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Position Overview:
The Director of Finance will plan, direct, and manage the provision of accurate, timely, and objective financial data from which informed management decisions can be made. Recommend remedial action when and where necessary. Safeguard owner assets by creating and maintaining sound internal control systems. Hire the most professional, service-oriented, dedicated highly skilled, trained staff available. Participate in total hotel management as a member of the hotel Executive Committee.
The Director of Finance will plan, direct, and manage the provision of accurate, timely, and objective financial data from which informed management decisions can be made. Recommend remedial action when and where necessary. Safeguard owner assets by creating and maintaining sound internal control systems. Hire the most professional, service-oriented, dedicated highly skilled, trained staff available. Participate in total hotel management as a member of the hotel Executive Committee.
Major Duties & Responsibilities:
Direct preparation of annual budgets and monthly forecasts; establish or recommend to management major economic objectives and policies for Hotel.
Support General Manager and hotel financial goals by direct preparation of monthly and annual reports summarize and forecast hotel’s revenues, expenses, and earning based on past, present and expected operations.
Ensure compliance with YOTEL policies and procedures and all applicable laws.
Setup accounting policies and procedures to assure proper recording of revenue and expenses
Hire, train, supervise and direct accounting staff to ensure accurate bookkeeping and timely reporting of financial data.
Maintain accurate cash flow projections and analysis.
Supervise the Finance Team; interview, recommend hiring, train, develop, empower, schedule, coach and counsel, recommend and conduct performance and salary reviews, resolve problems, provide open communications and recommend discipline and termination, as appropriate.
Supervise the daily accounting operations ensuring compliance with the SOPs and Federal, State and local laws and regulations.
Analyze and reconcile all general ledger accounts and bank statements to ensure financial information is available and accurate.
Prepare financial statements and reports to ensure accurate, timely information is available for management.
Assist in the compilation and preparation of the annual budget, forecasts, taxes and other financial reports to provide support thus ensuring accurate, timely information is available for management and owners.
Train, monitor and coordinate the implementation and maintenance of financial and cash controls and information flow throughout the other departments in the hotel to ensure compliance, accurate records and minimize liabilities, losses and expenses.
Resolve problems and ensure maintenance of the accounting systems and equipment to ensure smooth operations.
Analyze and be familiar with tenants, leases and rent reports and ensure hotel follows hotel leases and management contracts.
Has a fiduciary responsibility to company and management.
Ensure that all licenses, permits, and insurance policies are current.
Counsel management and department heads in financial matters to ensure hotel’s assets are yielding maximum return.
Make sure hotel follows governmental rules and regulations.
Conduct monthly P&L meetings, assist all department heads in the interpretation of financial data, and recommend a course of action to maximize profitability.
Evaluate and advise on the impact of long-range planning, introduction of new programs/strategies and regulatory impact.
Collaborate with Operations and other company discipline teams to development and implement
This position description is not intended to be an exhaustive list of all duties, responsibilities, or qualifications associated with the associated with the position. May perform other duties as assigned.
