered by a travel allowance or budget.

OTHER BENEFITS / "PERKS"

Additional benefits are often included to enhance the attractiveness of an employment offer, as well as encouraging long-term employment. Such benefits include:

Education

Tuition reimbursement, scholarships/savings plans for those with college-aged children

Professional development

Encouraging and covering an employee’s participation in training courses, workshops, seminars, conferences or professional certifications

Health and wellness

Healthy food, beverages or snacks offered at the office
Paid or discounted gym memberships or fitness classes
Access to wellness programs with counseling services, health screenings, substance abuse treatment, etc.
Life and disability insurance

Employee assistance

Financial counseling
Legal advice
Transportation reimbursement or allowance

Charity

Volunteer opportunities
PTO days for community service
Charitable match program

Family benefits

On-site childcare or childcare reimbursements
Parental and family medical leave

Workplace

Remote work/flexible hours
Casual work attire
Employee recognition programs, awards or rewards

REPORT STRUCTURE

A Chief of Staff generally reports:

Directly to the principal(s)
To a Managing Director/CEO/CIO of a family office
To other director-level staff in HR, Operations or Finance

A Chief of Staff typically acts as an intermediary between the principal and other executives or department heads. In some cases however, a Chief of Staff may directly manage other administrative or operational associates.

Have Questions?

Leading From Behind The Scenes

A Chief of Staff plays a critical role in managing the flow of work and information within an executive team, often acting as the right hand to a CEO or high-level executive. Responsible for coordinating key projects, handling day-to-day operational duties, and ensuring that strategic goals are being executed efficiently, a Chief of Staff is both a strategic thinker and a hands-on manager, ensuring alignment across departments and facilitating smooth decision-making processes.

A successful Chief of Staff thrives in high-pressure environments, bringing organization to chaos, providing insights to leadership, and leading teams to accomplish ambitious goals. By bridging the gap between executives and the rest of the team, they ensure that no initiative is left behind.

“We place Chiefs of Staff who are not only experts in management but also possess the agility and foresight to lead in dynamic, fast-paced environments.”

Adam Cook

Managing Director, Old State Staffing

Streamline Your Professional Life

Why You Should Consider a Chief of Staff

A Chief of Staff is a pivotal player in the efficiency and success of an executive. They manage complex workflows, align multiple departments, and ensure that an executive’s vision is translated into action. By hiring a Chief of Staff, you can delegate key operational tasks and focus on strategic decision-making. A Chief of Staff can help you:

Coordinate projects and manage team communications
Ensure efficient execution of strategic objectives
Provide leadership support to the CEO or executive team
Manage high-level schedules, meetings, and operations
Drive organizational change and streamline business practices

By hiring a Chief of Staff, you’re ensuring that others around you are as organized, effective, and aligned towards your goals as you are, and enabling them to perform at their highest potential.