Unclassified - Minneapolis, MN
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 our hotel location. This position requires a high level of expertise in managing the financial operations of the hotel, ensuring accuracy and compliance in all financial reporting and processes. The Director will directly supervise all accounting activities, including income auditing, cashiering, accounts payable processing, accounts receivable collection, tax compliance, payroll, and month-end processing. As a member of the Executive Committee, this role is integral to the strategic financial planning and operational success of the hotel. In this high-profile position, the Director of Finance will be expected to work extended hours, including evenings, weekends, and holidays, as necessary to fulfill job responsibilities. The role demands a strong leadership presence, as the Director will be responsible for directing the work of at least three full-time associates, ensuring that the finance team is highly motivated and cross-trained. The Director will also be tasked with developing and implementing financial strategies that align with the hotel's operational goals, utilizing analytical tools to support department heads during budget preparation and leading the sales and operations team in creating accurate monthly forecasts. The Director of Finance will play a crucial role in maintaining the financial health of the hotel by verifying the accuracy and timeliness of all finance functions, completing comprehensive month-end closes, and analyzing variances between actual and forecasted performance. This position requires a proactive approach to identifying financial and operational issues, advising the General Manager and executive team on potential improvements, and fostering strong professional relationships across the management group to enhance overall business performance.
Responsibilities
- Verifies the accuracy and timeliness of all finance functions: daily and month end reporting, payroll processing, income audit, accounts payable, accounts receivable, and cash and credit card management.
- Completes comprehensive month end close to include 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 that is 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 positively 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 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.
- 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 entire management group by providing direct counsel and feedback that positively impacts the performance of the business 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.
- 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.
Benefits
- 401(k)
- AD&D insurance
- Dental insurance
- Disability insurance
- Employee assistance program
- Health insurance
- Paid time off
