Chief Financial Officer

Illinois Public Health Institute; Chicago (IL); Hybrid; USD 156,000 - 190,000; Full time

Benefits offered by this job

Health plan options

Dental & Vision

Disability & Life insurance

401(k) with employer matching

Paid time off

Parental leave

Employee Assistance Program

15 paid holidays

Job summary

Illinois Public Health Institute (IPHI) is seeking a strategic nonprofit CFO to lead financial strategy and infrastructure. You will partner with senior leadership to drive growth, ensure fiduciary governance, and oversee the outsourced finance team while aligning budgets with IPHI’s mission.

Based in Chicago, this exempt, full-time role reports to the CEO and requires deep nonprofit finance expertise, GAAP knowledge, and collaboration with program teams to advance health justice.

Qualifications

• A master’s degree in finance or accounting is required.
• Minimum 15 years of nonprofit financial leadership experience, including 10 years in a supervisory role.
• Expert understanding of GAAP and government contract regulations.
• Experience with accounting systems (Sage, Bill.com) and financial reporting.
• Strong ability to translate financial data for strategic decisions.

Responsibilities

• Develop strategic financial vision aligned with IPHI’s mission.
• Oversee budgeting, financial policies, and internal controls.
• Lead monthly to annual close, financial reporting, and audits.
• Manage outsourced finance team and coordinate with program leads.
• Foster partnerships with funders and government agencies.
• Ensure cash flow management and grant compliance.

Skills

Leadership

Strategic thinking

Communication

Analytical skills

Interpersonal skills

Education

Master’s degree in finance or accounting

Nonprofit finance certification (preferred)

Tools

Excel

Sage

Bill.com

CRM systems

Project management tools

Job description

IPHI is experiencing rapid growth across our program areas; the CFO role presents a compelling opportunity for a dynamic and strategic nonprofit finance leader. The CFO will partner with a passionate and dedicated team of nearly 50 staff to execute new initiatives and create sustainable financial solutions that advance health justice in Illinois' most vulnerable communities and nationwide. As a member of the senior leadership team, the CFO will help IPHI manage and enhance our recent growth and contribute to the development and attainment of our strategic goals.

We seek a leader who can promote best practices in non-profit financial management while upholding the highest standards of integrity and fiduciary responsibility. The CFO will play a critical role in guiding the organization through change management, designing and implementing initiatives to strengthen financial infrastructure, and ensuring operational effectiveness. The CFO will supervise the outsource finance team and will partner closely with programmatic leadership. Within available resources, the CFO will be able to expand the team to meet identified operational or strategic needs. The CFO serves as the liaison to the Board of Directors and Executive Committee on financial, operational and administrative information. This position is full-time, exempt, and reports to the CEO. IPHI's standard work week is 37.5 hours.

DUTIES AND RESPONSIBILITIES

General

• Develop a strategic financial vision for the organization, in collaboration with the CEO, and ensure alignment with IPHI's mission, vision, and strategic plan
• Oversee organizational, team growth by guiding the development and implementation of multi-year strategies to enhance revenue, develop high-impact strategic partnerships, and develop and enhance the financial and operational effectiveness of the organization
• Direct the seamless integration of financial and operational initiatives across departments and ensure synergy within the broader organizational framework and strategic plan

Finance & Accounting

• Develop and oversee financial strategies and operations by analyzing financial information and making recommendations to improve performance and support decisionmaking
• Develop and refine financial policies, procedures, systems and internal controls
• Oversee the development of and closely monitor the annual organizational budget
• Oversee the development financial projections and make recommendations to ensure appropriate spending levels
• Partner with program staff to prepare budgets and pricing for funding proposals.
• Support program and accounting staff to manage and monitor program and project budgets and ensure that actual revenues and expenses align
• Oversee monthly, quarterly, and annual closing and preparation of accurate and timely financial statements, financial reporting, tax filings and the audit activities
• Lead processes to develop, win approval and manage IPHI's negotiated federal indirect rate
• Ensure compliance and timely submissions of materials for Illinois' GATA requirements
• Monitor and ensure adequate cash flow, including overseeing federal cash drawdowns and reporting to ensure timeliness and compliance with cash transaction regulations.
• Oversee grant and fee for service receivables
• Oversee banking relationships and serve as the primary liaison with all financial institutions, oversee and monitor banking and credit activities of the organization.
• Lead training of and provide support to all staff to understand and comply with financial policies and procedures
• Oversee the development and supervision of the finance department staff to conduct and implement day-to-day accounting and financial activities, including A/R, A/P, payroll, reconciliations, monthly expense allocations, accruals, preparation of financial reports, and cash management activities
• Make recommendations on investment portfolio and operational reserves

Expectations & Leadership Behavior

• Clearly communicate the organization's vision and strategic priorities, ensuring all team members understand and align their efforts accordingly
• Balance risk-taking with sound judgement, ensuring decisions are well-informed, thoughtful, and aligned with the organization's mission, vision, values, and strategic goals
• Build, exhibit, and maintain a culture of accountability, trust, and inclusion, setting high standards for personal and professional conduct
• Proactively address challenges within teams, fostering professional growth and ensuring that concerns are appropriately escalated to HR; Collaborate with HR and CEO to identify and mitigate team risks, creating a supportive and secure work environment

Teamwork & Team Relationships

• Foster an optimal collaborative work environment that encourages cross-functional teamwork and shared accountability on complex issues and partnerships
• Identify, administer and improve policies and processes to ensure the safety and security of staff, visitors, and partners in the office and at IPHI events and programs

External Relationships

• Build and maintain strategic partnerships with funders, government agencies, and other organizations, in partnership with the CEO

Supervision

• Set direction, focus and objectives for team, providing oversight management
• Coach and evaluate team performance

Grant, Resource, & Finance Development

• Partner with programmatic leads on business development for the organization to generate revenue through consulting, fee-for-service, and grant opportunities
• Identify new business opportunities within existing and emerging partnerships that enable to organization to generate additional revenue.
• Partner with programmatic leads to develop and manage budgets for multiple projects; course correct when necessary; works with outsourced finance team and program team to ensure organizational budget represents current and future work
• Partner with the COO to ensure an effective contract management process, including review and negotiation; timely, accurate reporting; proper financial controls; and budget management and performance tracking
• Partner with the COO to manage procurement processes and practices to ensure compliance with contractual and grant requirements, efficiency and cost effectiveness

Planning and Stewardship of Money

• Partner with the COO, negotiate and oversee manage capital purchases and facilities leases, manage leases and assets, and oversee communications and interactions with the landlord and other external facilities partners
• Ensure institutional records are maintained in an accessible yet secure manner and oversee records retention policies and procedures
• Review and approve invoices in Bill.com

Administration Management

• Manage administrative tasks related to employee supervision
• Oversee recruitment, hiring, onboarding and training, engagement and retention, promotions, and terminations for the financial team
• Partner with the COO to ensure compliance with state and federal laws such as ACA, ADA, EEOC, and FLSA
• Work with leadership team and managers to conduct financial planning trainings and develop and implement professional development activities

Other duties as assigned.

QUALIFICATIONS

A master’s degree in finance or accounting is required, additional certification in nonprofit finance is preferred.

A minimum of 15 years’ experience in nonprofit financial leadership, including 10 years in a supervisory role

Expert understanding of Microsoft programs, including Excel, Word, PowerPoint, Teams, and Outlook

Experience with accounting systems and database management/CRM systems (Sage, Bill.com, preferred).

Understanding of Zoom, Asana, and other project management or organizing apps

Expertise in nonprofit accounting principles, GAAP, and government contract regulations with a demonstrated ability to analyze and report on financial data to inform decisionmaking and strategy

Experience in contract management, including development and vetting of contract documents, monitoring, and compliance and administration of federal and state regulations

Exceptional management skills; demonstrated ability to influence and engage direct and indirect reports and peers and mentor and coach staff of diverse levels of expertise and backgrounds

Exceptional judgement, professionalism, and discretion in handling confidential and sensitive situations and matters

Strong verbal, written, organizational, analytical and interpersonal skills, with demonstrated ability to translate complex financial information for non-financial audiences.

Demonstrated experience as a proactive and creative problem solver

Ability to manage multiple tasks and projects simultaneously, be comfortable in a fast-paced environment, and able to adapt to change and growth

Self-motivated to learn new concepts and participate in new projects

JOB REQUIREMENTS

• The position is full-time, exempt, 37.5 FTE hours per week
• Must be able to sit at and operate a computer and other office equipment for a significant portion of the workday
• Must be able to move about the office to access files and supplies
• This position may entail occasional work in the evenings or on weekends and requires occasional travel for one or more nights from time to time
• This position is located in Chicago and will require adherence to our hybrid schedule

Compensation:

This position offers a base salary starting at $173,042 per year, depending on experience and qualifications.

Benefits:

IPHI offers competitive benefits, including multiple health plan options, dental, vision, employer-paid disability and life insurance, flexible spending accounts, and a 401(k) with employer matching. Employees also receive PTO, paid parental leave, and an Employee Assistance Program, 15 paid holidays, including a week off in December.

Location:

This position is located in Chicago. IPHI operates a hybrid office work model where team members work in the office two days per week (Tuesday, Wednesday, or Thursday), and individuals may work in the office or remotely the other three days per week. There is travel for meetings and site visits within Chicago, the suburbs, and Illinois. Occasional overnight travel within Illinois or nationally for conferences and training may be required.

Starting Date:

Immediate.