Director of Finance
One Penn Plaza, Suite 3905 New York, NY 10119
Director of Finance - Hotels
Hotel Corporate Director of Finance is responsible for assisting Head of Hospitality & Exec VP of Finance in various financial reporting
DOF functions as the strategic financial business leader for a multi-property portfolio. This position champion develops and implements property-wide strategies that deliver products and services to meet or exceed the needs and expectations of the target customer and property employees.
This position provides the financial expertise to enable the successful implementation of the service strategy and initiatives while maximizing the return on investment. Also, creates and executes a business plan that is aligned with the property and business strategy and focuses on the execution of financial and accounting activities and the delivery of desirable financial results.
Position Duties and Responsibilities
- Ensure monthly GAAP financial statements are accurate and reported on a timely basis
- Ensure balance sheet accounts are reconciled monthly and any issues are addressed timely
- Review and report on accounts receivables monthly including communicating any AR issues immediately
- Review and approve AP invoices
- Champion corporate charge backs
- Manage onsite hotel accounting staff including assessing workload and training needs
- Back up onsite hotel controllers
- Management and oversight of corporate direct reports including coaching, counseling, hiring, training, etc.
- Review Best Practices quarterly and identify any potential process improvements
- Coordinating field work for external audits.
- Quarterly lender reporting including calculate current and forecasted DSCR
- Responsible for hotel budget & forecast process both operating and capital.
- Assist and counsel department heads in the interpretation and analysis of financial data, recommending courses of action to maximize hotel profitability.
- Ensure best practice for cash control for each property.
- Develop and conduct annual Audit of property level financial reporting.
- Assist in evaluation and implementation of standard/consistent sales bonus and commission programs across the portfolio.
- Ensure Profit Sword is maintained and used effectively.
- Strong curiosity and competitive drive, ' get things done' work ethic, and motivation to learn, grow and succeed.
- Champion, educate and influence leaders to adapt quickly to talent acquisition specific shifts in direction; considering impacts to business and partners.
- Special Projects as directed for process improvement.
- Special projects (i.e., evaluate to ensure properties are credit card EMV compliant, etc.)
- Macro level financial analytics for acquisition and disposition activity.
- Hold weekly staff meetings with corporate team and bi-weekly conference calls hotel controllers.
- Oversee new hotel openings from an accounting standpoint.
- Other duties as assigned.
- Protect employer’ s privacy and data; keep passwords safe.
Knowledge and Skill
- Demonstrated ability to assess and understand a variety of internal and external economic and financial issues which impact the business, to analyze data and forecast future market trends, and to develop effective financial plans based on businesses assessments in multiple locations.
- Demonstrated experience in leading & developing people and multiple teams. Strong communication skills, both verbal and written to address all levels within the organization and ability to gain consensus and influence others.
- Ability to travel is required; spend approximately one week in either NY or Columbus office per month as directed by the Head of Hospitality.
- Demonstrated experience with accounting system or similar financial software for financial reporting, analysis, and presentation.
- Demonstrated knowledge of finance, budgeting and accounting processes and regulations with demonstrated knowledge of capital project management, standards and techniques, and GAAP regulations and procedures.
- Ability and desire to reduce closing times, impact the business and bring the group to higher levels of performance.
- Excellent technical accounting fundamentals and understanding of GAAP.
- The ideal candidate has previous experience managing multiple hotels or business units.
- Hands-on leadership expertise in a broad array of business situations ranging from growth to integration is preferred.
- Advanced skills in business technology including all Microsoft applications.
- Accounting Designation, Bachelor' s or Master' s Degree in Business, Finance, or a relevant field of work, or an equivalent combination of education and work-related experience.
- CPA required
- MRI experience strongly preferred
- Five years of work experience as a Director of Finance, ideally in multiple progressive, in size and complexity, hotels.
- Experienced in all areas of finance and accounting; capital project management, financial reporting, and analysis, merger and acquisition analysis, and related areas.