Director of Finance

Leadership Requirements

General

• Continuously deliver the highest level of product with respect to financial reporting and analysis, internal control compliance and business management. Ensure this is done with both integrity and accuracy

• Excellent understanding of local labor and financial laws and unions

• Strong interpersonal relationship-building skills to work with cross-functional teams, to negotiate for resources and influence stakeholders, to gain acceptance of and commitments to plans, ideas and initiatives

• Highest level of integrity and transparency and apply an ethical approach to influence the outcomes of situations

People

• Maintain harmonious and professional relationship with all departments, owners and Home Office

• Ability to attract and retain local talent in a challenging market & support their development and growth

• Maintain close relations with hotel’s ownership and internal/external auditors and ensure effective action necessary on all agreed upon recommendations

• Conduct effective department meetings; appropriately communicate and complete any action items

• Assist General Manager in establishing policies, rules, internal controls and safeguard

• Actively network within the community to attract potential candidates for recruitment purposes and understanding the competitive market

Product

• Ensure that bank accounts are opened in consultation with owners with a bank of strong financial standing and if local rating services are available, they should be utilized for verification of financial strength

• Ensure the preparation of a comprehensive monthly report of the entire financial results of the hotel in established corporate formats and in accordance with generally accepted accounting principles

• Effectively advocate Finance Department programs and policies to Planning Committee, Department Heads and employee group

• Ensure that monthly reconciliations for all balance sheet accounts are prepared and signed off on in accordance with policy

• Review and sign off on all bank reconciliations monthly, paying special attention to reconciling item

Profit

• Monitor, control and record all sales, purchases, salaries and expenses of the hotel

• Closely monitor and effectively manage labor costs; plan vacations effectively and ensure proper service levels are provided with the labor standards, while minimizing OT. Comply with applicable Employment Law

• Prepare forecasts and budgets as required locally, by corporate office or Management Agreement

• Review the cash position of the hotel on daily basis in order to optimize the use of funds.  

• Ensure gains/losses on the sale/disposal of fixed assets are properly disclosed and recorded on the Statement of Changes in financial position and on the P&L statement