Director of Finance

About the Department

The Development Innovation Lab at the University of Chicago uses the tools of economics to develop innovations with the potential to benefit millions of people in low- and middle-income countries. It was founded and is led by Nobel laureate Michael Kremer.

The Director, Finance will oversee financial and grant-related activities for the Development Innovation Lab (DIL).

This role oversees financial management of the Lab, compliance with university and external funding regulations, and is responsible for the successful life-cycle management of grants, gifts and internal funds. The Director is responsible for the financial management of funds from multiple sources, including grants and gifts from foundations and government as well as internal University budgets. The Director will manage a team of professional staff.

This Director will work collaboratively with a range of Lab staff to set up systems to help the team oversee the finances for their projects. This includes managing operating budgets for the Lab, including leading an annual and quarterly budgeting process. They will report regularly to Lab leadership and managers of individual projects and grants on the current financial situation of their areas, flag concerns and, as appropriate, provide recommendations for action.

The Finance Director will also work closely with the Lab’s leadership to analyze the Lab’s overall financial picture, including analyzing risks and opportunities.

This position serves as a key liaison between DIL and central university offices. The Director will work routinely with the Director of Financial Operations for the Social Sciences Division, the University Budget Office, and University Research Administration to ensure alignment on financial reporting, budget processes, and policy compliance. This includes preparing financial reports for the University and donors.

The Finance Director will be responsible for the overall financial management of the Lab’s finances. As part of this role, they will:

• Lead and manage a team of grant and finance managers who are responsible for managing project-level budgets with research teams for funding proposals, managing project spending through the project, and reporting regularly to donors.
  • Supervise and mentor the finance and grants staff; establishes performance goals and allocates necessary resources.
• Provide financial analysis and strategic guidance to the leadership team as they make unit-wide financial decisions.
• • Provide reports at least quarterly analyzing the Lab’s financial performance including analyzing spending against annual fiscal year budgets.
  • Provide regular financial advice and ideas.
  • Regularly watch for financial risks and problems and discuss these issues with leadership.
• Lead budgeting processes and oversee Lab’s financial picture
  • Manage organization-wide budget development and budget process, including monthly forecasting, fiscal year close out, and reporting to the Unit, Provost, Dean, and Budget Office. Offering strategic guidance throughout the planning and reporting processes. This includes gathering budget requests from across many projects and consolidating them for leadership, including flagging issues and ensuring data validity.
  • Track performance against budget and provide strategic advice to the Lab’s leadership team as well as regularly provide actuals to the project teams.
• Oversee the Lab’s interactions with the University’s financial system, including but not limited to:
  • Oversee and audit reporting within the University’s General Expense Management System (GEMS) system each month. This includes reviewing individual expenses charged to various Lab accounts for correctness, applicability, and compliance with any donor requirements.
  • Ensures compliance with University financial policies and procedures and builds systems that work for DIL culture that help ensure compliance and efficiency.
• Sponsored award oversight, including:
  • Ensures adherence to University financial regulations and standards.
  • Stays updated on changes in financial policies, grant requirements, and best practices.
  • Manages, negotiates, and resolves…