Director, Finance - DIL

About the department

The Development Innovation Lab at the University of Chicago uses the tools of economics to develop innovations with the potential to benefit millions of people in low- and middle-income countries. It was founded and is led by Nobel laureate Michael Kremer.

Job summary

The Finance Director will oversee financial and grant-related activities for the Development Innovation Lab (DIL). 

This role oversees financial management of the Lab, compliance with university and external funding regulations, and is responsible for the successful life-cycle management of grants, gifts and internal funds. The Director is responsible for the financial management of funds from multiple sources, including grants and gifts from foundations and government as well as internal University budgets. The Director will manage a team of professional staff. 

This Director will work collaboratively with a range of Lab staff to set up systems to help the team oversee the finances for their projects. This includes managing operating budgets for the Lab, including leading an annual and quarterly budgeting process. They will report regularly to Lab leadership and managers of individual projects and grants on the current financial situation of their areas, flag concerns and, as appropriate, provide recommendations for action. The Finance Director will also work closely with the Lab’s leadership to analyze the Lab’s overall financial picture, including analyzing risks and opportunities. 

This position serves as a key liaison between DIL and central university offices. The Director will work routinely with the Director of Financial Operations for the Social Sciences Division, the University Budget Office, and University Research Administration to ensure alignment on financial reporting, budget processes, and policy compliance. This includes preparing financial reports for the University and donors.

Responsibilities

• Lead and manage a team of grant and finance managers who are responsible for managing project-level budgets with research teams for funding proposals, managing project spending through the project, and reporting regularly to donors. 
  • Supervise and mentor the finance and grants staff; establishes performance goals and allocates necessary resources.
• Provide financial analysis and strategic guidance to the leadership team as they make unit-wide financial decisions. 
  • Provide reports at least quarterly analyzing the Lab’s financial performance including analyzing spending against annual fiscal year budgets.
  • Provide regular financial advice and ideas. 
  • Regularly watch for financial risks and problems and discuss these issues with leadership. 
• Lead budgeting processes and oversee Lab’s financial picture 
  • Manage organization-wide budget development and budget process, including monthly forecasting, fiscal year close out, and reporting to the Unit, Provost, Dean, and Budget Office. Offering strategic guidance throughout the planning and reporting processes. This includes gathering budget requests from across many projects and consolidating them for leadership, including flagging issues and ensuring data validity. 
  • Track performance against budget and provide strategic advice to the Lab’s leadership team as well as regularly provide actuals to the project teams. 
• Oversee the Lab’s interactions with the University’s financial system, including but not limited to: 
  • Oversee and audit reporting within the University’s General Expense Management System (GEMS) system each month. This includes reviewing individual expenses charged to various Lab accounts for correctness, applicability, and compliance with any donor requirements.
  • Ensures compliance with University financial policies and procedures and builds systems that work for DIL culture that help ensure compliance and efficiency.
• Sponsored award oversight, including: 
  • Ensures adherence to University financial regulations and standards.
  • Stays updated on changes in financial policies, grant requirements, and best practices.
  • Manages, negotiates, and resolves financial compliance issues with various donors and University offices.
  • Oversees a team of people, including a grants manager and associates who manage the procurement of all goods and services for the Development Innovation Lab. This includes ensuring compliance with University requirements as well as with any restrictions related to grant or gift funding. 
  • Collaborates with other University departments such as the Unit Finance team, Budget office, URA, and other partners.
• Direct effective collaboration between the finance team and research and policy teams, acting as a thought partner and problem-solver of the diverse needs of the organization. 
  • Oversees the management of payroll allocations across funding sources, ensuring funds are used appropriately as budgeted and for the efficient use of donor or other funds. Responsible for working with Lab leadership to avoid over- or under-staffing of activities.
  • Manage time tracking system to aid leadership in project management and ensures grant and gift spending on salaries accurately aligns with staff effort.
  • Works collaboratively with Principal Investigators, Research Directors, Research Staff, and Lab partners to develop new projects, proposals, and other initiatives.
  • Develops, communicates, and implements financial policies and procedures. Communicates University guidelines and policies to staff and ensures that all expenses are compliant with those policies.
  • Develops and conducts in-house staff trainings around pre- and post-award administration.
  • Creates and directs processes to integrate international partner operational procedures and spending
• Perform other related work as needed. 

Minimum qualifications

• Education
  • Minimum requirements include a college or university degree in a related field.
• Work Experience
  • Minimum requirements include knowledge and skills developed through 7+ years of work experience in a related job discipline.

Preferred qualifications

• Education
  • A Master’s degree in business administration, finance, accounting, or a related field
• Experience
  • Demonstrated experience in operations, grant administration, finance, or other related fields.
  • Budget planning and forecasting, financial operations, and fiscal reporting.
  • Working in a higher education or non-profit environment.
  • Managing restricted funding such as endowments, sponsored awards, or contracts.
• Technical skills or knowledge
  • High-level proficiency with spreadsheets, computer applications such as Word, Excel and accounting systems.
  • Familiar with financial and accounting systems used in large organizations, such as Workday or Oracle/Peoplesoft.

Preferred competencies

• Demonstrated leadership skills and experience managing multiple direct reports, including mentoring, training, and development.
• Engage effectively with a diverse workforce in a complex research environment.
• Exceptional verbal and written communication skills and comfortable with a consultative approach to interacting with employees.
• Exceptional organizational skills, with previous project management experience.
• A resourceful problem-solver and critical thinker who is proactive in leveraging opportunities, and anticipating and averting problems.
• Handle all employment information and issues with absolute discretion and confidentiality.

Working conditions

This is a hybrid position, with an expected 3 days in-person per week. Candidates will be expected to flexibly come into the office as needed.