The Role — Chief Financial Officer (CFO)
Location : Chicago IL — hybrid (weekly in-office requirement remote)
Reports to : CEO & Executive Director (Allyson Hansen)
Team : Senior Accountant (1); Director of IT (1)
Overview : We seek a seasoned financial leader to join our executive team. As the CFO, you will lead the IMDC’s Investment Committee overseeing the financial strategy to ensure sustainable financial health to support IMDC’s strategic initiatives. As a key member of the Leadership Team and working in concert with the CEO & Executive Director, you will drive financial performance, oversee budgeting processes, advise on key business and strategic decisions, and brief the board of commissioners.
Compensation : Base salary range is $178,000 to $210,000 plus robust benefits, including, among other things, medical / dental / vision; pension eligibility via Illinois Municipal Retirement Fund; paid time off State holidays; Costco membership; on-site parking; home office set up.
The Opportunity
The CFO will take an active role in the IMDC’s unique opportunity to guide one of the largest medical districts in the nation. While this role reports to the Executive Director, the CFO will have a close working relationship with all members of the Leadership Team and staff. The CFO will manage complex real estate finance, drive efficiency, enhance controls, and move forward the annual strategic plan and the 10-year master plan to improve and guide economic growth into the community. The ideal candidate profile will include the following elements :
- Cultural fit – Key characteristics include being mission-driven, adaptable, organized, and process-oriented.
- Leadership style – Successful leaders at the IMDC are collaborative, hands-on, and enjoy mentorship and team development.
- Vision for the role – The CFO will contribute to the organization’s future. They will play a key role in building a new financial framework and fostering growth and supporting the community.
Key Responsibilities
This executive and leader is expected to :
Lead the development of annual operating and capital budgets, monitoring revenue streams and cash flow to meet the organization’s financial commitments.Drive growth by identifying and structuring innovative financing solutions, analyzing the financial impact of prospective contracts, and collaborating on business development opportunities.Prepare and present comprehensive financial reports, including Income Statements, Balance Sheets, and Statements of Cash Flow, to the Board and other stakeholders, ensuring clarity and transparency.Oversee the finance and accounting teams, directing activities related to financial analysis, procurement, contracting, revenue management, debt issuance, and investment.Ensure accurate and compliant accounting practices, including the management of Accounts Payable, Accounts Receivable, payroll, and certain HR functions.Maintain compliance with grant and contract terms, government regulations, and ensure appropriate use of funds.Develop and implement internal control systems to safeguard assets and optimize financial operations.Identify opportunities to streamline financial processes ensuring efficiency and scalability across the organization.Coordinate with independent auditors to resolve audit issues and ensure compliance with GAAP and GASB 87 standards.Manage banking relationships and oversee investment and debt compliance to support operational needs and long-term goals.Evaluate and recommend employee benefits to ensure cost-effective offerings.Manage the departmental budget to maintain expenses within the allocated financial framework.Leadership Skills & Industry-Specific Knowledge
Team Leadership : Experience leading and developing high-performing finance teams, with the ability to motivate and mentor staff.Stakeholder Engagement : Skilled in building and maintaining relationships with internal and external stakeholders, including board members, executives, auditors, and regulatory bodies.Change Management : Ability to lead and manage organizational change, especially related to finance and operations.Clear Communication : Ability to convey complex financial information in a clear and accessible manner to non-financial stakeholders.Board Reporting : Expertise in preparing and presenting financial reports to executive leadership and board members.Cross-Functional Collaboration : Skilled at collaborating across departments to ensure that financial responsibilities are integrated with operational priorities to support an efficient and cohesive organization.Real Estate / Facilities Management Finance : Knowledge of financial practices specific to real estate development or facilities management.Public Sector / Nonprofit Financial Management : Familiarity with government financial management, including grant management and capital planning.Key Requirements & Preferences
Bachelor’s degree in Accounting, Finance, or a related field is required.An advanced degree (e.g., MBA) is preferred, but not required.Certified Public Accountant (CPA) certification is helpful, but not required.A minimum of eight (8) years of experience in a senior financial management role (function leader, VP-level or above) is required.Experience gained from professional roles in different settings (private sector, public sector, and / or nonprofit sector) is a plus.Strong background in governmental fund accounting and experience with municipal debt and public finance is preferred.Nonprofit finance experience as well as grant management and administration are preferred.Proven financial management experience in real estate development or facilities management also preferred.Experience developing a technology roadmap, including cybersecurity and risk management also preferred.Excellent leadership, team management, and multitasking abilities are required.Outstanding communication skills, both written and verbal, with the ability to distill complex information for diverse audiences also required.Demonstrated problem-solving skills and an analytical, organized approach to decision-making required.Among the personality traits sought are :passion for the mission and work of the IMDC within the City of Chicago;curiosity and open-mindedness;flexibility and the willingness to try, fail, and learn;comfort with both asking questions and responding to others’ inquiries (especially around financial matters) in a manner they can understand;desire to get involved, to go outside your designated lane, to collaborate with others;high accountability and responsibility for decision making in shaping the organization’s financial strategy; andexecutive presence for frequent interactions with the Board of Commissioners, government officials, business and community leaders.Ability to work extended hours and availability during peak times such as budgeting and planning cycles, audit and year end reporting, or as urgent needs arise.Based in Chicago, this role aims to hire local.
Salary : $178,000 - $210,000
