Director, Accounting

The Art Institute of Chicago shares its singular collections with our city and the world. We collect, care for, and interpret works of art across time, cultures, geographies, and identities, centering the vision of artists and makers. We recognize that all art is made in a particular context, demanding continual, dynamic reconsideration in the present. We are a place of gathering; we foster the exchange of ideas and inspire an expansive, inclusive understanding of human creativity.

We offer a competitive, comprehensive benefits package:

• Generous paid time off
• Paid holidays (up to 14 days)
• Medical, dental, and vision insurance
• Generous parental, caregiver, and medical leave benefits
• Competitive retirement plan (up to 9% matching contribution)
• Tuition remission and Tuition Exchange Program
• Great employee discounts
• Complimentary general admission to participating cultural institutions

The Director, Accounting is responsible for the accurate and timely accounting and account reconciliation processes for the Institute, including, but not limited to, cash, investments, student accounts receivable, debt, inventories and accounts payable, as well as that of various revenue and expense accounts. Establishes, documents and monitors procedures and internal controls necessary to identify and mitigate errors and/or irregularities which compromise the integrity of the general ledger and financial systems.

RESPONSIBILITIES:

• Supervises the Accounting Manager and team responsible for the preparation of the majority of the Institute’s balance sheet account reconciliations and associated analyses, including but not limited to:

• Oversight of the accounting for the Institute’s diversified and complex investment portfolio.
• Reconciliation of Institute bank accounts and management of the daily cash movement process. Partners with Treasury on accurate and timely cash and endowment transfers; maintains relationships with Institute banking partners.
• Oversight of the Institute’s capital accounting process, including supervision of the fixed asset journal entries and workpapers, maintenance of fixed asset tracking software, and accounting for leases. Monitors and recommends changes to accounting policies related to fixed assets.
• Reconciliation and recording of monthly debt-related transactions, including principal and interest payments, amortization of debt issuance costs and bond premiums and discounts. Ensures external debt reporting requirements are met, including calculation of debt covenants and liquidity ratios.

• Supervises the Manager, SFA Accounting, in ensuring timely and accurate accounting for federal and state student financial aid programs including Perkins, FSEOG, Pell, FWS, Direct and alternative/private loans.

• Ensures preparation and filing of all necessary U.S. Department of Education reports, including annual FISAP and Perkins reporting. Maintains knowledge of federal financial aid program requirements.
• Responsible for other account reconciliations and analyses as assigned, including student receivables and inventories.

• Ensures sound internal controls over accounting and account reconciliation such that reconciling items and disparities are identified, analyzed and resolved on a timely basis. Establishes procedures for the analytical review of financial reports and general ledger data.

• Identifies and implements accounting processes and best practices to gain efficiencies and maintain proper segregation of duties within areas of responsibility. Documents processes and procedures as needed.

• Responsible for keeping current with relevant technical accounting, auditing and tax law changes and implementation of necessary adjustments. Assists and advises others in development of implementation strategies.

• In partnership with the Director, Financial Reporting and Compliance, responsible for accumulating audit schedules and other data required by the Institute’s external auditors for the financial statement, retirement plan, and federal and state financial aid program audits.

• Prepares, directs or assists in the preparation of any internal financial reports or analyses required by the Officers, Vice Presidents, Board of Trustees or other operating departments, performing necessary reconciliations or analyses to ensure the accuracy of such reports.

• Performs special project assignments or other duties as directed by the Controller or the Executive Vice President, Finance and Administration. Oversees and directs consultants hired for special assignments.

• Performs other duties as assigned.

QUALIFICATIONS:

• Bachelor’s degree in accounting or business degree with equivalent accounting experience; CPA required
• Minimum 6-8 years of experience in accounting or finance; experience in not-for-profit environment strongly preferred
• Minimum 3 years of experience supervising staff
• High attention to detail, works accurately and efficiently and has good organizational skills
• Ability to work cooperatively and collaboratively with all levels of employees and management
• Strong technical accounting skills with demonstrated solid current and comprehensive understanding of GAAP

The Art Institute of Chicago is an Equal Opportunity Employer that recruits, hires and promotes qualified individuals without regard to race, religion, sex, sexual orientation, gender identity, age, national origin, ancestry, veteran status or citizenship. The Institute complies with federal and state disability laws and makes reasonable accommodations for applicants and employees with disabilities. If reasonable accommodation is needed to participate in the job application or interview process, please contact the Department of Human Resources at apply_help@artic.edu.