Under the business supervision of the Regional Director of Finance or Vice-President Finance and the General Manager, and within the limits of ACCOR policies and procedures and local requirements, the position is responsible for the supervision of all members of the hotel Finance and Accounting Department. The Director of Finance provides strategic leadership, functional guidance and valuable insights to Operations Leader, Partner, Executive Committee and Department Heads for optimal business decision; Interacting with hotelâs legal counsel, insurance companies, tax consultants, auditors, commercial and government banks to effectively control the assets of the business. The Director of Finance will be a highly motivated team player with strong accounting, communication, business presentation and analytical skills. Strong systems background needed.
- Responsible for leading, completing, and monitoring month end closing process for the Hotel Operation and the Residential component of the property.
- Timely preparation of monthly financial statements and forecast for the property, part of a large condominium project involving multiple entities and stakeholders.
- Creation and embracing the culture of business partnering by working with General Manager. The Director of Finance and the General Manager are jointly responsible for achieving optimal operating performance and returns for ACCOR and our owners without losing sight of all measured KPIâs.
- Develop and manage key relationships and respective Management Committee members and their senior managers to provide financial support and understanding of short and long-term financial plans.
- Review financial performance of department/area, analysis of variances, forecasts, and budgets. Challenge existing strategies and/or recommend alternate strategies to continually improve effectiveness of the business or financial management.
- Contribute to all business decisions of the hotel regarding revenue generation, hotel expenditure and investment.
- To assist other department heads in the development and implementation of âcorrective action plansâ on internal and or external audit and operational reports.
- To assist in the development of the business acumen of all levels of the hotel Leadership team to ensure they understand the impact of every component on the business as a whole and embrace the fiscal reporting processes, and information available in order to drive the performance of their areas of responsibility.
- Attend and contribute to Weekly Revenue Meeting discussions with a focus on identifying opportunities and risks in Rooms, Conference & Banqueting and other revenues, to drive revenue growth.
- Promote, drive, and maximize GOP Theoretical Flow Through, GOPPAR index, concept across the departments.
- Support the General Manager in developing a strong business relationship with hotel owner by participating and contributing to meetings and discussions and responding proactively to owner requests and initiatives within the boundaries of the HMA.
- Responsible for the analysis and interpretation of the financial data and communicating this in a comprehensible form, of meaningful variations in the operations. The analysis of the balance sheet accounts, on a selected basis and the preparation of the monthly internal benchmarking and operational performance analysis reports.
- To assist in the development and implementation of benchmarking techniques that will enable the hotel to enhance revenues while improving productivity and cost efficiencies.
- To seek, identify and implement throughout the hotel best practices that will serve to enhance revenues, guest service and improve cost and productivity efficiencies. To assist in preparing, in conjunction with the General Manager and other department heads, the annual budget, capital budgets and the rolling forecast. The Director of Finance will establish the annual budget preparation procedures and guidelines.
- To recommend and assist in the design, implementation, and use of methods and procedures that improve the accuracy of working schedules, labor standards, forecast, plans to assist operational staff. Monitor on an ongoing basis the accuracy and recommend correct measurements as necessary.
- To provide accurate and complete financial and management reports on a timely basis to hotel management, corporate office, and owners in accordance with the company and ownership reporting requirements and policy. In addition, the Director of Finance is responsible for reporting accurately and timely, the actual results as compared to budget/forecast results. He/she is to maintain adequate records to reflect the comparison of the actual expenditures for furniture, equipment, and operating equipment to the budgeted amounts.
- Manage all facets of the capital process. Ensure all hotels establish and maintain the tracking of fixed assets sub-ledgers and depreciation.
- To participate in the development, maintenance, and adherence to a single chart of accounts, payroll and expense dictionary, and the function of accounts in order that the hotels financial and statistical data is accurately and consistently recorded and reported.
- In addition to the preparation of all financial statements, accounting and statistical reports, and any other special report that may be required by corporate office or the General Manager, the Director of Finance & Business Support is responsible for interpreting said reports and then communicating the results with the General Manager and relevant department heads.
- Has a fiduciary responsibility to the Company and/or Owners for ensuring the hotels are reporting in compliance with the policies, the Uniform Chart of Accounts and hotel management or other contractual arrangements with respect to accounting matters.
- All laws and fiscal regulations of the area location, which effect financial matters of the hotel, will be complied with. This includes seeing that proper permits and licenses are obtained for such things as liquor licenses, sellers permit, business licenses, etc.
- To protect the owners and the management companyâs interest in the hotel assets and operations. Director of Finance should be the guardian of the Hotel Management Agreement. Management Agreement terms, priorities, performance tests and incentive fees distribution requirements are completely understood and managed.
- The safe keeping of all lease and contracts and any other legal records and documents, which may affect the financial status of the hotel. Such documents are to be listed and keep current on the Critical Date List.
- Working with General Manager and hotel executive committee, Director of Finance shall conduct regular operations risk assessments, establish a risk register for the hotel and prepare an action plan addressing the mitigation of identified risks, subject to regular reporting and follow up on the execution of the risk action plan. They shall ensure the timing and accurate reporting of all incidents in accordance with Company protocol.
- A thorough knowledge of policies and procedures required. A thorough knowledge of understanding and proper application of policies and procedures.
- Control systems are monitored and audited on a regular basis, as documented by Audit Services, to measure compliance with internal controls. Segregation of duties for non-compatible functions is enforced. Controls are explained and understood by all employees, as part of their job description that the employee has signed off on.
- Accountable for the development, documentation, and maintenance, within hotels, to ensure compliance with the requirements of internal/standard controls.
- Ensure cash flow is adequate to meet the needs of the operation. Approve all cash disbursements and ensure that all disbursements are properly documented and executed. Approve all rebates, adjustments, and allowances in accordance with company policy.
- Issues surrounding Accounting, Policy or Controls are reviewed with GM, Regional Director of Finance and /or
- Executive Director, Finance.
- Developing, implementing, and monitoring credit and collection procedures and guidelines pursuant to âadoptedâ corporate credit policies.
- Work within the ACCORâs Human Resource Management System to ensure the departmental performance of staff is productive.
- Operate efficiently and optimize staffing levels
- Plan for future staffing needs (Succession Planning)
- Recruit in line with company guidelines
- Prepare detailed orientation programs for new staff
- Maintain a comprehensive, current, and guest focused set of departmental standards and procedures and oversee their implementation
- Ensure training needs analysis of your departmental staff is carried out and training programs are designed and implemented to meet needs
- Deliver training
- Actively work at developing your direct reports and identify high potentials
- Conduct probation and formal performance appraisal in line with company guidelines
- Coach, counsel, and discipline staff, providing constructive feedback to enhance performance
- Approve leave requests after considering peaks and troughs in the business
- Regularly communicate with staff to maintain positive relationships
- Other duties as assigned