Department
F&A FIN - Financial Services
About the Department
The primary goal of Financial Services is to support the core mission of the University through exemplary fiscal stewardship and financial planning and analysis. Our services and programs are geared toward providing our customers outstanding response and service while fulfilling compliance and fiduciary obligations. Among many duties, Financial Services has responsibility for accounting and financial reporting; financial planning and analysis, cash and treasury, endowment, debt management; payroll; sponsored award accounting; risk management and purchasing and paying for goods and services.
Job Information
Job Summary:
Reporting to the Associate Vice President for Finance, the University Controller is the Chief Accounting Officer for the University and is responsible for engaging and collaborating with constituents across the University. This collaboration is essential to the position to ensure the University’s financial policies, procedures, operations, and practices are appropriate, effective, and efficient in a highly decentralized environment. The position requires strong leadership, high integrity, a deep understanding of accounting standards and tax regulations and the ability to represent the institution on many levels and on multiple project teams. The University Controller plays a critical role in implementing systems and best practices that support the University’s education and research mission while also ensuring compliance with local, state, federal and international regulations.
The Controller has University-wide responsibility for GAAP Financial Reporting and Accounting Operations. The Controller leads a team of 15+ accounting professionals that produces and analyzes the consolidated financial statements of the University and its component parts, including the University, University of Chicago Medical Center (UCMC) and Marine Biological Laboratory (MBL), while ensuring compliance with US GAAP. The Controller has indirect responsibility for all significant accounting and reporting activities performed outside the Controller’s department, such as gifts, tuition, sponsored programs/research, and investments, and will implement and lead a process to collaborate with units to direct, measure and monitor desired controls and outcomes. The Controller and the team will develop and deliver various financial reports of business operations to Executive Leadership (e.g. CFO, AVPs) and the University’s internal and external auditors. These reports are key to (1) ensure the accuracy of the University financial reporting, (2) communicate the financial health and integrity of the Consolidated University to the Board of Trustees and other interested external third parties such as prospective donors, grant-making agencies, debt holders, etc., (3) maintain and improve the University credit rating, (4) ensure proper financial stewardship/control and (5) safeguard University assets. The Controller and team act as business partners for financial professionals in all units (schools, resource and administrative centers, central finance functions) University subsidiaries and the Medical Center consulting on various issues with potential impacts from changing business operations to significant and/or unusual transactions. The Controller directs the benchmarking and external monitoring of peer school reporting and standard- setter activities and favorably influences the related reporting standards and audits. New accounting standard updates and reporting/accounting changes are directed University-wide by the Controller.
The University of Chicago is currently in the second year of implementing a comprehensive enterprise resource planning (ERP) systems (Oracle). The ideal Controller candidate will have experience stabilizing ERP systems implementations, integrating related enterprise performance management (EPM) tools to enhance organizational reporting and data reporting and data utilization, and the ability to pivot between detail-oriented and strategic decision-making.

Responsibilities:

• Ensure proper planning and implementation of the monthly, quarterly, and annual GAAP financial close process for all Units which includes schools, resource and administrative centers, central finance functions, University affiliates, Marine Biological Laboratory and the University of Chicago Medical Center with annual operating revenue of $5.7 billion.
• Ensure the accuracy and integrity of timely financial reporting in compliance with Generally Accepted Accounting Principles (GAAP). Proactively monitor and favorably influence changes in rules, regulations and standards impacting higher education. Well informed on accounting rules, upcoming trends, and an active participant in networks of colleagues in peer institutions and broader industry.
• Ensure timely distribution of the University’s financial statements and other financial data to internal and external users, including the Board of Trustees and senior management and communicate required changes in the University’s consolidated annual financial report to senior leadership, Board of Trustees and external auditors through the annual Form and Content draft process.
• Direct and/or collaborate on the preparation of other external reports such as the Integrated Postsecondary Education System (IPEDs), numerous US Gov’t Census surveys, National Science Foundation (NSF) and other federal agencies, Middle States, etc.
• Ensure an appropriate system of internal controls, including accounting policies, procedures, and practices sJoo that assets are safeguarded, and accounting activity is reported accurately and timely.
• Enhance communication and collaboration across the University community. Work with a wide range of stakeholders involved in financial transactions, and effectively communicate information about accounting policies, procedures, and best practices.
• Provide support to global operations to help establish processes for supporting departments in international endeavors.
• Direct the planning and execution of the University-wide in-sourced moveable equipment inventory in accordance with the University policy and OMB Uniform Guidance.
• Lead the annual review and update of the University-wide Financial Policies.
• Direct the University-wide fixed asset accounting operation to: 1) ensure that centers can properly safeguard and inventory their assets, 2) ensure that centers are properly reporting and approving asset acquisitions, dispositions, and relocations, and 3) ensure that depreciation expense is properly calculated and reported.
• Direct the University-wide cash receipts operations and related bank reconciliations to ensure that cash transactions are properly reported in the appropriate period.
• Direct the University-wide interfund and affiliate billing operation to ensure that services provided to related and affiliated parties are billed, reported, and reimbursed in a timely manner.
• Support the Associate Vice President for Finance by carrying out special projects and providing tactical and strategic advice. Act as a leader within the Financial Services department and provide rigorous analysis informing a range of executive decisions.
• Lead a comprehensive and timely (monthly, quarterly, and annual) financial statement analysis process which culminates with the preparation of formal analysis documents used by executive management to communicate business trends and issues to the Board of Directors and by external auditors to verify compliance with reporting controls as well as the accuracy of our statements.
• Lead a comprehensive monthly horizontal line-item analysis process of the financial statements designed to detect and correct significant accounting/reporting errors and identify and communicate corrective actions required to prevent their reoccurrence.
• Key participant in various strategic working groups to inform decision support on issues with notable financial impact, e.g. pension/benefit plans, endowment payout, etc.
• Ensure compliance with GAAP through detailed review of complex accounting rules and the application of those roles to complicated and multifaceted transactions University-wide.
• Review and/or prepare professionally documented accounting and reporting research position papers/white papers, following professional practices used by Emerging Issues Task Force (EITF), recommending and approving critical accounting decisions for concurrence by the external auditor.
• Proactively monitor emerging accounting, reporting and internal control rules promulgated by authoritative bodies including the SEC, Financial Accounting Standards Board (FASB), EITF and American Institute of Certified Public Accountants (AlCPA).
• Benchmark and propose adoption of peer and other entity reporting/accounting practices.
• Evaluate these emerging rules and practices, communicate impact on the University, and recommend and implement appropriate actions.
• Directs the functional aspects of the closing process/schedule and partners with Information Technology Systems (ITS) and other possible stakeholders on related system requirements.
• Directs the accounting practices in functional departments University-wide, including assignment of object code reconciliation and analysis responsibilities, and development and implementation of a monitoring process that ensures the University’s system of internal controls over financial reporting (e.g. reconciliations, agings, and analytical reviews) are effective and operating as intended.
• Directs and leads all aspects of the external audit process including scheduling and coordinating of quarterly reviews and annual audit activities; scheduling and coordinating of related internal activities to meet external deadlines; and working together with other functional departments to ensure that necessary supporting information is provided timely and accurately.
• Reviewing and editing of all communications from external auditors to University Board of Trustees and senior management such as University Audit Plan; University Engagement Letter; University quarterly review reports; University annual audit report; management letter comments and responses; single audit in accordance with uniform guidance; and provide oversight to ensure the University’s compliance with federal, state, local and international tax compliance.
• Proactively influence emerging accounting, reporting and internal control trends and proposals being developed by authoritative bodies such as SEC, FASB, EITF and AlCPA by representing the University on various national industry committees and working groups including active leadership and participation on the NACUBO Accounting Practitioners Council (APC); active leadership and participation on the Ivy Plus Controllers Group; presenting to various Ivy peer groups in areas such as Research and Gifts; and communication and cooperation with the FASB NFP Advisory Board.
• Performs other related work as needed.

Competencies:

• Intellectually inquisitive - knowledgeable about, and open to, leading-edge changes in business practices that could support the University in a more cost effective and efficient manner while enhancing data driven decision support.
• Team-oriented and strong manager - recruit, develop, motivate, and manage professional staff and hold staff accountable for accurate, timely results, and excellent customer service. Set tone and expectation of excellence, continual improvement, and strong customer service to the institution and to external parties who interact with the office.
• Effective communication at all levels of the organization including senior management and the Board of Trustees. A sophisticated understanding of how best to communicate policy and procedures in a consistent and clear manner across the University.
• Effective implementer - advance projects in a manner that ensures input and feedback from stakeholders and demonstrates strong listening and influencing skills. Able to cultivate trust and credibility with colleagues.
• Well–organized - ensure all deliverables are met on time with excellent results, anticipating potential implementation or workload issues.
• Exceptional personal qualities - reputation for integrity and the highest ethical standards; sound judgment and enthusiasm; creativity in solving problems; collegial style and keen desire to be an integral part of University leadership.

Additional Responsibilities
Education, Experience or Certifications:

Education:

• A bachelor’s degree in accounting, business, or related field required.
• Completion of an advanced degree is preferred.

Experience:

• At least 10 years of increased financial/administrative responsibilities at a major research University and experience with large ERP systems implementation processes, preferably Oracle, is highly desirable.

Technical Knowledge or Skills:

• The successful candidate will have an in-depth knowledge of GAAP, FASB, AICPA, and federal compliance requirements, with a proven track record of working across an institution to solve problems and advance the institution’s goals.

Certifications:

• Completion of a certified public accountant status, or an equivalent designation is required.

Required Documents:

• Resume/CV
• Cover Letter

When applying, the document(s) MUST be uploaded via the My Experience page, in the section titled Application Documents of the application.
Job Family
Senior Administrators
Scheduled Weekly Hours
37.5
Drug Test Required
No
Health Screen Required
No
Motor Vehicle Record Inquiry Required
No
Pay Frequency
Monthly
Pay Rate Type
Salary
FLSA Status
Exempt
Pay Range
$255,000.00 - $330,000.00
The included pay rate or range represents the University’s good faith estimate of the possible compensation offer for this role at the time of posting.
Benefits Eligible
Yes
The University of Chicago offers a wide range of benefits programs and resources for eligible employees, including health, retirement, and paid time off. Information about the benefit offerings can be found in the
Benefits Guidebook
.
Posting Statement
The University of Chicago is an equal opportunity employer and does not discriminate on the basis of race, color, religion, sex, sexual orientation, gender, gender identity, or expression, national or ethnic origin, shared ancestry, age, status as an individual with a disability, military or veteran status, genetic information, or other protected classes under the law. For additional information please see the
University’s Notice of Nondiscrimination.
Job seekers in need of a reasonable accommodation to complete the application process should call 773-702-5800 or submit a request via
Applicant Inquiry Form.
All offers of employment are contingent upon a background check that includes a review of conviction history. A conviction does not automatically preclude University employment. Rather, the University considers conviction information on a case-by-case basis and assesses the nature of the offense, the circumstances surrounding it, the proximity in time of the conviction, and its relevance to the position.
The University of Chicago’s Annual Security & Fire Safety Report (Report) provides information about University offices and programs that provide safety support, crime and fire statistics, emergency response and communications plans, and other policies and information. The Report can be accessed online at:
http://securityreport.uchicago.edu
. Paper copies of the Report are available, upon request, from the University of Chicago Police Department, 850 E. 61st Street, Chicago, IL 60637

• Ensure proper planning and implementation of the monthly, quarterly, and annual GAAP financial close process for all Units which includes schools, resource and administrative centers, central finance functions, University affiliates, Marine Biological Laboratory and the University of Chicago Medical Center with annual operating revenue of $5.7 billion.
• Ensure the accuracy and integrity of timely financial reporting in compliance with Generally Accepted Accounting Principles (GAAP). Proactively monitor and favorably influence changes in rules, regulations and standards impacting higher education. Well informed on accounting rules, upcoming trends, and an active participant in networks of colleagues in peer institutions and broader industry.
• Ensure timely distribution of the University’s financial statements and other financial data to internal and external users, including the Board of Trustees and senior management and communicate required changes in the University’s consolidated annual financial report to senior leadership, Board of Trustees and external auditors through the annual Form and Content draft process.
• Direct and/or collaborate on the preparation of other external reports such as the Integrated Postsecondary Education System (IPEDs), numerous US Gov’t Census surveys, National Science Foundation (NSF) and other federal agencies, Middle States, etc.
• Ensure an appropriate system of internal controls, including accounting policies, procedures, and practices sJoo that assets are safeguarded, and accounting activity is reported accurately and timely.
• Enhance communication and collaboration across the University community. Work with a wide range of stakeholders involved in financial transactions, and effectively communicate information about accounting policies, procedures, and best practices.
• Provide support to global operations to help establish processes for supporting departments in international endeavors.
• Direct the planning and execution of the University-wide in-sourced moveable equipment inventory in accordance with the University policy and OMB Uniform Guidance.
• Lead the annual review and update of the University-wide Financial Policies.
• Direct the University-wide fixed asset accounting operation to: 1) ensure that centers can properly safeguard and inventory their assets, 2) ensure that centers are properly reporting and approving asset acquisitions, dispositions, and relocations, and 3) ensure that depreciation expense is properly calculated and reported.
• Direct the University-wide cash receipts operations and related bank reconciliations to ensure that cash transactions are properly reported in the appropriate period.
• Direct the University-wide interfund and affiliate billing operation to ensure that services provided to related and affiliated parties are billed, reported, and reimbursed in a timely manner.
• Support the Associate Vice President for Finance by carrying out special projects and providing tactical and strategic advice. Act as a leader within the Financial Services department and provide rigorous analysis informing a range of executive decisions.
• Lead a comprehensive and timely (monthly, quarterly, and annual) financial statement analysis process which culminates with the preparation of formal analysis documents used by executive management to communicate business trends and issues to the Board of Directors and by external auditors to verify compliance with reporting controls as well as the accuracy of our statements.
• Lead a comprehensive monthly horizontal line-item analysis process of the financial statements designed to detect and correct significant accounting/reporting errors and identify and communicate corrective actions required to prevent their reoccurrence.
• Key participant in various strategic working groups to inform decision support on issues with notable financial impact, e.g. pension/benefit plans, endowment payout, etc.
• Ensure compliance with GAAP through detailed review of complex accounting rules and the application of those roles to complicated and multifaceted transactions University-wide.
• Review and/or prepare professionally documented accounting and reporting research position papers/white papers, following professional practices used by Emerging Issues Task Force (EITF), recommending and approving critical accounting decisions for concurrence by the external auditor.
• Proactively monitor emerging accounting, reporting and internal control rules promulgated by authoritative bodies including the SEC, Financial Accounting Standards Board (FASB), EITF and American Institute of Certified Public Accountants (AlCPA).
• Benchmark and propose adoption of peer and other entity reporting/accounting practices.
• Evaluate these emerging rules and practices, communicate impact on the University, and recommend and implement appropriate actions.
• Directs the functional aspects of the closing process/schedule and partners with Information Technology Systems (ITS) and other possible stakeholders on related system requirements.
• Directs the accounting practices in functional departments University-wide, including assignment of object code reconciliation and analysis responsibilities, and development and implementation of a monitoring process that ensures the University’s system of internal controls over financial reporting (e.g. reconciliations, agings, and analytical reviews) are effective and operating as intended.
• Directs and leads all aspects of the external audit process including scheduling and coordinating of quarterly reviews and annual audit activities; scheduling and coordinating of related internal activities to meet external deadlines; and working together with other functional departments to ensure that necessary supporting information is provided timely and accurately.
• Reviewing and editing of all communications from external auditors to University Board of Trustees and senior management such as University Audit Plan; University Engagement Letter; University quarterly review reports; University annual audit report; management letter comments and responses; single audit in accordance with uniform guidance; and provide oversight to ensure the University’s compliance with federal, state, local and international tax compliance.
• Proactively influence emerging accounting, reporting and internal control trends and proposals being developed by authoritative bodies such as SEC, FASB, EITF and AlCPA by representing the University on various national industry committees and working groups including active leadership and participation on the NACUBO Accounting Practitioners Council (APC); active leadership and participation on the Ivy Plus Controllers Group; presenting to various Ivy peer groups in areas such as Research and Gifts; and communication and cooperation with the FASB NFP Advisory Board.
• Performs other related work as needed