Director of Finance - Hotel

Director of Finance – Hotel Industry
Western Chicago Suburbs
$110,000 + 35% bonus (target)

Top-5 hotel management company is recruiting for one of its most acclaimed, beautiful and sought-after properties located in the greater Chicago, IL area (30-40 min from downtown Chicago). This gorgeous, well-located hotel boasts incredible amenities, excellent F&B, spacious conference rooms and delivers best-in-class service and hospitality.

The Director of Finance will operate and lead a team of 2-3 accounting staff at the property, and drive financial excellence internally and externally with management, executives and stakeholders.

Role Scope:

• 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, support and 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.
• Evaluate 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 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 calculation of return on capital improvements, gathering support and monitoring the bid process, and evaluating scope of work and specifications.
• Ensure hotels’ 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 management team.
• Analyze financial data and operations in order to assist and advise management in maintaining the hotels’ financial objectives.
• Ensure that all balance sheet accounts, including bank reconciliations 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 Controllers, Assistant Controllers, 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 standards and regulations to ensure safe and efficient operation of the hotel.
• Ensure proper utilization, maintenance and periodic upgrades of all IT systems and equipment.
• Direct and/or prepare all financial reports in accordance with CHR requirements meeting various due dates and deadlines.
• Review and submit a Daily Revenue Report.
• Ensure timely deposit of all cash and transmission of Credit Cards.
• Review Labor Report for overtime and any variance to Forecast.
• Review departmental Checkbooks and advise of any needed changes.
• Distribute and discuss weekly G/L report with department managers.
• Update GM on any unfavorable financial issues impacting the month.
• Ensure there is sufficient cash to meet all scheduled obligations.
• Reconcile Balance Sheet with proper back up.
• Ensure that all banks are counted.
• 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.
• Participate in the monthly Credit Meeting.
• Actively participate, complete and review the forecast with Department Heads prior to submission.
• Perform any other job-related duties as assigned.

Experience/Requirements:

• 5+ years of experience in hotel accounting
• Major brand experience preferred
• Doubletree experience helpful
• BS Degree is preferred but not absolutely required (in lieu of experience)
• Strong PMS/property systems preferred
• MS Excel skills
• Some management training is required
• CPA is preferred but not required
• Sense of ownership, an operational knack for success and an eye for numbers
• Sound, sensible management/leadership skills and attitude
• Should hold a sense of accountability to owners, asset management and operator

Compensation:

• $110,000 base salary
• Up to 35% target bonus
• Excellent benefits, 401k, PTO etc.
• Relocation available

IND123