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Director of Finance/ Controller

Chicago, Chicago, Illinois, United States of America Req #56
Thursday, March 28, 2019
The mission of the American Osteopathic Association is to advance the distinctive philosophy and practice of Osteopathic Medicine.


This position is responsible for the financial management of the American Osteopathic Foundation (AOF), which includes: financial governance reporting; annual audit preparation; monthly reports and reconciliations; annual financial statements and 990; accounts payables and receivables; payroll and benefits; annual policy review; and all other financial needs.

This position establishes and maintains internal accounting practices and principles to ensure accurate and reliable data necessary for business operations. The Finance Director supports the Finance/Audit committee; prepares monthly financial statements; creates and monitors organizations budget; directly staffs annual audit; oversees state charitable registrations; monitors credit cards and reconciles all bank statements monthly; works with investment portfolio manager; and manages the Foundation’s net assets.  In addition, the Director examines, analyzes and interprets accounting records for the Chief Executive Officer and the Finance/Audit Committee.


Primary duties include, but are not limited to:

Corporate Governance:
• Ensure compliance with applicable laws and regulations through awareness and implementation of new laws and/or general accounting standards for non-profits.
• Identify operating and reporting risks that could affect the Foundation’s operations. Take appropriate actions to mitigate risks by developing consistent, cohesive policies and procedures for internal controls.
• Ensure internal controls are periodically monitored and tested to cover current risks.
• Annually oversee distribution and collection of the Confidentiality & COI Policy.
• Ensure proper authorization of activities and expenditures.
• Review the tax-exempt status and identify activities that could jeopardize this status.
• Support the Finance/Audit Committee on an ongoing basis.

Accounts Payable/Receivable and General Ledger:
• Create and maintain accounts payable/receivable transactions in an efficient manner to facilitate an effective audit process.
• Prepare timely, and accurately record all, accounts payable transactions, prepare check disbursements to ensure timely payment to vendors, perform month-end reconciliations, accrue all month-end expenses in the month of occurrence, and file all accounts payable correspondence in an orderly fashion.
• Process/prepare and distribute annual IRS 1099’s.
• Prepare invoices and record all accounts receivable, cash receipts and credit memo transactions in computerized system (Dynamics) to ensure Generally Accepted Accounting Principles (GAAP) are followed.
• Manage accounts receivables to ensure expeditious collection of invoiced amounts.
• Create and maintain filing systems to ensure the expeditious retrieval of information.

Financial Statements:
• Ensure monthly and quarterly financial statement accuracy, integrity, and reliability. Develop and maintain templates for presentation of financial statements. Prepare and distribute monthly financial statements (with budget comparisons), donor report, and statement of cash flows. 
• Prepare a letter to the Board summarizing activities, significant variances and/or changes and include with the monthly statements.
• Distribute financial statements to the AOF Finance/Audit Committee and AOF CEO.

• Prepare, monitor, and manage AOF annual budget.  Determine budget allocations after careful review and evaluation of prior year(s) activity, and discussions with AOF staff regarding programs or activities planned for the budget year.  Present to management and the Finance/Audit Committee for approval then the AOF Board of Directors for final approval.
• Enter annual budget into the financial accounting computerized system (Dynamics). 

• Analyze data and prepare reports as requested by audit team prior to, during and after audit fieldwork.  Review draft reports presented by auditors and make changes as needed.  Work closely with auditors during the entire process to ensure an accurate and timely report for AOF Finance/Audit Committee, Board of Directors and donors. Audit completion anticipated in March/April every year.
• Oversee RFP and selection process in concert with AOF Finance/Audit Committee for new audit agreement every 3 years.

Form 990 Preparation/State Registration:
• Prepare all reports and data as requested by Form 990 preparers; make changes as needed.  Final 990 is submitted electronically by preparers to Internal Revenue Service. 
• Work with vendor (Labyrinth) to file annual State Registration for Charitable Organizations in all states requiring registration.

• Serve as staff liaison to investment manager (Vanguard).  Prepare month-end reconciliation of investment activity and any reports as requested by the CEO during the month.  Monitor/analyze and report on investment activity as needed.
• Conduct annual review of spending/investment Policy with Finance/Audit Committee.
• Oversee RFP and selection process in concert with AOF Finance/Audit Committee for new investment agreement every 3 years (or before based on returns/fees).

• Serve as primary staff liaison; in concert with the CEO.
• Prepare month-end reconciliation of bank statement(s) and any reports as requested by the CEO during the month.
• Serve as second signatory for accounts payable.
• Monitor/analyze account balances and suggest/request changes as needed. 
• Oversee credit card process and reconciliation.

• Business Owners Liability / Workers Compensation / Crime / Directors  & Officers policy - work with vendor(s) to ensure adequate/appropriate coverage at the best possible cost.
• Review bi-monthly payroll, deductions, and make the appropriate reporting in Dynamics.
• Prepare W-2’s and I-9’s as needed.
• Ensure that federal and state reporting is filed annually.

Donor contributions:
• Enter information to computerized accounting system (Dynamics) prior to month-end closing. 
• Analyze data and reconcile with Raisers Edge System monthly.
• Work with Development Department to prepare weekly donor report for CEO.  Maintain appropriate support documentation.

Student Loan Program:
• Monitor and evaluate activities conducted by University Accounting Systems (UAS) the Foundation’s billing outsourcer and NCO Financial Services, Inc, (NCO) the Foundation’s collection service provider.  Analyze data and prepare month-end reconciliation of UAS and NCO reports and related General Ledger transactions.  Monitor and maintain an adequate reserve for bad debt.


Special Projects: 
• Provide support for any projects that may come before staff and or Board. Assist with preparation for annual Honors event and monitor, YOY budget and revenue

• Director is expected to attend all Finance Committee Meetings.
• Director is expected to attend, in person or by phone, all AOF Board Meetings.
• Prepare agenda and materials for the Finance/Audit Committee meetings/conference calls.
• Responsible for minutes of all Finance/Audit Committee.

Other duties as assigned.


A. Education:  Bachelor's Degree in Accounting/Finance

B. Experience:  Seasoned leader with 8-10 years of broad finance experience in a professional, non-profit office environment, followed by experience gathering and evaluating financial information and making actionable recommendations to senior leadership. Prior Committee support preferred.  Previous experience with non-profit audit strongly preferred.

C. Licensure or Certification:  CPA preferred


Forecaster or similar accounting experience preferred.
Background in tax code and other related regulations.
Experience managing finance (accounting, budgeting, control, and reporting).
Auditing background.
Experience working in the non-profit sector.


Physical requirements: Position does not call for any difficult physical demands.

Environmental Requirements: Clean, smoke free office environment. 


Goal oriented, fast-paced, with a focus on service excellence.  Able to handle multiple responsibilities simultaneously.

This position is vital to the success of AOF and the person must bring, in addition to professional knowledge, a personality to work with numerous individuals (board members, staff, clients, donors, vendors, etc.). 

AOF is a collaborative, innovative, and open environment that asks its staff to be responsible for multiple programs, utilizing a variety of skills.

AOA is an Equal Opportunity Employer who fully and actively supports equal access for all people regardless of Race, Color, Religion, Gender, Age, National Origin, Veteran Status, Disability, Genetic Information or Testing, Family and Medical Leave, Sexual Orientation and Gender Identity, expression or any other characteristic protected by applicable federal, state, or local laws.  We prohibit retaliation against individuals who bring forth any complaint, orally or in writing, to the employer or the government, or against any individuals who assist or practice in the investigation of any complaint, or otherwise oppose discrimination. We strongly encourage women, minorities, individuals with disabilities and veterans to apply to all of our job openings.

Other details

  • Pay Type Salary
  • Required Education Bachelor’s Degree
  • Chicago, Chicago, Illinois, United States of America