Finance Director/Assistant Executive Director | ILLINOIS POLICE OFFICERS’ PENSION INVESTMENT FUND

The Illinois Police Officers’ Pension Investment Fund (“IPOPIF”) was created by the Illinois Legislature and signed into law by Illinois Governor JB Pritzker on December 18, 2019. The law, Public Act 101-0610, provided for the mandatory consolidation of the investment assets of the state’s public safety pension funds into two investment
funds – one of which is for police. The consolidation of the investment assets of the 350+ involved downstate and suburban police pension plans into one statewide investment asset pool will create a single trust fund with an estimated $8.3 billion in assets.

IPOPIF is seeking outstanding applicants for the position of Finance Director/Assistant Executive Director. The Finance Director/Assistant Executive Director will be primarily responsible for the Financial Operations of IPOPIF and will provide managerial responsibilities to the Administrative Operations of IPOPIF.

Essential job duties:

Finance Operations

• Under general direction is responsible for planning, organizing, and directing the Fund’s finance operations, such as accounts payable and payroll, managing financial transactions; record
  keeping; reporting and preparation of financial statements, budget development, and performs related duties as required.
• Plans, organizes, and directs the financial management and operation for IPOPIF accounting activities and transactions and purchasing and procurement.
• Ensures that the financial matters of IPOPIF are conducted in accordance with Generally Accepted Accounting Principles (GAAP), recommended best practices by the Government
  Finance Officers Association, the Illinois Pension Code, and other Federal and State statutes, as well as Fund policies.
• Directs preparation of the financial reports and budget reports for the Board of Trustees and other entities, including but not limited to:
  i. Comprehensive Annual Financial Report,
  ii. Monthly Financial Reports
  iii. Annual Financial Statements
• Directs the financial planning, preparation, and monitoring of the IPOPIF annual fiscal year budget, reviews budget requests and justifications for budget items, authorizes and monitors expenditures to ensure compliance with fiscal policies.
• Recommends and implements appropriate internal financial controls to safeguard the physical and financial assets of the Fund. Works closely with the external auditor and coordinates the independent financial audit.
• Prepares comprehensive cost projections, summaries, reports, and recommendations.

Administrative Operations:

• Advises the Executive Director on all matters relating to the operations of IPOPIF.
• Represents the Executive Director at meetings, as required.
• Monitors the public pension industry to implement best practices for continuous improvement.
• Ensures operations are within applicable federal and state pension fund regulations.
• Establishes and evaluates operating processes and internal controls and coordinates changes to policies, forms, and procedures.
• Directs the negotiation of contracts for service providers that may be necessary to the administration of the Fund.
• Directs the development, review, evaluation, and revision of IPOPIF specific personnel policies and procedures.

Desired Skills and Abilities:

• Ability to understand, interpret and apply provisions of Federal, State, and local regulations and policies
  including Governmental Accounting Standards Board, Financial Accounting Standards Board,
  Governmental Finance Officers’ Association and American Institute of Certified Public Accountant
  pronouncements.
• Knowledge of accounting and auditing principles, theories, and procedures applicable to the control of various accounting systems.
• Knowledge of actuarial principles and accounting standards as related to pension systems.
• Ability to identify and define actual and potential issues or concerns pertaining to the accuracy and integrity of accounting and fiscal data, use sound and logical judgement, and make effective decisions to develop resolutions.
• Demonstrates integrity when applying accounting and management principles and practices, dealing with large amounts of money and funding, ensuring the validity and acceptance of accounting and fiscal data, and resolving discrepancies in the accounting of money or funds.
• Demonstrates knowledge regarding employment law mandates affecting employees including Equal Employment Opportunity Commission (EEOC) rules and regulations, Americans with Disability Act (ADA), Fair Labor Standards Act (FLSA), and other applicable laws and regulations.
• Communicates effectively in English orally and in writing.

Qualifications:

• A bachelor’s degree from an accredited college or university with a major in accounting, finance, economics, business administration, or related field which includes the successful completion of
  coursework in elementary, intermediate, and advanced accounting, cost accounting, governmental accounting, and auditing.
• Five or more years of progressively responsible management experience (preferably with a public pension fund), in an accounting/finance/operations role, including a minimum of two years of experience in a supervisory role managing direct and indirect reports.
• A master’s in business administration (MBA) degree or Certified Public Accountant (CPA) license may be substituted for one year of professional accounting/auditing experience.
• A thorough understanding of various technology and software applications commonly used in financial management and accounting functions.