Chief Financial Officer

  • Illinois Power Agency
  • Chicago, IL, United States
  • Nov 15, 2017
Full time Finance Government

Job Description

The Illinois Power Agency (“Agency”) is seeking a Chief Financial Officer. 

The Agency is an independent State Agency created in 2007 to develop electricity procurement plans and conduct procurement events to ensure adequate, reliable, affordable, efficient, and environmentally sustainable electric service for the default supply customers of Illinois electric utilities. Due recently enacted legislation (Public Act 99-0906), the Agency will be growing over the next several years as it expands its operations to include new programs to promote the development of renewable energy resources. For more information about the Illinois Power Agency, please refer to:

 To apply, please send a cover letter, resume, and three professional references to:


Anthony Star


Illinois Power Agency

160 North LaSalle Street, Suite C-504

Chicago, Illinois 60601

 No phone calls please.

 The Illinois Power Agency is an Equal Opportunity/Affirmative Action employer.

The Chief Financial Officer (“CFO”) reports to the Agency Director and shall be responsible for all financial operations of the Agency.  The CFO will manage all accounting, budgeting, cash management, and financial reporting for the Agency.

 Key Roles and Responsibilities

  1. Directs all financial operations of the Agency. Develops systems for review and expenditure control to include encumbering and expending Agency funds. 
  2. Formulates financial policies in accordance with applicable state statutes and regulations as enacted and implemented by the State Legislature, and the Offices of the State Comptroller and State Treasurer.
  3. Responsible for timely development, management, and analyses of all matters related to accounting, and management of financial reporting, budget, and appropriations.
  4. Manages all agency expenditures, authorizes payments through the Comptroller's Office, to ensure all financial transactions are adequately documented and appropriately recorded (e.g., via QuickBooks financial software), and that corresponding internal controls are followed.
  5. Manages all accounting and financial matters pertaining to Agency contracts in accordance with State laws, regulations, and administrative code procedures.
  6. Responsible for ensuring compliance with mandatory financial reporting requirements, including but not limited to the State Finance Act, Fiscal Control and Internal Auditing Act (FCIAA), Public Accountability Reporting (PAR), Annual Real Property Utilization Report (ARPUR), travel headquarters report (TA2), annual inventory certification and year-end GAAP reports.
  7. Represents Agency in fiscal year-end financial and compliance audits and related matters.
  8. Identifies cost savings opportunities, prepares cost/benefit analyses and recommendations to senior management, and tracks costs and benefits of recommendations that are implemented.
  9. Oversees Agency HR/payroll/benefits as well as leave administration processes and related activities.
  10. Perform other duties as required or assigned by the Director.

Bachelor’s Degree in Accounting or Finance required.

  • Minimum 5 years of progressive experience in an accounting or financial position required.
  • Experience in government accounting and auditing desirable. (State of Illinois experience preferred.)
  • CPA, or equivalent, required.
  • Advanced knowledge of accounting and fiscal management standards (e.g., GAAP), techniques, practices, and principle is essential to successfully perform required job responsibilities.
  • Proficiency using QuickBooks desktop financial software preferred. Experience with SAP desired.
  • Strong organizational skills and project management skills.
  • Effective verbal and written communication skills.
  • Demonstrated knowledge of Microsoft Office 365 Suite and Internet applications.
  • Ability to handle multiple priorities in an evolving, dynamic business environment.

The Chief Financial Officer is prohibited from: (i) owning, directly or indirectly, 5% or more of the voting capital stock of an electric utility, independent power producer, power marketer, or alternative retail electric supplier; (ii) being in any chain of successive ownership of 5% or more of the voting capital stock of any electric utility, independent power producer, power marketer, or alternative retail electric supplier; (iii) receiving any form of compensation, fee, payment, or other consideration from an electric utility, independent power producer, power marketer, or alternative retail electric supplier, including legal fees, consulting fees, bonuses, or other sums. These limitations do not apply to any compensation received pursuant to a defined benefit plan or other form of deferred compensation, provided that the individual has otherwise severed all ties to the utility, power producer, power marketer, or alternative retail electric supplier.


General-Other: Accounting-Finance