Director of Finance

The Director of Finance is responsible for providing ethical and consistent leadership in the financial area of the hotel by supplying management with guidance, training and support.  The DOF is also responsible for focusing on the profitability of the business, maintaining accurate and timely financial reporting, ensuring acceptable levels of internal controls, ensuring compliance with all federal, state, and local regulations, and safeguarding owners/investors assets.

Financial:

• Acts as the “Chief Business Officer” to the general manager and EC Team, and as such is responsible for evaluating the financial impact on business decisions.
• Ensure that all levels of management are promptly notified of any financial deviations from established policies and/ or control weaknesses in the hotel.
• Effectively manage and communicate cash flow related issues, as required to management and ownership.  This includes the accurate and timely preparation of cash-flow statements, management of receivables, cash balances, control mechanisms and timely deposits of all funds.
• Monitor hotel revenues and expenses and ensure the accurate recording in accordance with HRP1, LP established guidelines.  Investigate and critique variances to budget or to prior year and offer practical improvement strategies to management.
• Monitor the capital planning process by assisting management with calculations of return on capital improvements, gathering support and monitoring the bid process, and evaluating scope of work and specifications.
• Ensure hotel’s compliance on all regulatory licenses and permits, leases, contracts, legal agreements, and the proper execution of all operational taxes.  Provide assistance to management in enforcing compliance on all these items.
• Coordinate the completion of all forecasts and budgets as required, with the full and active participation of EC Team and department managers.
• Analyze financial data and operations in order to assist and advise management in maintaining the hotel’s financial objectives.
• Ensure that all balance sheet accounts, including bank reconciliation’s are reconciled on a timely basis.
• Establish and continually audit all internal financial controls including purchasing, cash handling, disbursements, credit extension, inventories, hotel assets, master keys, payroll, and employee records.
• Embrace a continuous growth environment by actively hiring professional staff and assisting in recruiting, reviewing, recommending and maintaining an inventory of qualified and promotable Associates that can potentially become Directors of Finance, Assistant Directors of Finance, Accounting Managers, and other managers for the organization.
• Continually focus on training and development programs for finance associates to cultivate the “brightest” and “best” talent within the industry.
• Hire, train, supervise and develop staff, including coaching, counseling and discipline.
• Maintain compliance with HRP1, LP standards and regulations to ensure safe and efficient operation of the hotel.
• Ensure proper utilization, maintenance and periodic upgrades of all IT systems and equipments.
• Direct and/or prepare all financial reports in accordance with HRP1, LP requirements meeting various due dates and deadlines:

Daily:

• Review and submit the officer charges, DSR, Protobase report, daily deposits log, daily credit card log.
• Ensure timely deposit of all cash and transmission of Credit Cards and audit daily.
• Review Labor Report for overtime and any variance to Forecast and send out punch card exceptions.

Weekly:

• Review departmental Checkbooks and advise of any needed changes.
• Distribute and discuss weekly G/L report with department managers. 
• Ensure AP posted through end of week. 
• Ensure banquet checks are all invoiced to customers
• Ensure there is sufficient cash to meet all scheduled obligations via the weekly CFR.

Monthly:

• Reconcile Balance Sheet with proper back that maps to all account balances
• Ensure that all banks are counted and map to Bank balance.
• Count the main vault.
• Review “Key Financial Controls” Checklist to ensure adherence and compliance.
• Review actual numbers to forecast to find discrepancies in forecasting to improve accuracy in future months.  Primarily with expected cash deposits weekly
• Actively participate, complete and review the forecast with Department Heads prior to submission.

Annual:

• Complete the Self Audit Checklist bi-annually.
• Conduct a surprise payroll audit bi-annually.
• Actively participate, complete and review the annual budget with Department Heads prior to submission.
• Prepare all analysis that may be required by ownership and outside accounting firms.

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• Conduct and/or attend and contribute to periodic meetings to maintain favorable working relationships among employees and promote maximum morale, productivity, and efficiency:

Executive Committee                         Sales & Service                       Financial Review

Departmental Budget & Forecast       Credit & Collection                Business Review & Meeting

• Ensure and monitor that the hotel is in compliance with all report deadlines and due dates and react accordingly.

• Maximize efforts towards productivity, identify problem areas and assist in finding and implementing their solutions
• Approach all encounters with guests and employees in an attentive, friendly, courteous and service-oriented manner.
• Maintain regular attendance in compliance with HRP1, LP standards, as required by scheduling which will vary according to the needs of the hotel.
• Maintain high standards of personal appearance and grooming, which include wearing the professional attire and nametag when working.
• Comply at all times with HRP1, LP standards and regulations to encourage safe and efficient hotel operations.

Management:

• Participate in M.O.D. coverage as required.
• Attend meetings/ training as required by management
• Perform other duties as requested by management.
• Oversee Night Auditors and confirm proper operation of nightly reports for accuracy and completeness of data reported.

Education & Experience:

• A minimum of 8 years of related progressive experience in hotel Accounting or related field; or a 4-year college degree with an Accounting/ Finance concentration and a minimum of 4 years of related progressive experience; or a 2-year college degree and a minimum of 6 years of related progressive experience.

Physical Requirements:

• Long hours sometimes required.
• Sedentary work, exerting up to 25 pounds of force occasionally and/or negligible amount of force frequently or constantly to lift, carry, push, pull or otherwise move objects.

Mental Requirements:

• Must be able to convey information and ideas clearly.
• Must be able to evaluate and select among alternative courses of action quickly and accurately.
• Must work well in stressful, high pressure situations.
• Must maintain composure and objectivity under pressure.
• Must be effective in handling problems in the workplace, including anticipating, preventing, identifying and solving problems as necessary.
• Must have the ability to assimilate complex information, data, etc., from disparate sources and consider, adjust or modify to meet the constraints of the particular need.
• Must be effective at listening to, understanding, and clarifying the concerns and issues raised by co-workers and guests.
• Must be able to work with and understand financial information and data, and basic arithmetic functions.
• Must be able to prioritize departmental functions in order to meet due dates and deadlines.

• Audit daily DSR, officer charges (comps), payroll punches, and daily opera download.
• Timely file and pay sales and occupancy tax reports. (Assistant Director of Finance)
• Monitor Accounts Payable to ensure HRP1, LP payment standards are met. (Assistant Director of Finance)
• Monitor WAWF.
• Prepare, fund from operating account, and execute monthly payroll and payroll report.
• Execute monthly transfers to employee 401K program.
• Review gratuities for outlets and banquet servers.
• Reconcile all bank accounts monthly as part of the month- end closeout for P&L report.
• Reconcile transportation log and charges as part of monthly closeout.
• Reconcile AV matrix monthly as part of the monthly closeout
• Review and reconcile banquet check invoices to BEO’s to confirm all are charged for.
• Confirm nightly that proto-base properly received all credit card charges and map directly to the daily trial balance.
• Conduct and audit monthly food and beverage inventory with the Director of Food & Beverage,
• Audit monthly Health / Vision/ Dental/ 401K insurance adds/ removes to ensure all employees are properly enrolled for desired benefits, and proper wages are deducted from their payroll.
• Monitor monthly vacation accrual and usage in accordance with HRP1, LP. vacation policy and monitor Microsoft excel spreadsheet.
• Manage American Express cards and accounts to ensure authorized use and process and ensure timely payment monthly.
• Monitor weekly CFR.
• Manage room dedication payments and deposits into escrow accounts and update the excel spreadsheet.
• Manage monthly interest calculation spreadsheet for loans and leases.
• Reconcile room stats monthly to ensure proper department allocation of revenue.
• Manage Construction in Progress expenses as Capital Improvements as opposed to Operating Expenses and properly posts to balance sheet.
• Manage and oversee all transfers from multiple accounts to include wire transfers
• Manage and oversee all purchases maps to bank accounts and credit cards and is in accordance with HRP1, LP. purchasing policy.
• Manage Balance sheet monthly to ensure all entries map directly to End-of- Month statements from banks
• Reconcile credit card invoices for proper billing for credit card processing fees monthly and confirm all credits are properly received in our depository accounting.
• Post all expenses to MAS 90 in proper chart of accounts for prep of monthly P&L
• Properly report monthly the operations in P&L and comparison to budget monthly and annually with a narrative overview of the results.
• Manage gift certificate revenue/ liabilities properly on the balance sheet.
• Manage and fund accrual for the FFE, Partner Preferred Return, Sales Commissions, Occupancy and Sales taxes.
• Manage package clearing and debit/credit proper departments.
• Calculate and pay the Army Fund fee monthly
• Provide monthly food and beverage cost credit to F&B department to offset Champagne Brunch and other COMP charges that do not have revenue associated.
• Monitor all insurance policy expiration dates to include Property/ Liability/ Umbrella/ Health/ Dental/ Vision/ Worker’s Compensation/ Valet and Garage Keepers/ LRC and Paint Ball
• Oversee and validate all sales commission for payment to include Front Desk and Sales department.
• Manage the copier usage and bill departments accordingly