Director of Finance-Hotel

Unclassified - Oak Brook, IL

Full-time - Senior

Oak Brook, IL

About the position

As the Director of Finance at Le Meridien Chicago - Oakbrook, you will play a pivotal role in ensuring the financial health of the hotel. This position requires a confident and collaborative finance officer who is dedicated to compliance, strategic thinking, and fostering a supportive environment. You will be responsible for preserving and maintaining hotel assets while overseeing all financial activities. Your expertise will be crucial in implementing, monitoring, and ensuring effective policies and procedural controls throughout the hotel. In this role, you will analyze the financial activities of past, present, and expected operations to identify development opportunities and areas for improvement. You will provide accurate and timely financial statements, ensuring compliance with all financial regulations. Your responsibilities will include recording all revenues and expenses in the proper period, preparing monthly balance sheet reports, and managing the timely payment of all hotel tax obligations. You will also oversee contracts and agreements, assisting hotel management in maintaining necessary licenses, permits, insurance, and contracts. Additionally, you will provide financial leadership and mentoring to key hotel personnel, ensuring that they are equipped to make financially sound decisions. You will be responsible for preparing forecasts and budgets with the involvement of hotel leadership, and you will communicate any potential budget or profit exposures to the General Manager in a timely manner. Managing both accounts receivable and accounts payable functions will also be part of your duties, including processing invoices, preparing statements, and ensuring accurate record-keeping. Your analytical skills will be essential in reducing financial risks associated with spending decisions, making you a key player in the hotel's financial strategy.

Responsibilities

• Ensure the overall financial health of the hotel.
• Analyze financial activities to identify development opportunities and areas for improvement.
• Provide accurate and timely financial statements and ensure compliance with regulations.
• Record all revenues and expenses in the proper period, including accruals for anticipated charges.
• Prepare or review monthly balance sheet reports reflecting assets, liabilities, and equity.
• Timely and accurately record, file, and pay all hotel tax obligations.
• Implement and monitor effective policies and procedural controls throughout the hotel.
• Oversee contracts and agreements, assisting hotel management in maintaining licenses, permits, insurance, and contracts.
• Provide financial leadership and mentoring to key hotel personnel.
• Prepare timely forecasts and budgets with full involvement of hotel leadership.
• Communicate potential budget or profit exposures to the General Manager.
• Manage accounts receivable and accounts payable functions, including processing invoices and collections.
• Reconcile and audit petty cash, general bank account, and cash banks.
• Analyze trends to reduce financial risks associated with spending decisions.

Requirements

• Bachelor's degree in accounting, finance, business management, or a related field.
• Previous experience in a similar role in a full-service hospitality operation.
• Strong computer skills, including Microsoft Office, M3 accounting software, ProfitSword, Property Management Systems, Point of Sale Systems, and Payroll systems.
• Strong verbal and written communication skills, including complaint handling and resolution.