Director of Finance & Business Support

AccorHotel • Boston, MA

9h • $195,000 - $210,000

About The Position

Under the business supervision of the Regional Director of Finance or Vice-President Finance and the General Manager, and within the limits of ACCOR policies and procedures and local requirements, the position is responsible for the supervision of all members of the hotel Finance and Accounting Department. The Director of Finance provides strategic leadership, functional guidance and valuable insights to Operations Leader, Partner, Executive Committee and Department Heads for optimal business decision; Interacting with hotel’s legal counsel, insurance companies, tax consultants, auditors, commercial and government banks to effectively control the assets of the business. The Director of Finance will be a highly motivated team player with strong accounting, communication, business presentation and analytical skills. Strong systems background needed. The role is responsible for leading, completing, and monitoring month end closing process for the Hotel Operation and the Residential component of the property, and for the timely preparation of monthly financial statements and forecast. This position involves creating and embracing a culture of business partnering by working with the General Manager to achieve optimal operating performance and returns for ACCOR and owners. It also requires developing and managing key relationships with Management Committee members and their senior managers to provide financial support and understanding of short and long-term financial plans. The Director of Finance reviews financial performance, analyzes variances, forecasts, and budgets, and challenges existing strategies or recommends alternatives to improve business effectiveness. They contribute to all business decisions regarding revenue generation, hotel expenditure, and investment, and assist other department heads in developing and implementing corrective action plans. The role also involves assisting in the development of the business acumen of the hotel Leadership team and attending Weekly Revenue Meetings to identify opportunities and risks. The Director of Finance promotes, drives, and maximizes GOP Theoretical Flow Through and GOPPAR index concepts, and supports the General Manager in developing strong business relationships with hotel owners. They are responsible for the analysis and interpretation of financial data, preparing monthly internal benchmarking and operational performance analysis reports, and assisting in the development and implementation of benchmarking techniques and best practices. The role includes assisting in preparing the annual budget, capital budgets, and rolling forecasts, and establishing budget preparation procedures and guidelines. They recommend and assist in the design, implementation, and use of methods and procedures to improve the accuracy of working schedules, labor standards, forecasts, and plans. The Director of Finance provides accurate and complete financial and management reports on a timely basis to hotel management, corporate office, and owners, and maintains records for capital expenditures. They manage all facets of the capital process, ensure tracking of fixed assets, and participate in the development, maintenance, and adherence to a single chart of accounts. In addition to preparing financial statements and reports, the Director of Finance & Business Support is responsible for interpreting and communicating these results to the General Manager and relevant department heads. They have a fiduciary responsibility to ensure compliance with company policies, the Uniform Chart of Accounts, and contractual arrangements, and to comply with all local laws and fiscal regulations. The role involves protecting the owners' and management company’s interest in hotel assets and operations, safeguarding legal records, conducting regular operations risk assessments, and ensuring timely incident reporting. They monitor and audit control systems, enforce segregation of duties, and are accountable for developing and maintaining internal controls. The Director of Finance ensures adequate cash flow, approves cash disbursements, rebates, adjustments, and allowances, and reviews accounting, policy, or control issues with relevant parties. They also develop, implement, and monitor credit and collection procedures, and work within the ACCOR’s Human Resource Management System to ensure departmental staff performance, optimize staffing levels, plan for future staffing needs, recruit, prepare orientation programs, maintain departmental standards, ensure training, develop direct reports, conduct appraisals, coach, counsel, and discipline staff, approve leave requests, and communicate regularly with staff.

Requirements

• Accounting Designation, Bachelor's or master’s degree in Business, Finance, or a relevant field of work, or an equivalent combination of education and work-related experience.
• 10+ years progressive work-related experience in multiple areas of accounting and/or capital projects management and reporting, financial and/or business analysis, accounting, merger/acquisition analysis, or a related area.
• 5 to 7 years managing teams and/or significant complex projects.
• Demonstrated ability to assess and understand a variety of internal and external economic and financial issues which impact the business, to analyze data and forecast future business trends, and to develop effective financial plans based on businesses assessments.
• Demonstrated experience in leading & developing people.
• Strong communication skills, both verbal and written to address all levels within the organization and ability to gain consensus and influence others.
• Demonstrated experience with accounting system or similar financial software for the purpose of financial reporting, analysis, and presentation.
• Demonstrated knowledge of finance, budgeting, and accounting processes and regulations.
• Demonstrated knowledge of capital projects management standards and techniques and GAAP regulations and procedures.
• Must be able to effectively communicate both verbally and written, with all level of employees and guests in an attentive, friendly, courteous and service oriented manner.
• Must be effective at listening to, understanding, and clarifying concerns raised by employees, guests and ownership.
• Must be able to multitask and prioritize departmental functions to meet deadlines.
• Approach all encounters with guests and employees in an attentive, friendly, courteous and service-oriented manner.
• Attend all hotel required meetings and trainings.
• Maintain regular attendance in compliance with Raffles Hotel Standards.
• Maintain high standards of personal appearance and grooming, including wearing nametags.
• Comply with Raffles Hotel Standards and regulations to encourage safe and efficient hotel operations.
• Maximize efforts towards productivity, identify problem areas and assist in implementing solutions.
• Must be effective in handling problems, including anticipating, preventing, identifying and solving problems as necessary.
• Must be able to understand and evaluate complex information, data, etc. from various sources to meet appropriate objectives.
• Must be able to maintain confidentiality of information.
• Maintain a warm and friendly demeanor at all times.

Nice To Haves

• CPA or MBA preferred

Responsibilities

• Supervise all members of the hotel Finance and Accounting Department.
• Provide strategic leadership, functional guidance and valuable insights to Operations Leader, Partner, Executive Committee and Department Heads for optimal business decision.
• Interact with hotel’s legal counsel, insurance companies, tax consultants, auditors, commercial and government banks to effectively control the assets of the business.
• Lead, complete, and monitor month end closing process for the Hotel Operation and the Residential component of the property.
• Timely preparation of monthly financial statements and forecast for the property.
• Create and embrace the culture of business partnering by working with General Manager.
• Develop and manage key relationships and respective Management Committee members and their senior managers to provide financial support and understanding of short and long-term financial plans.
• Review financial performance of department/area, analysis of variances, forecasts, and budgets.
• Challenge existing strategies and/or recommend alternate strategies to continually improve effectiveness of the business or financial management.
• Contribute to all business decisions of the hotel regarding revenue generation, hotel expenditure and investment.
• Assist other department heads in the development and implementation of “corrective action plans” on internal and or external audit and operational reports.
• Assist in the development of the business acumen of all levels of the hotel Leadership team.
• Attend and contribute to Weekly Revenue Meeting discussions with a focus on identifying opportunities and risks in Rooms, Conference & Banqueting and other revenues, to drive revenue growth.
• Promote, drive, and maximize GOP Theoretical Flow Through, GOPPAR index, concept across the departments.
• Support the General Manager in developing a strong business relationship with hotel owner by participating and contributing to meetings and discussions and responding proactively to owner requests and initiatives within the boundaries of the HMA.
• Responsible for the analysis and interpretation of the financial data and communicating this in a comprehensible form, of meaningful variations in the operations.
• Assist in the development and implementation of benchmarking techniques that will enable the hotel to enhance revenues while improving productivity and cost efficiencies.
• Seek, identify and implement throughout the hotel best practices that will serve to enhance revenues, guest service and improve cost and productivity efficiencies.
• Assist in preparing, in conjunction with the General Manager and other department heads, the annual budget, capital budgets and the rolling forecast.
• Establish the annual budget preparation procedures and guidelines.
• Recommend and assist in the design, implementation, and use of methods and procedures that improve the accuracy of working schedules, labor standards, forecast, plans to assist operational staff.
• Monitor on an ongoing basis the accuracy and recommend correct measurements as necessary.
• Provide accurate and complete financial and management reports on a timely basis to hotel management, corporate office, and owners in accordance with the company and ownership reporting requirements and policy.
• Report accurately and timely, the actual results as compared to budget/forecast results.
• Maintain adequate records to reflect the comparison of the actual expenditures for furniture, equipment, and operating equipment to the budgeted amounts.
• Manage all facets of the capital process.
• Ensure all hotels establish and maintain the tracking of fixed assets sub-ledgers and depreciation.
• Participate in the development, maintenance, and adherence to a single chart of accounts, payroll and expense dictionary, and the function of accounts.
• Interpret financial statements, accounting and statistical reports, and any other special report, and communicate the results with the General Manager and relevant department heads.
• Ensure the hotels are reporting in compliance with the policies, the Uniform Chart of Accounts and hotel management or other contractual arrangements with respect to accounting matters.
• Comply with all laws and fiscal regulations of the area location, which effect financial matters of the hotel.
• Protect the owners and the management company’s interest in the hotel assets and operations.
• Ensure Management Agreement terms, priorities, performance tests and incentive fees distribution requirements are completely understood and managed.
• Ensure the safe keeping of all lease and contracts and any other legal records and documents, which may affect the financial status of the hotel.
• Conduct regular operations risk assessments, establish a risk register for the hotel and prepare an action plan addressing the mitigation of identified risks.
• Ensure the timing and accurate reporting of all incidents in accordance with Company protocol.
• Monitor and audit control systems on a regular basis, as documented by Audit Services, to measure compliance with internal controls.
• Enforce segregation of duties for non-compatible functions.
• Ensure controls are explained and understood by all employees, as part of their job description that the employee has signed off on.
• Accountable for the development, documentation, and maintenance, within hotels, to ensure compliance with the requirements of internal/standard controls.
• Ensure cash flow is adequate to meet the needs of the operation.
• Approve all cash disbursements and ensure that all disbursements are properly documented and executed.
• Approve all rebates, adjustments, and allowances in accordance with company policy.
• Review issues surrounding Accounting, Policy or Controls with GM, Regional Director of Finance and /or Executive Director, Finance.
• Develop, implement, and monitor credit and collection procedures and guidelines pursuant to “adopted” corporate credit policies.
• Work within the ACCOR’s Human Resource Management System to ensure the departmental performance of staff is productive.
• Operate efficiently and optimize staffing levels.
• Plan for future staffing needs (Succession Planning).
• Recruit in line with company guidelines.
• Prepare detailed orientation programs for new staff.
• Maintain a comprehensive, current, and guest focused set of departmental standards and procedures and oversee their implementation.
• Ensure training needs analysis of your departmental staff is carried out and training programs are designed and implemented to meet needs.
• Deliver training.
• Actively work at developing your direct reports and identify high potentials.
• Conduct probation and formal performance appraisal in line with company guidelines.
• Coach, counsel, and discipline staff, providing constructive feedback to enhance performance.
• Approve leave requests after considering peaks and troughs in the business.
• Regularly communicate with staff to maintain positive relationships.
• Perform other duties as requested by management under the direction of the Director of Finance.

Benefits

• Employee benefit card offering discounted rates in Accor worldwide for you and your family.
• Excellent Company benefits including medical, dental, vision and life insurance.
• Personalized development opportunities across Accor's extensive brand portfolio.
• Ability to make a difference through our Corporate Social Responsibility activities.

What This Job Offers

• Job Type: Full-time
• Career Level: Director