Director of Finance
Unclassified - Redwood City, CA
posted 4 months ago
About the position
The Grand Bay Hotel San Francisco is seeking an experienced leader to fill the position of Director of Finance. This role is crucial in providing ethical and consistent leadership in the financial area of the hotel. The Director of Finance will supply management with guidance, training, and support while focusing on the profitability of the business. This includes maintaining accurate and timely financial reporting, ensuring acceptable levels of internal controls, and compliance with all federal, state, and local regulations. The Director will also safeguard the assets of owners and investors, ensuring that the financial health of the hotel is robust and transparent. In this position, the Director of Finance will evaluate the financial impact of business decisions and ensure that all levels of management are promptly notified of any financial deviations from established policies or control weaknesses. Effective management and communication of cash flow-related issues are essential, including the preparation of cash-flow statements, management of receivables, cash balances, and timely deposits of all funds. The Director will monitor hotel revenues and expenses, ensuring accurate recording in accordance with Crescent Hotels and Resorts' established guidelines, and will investigate variances to budget or prior year, offering practical improvement strategies to management. The role also involves monitoring the capital planning process, assisting management with calculations of return on capital improvements, and ensuring compliance with all regulatory licenses, permits, leases, contracts, and legal agreements. The Director will coordinate the completion of all forecasts and budgets, analyze financial data, and assist management in maintaining the hotel's financial objectives. Establishing and auditing all internal financial controls is a key responsibility, as is the continuous growth environment by actively hiring and developing professional staff. The Director will also ensure compliance with Crescent Hotels and Resorts standards and regulations, oversee IT systems and equipment, and prepare all financial reports in accordance with CHR requirements.
Responsibilities
- 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, including preparation of cash-flow statements and management of receivables.
- Monitor hotel revenues and expenses and ensure accurate recording in accordance with established guidelines.
- Investigate and critique variances to budget or prior year and offer practical improvement strategies to management.
- Monitor the capital planning process and assist management with calculations of return on capital improvements.
- Ensure compliance on all regulatory licenses, permits, leases, contracts, and legal agreements.
- Coordinate the completion of all forecasts and budgets with the management team.
- Analyze financial data and operations to assist management in maintaining financial objectives.
- Ensure timely reconciliation of all balance sheet accounts, including bank reconciliations.
- Establish and audit all internal financial controls including purchasing, cash handling, and payroll.
- Hire, train, supervise, and develop finance staff, including coaching and counseling.
- Maintain compliance with Crescent Hotels and Resorts standards and regulations.
- Ensure proper utilization and maintenance of all IT systems and equipment.
- Direct and prepare all financial reports in accordance with CHR requirements.
- 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 sufficient cash to meet all scheduled obligations.
- Reconcile Balance Sheet with proper backup.
- Count the main vault and ensure all banks are counted.
- Review 'Key Financial Controls' Checklist to ensure adherence and compliance.
- Review actual numbers to forecast to find discrepancies in forecasting.
- Participate in the monthly Credit Meeting.
- Actively participate, complete and review the forecast with Department Heads prior to submission.
Requirements
- A minimum of 5 years of experience in Hotel Accounting in a similar position.
- College Degree in Accounting.
- Excellent computer skills.
- Strong verbal and written communication skills.
- Excellent leadership skills.
Benefits
- Robust compensation and benefits packages
- Career path opportunities
- Training and development programs for finance associates
