at Oakton Community College in Des Plaines, Illinois, United States
Job Description
Category:
Staff
Subscribe:
Department:
Educational Foundation
Locations:
Des Plaines, IL
Posted:
Feb 20, 2024
Closes:
Mar 18, 2024 - 11:59 PM EDT
Type:
Full Time Staff
Position ID:
172846
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About Oakton College :
For 50 years, Oakton College has been the setting where thousands begin or continue their college or career studies. Educating people of all ages, from all walks of life and from more than 40 nations, Oakton focuses on improving the quality of life for everyone who enters its doors.
We offer:
Hyrbrid Work Schedules
Continuing Education
Great Benefits
Paid Winter Break
FRIDAYS OFF during the Summer
Job Description:
Basic Function and Responsibility:
Responsible for providing financial leadership to ensure sound fiscal practices that enable streamlined operations in, and provide scalability to, the advancement services functions of the Foundation. Performs all accounting functions, management of investment services and annual audit activities, and provides financial advice and information to Foundation leadership and the Foundation's Board of Directors.
Characteristic Duties and Responsibilities:
Oversees and manages daily work activities of the Foundation's business operation including determination of fiscal policies and procedures to cover all strategic financial management, accounting, auditing, financial, budgeting, investment and treasury functions of the corporation. Maintains financial and operational aspects of the Council for Advancement and Support of Education (CASE) Checklist for Institutionally Related Foundations to ensure compliance with State laws and best practices.
Exercises independent judgment in assisting Chief Advancement Officer in creating and monitoring the foundation and college budgets to ensure responsible utilization of financial resources.
Manages investment portfolio of the Foundation, valued at more than $20 million. Formulates, proposes for Board approval, and implements investment policies including the establishment of risk parameters. Responsible for oversight of reconciliation between investment custodian and the board's financial oversight committee. Manages process of subscription and redemption of investments and the proper allocation of investment earnings/losses and fees. Leads process for selection of investment and banking custodians.
Conducts annual spend analysis in accordance with Foundation policy and makes recommendation for endowment spending.
Prepares data for, and participates in, industry surveys related to investment performance and benchmarks performance against appropriate peer group, including the NACUBO-TIAA Study of Endowments.
Manages cash and all assets. Performs cash flow analysis, revenue forecasting, and liquidity assessment.
Proficient in all aspects of fund accounting and all pertinent GAAP, including Sarbanes-Oxley, FASB, and UPMIFA compliance as well as CASE fundraising and campaign reporting standards in accordance with the CASE Reporting Standards and Management Guidelines for gift recording. Ensures legal and regulatory compliance for all accounting and financial reporting functions.
Manages accounts payables, payment processing, collections and fraud prevention functions. Sends pledge reminders and conducts collections as needed.
Reconciles all bank statements monthly.
Develops and maintains accounting records for all funds, including contributions, expenditures, interest earnings (if eligible), fees (if appropriate), and transfers as needed. Prepares and validates financial data required for annual donor reports.
Prepares the month end closing journal entries and makes adjustment journal entries as necessary. Reviews and posts all journal entries to the general ledger. Reviews and reconciles general ledger accounts to the subsidiary ledgers.
Prepares monthly financial statements and reports on the Foundation's fundraising efforts and financial/operational health. Assists in preparation of, and analysis related to, fundraising event and activity revenue and ROI.
Oversees the processing and acknowledging of gifts, pledges, pledge payments, matching gifts, tribute gifts (in honor/memorial), online gifts, stock gifts, gift-in kind, and other contributions to the Foundation. Monitors the timeliness and efficiency of gift processing, assuring all corresponding links to the database are updated and maintained as gifts are processed.
Coordinates and supports the successful completion of an unmodified audit annually. Prepares and reviews all Federal reporting requirements, including the IRS 990 and ILAG990, and submits reports and extensions as appropriate by the deadline. Responsible for leading the process to retain, and work with external accounting services provider in the completion of these activities.
Organizes and utilizes the Financial Edge database for financial record... For full info follow application link.
Oakton Community College is an equal opportunity employer
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