Current Opportunities

THE OPPORTUNITY

The CFO/COO role is a new role at the MCA, designed to better address the financial and operational needs of the organization. Reporting to the Pritzker Director, the Chief Financial Officer / Chief Operating Officer (“CFO/COO”) will have day-to-day responsibility for planning, implementing, managing and controlling all financial and operational activities; ensuring that all business and support areas are properly coordinated with programmatic areas; serving as thought leader on organizational matters; overseeing and directing policies and procedures relative to museum operations; and leading efforts for process improvements and performance enhancements.

The CFO/COO will also serve as chief financial spokesperson; working closely with appropriate Board committees and members of the Board of Trustees to implement governance strategies; representing the museum at civic, social and professional events; in the absence of the Pritzker Director, the CFO/COO may be charged with pan-institutional leadership responsibility.

Key responsibilities of the CFO/COO include the following:

1. Ensuring that all business and operational aspects of the museum are in alignment with overall objectives and reflect the institution’s core artistic and educational values; setting high standards for integrity, productivity, professionalism, creativity, diversity and cooperation in the workplace.
2. As member of the Director’s Cabinet, working closely with all department heads to help them understand the financial and/or operational implications of the museum’s programming decisions.
3. Serving as the chief financial representative, responsible for ensuring the long-term fiscal health and viability of the institution, including:

1. Directing, supervising and improving the museum’s financial and budget process, including the framework for budget preparation and reporting, supervising budget control systems, monitoring budgets and forecasts.
2. Ensuring adequate funding, maximized investments and increase financial efficiencies by working closely with the Director of Finance on annual budgeting, reforecasting, risk management, and investment activities.
3. Managing the timely production of all financial reports including monthly financial statements.
4. Reviewing and questioning the monthly analysis of museum’s financial performance.
5. Managing cash flow and debt financing, ensuring the timeliness and accuracy of department compliance and acting as key liaison with Letter of Credits banks.
6. Reviewing the annual audit and control income / expenses.
7. Ensuring the accurate preparation of institutional taxes including: 990, 990-T, AG990, 5500-C/R, 941, 1099’s and others as required by museum activities; ensures the museum complies with all required tax filings and disclosures required for 501(C)3 organizations.
8. Stewarding all risk management activities.
9. Working with the Development team to create annual and long-term fundraising goals to support operational and program expenditure budgets.
10. Overseeing all treasury functions including managing cash, investment management and developing sustaining banking relationships; tracking and managing performance of endowment and cash investments, in consultation with professional investment advisors and in keeping with established policies and investment guidelines.
11. Negotiating and securing capital financing, including bond financing as appropriate; overseeing debt obligations and managing relationships with financial institutions.
12. Acting as fiduciary on retirement plans and overseeing the defined benefit and defined contribution retirement plans.

4. Offering leadership and mentoring to three key operating departments: Human Resources, Facilities and Operations and Earned Revenue; ensuring integrated efforts and systems to support museum’s programmatic departments in relationship to the fulfillment of the MCA’s mission, including but not limited to:

1. Ensuring the maximum financial contribution of all revenue generating activities of the museum by working closely with the Director of Earned Revenue to ensure that store, restaurant, catering, rental activities, admissions, membership, and parking operations reflect the institution’s high standards and remain competitive with both non- and for-profit competitors.
2. Ensuring the highest levels of employee diversity, engagement and performance by working closely with the Director of Human Resources to ensure appropriate recruitment, onboarding, compensation, benefits and professional development activities are in place and producing the desired results.
3. Ensuring the functional integrity of the physical plant by working closely with the Director of Facilities and Operations to address operational, aesthetic, safety, security, emergency preparedness and overall cleanliness / sanitation issues.

5. In consultation with the Pritzker Director, directing the museum’s long and short range strategic planning efforts, evaluating progress of museum activity against established goals and relevant benchmarks and ensuring plans are revised and updated as necessary to respond to market conditions such as shits in visitor demographics and/or needs.
6. Institutes rigorous financial planning and analysis processes for evaluating museum and staff performance, meeting goals and determining areas for potential revenue enhancement, cost reduction, program improvement and/or policy change.
7. Ensures internal control systems are properly designed, implemented, maintained and consistently adhered to; ensure key transaction systems (including fundraising, membership, store sales, admissions and ticketing, restaurant sales, rental sales, and parking revenues) are efficiently and fully implemented and regularly reconciled to the general ledger.
8. Maintains a high external profile within a network of civic and peer institutions to facilitate communication and potential collaboration; represents the MCA at professional gatherings as well as civic and/or social events.
9. Serves as executive representative to the Board of Trustees and multiple committees including but not limited to Governance, Executive, Audit, Finance, Building and Compensation committees.
10. Provides support to the Pritzker Director as required or requested; serves as Acting Director for the institution when required.

CANDIDATE PROFILE

The ideal candidate possesses the following professional and personal qualities, skills and characteristics:

Finance Expertise & Operations Acumen

The CFO/COO brings deep experience running a 21st century financial department, allowing the senior leadership team and Trustees to be assured that the MCA’s financial oversight is of the highest caliber. The CFO/COO is a strategic, tactical and visionary finance leader with the ability to “deep dive” into the details while staying focused on the holistic financial health and sustainability of the organization. This finance leader will bring a high level of intellectual horsepower and a curious, collaborative, and creative mindset.  The CFO/COO must have proven experience in budgeting, strategic forecasting and planning, and in overseeing financial, accounting, compliance and risk management of a complex organization.  As a strategic partner to the Pritzker Director, the CFO/COO conceptualizes and analyzes problems and solutions in a constructive, collaborative manner geared towards helping the entire organization improve performance. This leader possesses strong quantitative and analytical skills. The CFO/COO is skilled at presenting financial information to the leadership team and the Board of Trustees.

Building Relationships and Leading Through Influence

The successful candidate will establish rapport and cultivate relationships across all levels of the organization and empower a diverse staff to deliver results.  The CFO/COO must be comfortable presenting financial information to, and developing strong relationships with, organizational leadership and the Board of Directors. A leader that exudes ‘executive presence’, s/he is highly articulate and a deft communicator able to convey MCA’s successes and opportunities with passion and intensity in written and verbal formats in both formal and informal situations. This individual engenders confidence and leadership in order to influence across the organization. The CFO/COO fosters trust and collaboration among team members and possesses the ability to manage through change with flexibility and poise. The CFO/COO embraces the culture of the MCA, while always fostering best-in-class practices in a productive manner with colleagues. This leader is an individual with unquestioned integrity, ethics and values; someone who can be trusted with highly confidential and sensitive information.

Ability to Execute for Results

The CFO/COO will establish a course of action to operationalize and achieve the creative, strategic and business priorities of the MCA while working collaboratively with the senior leadership, staff and Trustees. To achieve desired results and support the MCA’s strategic objectives, the CFO/COO will interpret the “big picture” to senior leadership and compel them and their teams to participate in planning and goal-setting around them. S/he possesses the ability to leverage the expertise of the finance and operations staff to hone the organizational systems and processes to meet the current needs of the MCA. S/he understands and deals with complexities with ease and is able to creatively overcome obstacles to achieve the organization’s goals.

A Passion for the Mission

The CFO/COO brings a passion for the arts and for the mission of the MCA. This executive is committed to effectively leading his or her teams and to serving as a strategic partner to the Pritzker Director to support the goals of the organization.  This leader understands and embraces that the finance and operations functions are dedicated to serving the overall mission of the institution. The CFO/COO possesses the ability and desire to inspire those around him/her to work together to support the mission during a period of growth and direction setting. This individual brings a deep appreciation for the business challenges that nonprofits face, and an excitement to be part of a team that is focused on identifying creative and strategic solutions.

While a working knowledge of 501c(3) structure and operations would be helpful, it is not necessary for the CFO/COO to have experience in the nonprofit field. Correspondingly, a CPA is desirable but is not required.

CONTACT

Koya Leadership Partners, a national retained executive search firm that partners exclusively with mission-driven clients, has been retained for this search. Alison P. Ranney and Anne B. McCarthy are leading the search. 

To express your interest in this role please email Alison and Anne directly at koyachicago@koyapartners.com.  All inquiries and discussions will be considered strictly confidential.

LINK

https://koyapartners.com/search/chief-financial-officer-chief-operating-officer/