Director of Finance
Posted on :
04-07-2024
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1 Vacancy
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Job Description
- To oversee the Finance and Accounting department in the hotel and ensure its smooth running so that all financial and management reports are accurate and available by their due dates.
- To ensure that the books, records, and accounts are maintained accurately and fairly reflect the transactions and administration of the assets of the hotel.
- Draft and maintain accurate yearly financial statements, in compliance with International Financial Reporting Standards and country requirements.
- Ensure statutory requirements and obligations for the relevant legal entities are met.
- Ensure compliance with the Uniform Systems of Accounting for the lodging industry and the terms of the hotel management agreement.
- Establish strong cash management controls, prepare monthly cash flow forecasts, and recommend actions accordingly.
- Ensure all balance sheet accounts are fully reconciled every month and discrepancies are immediately identified and corrected.
- Conduct detailed operational analysis and review with relevant stakeholders to optimize performance and deliver agreed financial targets to minimize variances versus budget and prior year, flow-through analysis, outlet menu engineering, profit margin analysis, manning structure, and payroll cost, etc.
- Direct preparation of annual budgets and monthly forecasts; establish and/or recommend to management major economic objectives and policies for the hotel.
- Work closely with relevant stakeholders on capex planning and execution including proper accounting, ROI analysis and post-investment reviews.
- Report monthly and act as a liaison to regional, corporate, and asset management groups on the properties’ financial performance.
- Partner with the General Manager and Executive committee of the properties and act as a business advisor and risk advocate.
- Maintain close communication with third parties such as the public auditors, external auditors, and local authorities.
- Provide training in the hotels to enhance the financial skills of the Management Team as a whole. Be the "coach" to both the Hotel Finance teams and non-Financial Managers.
- Set individual development plans for each finance colleague and strive for their future development.
- Ensure compliance with company finance directives and delegation of authority as well as all legal, tax, and regulatory requirements.
- Coordinate with Internal Audit on compliance according to company financial policies, governance, risks, and fraud.
- Comply with the company’s code of conduct and report any variation.
- Monitor any legal issues involving the property and report to the owner and corporate office accordingly.
- Maintain relations with external auditors and investigate their findings and recommendations.
- To review and certify any hotel's internal or external financial reporting before distribution.
Employment Type
Full Time
Key Skills
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