Finance Manager
2 weeks ago
If you appreciate the impact global travel can have on the world, you may be just the person we are looking for to work as a Hilton Team Member. Because it's with Hilton where we never forget the reason we're here: to delight our guests, Team Members, and owners alike.
The Finance Manager is responsible for all accounting and financial requirements for the Hotel in an environment of tight control. The role will develop the quality of the finance function to be an integral part of the 4D structure within the hotel, provide financial advice and expertise to the General Manager and Hotel Team, with the aim of maximizing value. Strong experience in dealing with Owner and Tax Officer etc. is relevant for this role.
The Finance Manager should possess the 9 key competencies - influence, communication, developing relationships, analyzing information, decision making, planning, commercial awareness, resilience and people management.
What will I be doing?
As the Finance Manager, you will be responsible for performing the following tasks to the highest standards:
- Carry out best practice financial accounting processes in a robust control environment.
- Responsible for the overall management of the accounting records and financial reports of the hotel ensuring compliance with company, owner, statutory fiscal requirements and timetables.
- Where applicable, the above must include the accounts for Hilton International's branch or subsidiary.
- Ensure that the balance sheet is a fair reflection of the assets and liabilities of the hotel, regularly reviewed, and reconciliations of all accounts performed.
- Ensure compliance with the management agreement with Hilton International, and any Owner / Lease agreement.
- Maintain a focused system of internal controls, which will provide an effective and efficient control over hotel assets, liabilities, revenue and costs, ensuring compliance with company policy.
- Maintain control over hotel assets, liabilities, income and expenditure on behalf of both the Operator and Owner, providing management, leadership and accountability for the financial performance of the hotel.
- Ensure legal and tax compliance, and that adequate insurance cover is maintained.
- Manage the pension scheme where applicable, ensuring that adequate accounting, actuarial and legal controls are in place.
- Ensure valid permits and licenses have been obtained for such matters as importation, currency transfers and hotel operations (bars, clubs, casinos etc.).
- Take responsibility for the safekeeping and updating of all leases and contracts which may affect the financial status of the hotel.
- Liaise and co-operate with both Internal and External Audit ensuring that an effective programme of in-hotel audit is in place and that corrective action is promptly taken where required.
- Give particular emphasis to ensure that all revenue is captured, making use of a monthly control checklist and conducting interim self-audits as required.
- Develop best practice financial accounting and control procedures.
- Financial reporting and control to be an area of continuous review and development with the aim of maximizing both impact and efficiency.
- Management Reporting - Focused, innovative and balanced reporting that stimulates management action. Reporting should be thought provoking and action oriented.
- Develop high quality management information and performance measurement that is timely and accurate.
- Implement reporting that incorporates benchmarking, identification and measurement of key performance indicators, using the balanced scorecard. Reporting should not only look to historical performance within the hotel, but also outward and forward.
- Ensure corporate reporting is timely and accurate, internally consistent and that, inter alia, Datalink report, HLBFS Report, management reports, trends of operation reports, incremental conversion reports, profit and loss statements, balance sheets and cash flow reports reconcile to the trial balance. Maintain proof of such reconciliations which are conducted each month.
- Business Support - Provision of the highest standards of financial and commercial support to the Business.
- Support and advise on financial and commercial matters to the General Manager and to the hotel team, including the interpretation of financial data.
- Review management information for the hotel and make proposals for the General Manager for value added initiatives. Where appropriate, play the "Devil's Advocate" to challenge practices and proposals.
- Provide financial and commercial skills to support business development initiatives, major pricing decisions and other commercial decision-making.
- Information Technology & Systems - Optimize the use of I.T. within the finance department to improve efficiency and information.
- Working with Project Managers to support the implementation of financial systems in the hotel.
- With the ISM ensure proper use and maintenance of financial systems, including adequate security and back up procedures.
- Act as the guardian of the integrity of data flowing into the accounting system, ensuring that control process is sound in systems that interface directly or indirectly with the accounting system.
- Work with colleagues to ensure that errors are corrected at source and processes amended as required to eliminate future errors.
- Continually develop the usage of financial systems in order to ensure highest levels of management reporting, processing and staffing efficiency and thereby return on investment.
- Work on optimizing returns on capital investment.
- Utilize project evaluation techniques to assist in directing investment to those projects which optimize returns both for the individual project and the enterprise as a whole.
- Prepare annual capital plans and direct implementation of this plan; ensuring funding and necessary buying (e.g. Owners) are in place so that the note can be kept at the highest possible standard.
- Prepare and review the AFE, ensuring financial accuracy and sound commercial and business judgment is applied to the process, and that authorization is obtained prior to commitment to hotel expenditure.
- Perform post investment audits on major capital investments, communicating results of post investment reviews within the management team and ensure actions are taken to learn from such results and maximize returns.
- Ensure compliance with HI capital policy, maintain proper control and records of project spends.
- Where applicable, prepare review and be involved in the production of financials for new developments and acquisitions.
- Looking Ahead - Operate with meaningful strategic plans and budgets with accurate forecasting.
- Take a support role to the General Manager in hotel strategic planning with emphasis on Master-Planning and "thinking outside the box" to identify value opportunities.
- Manage the formulation, review and approval process for budgeting within the hotel.
- Ensure a regular cycle of forecasting takes place within the hotel with content and detail appropriate to the needs of the operation.
- Provide alerts to senior management and to the Area Office via regular forecasts, outlook reports or via ad hoc reporting concerning positive or negative trends in the business.
- Work with colleagues and General Manager to ensure consistency and accuracy of communication regarding future trends in the business.
- Investment in People - Ensure that the best person in each job is in an environment of continuous development.
- Recruit and retain the best people for the job, making use of succession planning to develop and replace individuals effectively.
- Establish and maintain good employee relations within the Finance department.
- Aim to maximize efficiency in the Accounting department, aiming for optimum staffing levels - in many cases this is not the case now.
- Recognize that a highly organized Accounts office is often a sign of an efficient department.
- Develop the effectiveness of the hotel's finance function through ongoing training and development of the team, leading and motivating the team to high levels of performance.
- Ensure you manage to specific measurable objectives, giving regular feedback including appraisals.
- Have a personal development plan.
- Provide training to enhance the financial skills of the Management Team as a whole, utilizing tools such as Hilton University.
- Optimize Cash & Working Capital position in an environment of tight control.
- Minimize the level of working capital, with particular emphasis on the management of debtors, stocks and sundry receivables.
- Maximize interest earnings and minimize interest expense.
- Maintain accurate cash flow forecasts for at least one year ahead, and ensure adequate notice is given to Hilton, and to Owners, of any future cash requirements.
- Ensure full reconciliation of all bank accounts on a weekly basis, maintaining the highest standards of control over all cash and bank balances.
- Establish robust credit control and credit management policies with the General Manager and the Commercial Manager within the guidelines set out by Group Policy and following best practice principles.
- Responsible to ensure that controls over accounts receivable are being applied correctly and to take action to rectify any problems identified if they are not.
- Review all accounts receivables with the Commercial Manager on a monthly basis and ensure that there are no recoverability issues.
- Maintain an appropriate reserve for bad or doubtful debts.
- Cost Management - Support the operation to optimize efficiency of the cost base.
- Understand and measure cost drivers for the hotel, utilizing innovative analysis to stimulate thought and management action.
- Ensure that adequate purchasing procedures are in operation so that purchases of goods and services are made in the most cost-effective manner.
- Benchmark costs against other hotels, identifying cost reduction opportunities and managing financial risks of the business.
- Set an example to the hotel by operating an efficient and cost-effective Finance department.
- Direct responsibility to the General Manager of the hotel combined with a responsibility to the Regional Finance Director for the maintenance of professional standards.
- In the rare event that this dual responsibility gives rise to a conflict, the matter must be referred to the Regional Ops VP and the Regional FD for guidance.
- The appointment, dismissal and transfer of the Finance Manager is made by the Regional Finance Director / Area VP Finance in consultation with the hotel General Manager. No changes to the remuneration package of any Finance Manager can be made without the written approval of the Regional Finance Director / Area VP Finance.
- Having unlimited rights of access to all financial figures and facts of the operation, exercise reasonable tact when visiting any departments to ask questions and make any study in fulfillment of your duties.
- The General Manager must consult the Regional Finance Director / Area VP Finance over the completion of any appraisal or Personal Development Review for the Finance Manager. Any bonus scheme for the Finance Manager must be agreed with the Regional Finance Director / Area VP Finance in advance.
- Adhere to the hotel's security and emergency policies and procedures.
- Ensure that all team members have a complete understanding of and adhere to the hotel's Team member rules and regulations.
- The Management reserves the right to change / extend this job description if necessary, at any point of time during her / his employment.
- Carry out any other reasonable duties and responsibilities as assigned.
What are we looking for?
A Finance Manager serving Hilton Brands is always working on behalf of our Guests and working with other Team Members. To successfully fill this role, you should maintain the attitude, behaviours, skills, and values that follow:
- University Commerce Degree in Accounting and Management preferred.
- At least 5 years of working experience as Financial Manager or higher position in the hospitality industry.
- Previous experience in a managerial operational accounting role.
- Fluent in written and spoken English to meet business needs.
- Good relationship with the local bank and government agencies.
- Thorough knowledge of federal, state and local laws.
- Proficient in Microsoft Office applications.
- Ability to lead, to provide guidance and to develop team member.
- Ability to train, motivate, evaluate, mentor and direct associates and managers to meet desired ends.
- A resourceful individual who is creative and able to maintain flexibility.
- Line operations management and labor related experience preferred.
What will it be like to work for Hilton?
Hilton is the leading global hospitality company, spanning the lodging sector from luxurious full-service hotels and resorts to extended-stay suites and mid-priced hotels. For nearly a century, Hilton has offered business and leisure travellers the finest in accommodations, service, amenities and value. Hilton is dedicated to continuing its tradition of providing exceptional guest experiences across its global brands. Our vision to fill the earth with the light and warmth of hospitality unites us as a team to create remarkable hospitality experiences around the world every day. And, our amazing Team Members are at the heart of it all
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