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Chief Finance and Operations Officer

Chief Finance and Operations Officer

One Million DegreesChicago, IL, United States
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Overview

About One Million Degrees : One Million Degrees accelerates community college students’ progress on career pathways to economic mobility. OMD’s holistic support model helps students toward degrees and careers with personal and academic coaching, financial assistance, and professional development, transforming futures for generations. OMD’s model is rooted in evaluation and evidence : a randomized controlled trial with the University of Chicago Inclusive Economy Lab shows that OMD scholars are 70% more likely to enroll, 94% more likely to persist, and 73% more likely to earn a degree. Currently, OMD serves scholars in all 7 of the City Colleges of Chicago and is scaling to reach nearly 3,000 Chicago students by 2026. OMD partners with employers to build on-ramps to in-demand jobs through internships and apprenticeships, and works with higher education institutions and partners across Illinois and nationwide to support holistic student support models.

Through this growing body of work, OMD is becoming a national model for sustainable, scalable, and systemic change.

OMD Values

OMD is deeply committed to our core values :

  • Equity : We address systemic inequities by taking a holistic approach to supporting students on their path to economic mobility.
  • Excellence : We provide exceptional support so students can achieve their ambitions.
  • Community : We unite around putting students first, collaborating with partners, and celebrating collective wins.
  • Learning : We adapt to a changing world and refine our approach to support students, staff, and stakeholders.
  • Amplify : We advocate for our students and share what we’ve learned as field leaders.

Position Summary

Position Summary : One Million Degrees (OMD) seeks a strategic, data-informed, and operationally innovative Chief Finance and Operations Officer (CFOO) to steward the organization’s financial health and operational excellence. Reporting to the CEO, the CFOO will oversee finance, accounting, human resources, compliance, technology, and facilities, and drive systems, policies, and initiatives to enhance efficiency and impact. The ideal candidate thrives in fast-paced environments, embraces change, and brings a strategic mindset to scaling the organization. The CFOO will shape OMD’s strategic plan, ensure capacity to meet growing needs, and deepen impact on scholars’ economic mobility, while fostering accountability and innovation and serving as a primary liaison to the Board on financial and operational matters. Grounded in OMD’s commitment to social and racial justice, the CFOO will lead with vision and integrity to advance infrastructure and capacity for future opportunities and scale. This is a unique opportunity for a senior financial and operations leader to join a mission-driven, rapidly scaling organization.

Specific duties and responsibilities

  • Provide ultimate oversight of the organization’s financial, administrative, and human resources activities
  • Collaborate with Leadership Team to establish operational strategy and evaluate progress against strategic goals
  • Oversee annual operating budget (currently $14M); work with finance to ensure fiscal stewardship, transparency, forecasting, and financial modeling to support current and emerging work
  • Audit, implement, and maintain internal systems; move from manual to automated processes
  • Oversee public funding and grant management; review and systematize MOUs to align with strategy, feasibility, and compliance
  • Offer interdepartmental insight and develop consultative relationships across the organization
  • Manage facilities and leases; negotiate as appropriate
  • Drive knowledge management to improve quality and efficiency
  • Ensure excellence in core HR functions, including employee lifecycle, performance management, and benefits administration
  • Ensure optimal software platforms and technology infrastructure
  • Manage relationship with OMD legal counsel
  • Coordinate key functions to maximize impact; implement strategic changes based on data and reasoning
  • Collaborate with and mentor staff across Finance, Operations, Technology, Compliance, and HR; including labor responsibilities as OMD is partially unionized
  • Lead and develop a high-performing team that embodies service excellence and meets performance expectations
  • Oversee other responsibilities as they arise (e.g., financial and regulatory reporting, contract review, indirect cost rate negotiation, retirement plan oversight, budget planning, cash forecasting, and board engagement)
  • Qualifications and requirements

    Required and preferred background :

  • Bachelor’s degree in a business-related field required; MBA or professional certification (CPA or CFA) preferred
  • Proven experience as a CFO, COO, or senior finance / operations leader in a nonprofit or mission-driven organization; 7+ years of management experience
  • Deep expertise in nonprofit finance, accounting, and compliance
  • Demonstrated success in scaling organizations and leading change
  • Strong strategic thinking and analytical skills; data-informed management
  • Exceptional communication and leadership abilities
  • Strong collaborative spirit and a team-player mindset
  • Experience working closely with a Board of Directors
  • Additional skills and capabilities

  • Financial & Operational Expertise : oversee finance, HR, IT, facilities, and compliance; budgeting, forecasting, and long-term planning
  • Ability to build out systems, policies, and infrastructure for stability and growth
  • Strong financial acumen to align resources with strategy and growth
  • Experience with annual financial audits and ensuring audit readiness
  • End-to-end operations oversight; redesign cross-functional systems for efficiency
  • Experience leading organizational change and ensuring adoption
  • Data-driven decision making and continuous improvement
  • Collaborative partner to senior leadership and the Board
  • Strategic & Visionary Leadership

  • Set long-term goals, forecast needs, navigate ambiguity
  • Decisive yet collaborative in prioritizing and ensuring accountability
  • Creative problem solver; simplify complexity
  • Entrepreneurial mindset; adapt strategies as the organization grows
  • Equity-Driven Change Agent

  • Establish foundational tools and lead teams through operational change with transparency and care
  • Experience leading change in complex environments
  • Balance collaboration with decisiveness
  • Champion equity, inclusion, and belonging
  • Inspire innovation and entrepreneurial thinking across teams
  • Team Leadership & Culture Building

  • Skilled coach and facilitator for high-performing, mission-driven teams
  • Fluent in HR practices for unionized and non-union staff
  • Foster transparency, empowerment, and accountability; value staff input
  • Commitment to diversity, equity, inclusion, and accessibility
  • Build trust with staff, partners, and Board; maintain composure under pressure
  • Mission Alignment

  • Passionate about OMD’s mission to advance economic mobility
  • Lead with empathy, respect, integrity, and authenticity
  • Aim to address systemic inequities and support student success
  • Compensation & Benefits

  • Salary is competitive and commensurate with experience; range is $180,000 - $205,000 plus annual bonus eligibility
  • Full health benefits for all full-time employees; OMD covers 100% of individual premium and 80% of dependent coverage
  • Employee assistance program for confidential support, legal guidance, financial resources, and more
  • Retirement benefits : OMD matches contributions up to 4%
  • Generous PTO with 12 holidays and up to 15 days PTO in year one plus two weeks winter break
  • Compensatory time for duties outside normal hours
  • Monthly cell phone and internet reimbursement up to $50
  • 12 weeks of paid parental leave
  • Professional learning opportunities funded by OMD
  • Hybrid work schedule; one in-office day per week with additional in-office days as needed
  • Salary bands set based on market data and internal equity
  • Limited Saturday / evening hours required for organizational events
  • One Million Degrees is an equal opportunity employer. Applications from all individuals are encouraged regardless of age, gender, race, ethnicity, religion, or sexual orientation, and candidates are evaluated on merit.

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