Director of Finance - AccorHotel

How will your day be...

As the Director of Finance you will 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.

Here are some of the responsibilities that await you;

Planning & Organizing:

• To provide accurate and complete financial and management reports on a timely and accurate 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.
• Responsible for the analysis and interpretation of the financial data and communicating this in a comprehensible form of meaningful variations in the operations.
• To assist other department heads in the development and implementation of corrective action plans on internal and or external audit and operational 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.
• 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.
• The position is directly accountable to manage the hotel accounting department information and internal control systems and hotel finances in accordance with all policy and procedures. This position is accountable for the development documentation and support of Financial Polices and Operational Procedures to include performance monitoring as it relates to the hotels.
• To protect the owners and the management companys interest in the hotel assets and operations.
• 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.
• 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.
• The analysis of the balance sheet accounts on a selected basis and the preparation of the monthly internal benchmarking and operational performance analysis reports.
• Accountable for the development documentation and maintenance within hotels to ensure compliance with the requirements of internal/standard controls.
• Manage all facets of the capital process. Ensure all hotels establish and maintain the tracking of fixed assets subledgers and depreciation.
• 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.
• 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.
• To ensure that hotel accounting department is operating efficiently and at an optimum staffing levels so that there are succession plans in place for the top three positions.
• 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.
• Developing implementing and monitoring credit and collection procedures and guidelines pursuant to adopted corporate credit policies.
• The Director of Finance will be a highly motivated team player with strong accounting communication and analytical skills. Strong systems background needed.
• Performs other similar or related duties as necessary.
• The Director of Finances dual reporting responsibilities could potentially give rise to a situation where there is a conflict between the Director of Finances responsibilities. Such a situation can usually be resolved by referring to the Companys Policy and Procedures Manuals. In the event that the manuals are not specific or applicable and the General Manager and Director of Finance are not able to come to a mutually satisfactory agreement the Corporate Office should be consulted.
• The corporate Executive Director Operations Accounting along with the hotels General Manager control the selection appointment termination promotion or transfer as well as the remuneration of the Director of Finance in each hotel.

PERFORMANCE MEASUREMENT TOOLS

P&L Accuracy / Timelines

• Costs are properly matched to revenues and recorded in the proper accounts.
• Monthend information is transmitted to Corporate and Regional offices in a timely and accurate basis. Based on the detailed instructions sent out on verification of totals from the Financials System and the Reporting System.
• Preliminary statements are delivered to Executive Committee and Department heads within 2 business days of monthend and final statements within 3 business days.
• Monthly commentary of results is clear and concise with major issues identified.
• Commentaries are submitted timely with action plans to address deficiencies and a look towards the future.

Forecasting

• Accuracy is a high priority for all managers and they are held accountable. The range is not more than a 35% change from the last forecast.
• Meetings are held monthly to critique past forecast accuracy and prepare current forecast.
• Forecast is reviews with management monthly and provided to corporate recipients on a timely basis

Executive Committee Preparation

• Participates in and contributes to all material property decisions providing financial leadership.
• Consults with and supports activities of GM and members of Executive Committee.
• The financial policy and perspective is shared and understood by employees as noted in all training materials

Owner Relations

• Management Agreement terms priorities performance tests and incentive fees distribution requirements are completely understood and managed.
• Owners monthly reporting package is sent by terms outlined in the Hotel Management Agreement.
• Responses meet agreedon deadlines.
• Confidentiality of proprietary information is maintained.
• Responses are complete and accurate.
• Responses are professional in format content and presentation

Hotel Management Agreement Charges and/or Fees

• All Company related recoveries are accurately calculated and booked in accordance with the Chart of Accounts.
• Payment is made to the Company within the contract terms 30 days

Balance Sheet Reconciliation

Accounts are properly recorded in the chart of accounts and reviewed for material changes quarterly on the commentary report.

• Accounts are reconciled by the 20th day of the next month following the close of monthend.
• Account balances are documented by physical counts invoice backup and signed contracts.
• Reconciling items are immediately investigated and properly cleared in the following month.
• On a semiannual basis formal reconciliations are reviewed with the Regional Finance Team and no material observations are surfaced

Conserve Cash

• Working capital is managed needs are minimized and standards are met.
• Specifically this is to be accomplished by the monthly cash flow report and the accuracy of forecasting the balance sheet in detail.
• Segregation of duties is maintained for noncompatible cash handling functions.
• Produce and track debt test calculations and Mortgage requirements

System of Internal Control

• Sound cash disbursement and payroll controls are in place.
• Control systems are monitored and audited on a regular basis as documented by Audit Services to measure compliance with internal controls.
• Workflow schedules are reviewed and updated quarterly.
• Audit exceptions are documented and corrective action taken within 30 days.
• Controls are explained and understood by all employees as part of their job description that the employee has signed off on.
• Property managers take ownership of the control system within their departments as documented by the audit services team.
• Segregation of duties for noncompatible functions is enforced.

Capital Expenditures

• Policy on Capital is understood and followed.
• Capital needs (current or future) are anticipated and properly planned and completed.
• AFEs are prepared and approvals obtained before any capital funds are committed or spent.
• Capital expenditures are properly accounted and reporting system is uptodate with the cash flow projection and used as a management tool.

Analysis

Operating results are critiques each month on a timely basis with follow up actions to major issues identified by the 10th business day.

• ROI capital projects are analysed prior to committing funds

Tax/Legal/Insurance Compliance

• Tax rates used are current and accurate.
• Proper amounts are collected/accrued by the 20th.
• Taxes are paid on a timely basis.
• Ensuring that all applicable permit and licenses are in place.
• Maintain Hotel Insurance requirements.
• Require that one person on the accounting staff takes a tax refresher course yearly to ensure that all tax requirements are fulfilled.

Policy Administration

• A thorough knowledge of understanding and proper application of policies and procedures.
• A high level of integrity (Personnel Control Accounting and Policy) is maintained.
• Operating /business issues are reviewed and resolved with General Manager.
• Issues surrounding Accounting Policy or Controls are reviewed with GM and Regional Finance.
• Open lines of communication exist and are used by Director of Finance & Accounting on questionable issues with Area Director Operations Accounting and Corporate Accounting office.

The Director of Finance is primarily responsible for enforcing all policies and procedures set out in the Companys Finance and Accounting Policies and Procedures Manual. In addition the Director of Finance is responsible for the following:

• 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 is responsible for interpreting said reports and then communicating the results with the General Manager and relevant department heads.
• The Director of Finance will assist in preparing the annual budget and the monthly revised forecastsin conjunction with the General Manager and other department headsin the formats established by corporate office. The General Manager is responsible for the budgets and forecasts while the Director of Finance is responsible for accurately compiling the figures and for ensuring that the General Manager is fully cognizant of all factors that formulate the budget.
• In addition to the budget preparation the Director of Finance is responsible for reporting the actual results as compared to the budgeted/forecasted results. He/she is also responsible for maintaining adequate records to reflect the comparison of the actual expenditures for furniture and equipment and operating equipment to the budgeted amounts.
• The Director of Finance is jointly responsible along with the General Manager for coordinating approved expenditures programs with forecasted cash flow. Procedures governing capital expenditures are specified in the Policy.
• The Director of Finance is responsible for preparing an accurate actual monthly cash flow statement and a reasonable estimate of anticipated cash needs or distributions each month.
• The Director of Finance has unlimited rights of study and complete access to all facts and figures concerning the operation of the hotel and as such he/she may go into any department ask any questions and conduct any studies that are deemed necessary. It is therefore the Director of Finances responsibility and obligation to exercise reasonable tact and to refrain from giving orders to any employee not within his/her jurisdiction.

What are we looking for....

Alongside these key competencies the incumbent of the role will be required to demonstrate the fundamentals of the companys Heartist service culture to be responsive respectful and deliver a great experience.

Leading Myself

• Positive Orientation
• Operational Decision Making
• SelfDevelopment & Management

Leading Others

• Developing an Empowered Team
• Leading an Engaged and Diverse Team
• Communication

Leading the Business

• Advocating Guest Passion
• Business Planning and Analysis
• Business Improvement and Change

You should come with the following

• Diploma/Degree in Hospitality Management and/or Accounting
• Familiarity with financial systems: OPERA MICROS ACCPAC HYPERION.
• Minimum of 510 years experience in a senior finance position

Your strengths will include

• Feeling safe under pressure and like to solve problems in a dynamic environment.
• Being comfortable in a challenging environment where you can just be yourself
• Your ego will be left at the door and you LOVE helping and collaborating with others
• You thrive on motivation others and providing unconditional support to others
• Having fun at work is you kind of thing. You work hard but also have fun along the way and enjoy being around your teams

You will report to the General Manager.