Director Finance ($118,500 - $142,300/year)
Aimbridge Hospitality - Long Beach, CA
posted 4 months ago
About the position
The Director of Finance is a pivotal role responsible for overseeing all financial activities related to budgeting, forecasting, profit and loss reporting, and account reconciliation for the Queen Mary Hotel. This position requires a comprehensive understanding of financial management within the hospitality industry, ensuring that all accounting activities, including auditing, cashiering, accounts payable, accounts receivable, tax compliance, payroll, and month-end processing, are executed accurately and efficiently. As a high-profile member of the Executive Committee, the Director of Finance is expected to work diligently to fulfill job responsibilities, often requiring extended hours and flexibility in scheduling to meet the demands of the business. In this role, the Director will lead a dynamic finance team, fostering professional development and ensuring that the team is highly motivated and cross-trained. The position demands strong leadership and strategic decision-making skills, as the Director will be responsible for developing and executing business strategies that align with the company's goals. The ability to communicate complex financial concepts clearly and effectively is essential, as the Director will regularly present financial information to the executive team and other stakeholders. The Director of Finance will also be tasked with creating the annual operating plan, providing analytical support during budget preparation, and leading the sales and operations team in generating accurate monthly forecasts. This role requires a proactive approach to identifying financial and operational issues, analyzing market trends, and advising the General Manager and executive team on strategies for improvement. The Director will ensure that all financial reports are accurate and reflective of the hotel's performance, while also maintaining strong accounting and operational controls to safeguard assets and maximize profits.
Responsibilities
- Verifies the accuracy and timeliness of all finance functions, including daily and month-end reporting, payroll processing, accounts payable, accounts receivable, and cash and credit card management.
- Completes comprehensive month-end close, preparing journal entries and accruals, completing cost of sales entries, reconciling balance sheet accounts, ensuring proper tax reporting, and analyzing profit performance.
- Creates the annual operating plan aligned with the company's strategic direction.
- Provides analytical tools and support to department heads during budget preparation.
- Leads the sales and operations team in creating accurate monthly forecasts that allow the team to react to changes in business levels.
- Implements and upholds business practices that support a sales-driven culture.
- Ensures monthly P&Ls reflect accurate revenues, expenses, and cost of sales calculations.
- Analyzes daily and monthly variances between actual, forecasted, and budgeted performance.
- Advises the GM and executive team on existing and upcoming financial and operational issues.
- Analyzes financial data and operational and market trends to identify opportunities for improvement.
- Leads the property in developing and maintaining a strong labor culture that maximizes productivity and performance.
- Facilitates monthly P&L reviews to uncover challenges, opportunities, and trends.
- Manages capital expense budget and reconciles expenditures monthly.
- Ensures strong accounting and operational controls to safeguard assets and maximize profits.
- Oversees internal and city audit processes.
- Manages the accurate collection, posting, and reconciliation of occupancy taxes, sales taxes, and transient marketing district fees.
- Reconciles balance sheet accounts monthly and ensures totals are supported by appropriate documentation.
- Provides continuous direction to and education of the operational team in all areas related to finance, financial reports, internal controls, labor management, payroll, month-end reconciliation, and P&L performance.
- Fosters strong professional relationships with the management group by providing direct counsel and feedback that positively impacts business performance and sharpens the financial acumen of the team.
- Conducts ongoing coaching and annual reviews to influence positive team development.
- Cross-trains team members to support successful department operations.
- Sets high standards for performance and holds the team accountable for results.
Requirements
- Possess a 4-year Bachelor Degree in Finance/Accounting and a minimum of 5 years of experience in a finance leadership position or a 5+ year history of progressive career growth in hotel finance (or in a similar industry).
- Experience with budgeting, forecasting, profit and loss reporting, and balancing ledgers for operating and balance sheet accounts.
- Aptitude for performing numerical analysis of data and formulating conclusions and/or solutions.
- Ability to use logic to define a problem, collect information, establish facts, draw valid conclusions, interpret information, and deal with abstract variables for unique or unfamiliar situations.
- Proven leadership and coaching skills with a track record of developing a highly motivated and cross-trained group of progressive accounting professionals.
- Ability to clearly and concisely present technical subjects.
- Strong oral and written communication skills and the ability to conduct effective group meetings and presentations.
- Ability to comprehend and use technical or professional language, either written or spoken, to communicate complex ideas.
- Superior computer skills: Microsoft Office, POS/PMS systems, and the ability to create, maintain, and analyze data in Excel spreadsheets.
- Ability to work a varied schedule including days, evenings, weekends, holidays, and extended hours based on business needs.
Nice-to-haves
- Experience in the hospitality industry or similar sectors.
- Familiarity with advanced financial modeling and forecasting techniques.
- Knowledge of local tax regulations and compliance requirements.
Benefits
- Medical, Dental, and Vision Coverage
- Short-Term and Long-Term Disability Insurance
- Term Life and AD&D Insurance
- Paid Time Off
- Employee Assistance Program
- 401k Retirement Plan
- Daily Pay option available after initial waiting period
