What are the responsibilities and job description for the Chief Financial Officer Richard L. Duchossois Foundation position at Chicago African Americans in Philanthropy?
About The Foundation
The Richard L. Duchossois Foundation (RLD) was founded in 2017 and launched formal operations in 2023. The Foundation is committed to addressing seemingly intractable social problems with imagination and passion. We strive to improve the lives of families and veterans, and to cultivate entrepreneurs through data driven and collaborative approaches to funding. We seek to practice philanthropy with rigor and from a place of listening, and strive to be a learning organization – to always seek greater understanding of our funding priorities. While our home and our priority is the Chicago region, we may consider national efforts that are aligned with our mission, values and goals.
Chief Financial Officer
The Richard L. Duchossois Foundation (RLD) seeks a Chief Financial Officer, the foundation’s top financial position, with responsibilities including overall financial management, budgeting and reporting, formulating financial policies and procedures, maintaining a system of internal controls, producing financial statements, treasury operations, tax matters, financial audits, insurance, and interfacing with the Foundation’s investment advisory firm and investment managers. The CFO will eventually lead a team of two direct reports and work closely with the Executive Director and other Foundation team members, including program managers and data management and analytics professionals.
A critical part of the CFO’s responsibilities will be overseeing the Foundation’s investments, which currently approximate $600 million. Direct management of the investment operations are outsourced to an outside firm under a discretionary investment management contract, but the CFO must possess substantive experience with large-scale institutional investment management, including asset allocation, performance analysis, cash flow and valuation projections, and investment manager selection.
The successful candidate will be excited about designing an organizational financial strategy that consistently drives increasing philanthropic investment to produce social and community outcomes within the Foundation’s philanthropic focus areas.
The CFO will be responsible for developing RLD Foundation’s long-term vision and financial strategy. The CFO will set a proactive budget and investment agenda that fuels RLD Foundation as a philanthropic leader. The CFO provides consultation on long-range financial forecasting for the Executive Director and Board and ensures that the Foundations’ system of internal controls safeguards the Foundation’s assets.
The CFO develops and manages key relationships with independent auditors, professional advisors, investment managers, and the Board of Directors.
The CFO will be responsible for the hiring, training and management of a Controller as well as a Grants Manager, whose primary roles are to support the organization’s day-to-day operations and year-over-year grantmaking, respectively.
The CFO is a results driven, proactive individual who maintains high standards of personal integrity and is able to balance “analysis” with “doing.” The successful candidate will possess a blend of financial, strategic, and political acumen; be able to establish productive partnerships; have the ability to influence and resolve differences across organizational boundaries; be an adept public speaker; and gain support and commitment from others without formal authority.
ESSENTIAL JOB FUNCTIONS
Finance
- Oversee the development and execution of the annual budget and financial plans for the Foundation, and monitor departmental budgets.
- Prepare timely and accurate financial statements, forecasts (including minimum distribution requirements), and maintain an effective system of internal financial controls.
- With advisors, coordinate and produce annual IRS form 990, and various state tax returns, and all financial filings required by law.
- Oversee and coordinate financial audits with outside accountants.
- Manage all treasury functions and bank relationships.
- Recommend cost control measures.
- Monitor and manage the Foundation’s risk profile.
- Mentor program staff through the annual budgeting processes and ongoing review of financial reports.
- Supervise the Foundation’s Controller to :
Perform annual budgeting for administrative spending.
Develop and maintain policies and procedures to improve and streamline grant making operations.
Investments
Operations & Administration
QUALIFICATIONS
PERSONAL QUALIFICATIONS
COMPENSATION AND BENEFITS
This is a full-time, salaried position and the salary for this position is $250,000 and above, commensurate with experience. RLD Foundation offers a competitive benefits package, including :
LOCATION
RLD Foundation will be establishing offices in Chicago’s Loop or adjacent. Occasional travel outside of Chicago may be expected and may include participation in professional conferences.
Please note RLD Foundation will maintain a hybrid work environment where employees are expected to work in the office three days a week.
EQUAL OPPORTUNITY EMPLOYER
RLD Foundation is an Equal Opportunity Employer and strives to recruit and retain highly competent individuals for its staff. It is RLD Foundation’s policy to recognize the potential of each employee without regard to race, color, religion, sexual orientation, national origin, sex, pregnancy, childbirth or related medical conditions, age, marital status or family, or socio-economic backgrounds. This policy shall apply to all phases of the employment relationship. All applicants will be evaluated on a merit basis.
BACKGROUND CHECKS
RLD Foundation intends to conduct background checks on all prospective hires.
WORKING AT RLD FOUNDATION
Working at RLD Foundation means becoming part of a talented team of passionate individuals who value inclusivity and innovation, are dedicated to RLD Foundation’s mission and values. Candidates who possess flexibility, maturity, vision, personal fortitude, and a sense of humor will find it a pleasure to work here.
PHYSICAL REQUIREMENTS
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Ability to sit at a computer terminal for long periods of time, ability to be physically in attendance at workstation at a designated company office location during normal business hours designated for the position.
While performing the duties of this job, the employee is regularly required to talk, hear, handle, and feel.
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Salary : $250,000
