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Director of Finance

Company Description

Over 60 years old, NNM serves over 500 students from toddlers to 8th Grade. Located near Wicker Park in Chicago, NNM is one of the largest Montessori schools in the nation. Highly regarded for its Montessori pedagogy and innovation, NNM hosts a rooftop garden, an innovation studio, a swimming pool, a playground, a rooftop urban farm, and a Sandwich Shoppe which is managed by students.

Learn more about us on our website: www.nnms.org

Job Description

Position Overview:

The Director of Finance is responsible for setting the strategic fiscal direction of the school. Responsibilities include management of the business office to ensure that appropriate financial controls are effectively utilized and accurate reporting is assured. Staff areas of responsibility include finance, budgeting, planning, purchasing, collections, legal compliance, and risk management. Reporting directly to the Head of School, the Director manages the Human Resources and Finance Offices. The position requires active interaction and teamwork with the Head of School, administrators, faculty, students, staff, parents, and Board of Directors. The Director of Finance works in close partnership with the Director of Operations and Strategic Priorities to ensure that financial objectives and operational objectives are in harmony.

Essential Functions and Responsibilities:

  • The Director of Finance is a member of the leadership team that  oversees the development and implementation of strategic goals that define the course of the school. The Director of Finance works closely with the Head of School to address the financial, investment, and business objectives of the school.
  • Work with the Head of School, senior administrators, the faculty, staff, and the Board of Directors to provide strategic direction and implementation of the school’s educational mission that serves the students

  • Provide financial information and planning that builds understanding and trust among the faculty, administration, staff, and Board of Directors.

  • Manage and direct the annual operating budget. With the Controller, plan and prepare forecasts of financial condition of the school. Report to the Head of School, Board of Directors, and Finance Committee on the results of the present and future operations. This includes overseeing the on-going maintenance and updating of the ten-year financial model.

  • In partnership with the Director of Operations, oversee the PPRRSM/Capital Reserve Fund to ensure that it is deployed to meet the strategic needs of the institution.

  • Manage and direct the day-to-day operation of the business office to include payroll, accounts receivable, accounts payable, and accounting functions.

  • Supervise the work of the business office personnel and use standard accounting (FASB) and bookkeeping procedures to keep an accurate and continuous record of cash and the financial position of Near North. Manage the financial operation of the school so that the institution remains financially stable in a greater context of sustainability. Communicate risks, opportunities, and trends via the collection of comparative data by creating or participating in school surveys.

  • With the Controller, prepare operating statements for the Head of School and the Board of Directors and provide monthly reports of expenditures for use of each individual budget center within the school.

  • In concert with the Finance Committee, establish a plan and schedule for the preparation of the annual budget that will permit the setting of the succeeding year’s tuition and compensation at a Board of Directors meeting early in the calendar year.

  • With the Controller and Audit Committee, provide for the securing of an annual audit of the school’s financial records and financial positions.

  • Oversee all the school purchasing and contracts, financial investments, banking activities, payroll, and benefits program.

  • Oversee the school’s financial investments, including endowment. Implement the investment decisions of the Investment Committee of the Board of Directors.

  • Provide staff/liaison support, in conjunction with the Head of School, to the Audit, Finance, and Investment Committees of the Board of Directors. Document all committee meetings

  • Establish, review, revise, and ensure legal compliance and risk mitigation with regard to the following practices, procedures, and publications of the school.

    • Pension documentation

    • Health Insurance Information

    • Employee Handbook

    • Parent and Student Handbook

    • Enrollment Agreements

    • Employment Agreements

    • Employment Policies

    • Exempt/NonExempt Employee Status

    • Nondiscrimination policies

    • Fingerprinting requirements

    • Truth in Lending Act (TILA) compliance

    • Policy regarding tuition collections

    • Data Security policies and procedures

    • 990 policies

    • Document retention and destruction policies and procedures

    • Conflict of Interest policy

    • Donor agreements

    • Americans with Disabilities Act (ADA) issues related to personnel, admissions, enrollment, and accommodations

    • Medical policies and procedures

    • Safe Harbor Act and rebuttable presumption

  • Report and collect data to and from the school associations (NAIS, iSACS, INDEX etc.) and manage surveys of data from the benchmark groups.

  • Assist the Head of School with decisions regarding salaries and benefits for all personnel, including the evaluation of support staff.

  • Complete annual evaluations of all members of the Finance office

  • Serve as a member of the Leadership Council & Senior Leadership Team

  • Represent the school at various regional, state, and national associations relative to the role of the CFO/Business Manager. Act as the school’s liaison with appropriate local officials. Serve on committees, task forces, and study groups as needed.

  • Support faculty, staff, and school leadership.

  • Perform other duties as assigned by the Head of School.

Qualifications

Education

  • Bachelor’s Degree required; an advanced degree in a related field is preferred
  • MBA or CPA preferred

Experience

  • Prior direct experience as a Director of School Finance/ Chief Financial Officer is highly desirable

Specific Skills Required

  • Ability to integrate effectively into the culture of not-for-profit independent schools while implementing strategies and tactics necessary for successful operations of the business

  • Significant experience with increasing responsibility supervising other personnel and managing multiple projects and programs

  • Strong management, negotiation and project management skills

  • Experience managing a budget

  • An open and collaborative work style

  • A positive outlook and a sense of humor

  • A high level of integrity and a strong work ethic

  • Discretion and the ability to handle confidential and sensitive matters appropriately

  • State of the art computer skills; facility with Google applications including Google Docs, Google Calendar, Gmail, Google Presentation, Google Spreadsheet; facility working with databases such as Blackbaud

  • Ability to travel if needed, as well as attend events on evenings and weekends

  • Flexibility with working evenings, weekends, & holidays as assigned

  • Proficiency in Microsoft Office Word, PowerPoint, and Excel, as well as Canva and Constant Contact, or willingness to quickly learn and become intimately familiar with these platforms

  • Proficiency in Google Suite

Additional Information

The starting salary for this role is $120,000 annually based on skills and experience.


Near North Montessori believes that each individual is entitled to equal employment opportunity without regard to race, color, religion, gender, national origin, age, disability, genetic information, sexual orientation, ancestry, veteran status, or any other characteristic protected under federal, state, or local anti-discrimination laws. The School’s equal employment opportunity practices extend to recruitment, hiring, selection, compensation, benefits, transfer, conditions, and privileges of employment.

Average salary estimate

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$120000K

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What You Should Know About Director of Finance, Near North Montessori School

Join Near North Montessori as the Director of Finance and play a crucial role in shaping the fiscal strategy of one of the nation's largest Montessori schools! With over 60 years of dedication to education, NNM serves over 500 students from toddlers to 8th grade. Located in the vibrant Wicker Park area of Chicago, this institution blends traditional Montessori pedagogy with innovative facilities including a rooftop garden, an urban farm, and hands-on learning spaces. As the Director of Finance, you'll be responsible for overseeing the financial operations, managing budgets, providing strategic direction alongside the Head of School, and ensuring compliance with legal and financial regulations. You'll lead a dedicated team in maintaining accurate financial reporting while building trust and transparency across the administration, faculty, Board of Directors, and school community. Your insights will directly influence the school’s investment decisions and help secure its financial stability for years to come. If you have an advanced degree in finance or a related field, and a passion for fostering educational excellence within a collaborative environment, we invite you to bring your experience and positive outlook to our leadership team at NNM. Here, your expertise will not just be a job but a way to ensure financial sustainability for generations of learners. Together, let’s continue to transform the lives of our students!

Frequently Asked Questions (FAQs) for Director of Finance Role at Near North Montessori School
What are the main responsibilities of the Director of Finance at Near North Montessori?

As the Director of Finance at Near North Montessori, you will oversee all financial operations, including budgeting, forecasting, and compliance with financial regulations. Your key responsibilities include managing the annual budget, overseeing payroll and accounting functions, and providing strategic guidance to the Head of School and Board of Directors to ensure financial stability and transparency.

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What qualifications are necessary for the Director of Finance role at Near North Montessori?

The Director of Finance position at Near North Montessori requires a Bachelor's degree, with a preference for candidates holding an advanced degree such as an MBA or CPA. Prior experience as a Director of School Finance or Chief Financial Officer is highly desirable, alongside proficiency in budget management and strong leadership skills.

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How does the Director of Finance collaborate with other leadership at Near North Montessori?

In your role as Director of Finance at Near North Montessori, you'll work closely with the Head of School and other senior administrators. This collaboration involves aligning financial objectives with educational goals and ensuring effective use of resources to enhance the school's mission and operational strategy.

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What is the expected salary for the Director of Finance at Near North Montessori?

The starting salary for the Director of Finance position at Near North Montessori is $120,000 annually, depending on your skills and experience. This compensation reflects the strategic importance of the role in ensuring the financial health of the school.

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What skills are essential for success as the Director of Finance at Near North Montessori?

The ideal Director of Finance at Near North Montessori should possess strong management, negotiation, and project management skills. Attributes like effective communication, a collaborative work style, and the ability to maintain confidentiality are also critical. Familiarity with financial software and Google applications is essential to streamline operations.

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Common Interview Questions for Director of Finance
Can you explain your experience with budgeting and financial forecasting?

When answering this question, highlight specific instances where you've successfully managed budgets, detailing the processes you used for forecasting and the outcomes achieved. Discuss any tools or software that facilitated this and your approach to addressing financial challenges.

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How do you ensure compliance with financial regulations in your role?

To answer effectively, bring up your understanding of relevant regulations and how you've implemented processes to ensure compliance. Mention any past audits you've managed and how you prepared for them by maintaining accurate records and staying updated on legal requirements.

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Describe a time when you had to communicate complex financial information to non-financial staff.

Here, you should share a specific scenario where you simplified financial concepts for team members unfamiliar with financial terminology. Emphasize your use of visual aids or analogies, and how it led to improved understanding and decision-making.

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What strategies would you implement to enhance the school’s financial sustainability?

Think strategically and demonstrate your knowledge of financial planning. Discuss methods such as diversifying revenue streams or optimizing budget allocations, and how these can ensure the long-term financial health of Near North Montessori.

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How do you manage risk in financial operations?

Your answer should reflect an understanding of risk management techniques. Mention assessments you conduct to identify financial risks, how you develop mitigation strategies, and your approach to reporting these risks to stakeholders.

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What is your leadership style when managing a finance team?

Discuss your approach to team leadership, emphasizing collaboration, empowerment, and encouraging professional development. Provide examples of how you've successfully led teams in the past, fostering a positive and productive work environment.

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How do you approach financial reporting for multiple stakeholders?

When responding, explain your method for tailoring financial reports to suit different audiences, ensuring clarity and relevance for faculty, administration, and the Board of Directors. Give an example of a report you prepared and its impact on stakeholder decisions.

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What technology or software systems are you familiar with that would benefit our financial operations?

Detail your experience with financial management software, accounting tools, and database management systems. Discuss how these technologies can improve efficiency and accuracy in financial reporting and operations at Near North Montessori.

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Why are you interested in the Director of Finance role at Near North Montessori?

Share your passion for education and commitment to fostering a positive learning environment. Connect your values with those of NNM and discuss why you believe your financial expertise aligns well with their mission.

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How would you handle conflicts regarding budgetary allocations among departments?

Describe your conflict resolution approach, focusing on active listening, clear communication, and collaboration. Illustrate how you've managed similar situations in the past, successfully finding compromise and maintaining team unity in budget discussions.

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EMPLOYMENT TYPE
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DATE POSTED
April 9, 2025

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