About the Role

Under the direction of the CEO & Managing Director of Illinois Ventures, LLC, the Chief Financial Manager and Director of Operations will oversee all financial, regulatory and operational aspects of Illinois Ventures, LLC, and its associated funds & entities. The Chief Financial Manager and Director of Operations plays a critical role in ensuring the organization’s financial health and regulatory compliance while optimizing operational efficiency. This position will also collaborate cross-functionally to improve processes, maintain financial controls, and execute strategic initiatives.

Responsibilities

Financial Management, Reporting and Oversight

1. Administer all financial systems for Illinois Ventures, LLC and associated LLCs, including budgeting, forecasting, and financial planning.
2. Process invoices and perform accounts payable and accounts receivable activities in order to ensure complete and accurate records.
3. Oversee banking and treasury operations, ensuring effective cash flow management and bank reconciliations.
4. Prepare financial reports, including monthly financial statements, year-end financials, and detailed revenue-expenditure projections.
5. Prepare annual budgets and financial statements for the Illinois Ventures Board of Managers.
6. Prepare and reconcile all financial accounts for Illinois Ventures and associated entities.
7. Manage audits, including overseeing and coordinating internal and external audit processes, preparing schedules, and responding to inquiries.
8. Maintain accurate and up-to-date financial records across all Illinois Ventures entities.
9. Oversee fund accounting and preparation of quarterly reports for private Limited Partner funds
10. Create and maintain waterfall calculations and provide a leadership role around portfolio company valuations.
11. Oversee and coordinate all financial and investment-related documents associated with all portfolio companies.

Operational Leadership and Process Optimization

1. Oversee daily operations of the LLCs and provide support to the CEO and Managing Director
2. Develop and optimize operational processes to improve organizational efficiency and effectiveness.
3. Support the CEO and Managing Director on operational matters such as insurance renewals, contract management, and vendor relations.
4. Manage external contractors, including an external part-time CFO and accounting teams, ensuring clear communication and effective collaboration.
5. Provide strategic guidance for operations, offering solutions and optimizations for complex organizational challenges.
6. Oversee operational reporting processes to ensure accurate and timely delivery of information to stakeholders.

Regulatory and Compliance Management

1. Ensure compliance with all federal, state, and industry-specific regulations governing financial and operational processes.
2. Implement and maintain effective policies and procedures related to financial controls, procurement, data security, and risk management.
3. Oversee creation and/or updates to policy and procedure manuals and serve as the point of contact for administrative guidelines including procurement policy, ethics, conflict management, and other responsibilities for the unit.
4. Responsible for purchasing, establishing new contract and vendors including working with University procurement and other units regarding compliance.
5. Work closely with IT, legal, and compliance teams at the University, address regulatory requirements and minimize risk exposure.

Risk Management

1. Develop and oversee internal controls to mitigate operational and financial risks.
2. Owns the end to end insurance procurement process including interactions with the insurance broker.
3. Communicate risk management strategies across the organization.
4. Collaborate with leadership to proactively address risks and ensure continuity in operations.

Other Responsibilities

1. Undertake other duties and responsibilities appropriate for a Chief Financial Manager and Director of Operations

Qualifications

1. Bachelor’s degree in Accounting, Business, Finance, or a closely related field.
2. Minimum of 5 years of relevant accounting, auditing, or finance experience

Preferred

1. Masters degree in a closely related field.
2. CPA certification.
3. Work experience in venture capital, private equity, investment banking, or financial management.

KNOWLEDGE AND EXPERIENCE

1. Demonstrated ability to manage complex financial systems and ensure accurate reporting.
2. Strong organizational and analytical skills, with keen attention to detail.
3. Proven experience with QuickBooks and advanced proficiency in Microsoft Office (Word, Excel, PowerPoint).
4. Excellent verbal and written communication skills tailored to a professional environment.
5. Ability to build collaborative relationships with team members and external stakeholders.
6. Skilled in solving complex challenges and ensuring timely, data-driven decision-making.
7. Knowledge of Banner and/or other university related financial systems
8. Experience in technology-based entrepreneurship and familiarity with compliance within regulated industries.
9. Familiarity with venture-backed portfolio valuation models and fund accounting practices.
10. Demonstrated success in process optimization and organizational improvement.

APPOINTMENT INFORMATION

This is a Full Time academic professional position. The expected start date is 6/30/2025. Sponsorship for Work Authorization is not available for this position. System Office jobs such as this one are not eligible for the Referral Program.

The budgeted salary range for the position is $130,000.00 – 160,000.00. Salary is competitive and commensurate with qualifications and experience, while also considering internal equity.

Benefits eligible positions include a comprehensive benefits package which offers: Health, Dental, Vision, Life, Disability & AD&D insurance; a defined benefit pension plan; paid leaves such as Vacation, Holiday and Sick; tuition waivers for employees and dependents.

To apply, please use this link: https://go.illinois.edu/ChiefFinancialManagerDirectorofOperations