Chief Financial Officer
Apply NowCompany: Children's Place Association
Location: Chicago, IL 60629
Description:
Job Title: Chief Financial Officer
Department: Executive Leadership / Administration
Reports To: CEO
FLSA Status: Fulltime / Exempt
Location: Chicago, IL 60603
SUMMARY
The Chief Financial Officer (CFO) is a key member of the Executive Team, responsible for the strategic and
operational oversight of all financial functions at Children's Place Association. The CFO ensures the organization's
financial health and sustainability by leading financial planning, budgeting, compliance, and reporting. Reporting to
the CEO, the CFO collaborates with the Executive Team, Board of Directors, Program Managers, and external
partners to develop financial strategies that advance the agency's
mission.
ESSENTIAL DUTIES AND RESPONSIBILITIES
Financial Strategy & Leadership
Develop and implement financial strategies aligned with the organization's mission and long-term goals.
Serve as a key advisor to the CEO, Executive Team, and Program Managers on financial implications of strategic initiatives.
Lead the Fiduciary Committee of the Board, providing insights on financial performance, risks, and opportunities.
Serve as the primary liaison with government finance administrators and external auditors.
Financial Management & Reporting
Oversee all financial operations including accounting, fund accounting, financial systems, accounts payable/receivable, and cash flow management.
Ensure accurate, timely, and complete internal and external financial reports, including IRS, DCFS, IDHS,
Start Early, City of Chicago, and all other funder regulatory filings.
Manage relationships with banks, auditors, and financial service providers.
Monitor agency cash flow and liquidity; recommend borrowing, asset liquidation, or investment strategies as needed.
Coordinate the annual audit process and prepare year-end account reconciliations.
Budgeting & Forecasting
Lead development of the annual agency-wide budget and monitor actual vs. budget performance throughout the year.
Develop and maintain long-term financial forecasting models.
Conduct cost analyses to support contract negotiations, rate appeals, and budget amendments.
Prepare shared cost allocations for direct and indirect costs associated with staffing and operating the agency.
Contract and Grant Management
Oversee financial aspects of government and private contracts, including billing, reporting, and compliance.
Partner with Philanthropy to secure and maintain NICRAs.
Support the Philanthropy team with financial data and cost justifications for grant applications.
Track contract objectives and notify staff of budget variances or performance deviations.
MIS, Purchasing & Inventory
Oversee design and optimization of accounting and management information systems.
Review and authorize purchase orders; ensure budget alignment and cost-effectiveness.
Partner with Operations to implement inventory control systems and negotiate major equipment, lease, and service contracts.
Compliance & Quality Assurance
Ensure full compliance with financial regulations and reporting requirements.
Annual fiscal policy review.
Participate in organization-wide quality assurance efforts to enhance service quality and compliance with licensing and accreditation standards.
SUPERVISORY RESPONSIBILITIES
The Chief Financial Officer leads a team of four professionals: Senior Accountant, Staff Accountant, Fiscal Grants
Manager, Accounts Payable & Procurement Specialist.
EDUCATION and EXPERIENCE
Advanced degree in accounting, finance, or related field required, CPA highly preferred.
Minimum of 10 years of progressively responsible experience in financial management, including 5years in nonprofit or human services settings.
Demonstrated expertise in fund accounting, government contracts, and nonprofit financial operations.
Proficiency in financial software, including MIP and accounting databases (or similar tools).
Strong leadership, communication, and team-building skills.
Ability to explain complex financial information to non-financial stakeholders.
Must be highly organized, flexible and able to manage multiple projects and employees.
Must have excellent written and verbal communication skills.
WHY JOIN US?
At The Children's Place Association, we are committed to empowering children and families by providing comprehensive support services that foster stability and resilience. This is an opportunity to lead a team of skilled finance professionals in the ongoing effort to be a fiscally robust and sustained agency. If you are a dedicated leader with a passion for excellence and have the skill for identifying and deploying process improvements, this opportunity might be for you.
STATEMENT ON WORKPLACE CULTURE
Employees shall respect the diversity of all individuals (e.g., clients, co-workers, stakeholders) and refrain from any form of discrimination and/or harassment based on religious, marital, ethnic, racial, gender, age, sexual orientation or other differences. The Children's Place Association strives to cultivate a work environment that honors the voices and lived experiences of every member of the staff. Therefore, all employees share the responsibility of creating and cultivating a welcoming and supportive work environment.
Pay Range: $130,000 - $145,000 per year
Department: Executive Leadership / Administration
Reports To: CEO
FLSA Status: Fulltime / Exempt
Location: Chicago, IL 60603
SUMMARY
The Chief Financial Officer (CFO) is a key member of the Executive Team, responsible for the strategic and
operational oversight of all financial functions at Children's Place Association. The CFO ensures the organization's
financial health and sustainability by leading financial planning, budgeting, compliance, and reporting. Reporting to
the CEO, the CFO collaborates with the Executive Team, Board of Directors, Program Managers, and external
partners to develop financial strategies that advance the agency's
mission.
ESSENTIAL DUTIES AND RESPONSIBILITIES
Financial Strategy & Leadership
Develop and implement financial strategies aligned with the organization's mission and long-term goals.
Serve as a key advisor to the CEO, Executive Team, and Program Managers on financial implications of strategic initiatives.
Lead the Fiduciary Committee of the Board, providing insights on financial performance, risks, and opportunities.
Serve as the primary liaison with government finance administrators and external auditors.
Financial Management & Reporting
Oversee all financial operations including accounting, fund accounting, financial systems, accounts payable/receivable, and cash flow management.
Ensure accurate, timely, and complete internal and external financial reports, including IRS, DCFS, IDHS,
Start Early, City of Chicago, and all other funder regulatory filings.
Manage relationships with banks, auditors, and financial service providers.
Monitor agency cash flow and liquidity; recommend borrowing, asset liquidation, or investment strategies as needed.
Coordinate the annual audit process and prepare year-end account reconciliations.
Budgeting & Forecasting
Lead development of the annual agency-wide budget and monitor actual vs. budget performance throughout the year.
Develop and maintain long-term financial forecasting models.
Conduct cost analyses to support contract negotiations, rate appeals, and budget amendments.
Prepare shared cost allocations for direct and indirect costs associated with staffing and operating the agency.
Contract and Grant Management
Oversee financial aspects of government and private contracts, including billing, reporting, and compliance.
Partner with Philanthropy to secure and maintain NICRAs.
Support the Philanthropy team with financial data and cost justifications for grant applications.
Track contract objectives and notify staff of budget variances or performance deviations.
MIS, Purchasing & Inventory
Oversee design and optimization of accounting and management information systems.
Review and authorize purchase orders; ensure budget alignment and cost-effectiveness.
Partner with Operations to implement inventory control systems and negotiate major equipment, lease, and service contracts.
Compliance & Quality Assurance
Ensure full compliance with financial regulations and reporting requirements.
Annual fiscal policy review.
Participate in organization-wide quality assurance efforts to enhance service quality and compliance with licensing and accreditation standards.
SUPERVISORY RESPONSIBILITIES
The Chief Financial Officer leads a team of four professionals: Senior Accountant, Staff Accountant, Fiscal Grants
Manager, Accounts Payable & Procurement Specialist.
EDUCATION and EXPERIENCE
Advanced degree in accounting, finance, or related field required, CPA highly preferred.
Minimum of 10 years of progressively responsible experience in financial management, including 5years in nonprofit or human services settings.
Demonstrated expertise in fund accounting, government contracts, and nonprofit financial operations.
Proficiency in financial software, including MIP and accounting databases (or similar tools).
Strong leadership, communication, and team-building skills.
Ability to explain complex financial information to non-financial stakeholders.
Must be highly organized, flexible and able to manage multiple projects and employees.
Must have excellent written and verbal communication skills.
WHY JOIN US?
At The Children's Place Association, we are committed to empowering children and families by providing comprehensive support services that foster stability and resilience. This is an opportunity to lead a team of skilled finance professionals in the ongoing effort to be a fiscally robust and sustained agency. If you are a dedicated leader with a passion for excellence and have the skill for identifying and deploying process improvements, this opportunity might be for you.
STATEMENT ON WORKPLACE CULTURE
Employees shall respect the diversity of all individuals (e.g., clients, co-workers, stakeholders) and refrain from any form of discrimination and/or harassment based on religious, marital, ethnic, racial, gender, age, sexual orientation or other differences. The Children's Place Association strives to cultivate a work environment that honors the voices and lived experiences of every member of the staff. Therefore, all employees share the responsibility of creating and cultivating a welcoming and supportive work environment.
Pay Range: $130,000 - $145,000 per year