Hotel Financial Controller
Key Accountability and Responsibilities
To be responsible for all accounting and financial requirements for the Hotel in an environment of tight control. Providing financial support, advice and expertise to the General Manager and Hotel Team, with the aim of maximizing value. To develop the quality of the finance function within the Hotel.
Financial Accounting & Control
Best practice financial accounting processes in a robust control environment
• Overall management of the accounting records and financial reports of the hotel ensuring compliance with company, owner, statutory and fiscal requirements and timetables.
• Ensure that the balance sheet is a fair reflection of the assets and liabilities of the hotel. The balance sheet must be regularly reviewed and reconciliation's performed of all accounts.
• Maintain a focused system of internal controls, which will provide an effective and efficient control over the hotel assets, liabilities, revenue and costs. Ensure compliance with company policy.
• Ensure legal and tax compliance and that adequate insurance cover is maintained.
• Ensure proper permits and licenses have been obtained for such matters as hotel operations (occupational license, alcoholic beverage license, etc.). Take responsibility for the safekeeping and updating of all leases and contracts, which may affect the financial status of the hotel.
• Liaise and co-operate with both Internal and External Audit. Ensure that an effective program of in-hotel audit is in place and that corrective action is promptly taken where required. Give particular emphasis to ensuring that all revenue is captured. Make use of a daily/weekly/monthly control checklist (Separate attachment).
• Develop best practice financial accounting and control procedures. Financial reporting and control to be an area of continuous review and development with the aim of maximizing both impact and efficiency.
Focused, innovative and balanced reporting that stimulates management action
• Develop high quality management information and performance measurement that is timely as well as accurate. Reporting should be thought provoking and action oriented.
• Implement reporting that incorporates benchmarking, identification and measurement of key performance indicators, and use of the balanced scorecard. Reporting should not only look to historical performance within the hotel, but also outwards and forwards.
Provision of the highest standards of financial and commercial support to the Business
• Support and advice on financial and commercial matters to the General Manager and to the hotel team, including the interpretation of financial data.
• Review management information for the hotel and make proposals for the General Manager for value added initiatives. Where appropriate, play the "Devil's Advocate" to challenge practices and proposals from other Dept Managers.
• Provide financial and commercial skills to support business development initiatives, major pricing decisions and other commercial decision making.
Information Technology & Systems
Optimize the use of I.T. within the finance department to improve efficiency and information
• Full support the implementation of financial systems in the hotel.
• Ensure proper use and maintenance of financial systems, including adequate security and back up procedures.
Optimizing returns on capital investment
• Utilize project evaluation techniques to assist in directing investment to those projects which optimize returns both for the individual project and the enterprise as a whole.
• Perform post investment audit on major capital investments.
• Maintain proper control and recording of project spends.
• Where applicable, prepare review and be involved in the production of financials for new developments and acquisitions.
Operating against meaningful strategic plans and budgets with accurate forecasting
• Take a support role to the General Manager in hotel strategic planning. Particular emphasis on Master-Planning and "thinking outside the box" to identify value opportunities.
• Manage the formulation, review and approval process for budgeting within the hotel.
• Ensure a regular cycle of forecasting takes place within the hotel with content and detail appropriate to the needs of the operation.
Investment in People
Ensuring the best person in each job, in an environment of continuous development
• Recruit and retain the best people for the job, especially at Accounting Assistant level. Make use of succession planning to develop and replace individuals effectively. Establish and maintain good employee relations within the Accounting Department.
• Aim to maximize efficiency in the Accounting Department. Recognize that a highly organized accounting office is often a sign of an efficient department.
• Develop the effectiveness of the hotel finance function through the ongoing training and development of the team. Lead and motivate the team to high levels of performance.
• Ensure you manage to specific measurable objectives. Give regular feedback including appraisals.
• Provide training to enhance the financial skills of the Management Team as a whole.
Cash & Working Capital
Optimize cash position in an environment of tight control
• Minimize the level of working capital, with particular emphasis on the management of debtors, stocks and sundry receivables. Maximize interest earnings and minimize interest expense.
• Maintain accurate cashflow forecasts for at least one year ahead, and ensure adequate notice is given to Owners, of any future cash requirements.
• Ensure full reconciliation of all bank accounts on a monthly basis. The highest standards of control must be maintained over all cash and bank balances at all times.
Support the operation to optimize efficiency of the cost base
• Understand and measure cost drivers for the hotel. Utilize innovative analysis to stimulate thought and management action.
• Ensure that adequate purchasing procedures are in operation so that purchases of goods and services are made in the most cost-effective manner.
• Benchmark costs against other hotels. Identify cost reduction opportunities. Manage financial risks of the business.
• Set an example to the hotel by operating an efficient and cost effective finance department.
Privately owed Boutique Hotel, conveniently located on the heart of South Beach, Miami.
We count with 127 rooms in a very fast pace environment.
Hotel has expanded with 20 new rooms on the last year.
+3 years of Hospitality Management or similar experience.
Flexible schedule includes Weekends and Holidays.
Fluency in a second language, preferably Spanish.
Miami Beach, FL
Thu, 4 May 2017 10:11:28 PDT