Director of Finance

Job Summary

The Director of Finance is a key member of the Hotel's Executive Committee and will work closely with all Department Heads of the hotel to ensure the Hotel meets its financial strategies and objectives.

This position provides continuous leadership and guidance in all matters relating to the financial operation of the hotel by providing accurate and timely financial reports to assist management decision making process, maintaining acceptable internal control procedures designed to safeguard owners/investors assets, ensures compliance with all Federal, State, Local regulations. The position reports to the Hotel General Manager.

Essential Functions

• Compiles financial data related to operations, investigates and critique variances from expectations to determine cause and recommends appropriate management response to insure attainment of hotels financial objectives.
• Attends various departmental meetings in order to maintain effective working relationships with operational departments and staff.
• Establishes and oversees /audits all internal financial controls to include purchasing, cash handling, receipts, disbursements, expendable/fixed asset inventories, payroll, and employee records to ensure policies are enforced according to Hotel standards.
• Coordinates annual internal and external audit processes.
• Ensures the proper utilization, maintenance and periodic upgrading as required of all EDP systems and equipment.
• Assists management in the capitol planning process by providing appropriate ROI information.
• Coordinates the development of the annual financial plan.
• Assists division and department heads in the preparation of their respective budgets.
• Maintains files pertaining to and ensuring compliance with insurance policies, all contracts and legal agreements.
• Manage/oversee the accounting department to ensure optimal efficiency of financial operations and adherence to Hotel commitments to management contract.
• Directs or prepares all financial reports, ledger reviews and forecasts according to the established schedule, for distribution of operational information necessary to assist management in decision-making and budget preparation processes.
• Oversees preparation of, interprets and analyzes monthly financial statements and presents to General Manager, then department heads.
• Monitors revenues/expenses and ensures accurate recording of information complying with Hotel established guidelines.
• Prepare capital reviews as required by the Hotel General Manager, Asset Manager and CFO.
• Ensures proper, timely payment of fees for licenses, permits, regulatory contracts and insurances, all taxes.
• Serves as active member of Executive Committee and attends all meetings of same.
• Directs cash management activities to ensure the proper use and timely availability of funds.
• Conducts/oversees monthly audit of General Cashiers vault.
• Ensures compliance with federal, state, and local legal requirements by researching existing and new legislation, consulting with outside advisors, and filing financial reports. Advises management of actions and potential risks.
• Respond to auditors’ comments concerning finances and operations and oversee required action to address deficiencies.
• Implement and monitor payment authority practices.
• Establish and maintain cash controls.
• Monitor department spending and recommend corrective actions as necessary.
• Reconcile general ledger accounts.
• Review the balance sheets, ensure reconciliations are performed.
• Guides financial decisions by establishing, monitoring, and enforcing policies and procedures.

Other Duties

• All Associates are required to fully comply with hotel and departmental rules, regulations, and policies for the safe, secure, effective, and environmentally friendly operation of the hotel facilities.   Examples include, but are not limited to lost and found procedures, emergency procedures, recycling efforts, etc.
• Attend and participate in all hotel and/or departmental meetings, training sessions and other information meetings.
• Comply with hotel grooming standards for both uniformed and non-uniformed associates.
• Comply with hotel service and behavioral standards towards our guests, vendors, and fellow colleagues, including, but not limited to ensuring proper pho