Assistant Accounting Manager

About the Illinois Finance Authority

The Illinois Finance Authority is a state financing authority that provides access to capital to support economic development, infrastructure, and environmental initiatives across Illinois. The Authority is a nationally recognized issuer in the municipal bond market, facilitating innovative debt financing transactions with banks and investors on behalf of conduit borrowers, including 501(c)(3) organizations, and the Illinois Environmental Protection Agency’s State Revolving Fund Programs. Through its climate bank functions, the Authority is expanding its role in deploying capital to accelerate clean energy, resilience, and equitable climate investments.

Position Summary

The Assistant Accounting Manager supports the daily accounting operations of the Illinois Finance Authority (“IFA” or “Authority”) and its climate bank programs. The Assistant Accounting Manager ensures the integrity of financial reporting; compliance with governmental accounting standards and state and regulatory requirements; maintaining strong internal controls; supporting internal and external audits; managing complex fund accounting structures; and transparency across public finance and climate bank funding programs. This key role requires strong accounting expertise, attention to detail, analytical thinking, and the ability to coordinate multiple priorities in a public-sector finance environment.

Key Duties and Responsibilities

Accounting Operations

• Responsible for daily accounting operations, including general ledger, accounts payable, accounts receivable, cash management, and journal entry preparation.
• Monitor cash activity and reconcile bank accounts and investment accounts.
• Assist in maintaining the chart of accounts and accounting structures.
• Support monthly, quarterly, and annual closing processes.
• Review accounting transactions to ensure completeness, accuracy, and compliance with governmental accounting standards, and alignment with statutory, regulatory, bond-related requirements and Authority policies.
• Assist in maintaining accounting records and supporting documentation.

Financial Reporting and Budgeting

• Prepare and support the preparation of Authority-wide of monthly, quarterly, and annual financial reports and supporting schedules.
• Support reporting requirements for internal leadership, governing board/committees, and external stakeholders including financial information detailing assets, liabilities, and capital, and Net Position, Statement of Revenues, Expenses, and Changes in Net Position and other reports to summarize and interpret current and projected Authority financial position.
• Ensure accuracy, transparency, and appropriate tracking and reporting of multiple funds including restricted vs. unrestricted funds.
• Support the development and monitoring of annual budgets.

Governmental & Public Finance Accounting

• Assist in accounting for bond issuance activities, debt-related transactions, and trustee account activity, and grants and programmatic financing activities.
• Assist in tracking and reconciling special funds, reserves, and restricted accounts.
• Maintain accounting support for climate bank programs, public finance initiatives, and related funding sources.
• Ensure compliance with applicable governmental accounting standards and regulatory reporting requirements

Audit Support

• Assist with annual external financial statement audits and bi-annual compliance examinations.
• Identify process improvement opportunities to strengthen internal controls and efficiency.
• Develop and maintain accounting procedures and operational documentation as needed.
• Monitor compliance with generally accepted accounting principles (“GAAP”) and Authority policies and procedures

Human Resources Accounting and Administration

• Process semi-monthly payroll: compile and enter into the Authority’s systems (e.g., Microsoft Dynamics GP, Greenshades) information such as garnishments, paid time off, insurance and 457 Plan deductions, new hires, employee changes, voluntary deductions, and other employee data.
• Prepare and complete monthly, quarterly, and annual federal and state payroll and accounting reports as required, including W2, W3, worker’s compensation fund, and 1099. Ensure accuracy with monthly reconciliations.
• Review monthly billings from insurance providers for accuracy. Resolve discrepancies with carriers, payroll, and the Authority.
• Manage the process and administration of the Authority’s system for annual benefits enrollment and life event changes. Arrange for the distribution of plan summary materials and required notices, assist with communicating plan changes to employees and arrange for onsite representation by providers. Process changes within deadlines.
• Administer various human resources policies and procedures; assist in the development and implementation of new policies and procedures, including the creation and maintenance of the Authority’s job descriptions and personnel files.
• Conduct new hire orientation and onboarding; answer employee questions relating to payroll, benefits, and human resources issues.
• Perform other activities/tasks and special projects as assigned.

Qualifications

Required

• Bachelor’s degree in accounting, finance, business administration, or related field
• Minimum of 5–7 years of progressive accounting or finance experience
• Prior experience in governmental accounting, public finance, nonprofit accounting, banking, or regulated financial organizations strongly preferred
• Experience supporting audits, financial reporting, and reconciliations
• Strong knowledge of generally accepted accounting principles (“GAAP”)
• Strong analytical, organizational, and problem-solving skills
• Focus on attention to detail and commitment to accuracy
• Proficiency with Microsoft Office 365
• Ability to manage multiple deadlines in a fast-paced environment
• Strong written and verbal communication skills
• Ability to work collaboratively across departments and with external stakeholders

Preferred

• Knowledge of public sector or government operations or not-for-profit organizations
• Familiarity with Governmental Accounting Standards Board (“GASB”) principles
• Experience supporting board governance processes or public meetings
• Experience with data tracking, reporting, or financial analysis tools
• Interest in economic development, infrastructure, and environmental initiatives

IFACB offers competitive benefits, including a 401(a) defined contribution retirement savings plan with matching contributions, comprehensive and competitive health, life and disability insurance and paid time off.