The Art Institute of Chicago is seeking an Accounting Manager that will supervise the account reconciliation of balance sheet accounts including, but not limited to, cash, investments, property and equipment, accounts receivable and debt. Manages the accounting and reporting of all capital expenditures, including recording depreciation/amortization, and accounting for the disposition and transferring of fixed assets.
PRIMARY DUTIES AND RESPONSIBILITIES:
Directs the preparation of balance sheet account reconciliations and analyses. Analytically reviews reconciliations, trial balances, and reports.Works with accounting staff to identify, analyze and resolve reconciling items on a timely basis.
Oversees the accounting for the Institute’s diversified and complex investment pool, including the recording and reconciling all related accounts to the general ledger and custodian statement. Maintains relationship with the investment custodian in relation to accounting and recording investments and transactions.
Oversees the reconciliation of the Institute’s bank accounts and works with Treasury to identify any changes in the banking and account structures. Oversees the reconciliation of the depository and disbursing bank accounts for the organization.
Manages the oversight of the Institute’s capital accounting process, including, but not limited to:
Supervising the Senior Accountant responsible for capital and reviewing fixed asset journal entries and work papers
Maintenance of the fixed asset listing and associated depreciation/amortization schedules for the Museum, School, and Central departments.
Ensures proper recording and accounting treatment of new purchases, disposals, and leases. Track the compilation of project costs into fixed asset accounts and close out those accounts once the related projects have been completed. Investigate the potential obsolescence of fixed assets.
Manages the proper accounting for leased space and maintain square footage database
Works with the Museum, School, and Central departments in determining the capital budgets and calculating the related depreciation.Track monthly capital project spending in comparison to the budget and distribute to project managers
Makes recommendations to management on updates to accounting policies related to fixed assets
Assists with the preparation of Buildings and Grounds Committee materials as needed
Prepares, reconciles and records monthly debt-related transactions, including interest payments, amortization of debt issuance costs and bond premiums and discounts.
Prepares information for external debt reporting, including calculation of debt covenants and liquidity ratios.
Identifies and implements accounting processes and best practices to gain efficiencies and maintain proper segregation of duties within areas of responsibility. Documents processes and procedures as needed.
Assists in the year-end audit.Responsibilities include, but are not limited to, preparing audit schedules relating to fixed assets, debt and other balance sheet accounts and assisting the auditors in their inquiries.
Assists with the preparation and analysis of quarterly financial statements as directed by the Assistant Controller.
Maintains a strong technical accounting understanding by participating in educational opportunities, reading professional publications, maintaining personal networks, and/or participating in professional organizations.
Bachelor’s degree required in Accounting or Business degree with equivalent Accounting experience; CPA required.
Minimum 5 years accounting experience, at least 3 in a supervisory capacity. Not-for-profit experience preferred.
Must be detail-oriented, organized, and proficient with Excel.PeopleSoft, Raiser’s Edge, and familiarity with online financial reporting preferred.
Ability to work cooperatively and collaboratively with all levels of employees and management.
Experienced in establishing and documenting accounting processes and procedures
The Art Institute of Chicago is an equal opportunity, equal access employer fully committed to achieving a diverse and inclusive workplace.
About The Art Institute of Chicago
The Art Institute of Chicago is a world-renowned art museum housing one of the largest permanent collections in the United States. It is encyclopedic in nature with strong holdings across all media, all traditions and all ages. The Art Institute is particularly recognized for its extraordinary Impressionist, Modern, Contemporary and American collections, among other aspects of its holdings. In addition to housing its permanent collection, it typically stages 35-40 special exhibitions a year. In 2014, it was named by Trip Advisor travelers as the number one museum in the world, a remarkable recognition that speaks not only to the quality of the collection but to the entirety of the visitor experience.
The Art Institute welcomes between 1,400,000 and 1,800,000 visitors a year and has a membership of 100,000. The museum has an annual operating budget of approximately $110 million.
Founded in 1879, the Art Institute grew with the success of Chicago and quickly attained world class stature given the strength of its collection. The Art Institute has expanded several times in its history, most recently and notably with the opening in 2009 of the 264,000 square foot Modern Wing desi...gned by internationally acclaimed architect Renzo Piano. The addition has been critically important to the museum as it not only provided much needed gallery space, but also allowed the Art Institute to reorganize its galleries to present the collection in a more logical and accessible fashion. The new addition also includes one of the largest education facilities at any museum and this center has allowed the Art Institute to expand its already impressive array of offerings.