Chief Financial Officer

Location
Chicago, IL, US
Salary
Competitive
Posted
Sep 05, 2019
Ref
1900023V
About Chicago Public Schools

Chicago Public Schools (CPS) is the third largest school district in the United States with a budget of nearly $8 billion, serving over 360,000 students in 600+ schools and employing nearly 36,000 people, most of them teachers. CPS has set ambitious goals to ensure that every student, in every school and every neighborhood, has access to a world-class learning experience that prepares each for success in college, career and civic life. In order to fulfill this mission we make three commitments to our students, their families and all Chicagoans: academic progress, financial stability and integrity. Six core values are embedded within these commitments - student-centered, whole child, equity, academic excellence, community partnership and continuous learning.

About the Chief Financial Officer Role

CPS is seeking a Chief Financial Officer (CF O) who can effectively lead the comprehensive fiscal stewardship of the district's resources. Reporting to the Chief Executive Officer (CEO), the CFO is a senior cabinet member responsible for spearheading CPS' financial strategy to support effective budget planning, maximiz ing available funds, and ensur ing an equitable distribution of resources to support student success based on the district's vision. The CFO is an advisor and collaborator with district and city leaders, and is responsible for the administration and oversight of all financial activities within the Finance Office including Corporate Accounting & Disbursements , Treasury & Risk Management , Payroll Services , and Budget & Grants Management .

Duties and Responsibilities

The Chief Financial Officer will be accountable for the following areas of responsibility:

Strategic District Leadership

  • Identify and lead the implementation of strategic financial strategies that maximize available funds, and ensure equitable distribution of resources across the district to support student success.
  • Provide strategic leadership to develop the district's annual budget and multi-year financial plans in conjunction with the Chief Executive Officer and Board of Education.
  • Spearhead, in collaboration with members of the senior leadership team, annual capital planning and monitoring processes so that capital expenditures reinforce broader programmatic goals.
  • Maintain knowledge of State and Federal laws governing the oversight of school district finances. Partner with the Illinois State Board of Education, the City of Chicago, state and other local organizations and partner with regard to fiscal impacts and strategy as needed.


Financial Planning Unit Supervision

  • Serve as lead representative for the district on budgetary matters in a variety of venues, including public hearings, Board meetings, media briefings, and external stakeholder and community meetings.
  • Support the Budget Director to facilitate the preparation and presentation of monthly budget reporting and annual projections for all aspects of the CPS budget; collaborate with directors and team leaders to ensure accuracy of analysis and data in departmental reports.


Department Leadership

  • Manage the performance and effectiveness of the Finance Office, including the successful implementation of financial and budget goals, effective controls and monitoring of the district's budget, efficient operational processes, and excellent service to schools and district offices.
  • Direct the receipt, management of investments and expenditu res of the district's funds including meeting with credit issuers and external organizations to develop long-term sustainable financing terms and agreements that maximize the districts returns
  • Forecast short- and long-range cash requirements and obligations as a basis for sound financial and equitable funding mechanisms.


Key Competencies

The ideal Chief Financial Officer candidate will demonstrate the following attributes:

Influence and Leadership

  • Navigates political structures, relationships, and dynamics to improve results for students.
  • Prepares the CEO and cabinet for effective decision-making conversations, anticipating and organizing key questions and data that support productive discussions to direct key fiscal priorities.
  • Builds coalitions and works collaboratively with diverse stakeholders at all levels of the organization


Team Engagement and Management

  • Gains the trust and respect of all staff, cultivating personal accountability among staff for excellent service, problem solving, and efficient budget processes.
  • Leads a large, diverse staff; delegates and leverages the team effectively to achieve ambitious goals.


Strategic Planning and Effective Execution

  • Exhibits outstanding critical thinking skills, including the ability to analyze data, identify trends, pinpoint problems and root causes, ask probing questions, and develop innovative solutions.
  • Demonstrates excellent execution and leadership skills and the ability to succes sfully lead employees in balanc ing multiple projects with clear deadlines
  • Collaborates with civic and political leaders in the commitment to securing more equitable state funding for schools and districts.


Financial Management Expertise

  • Demonstrates a high level of financial planning and budget management expertise with a multi-billion dollar annual budget designed to increase equitable access for stakeholders, and to amplify student achievement outcomes.
  • Emphasizes the importance of the Financ e Office's essential role serving the district's students, families, staff, and community partners in interactions and communication with internal and external stakeholders.
  • Understands Student-Based Budgeting (SBB) and how to support functional team leaders to build capacity in school leaders to employ equitable, economical, and efficient SBB practices to amplify access and opportunities for students in every school.
  • Evaluates funding models and identifies opportunities to increase equitable access to resources for historically underrepresented populations of students


Minimum Qualifications

  • Graduation from an accredited college or university with a Bachelor's in Accounting, Finance, or a related career field. MBA, Master's, and CPA designation preferred.
  • At least ten (10) years of progressive, full-time, professional experience in budget leadership, public policy, public administration, or business management.
  • Must have direct experience budgeting, budget preparation, financial monitoring, and financial analysis and evidence of success leading and managing a multi-million dollar budget. Public sector work experience strongly preferred. A minimum of seven (7) years of senior level supervisory experience required.
  • Thorough knowledge of various types of public budgeting practices, policies, procedures, and challenges.
  • Excellent written and oral communication skills.
  • Experience in implementing comprehensive financial management systems, practices, and policies for an organization of significant size


Residency Requirement

As a condition of employment with the Chicago Public Schools (CPS), employees are required to live within the geographic boundaries of the City of Chicago within six months of their CPS hire date and maintain residency throughout their employment with the district.

For More Information:

We strongly encourage interested applicants to review recent CPS Budget materials available at www.cps.edu/budget .

To view more information about CPS' vision, commitments and core principles please visit http://www.cps.edu/Pages/AboutCPS.aspx . #LI-AH1

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