Asst. Director of Finance

$90,000 - $105,000/Yr

Highgate Hotels - New York, NY

Full-time - Mid Level

New York, NY

Administrative and Support Services

About the position

The Assistant Director of Finance plays a crucial role in the financial management of the Manhattan at Times Square hotel, ensuring that the accounting staff is well-guided and trained. This position is responsible for maintaining the profitability of the hotel by providing accurate and timely financial reporting, ensuring compliance with all relevant regulations, and safeguarding the assets of owners and investors. The Assistant Director of Finance will work closely with the Director of Finance to prepare monthly financial statements, monitor hotel revenues, and control cash flow and operating forecasts. This role requires a proactive approach to financial management, with a focus on identifying variances to budget and prior year performance, and implementing practical improvements to enhance financial outcomes. In addition to financial reporting, the Assistant Director of Finance will supervise the accounting department staff, ensuring compliance with Highgate's accounting policies and procedures. This includes preparing monthly bank reconciliations, general ledger account reconciliations, and managing receivables and payables. The Assistant Director will also be responsible for hiring, training, and developing staff, providing coaching and counseling as needed. The role demands strong organizational and analytical skills, as well as effective communication with department heads to ensure that hotel operations remain on track and under control. The Assistant Director of Finance will also prepare special reports and undertake additional projects as assigned, contributing to the overall financial health of the hotel.

Responsibilities

• Assist Director of Finance in timely preparation of monthly financial statements for the property
• Prepare, monitor, and accurately record hotel revenues daily by preparation of the Income Journal
• Identify all variances to budget and last year
• Monitoring and control of hotel operations, cash flow and operating forecasts for the property
• Maintain timely interaction with Department Heads to assure that property operations are on track and under control at all times
• Preparation of monthly bank reconciliations and general ledger account reconciliations for the property
• Supervision of accounting department staff
• Compliance with Highgate Accounting Policies and Procedures and internal controls for our finance and accounting operations
• Effectively manage and communicate related issues related to management of receivables, payables, daily cash balances, and timely deposits of all funds
• Monitor hotel revenues and expenses and ensure the accurate recording in accordance with Highgate Hotel's established guidelines
• Investigate and critique variances to budget or to prior year and offer practical improvement methodologies to management
• Analyze financial data and operations in order to assist Director of Finance and advise Department Heads in maintaining the hotels' financial objectives
• Hire, train, supervise and develop staff, including coaching, counseling and discipline under the supervision of Director of Finance
• Preparation of any special reports, statements, etc., as requested
• Other special projects and responsibilities as assigned

Requirements

• Bachelor's Degree, preferably in Accounting
• Strong PC skills including Excel, Word and financial accounting systems
• Strong organizational, analytical, verbal and written communication skills
• Hospitality related financial management and accounting experience desirable