The Art Institute of Chicago is seeking a Senior Accountant who will be responsible for creating and processing monthly and year-end journal entries such as accruals, prepaids, allocations, fund movements (including net asset releases), and adjusting entries. Will also be responsible for account reconciliations, grant reporting review, exhibition accounting review, and supporting the day-to-day operations of the Museum Finance Department. Primary duties include:
- Prepare and process journal entries such as accruals, prepaids, net asset releases and adjusting entries for the Museum. Included in this is the review for proper chartfield combinations, balanced entries, and other edits. Obtain proper supporting documentation and signature approval(s).These entries should be timely, accurate, and comply with the financial policies of the Institute and follow standard processes.
- Reconcile various general ledger accounts. Research discrepancies by working with the Museum, School, and/or Central to collect and analyze account information. Correct any errors by suggesting adjusting journal entries or suggesting system changes.
- Monitor art purchases to ensure that all procedures and restrictions are met.
- Prepare departmental financial reports, reimbursement requests, and draw-down of funds in strict adherence with funder requirements.
- Assist in the year-end audit. Responsibilities include, but not limited to, preparing audit schedules relating to balance sheet accounts and assisting the auditors in their inquiries.
- Perform other accounting, financial, or administrative tasks as may be required from time to time – quite often on short notice - for the Vice President of Museum Finance.
- Assist in the tracking of revenues and expenses related to the corporate, foundation, and individual grants awarded to the AIC. Also, assist with the preparation of budgets for the original grant proposals. Monitor applicable federal regulations for changes and updates to grants.
- Ensure all grants, contracts, and sub-grants are in compliance with funder requirements and internal policies and procedures.
- Provide support in the preparation and tracking of exhibition/program budgets and activity. Provide financial evaluation of expenses to exhibition/program managers.
- Review Museum Procurement Card activity.
- Assist fixed asset personnel in the proper recording of the Museum’s new purchases, disposals, and leases (operating/capital, lessee/lessor). This includes, but is not limited to, determining whether a purchase should be capitalized or expensed, obtaining the proper management authorizations, and documenting the rationale for the accounting treatment.
- Assist supervisor in streamlining processes and in developing best practice procedures.
- Assist with the preparation of financial reports in accordance with grant and fund requirements while maintaining proper accounting treatment.
- On a monthly basis, ensure that your back-up is informed about changes made to your areas of responsibility.