Finance Director, Development Innovation Lab

Department
 

Development Economics Center

About the Department
 

Development Innovation Lab (DIL) 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 all financial and grant-related activities for the Development Innovation Lab (DIL). This role is crucial in ensuring effective financial management, compliance with university and external funding regulations, and the successful acquisition and administration of grants. The Director leads a team of professional staff responsible for the financial management across multiple funding sources (grant, gift, and unrestricted).

This position manages a team of professional staff responsible for the financial management of operating and capital budgets for divisions and/or University-wide administrative units. Develops long and short term plans to achieve financial goals, business strategies/plans, and financial forecasts/models for all major service programs and initiatives. Manages quarterly and year-end reporting for the operating budget.

Responsibilities

• Develops and manages the annual budget 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.
• Oversees financial operations including accounting, budgeting, reporting, and auditing.
• Provides financial analysis and strategic guidance to the Leadership Team as they make unit-wide financial decisions.
• Ensures compliance with University financial policies and procedures.
• Works with the Leadership team to identify the funding needs of individual projects and the larger unit.
• Oversees a team of grant finance managers who are responsible for developing project-level budgets with research teams for funding proposals.
• Oversees and audits reporting within the General Expense Management System (GEMS) system each month.
• Directs and manages the procurement of all goods and services for the Development Innovation Lab via contracts, RFTs, purchase orders, GEMS. This includes ensuring compliance with University requirements as well as with federal foundations and the individual restriction of each grant and gift.
• Manages the development, monitoring, and evaluation of a consolidated annual and intermediate, typically three to five year, budget plan and budget process for a unit, as well as actual performance against budget.
• Manages the preparation of financial statements, activity reports, financial position forecasts, and/or reports required by regulatory agencies.
• Oversees the grants administration of the Development Innovation Lab and ensures compliance with University policies and sponsor guidelines and reporting requirements.
• Works collaboratively with Principal Investigators, Research Directors, Research Staff, and Urban Lab partners to develop new projects, proposals, and other initiatives.
• Works with University Research Administration to prepare budget summaries as required for sponsored project reports.
• Prepares interim sponsored project financial reports and manages award closeout processes.
• Maintains communication with University and sponsor agencies.
• Leads annual budgeting and planning process; administers and reviews all financial plans and budgets; monitors progress and changes; and keeps unit leadership team abreast of financial performance and position.
• Oversees the management of payroll allocations, employee credit card program, out-of-pocket expense reimbursements, electronic check payments, purchase requisitions, and invoicing.
• Develops, communicates, and implements financial policies and procedures such as Travel and Entertainment. Communicates established guidelines that were created in light of current budget, University policies, and funding restrictions. Audits expenses as they come in to ensure they are compliant with policies.
• Manages time tracking system to aid leadership in project management and ensures grant and gift spending accurately aligns with staff effort.
• Develops and conducts in-house trainings around pre- and post-award administration.
• Creates and directs processes to integrate international partner operational procedures and spending.
• Provides direct supervision and mentorship to the finance and grants staff; establishes performance goals and allocates necessary resources.
• Serves as the liaison between the Labs and external financial entities.
• Collaborates with other University departments such as the Unit Finance team, Budget office, URA, and other partners.