Responsible for managing all accounting activities and related financial functions of the Art Institute, including the general ledger, accounts payable, payroll, credit and collections, capital asset and construction accounting, account reconciliations, and internal, regulatory, and external financial and tax reporting and compliance. Ensure that the Art Institute has proper internal controls in place for all financial assets.
PRIMARY DUTIES AND RESPONSIBILITIES
Oversees the effective functioning of the accounting department. Selects, trains, and provide strategic guidance to staff.
Directs the establishment and documentation of accounting policies and procedures, and exercises policy direction over the conduct of accounting operations throughout the Art Institute.
Maintains the appropriate accounting ledgers, journals, and other accounting records so as to timely maintain accurate general ledger account activity and account balances, assuring compliance with tax accounting, legal, donor, or other restrictions.
Establishes procedures to ensure that the assets and liabilities of the Art Institute are properly and accurately recorded, and are regularly reconciled to supporting internal and independent documentation.
Implements, maintains, and monitors the financial accounting systems and the internal controls over the Art Institute's financial assets and records.
Working within the policies defined by the Corporate Treasurer, directs all treasury accounting of the Art Institute. Develops and maintains cash and investment reconciliations and reporting for financial statement purposes.
Develops policies to safeguard funds, including payroll disbursements, general operating disbursements, receivables, travel and entertainment advances and reimbursements, and cash receipts.
Prepares external financial statements, reports, and registrations of the Art Institute, including, but not limited to Form 990, state charitable solicitation registrations, tax reporting, and grant, foundation, and donor reporting. Works in consultation with external tax consultants to ensure that the Art Institute’s management is aware of new and proposed changes in tax regulations that affect the Art Institute.
Timely prepares and distributes accurate internal financial reports to appropriate Art Institute personnel.
Manages the conduct of audits of the Art Institute's records and benefit plans by the Art Institute's independent certified public accountant or any other organization, as required. Coordinates the Art Institute's response to the external auditor's recommendations to management.
Manages/supervises the development and implementation and provides detailed support for evaluation and selection of financial accounting and financial reporting systems.
Manages/supervises accounting for capital construction projects.
Responsible for preparation, maintenance, and distribution of departmental and institutional accounting procedures and policy manuals.
Responsible for preparing, maintaining, and monitoring of the departmental budget. Directly participates in the quarterly budget preparation, as required.
Prepares and coordinates the Audit and Risk Committee meeting materials under the direction of the EVP. Implements decisions of the committee and supports other Board committees, as required.
Bachelor’s degree in accounting, finance, or related field. CPA required. Minimum of 10 years of progressively responsible accounting and financial management experience in a professional services or non-profit environment. Experience in not-for-profit accounting is strongly preferred. 5+ years of supervisory experience related to accounting and finance.
The Art Institute of Chicago is an equal opportunity, equal access employer fully committed to achieving a diverse and inclusive workplace.
Internal Number: 10308
About The Art Institute of Chicago
The Art Institute of Chicago is a world-renowned art museum housing one of the largest permanent collections in the United States. It is encyclopedic in nature with strong holdings across all media, all traditions and all ages. The Art Institute is particularly recognized for its extraordinary Impressionist, Modern, Contemporary and American collections, among other aspects of its holdings. In addition to housing its permanent collection, it typically stages 35-40 special exhibitions a year. In 2014, it was named by Trip Advisor travelers as the number one museum in the world, a remarkable recognition that speaks not only to the quality of the collection but to the entirety of the visitor experience.The Art Institute welcomes between 1,400,000 and 1,800,000 visitors a year and has a membership of 100,000. The museum has an annual operating budget of approximately $110 million.Founded in 1879, the Art Institute grew with the success of Chicago and quickly attained world class stature given the strength of its collection. The Art Institute has expanded several times in its history, most recently and notably with the opening in 2009 of the 264,000 square foot Modern Wing designed... by internationally acclaimed architect Renzo Piano. The addition has been critically important to the museum as it not only provided much needed gallery space, but also allowed the Art Institute to reorganize its galleries to present the collection in a more logical and accessible fashion. The new addition also includes one of the largest education facilities at any museum and this center has allowed the Art Institute to expand its already impressive array of offerings.