Essential Job Functions/Key Job Responsibilities
• Create and execute business plans that are aligned with the properties and brand’s business strategies
• Plan, organize, direct and control the financial operations while ensuring the security of hotel assets, maximizing the return on investment, providing timely and accurate reporting and analysis of results and integrity of the management information systems
• As a member of the hotel’s Executive Committee, the Director of Finance is a highly visible role with exposure to Senior Corporate leaders and Asset Managers of owning entities
• Lead in the completion, review and presentation of monthly forecasts, annual operating and capital budgets and business plans prepared by hotel management team to provide stakeholders with reasonable and achievable guidelines of performance aligned with the Company’s and brand’s strategic direction
• Prepare accurate, timely and complete monthly financial statements with detailed workpapers and schedules in accordance with the company’s policies and procedures, applicable hotel management agreements, and Generally Accepted Accounting Principles (GAAP)
• Responsible for risk management to preserve hotel property and reduce potential liability claims
• Manage and control receivables, payables, credit, payroll, cash handling, and treasury functions with the hotel’s accounting department staff
• Distribute outlook and forecast information as an up-to-date management tool for operating departments, review and analyze variance versus actual results to measure and improve accuracy
• Maintain insurance coverage for protection against property losses and potential liabilities and ensure that all licenses, permits, contracts and legal agreements are up to date
• Use financial and operational performance analysis, including benchmarking, to maximize hotel’s revenue, GOP flow-through and bottom-line financial return
• Comply with record retention as required for internal and external audits, coordinate audit visits, respond to auditor requests, government regulations, federal, state and local laws and contractual agreements, including CBA’s
• Monitor purchasing/ordering/delivery compliance, analyze reports from company-mandated buying programs, and approve all purchases, and expenses
• Other duties as assigned