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  • INVESTMENT OFFICER CHIEF FINANCIAL OFFICER / CHIEF OPERATING OFFICER

  • Report to the Executive Director/Chief Investment Officer (“ED/CIO”)
    Application Deadline: October 14, 2022

     

    Responsibilities

     

    The Chief Financial Officer / Chief Operating Officer (“CFO/COO”) is responsible for the execution of all administrative functions of the agency. The CFO/COO is also available to advise and assist the ED/CIO and other senior staff in matters related to portfolio operations, business operations, agency accounting and external auditing related matters pertaining to portfolio compliance, internal investment operations and administration. Subject to administrative approval of the Executive Director, the CFO/COO is responsible for development and implementation of all investment financial controls, regulations and total management of investment accounting and financial functions for the agency.

     

    The CFO/COO will have the following specific responsibilities, which shall include, but not be limited to:

     

    Business Operations

     

    1. Oversee all office business operations activities as performed by ISBI staff.

     

    2. Oversee recurring vendor contract management and accounts payable voucher processing activities.

     

    3. Oversee administrative aspects of ISBI human relations processes including new employee onboarding, benefits administration, ongoing personnel training, and employee offboarding.

     

    4. Provide oversight, with active leadership/support from the Chief Information Officer, of all operational and compliance aspects of ISBI’s technology environment, including security and logical access, hardware/software sufficiency, documentation retention, external website content management, and disaster recovery planning. Advise the ED/CIO regarding technology needs and goals for ISBI.

     

    5. Act as office space management leader for primary ISBI office location including overseeing office building management company relationship, office security process design and execution, office space use and transition management, and office maintenance request management.

     

    6. Manage annual agency insurance review and procurement processes.

     

    7. Supervise Portfolio Officer for Business Operations and Accounting and Chief Information Officer.

     

    Agency Accounting and Audit

     

    1. Serve as senior policy advisor formulating administrator in planning, directing, implementing and administering all aspects of financial accounting and auditing administration for ISBI.

     

    2. Serve as an expert authority in collaboration with the ED/CIO in the planning and development of all aspects of investment accounting administration. Responsible for the direction, implementation and on-going administration of investment portfolio accounting and auditing policies, procedures and guidelines.

     

    3. Serve as primary point of contact regarding the status of initiatives and strategic goals on investment financial issues with the Custodian Bank, Office of the Auditor General, internal audit firm, and various investment and government entities to respond to inquiries and provide substantiations regarding submitted financial information requests.

     

    4. Oversee preparation of budget submitted on an annual basis including requests for supplemental information.

     

    5. Monitor the verification process performed by the Portfolio Officer of Financial Reporting and Accounting verifying ISBI investment managers’ compliance with financial reporting mandates and conformity with ISBI financial reporting requirements to ensure that the valuation of the ISBI investment portfolio is performed in accordance with Generally Accepted Accounting Principles (GAAP).

     

    6. Staff the Audit and Compliance Committee meetings and coordinating the participation of relevant ISBI Staff. Supervise the preparation of all Audit and Compliance materials and agendas to be submitted at meetings.

     

    7. Assist in the accounting and audit responsibilities of the State of Illinois Deferred Compensation Plan.

     

    8. Supervise Portfolio Officer of Financial Reporting and Accounting and Professional Services Intern.

     

    Portfolio Operations

     

    1. Oversee ISBI portfolio management efforts, including custodian transaction execution, monitoring and issue resolution, cash/security movement execution, custodian accounting reporting review, foreign and domestic portfolio tax matter resolution, and other ad-hoc portfolio operations needs as identified by the ISBI investment team, custodian, strategic partners, or asset managers.

     

    2. Supervise Investment Officer – Portfolio Operations Lead.

     

    Cross Functional Responsibilities

     

    1. Oversee the development and implementation of policies/operating manuals and control procedures to provide accountability over all responsible ISBI functions including portfolio operations, business operations, and agency accounting/audit.

     

    2. Act as senior advisor to the ED/CIO and the Board regarding portfolio operations, business operations, and agency accounting and audit functional area topics.

     

    3. Ensure compliance with the Board’s policies including various diversity-related initiatives that are non-investment related outlined in the Diversity Policy. In addition, to generate new ideas and initiatives as they relate to diversity, consistent with the Board’s policies.

     

    4. Other cross-functional or individual duties as required or assigned.

     

    Requirements

     

    • Bachelor’s degree in accounting or related field. CPA or applicable advanced degree preferred.

     

    • Minimum of six years professional experience in developing policy in financial matters and/or directing a complex investment accounting system, experience in investment, public or private accounting, auditing or financial field.

     

    • Strong written and oral communication skills. Knowledge of computer networks and various applications such as Microsoft Office and Windows.

     

    • Knowledge of investment policy matters and proven ability to communicate effectively.

     

    • Ability to work in an office environment subject to frequent interruptions and to communicate with co-workers/third parties via video conference, email, and telephone; involves sitting at a desk for prolonged periods and potential light lifting.