Senior Vice President Finance

3 days ago

Bhubaneswar, India MAYFAIR Hotels & Resorts Full time

Managing the Finance and Accounting Operations, Materials Management, Legal and Secretarial function and IT Systems of the Hotel Group within the context of the hospitality industry, driving financial and procurement strategies and its implementation, ensuring profitability, and operational excellence in all the related processes.

Formulating strategies for IT and driving digitization and automation. Ensuring high levels of Corporate Governance meeting all statutory, legal and regulatory requirements.

KEY ACCOUNTABILITIES:


Accountabilities:


Strategic Finance

Developing and implementing a comprehensive financial strategy aligned with the organization’s business objectives in the hospitality industry.

Leading the annual budgeting process and providing ongoing financial forecasts and projections to guide strategic decisions.

Plan, evaluate and finalize fund requirements for meeting capital expenditure and working capital needs.

Strategizing to maximize shareholders wealth

Key Performance Measures

Budget Vs Actual achievement.

Return on Capital employed.

Cost of capital

Debt Equity ratio.


Financial Management

Overseeing the preparation and analysis of financial statements, performance metrics, and KPIs to assess the financial health of the organization.

Preparation and review of Management reports every month which will form the basis of strategic decision making including sponsoring cost optimization initiatives.

Managing capital expenditure planning and allocation for property improvements, renovations, and expansions.

Developing and implementing cash flow management strategies to ensure adequate liquidity for day-to-day operations and strategic initiatives.

Ensuring that the effective Income tax rate of the Company is optimized and tax litigation is minimized

Key Performance Measures

Ontime finalization of statutory financial statements with zero non-compliance.

Zero non-conformances in Audit report.

  1. Key financial ratios
  2. Free cash flow
  3. Debtors’ turnover ratio.
  4. Asset turnover ratio.
  5. Credit period (No. of days)

Timely publication of the Management reports and optimizing cost structure of the company

Zero non-compliance of tax matters

Meeting the targeted effective income tax rate


Material Management

Developing procurement strategies and finalizing material management budget.

Reviewing performance of material management function

Develop strategic relations with key vendors to optimize the supply chain management

Key Performance Measures

Materials Budget Vs Actual.

Inventory turnover ratio


Corporate Governance

Overseeing all regulatory requirements of Secretarial functions are met.

Reviewing and ensuring compliance with relevant financial regulations, industry standards, and tax requirements.

Monitoring all licensing requirements are met within timelines.

Key Performance Measures

Zero non-compliance

Information Technology

Finalizing strategies for Information Technology interventions including digitization and automation in line with business strategies.

Reviewing and monitoring IT initiatives for new projects and existing properties including budget, timelines and effectiveness of implementation

Key Performance Measures

Plan Vs Actual implementation

Increase in IT coverage.

People Development

Putting in place a framework, in consultation with HR, for the career growth leadership development and succession planning of the team

Key Performance Measures

Improvement in employee engagement index, minimize attrition, develop a strong second line of leadership which will also help in succession planning.


INTERACTIONS

External – Roles you need to interact with outside the organization to enable success in your day to day work.

Banks and financial institutions.

Industry bodies and Associations in the Travel, Tourism and Hospitality sectors.

Regulatory authorities, Auditors.

Strategic vendors.

Internal - Roles you need to interact with inside the organization to enable success in your day to day work.

Board of Directors.

Managing Director and President.

All other Functional Heads.

Resort Managers.


Educational Qualifications

Chartered Accountant.

Post Graduate diploma in Business Management with Finance specialization from a reputed institute.


Relevant and total years of Experience

20+ years of total experience in Finance in premier hotels and resorts.

5 to 6 years in leading the core function for a reputed Hotel Group.

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