Director of Finance

About This Role

Directing the financial strategy of the property is the core of this role, ensuring that all financial activities align with the brand's goals and maximize return on investment. This position suits a strategic financial leader who can develop and implement property-wide strategies to deliver excellent products and services while maintaining strong financial controls.

Responsibilities

• Develop means to improve profit, including estimating cost and benefit and exploring new business opportunities
• Analyze information, forecast sales against expenses, and create annual budget plans
• Compile information, analyze, and monitor actual sales against projected sales
• Analyze differences between actual budget wages and forecasted wages for more efficient budget planning
• Identify the underlying principles, reasons, or facts of information by breaking down information or data into separate parts
• Think creatively and practically to develop, execute, and implement new business plans
• Create the annual operating budget for the property
• Provide analytical support during budget reviews to identify cost-saving and productivity opportunities for property managers
• Implement a system of appropriate controls to manage business risks
• Ensure a strong accounting and operational control environment to safeguard assets, improve operations, and profitability
• Analyze financial data and market trends
• Lead the development and implementation of a comprehensive annual business plan aligned with the company
• Provide ongoing analytical support by monitoring the operating department
• Produce accurate forecasts that enable operations to react to changes in the business
• Utilize interpersonal and communication skills to lead, influence, and encourage others
• Advocate sound financial/business decision-making
• Demonstrate honesty and integrity and lead by example
• Communicate strategic goals, focus, and owner priorities to subordinates clearly and precisely
• Leverage strong functional leadership and communication skills to influence the executive team, the property's strategies, and to lead own team
• Oversee internal, external, and regulatory audit processes
• Provide excellent leadership by assigning team members and other department managers clear accountability backed by appropriate authority
• Conduct annual performance appraisals with direct reports
• Attend meetings and communicate with owners, understanding their priorities and strategic focus
• Understand and meet the needs of key stakeholders (owners, corporate, guests, etc.)
• Advise the GM and executive committee on existing and evolving operating/financial issues
• Communicate financial concepts in a clear and persuasive manner that is easy to understand and drives desired behaviors
• Demonstrate an understanding of cash flow and owner priorities
• Manage communication with owners effectively
• Manage property working capital and cash flow in accordance with brand standard operating procedures and owner requirements
• Facilitate critique meetings to review information with the management team
• Ensure Profits and Losses are documented accurately
• Monitor all applicable taxes, ensuring they are current, collected, and/or accrued
• Submit reports in a timely manner, ensuring delivery deadlines
• Develop and support achievement of performance goals, budget goals, and team goals
• Improve profit growth in operating departments
• Review audit issues to ensure accuracy
• Monitor the purchasing process as applicable
• Generate and provide accurate and timely results in the form of reports and presentations
• Reconcile the balance sheet to ensure account balances are supported by appropriate documentation
• Ensure that the P&L is accurate (e.g., costs are properly matched to revenue, costs are recorded in the proper accounts)
• Ensure compliance with management contract and reporting requirements
• Ensure compliance with standard and local operating procedures
• Ensure team members are cross-trained to support successful daily operations
• Ensure property policies are administered fairly and consistently
• Ensure new hires participate in the department
• Ensure new hires receive appropriate new hire training to successfully perform their job
• Create appropriate development plans which develop team members based on their individual strengths, development needs, career aspirations, and abilities
• Conduct the performance review process for employees
• Participate in hiring activities as appropriate

Requirements

• 4-year bachelor's degree in Finance and Accounting or a related major with 3 years of experience in the finance and accounting or related professional area
• OR a Master's degree in Finance and Accounting or a related major with 1 year of experience in the finance and accounting or related professional area