This position is responsible for the maintenance of world-class accounting, reporting, and analytical processes related to Marriott’s joint venture (“JV”) portfolio. The Manager is responsible for analyzing financial information and managing the production of periodic and ad-hoc reports needed by various internal and external stakeholders to effectively manage the business and meet reporting obligations. Central roles of this position include managing the monthly close, budgeting, forecasting, and reporting processes for both consolidated and non-consolidated entities and ensuring that robust documentation is maintained for each joint venture, including significant accounting positions and U.S. GAAP adjustments. As part of these processes, the Manager will supervise professional associates and assist in guiding their professional development and will also develop, foster, and maintain strong collaborative relationships with departments and individuals throughout the Company’s organization, as well as with joint venture partners, bookkeepers, auditors, bankers, and tax and financial reporting specialists. This position reports to the Senior Manager, Joint Venture Accounting, and is a key member of the Marriott’s Corporate Financial Accounting (“CFA”) management team.
- Ensure that the Company’s interests in JVs are properly accounted for and properly reported on the Company’s books, including converting local GAAP to US GAAP for international ventures.
- Develop, maintain, and manage the JV-related reporting processes that provide timely, accurate, and decision useful information to a variety of stakeholders including Continent finance teams, Asset Managers, Financial Reporting and Analysis, auditors, Investor Relations, JV partners, external professional services firms, and regulatory authorities. Analysis of JV results and the preparation of financial statements, footnote disclosures, long range plans, budgets, forecasts, and audit related PBCs are examples of such information. Identify opportunities and assist in the development of improvements to the JV Reporting process that enhance efficiency.
- Establish and maintain strong relationships with joint venture partners to facilitate the accumulation of timely information for each JV.
- Manage and develop accounting professionals, prioritize projects and workloads, and establish deadlines around those priorities.
- Develop and maintain a strong control environment to effectively manage compliance with Marriott policies as applicable to the JV portfolio.
- Develop and maintain processes to ensure compliance with the financial terms of JV agreements. Examples include ensuring that financial statements are reviewed and audited on a timely basis and dividends are declared and paid.
- Manage a data repository for each JV that includes all legal documents pertaining to the venture, such as the partnership agreement and audited financial statements for each fiscal year.
- Research and collaborate with others regarding technical GAAP questions, significant transactions, increases or decreases in ownership interests, property-level debt refinancing, distributions, impairments, reporting considerations, and capital calls.
- Partner with multiple Marriott departments (Finance Business Partners, Asset Managers, and Legal) to obtain information for new JVs, review the related agreements, and ensure the agreements provide for the receipt by Marriott of necessary financial information.
- Other responsibilities as assigned.
- Six or more years of progressive job experience in accounting/finance field; international accounting exposure highly preferred.
- Strong knowledge of U.S. generally accepted accounting principles, experience with principles related to accounting for equity and fair value alternative method JV investments a strong plus.
- Strong analytical and problem-solving skills; with the ability to manage multiple time sensitive assignments simultaneously and work both collaboratively and independently.
- Experience leading a team toward the accomplishment of organizational goals and objectives and promoting a positive working environment, including promoting the development of team members.
- Exceptional communication and interpersonal skills, creating an environment allowing timely information flows into and throughout the organization. Experience understanding complex matters and articulating issues to a variety of individuals at multiple levels within the organization.
- Ability to make decisions in a timely manner and under pressure. Comfort with challenging the status quo to improve effectiveness.
- Experience with performing technical accounting research, and ability to leverage multiple tools in an effective manner while navigating complex transactions.
- Experience with accounting in a multi-currency environment under multiple bases of accounting.
- Adept at documenting and improving processes, ensuring compliance with established processes, and producing quality results.
- At ease in an environment of change; supporting, managing, and initiating change within the organization.
- Ability to sell ideas persuasively, settling differences without damaging relationships; able to be direct while remaining diplomatic.
- High degree of initiative, personal responsibility and integrity.
- Positive attitude, flexible and a high level of enthusiasm and energy.
- Experience analyzing and understanding complex legal documents.
- Self-starter and highly motivated creative thinker.
- Highly proficient with Microsoft office applications, with strong focus on spreadsheet applications.
- Experience with PeopleSoft, nVision and Hyperion Financial Systems a plus.
- Bilingual in Spanish a plus.
- BS/BA in Accounting, Finance or related discipline.
- CPA, MBA or advanced degree in Accounting or Finance preferred.
- Experience in a large public accounting firm strongly preferred.
- Real estate accounting experience a plus.