Director of Finance And Accounting

JOB TITLE: Director of Finance

DEPT CODE: Corporate

REPORTS TO: Corporate Controller, Executive Vice President & VP - Operations

LOCATION: Chennai, Tamil Nadu, India

Overview: As the Director of Finance at Welcome Group LLC, you will be responsible for overseeing the financial operations of the organization, ensuring accurate financial reporting, implementing and maintaining effective internal controls, providing strategic financial guidance to the management team, Budgeting, Forecasting and preparing efficient P&L reports & Dashboards etc. You will focus on Accounts Payable (AP) and Accounts Receivable (AR), you will play a crucial role in overseeing and optimizing the financial operations related to vendor payments, receivables management, and financial reporting within our hotel group. You will ensure accurate and efficient processing of transactions, maintain strong vendor and customer relationships, and support overall financial strategy and performance.

The description below is a summary of primary responsibilities and qualifications. The job description is not intended to include all duties or qualifications that may be required now or in the future.

Key Responsibilities:

• Financial Management, Reporting and Analysis:
• Monitor financial performance, identify areas of concern or improvement, and recommend corrective actions to ensure the financial stability and growth of the association
• Prepare and review monthly, quarterly, and annual financial reports related to AP, AR, and overall financial performance.
• Provide meaningful financial analysis and insights to senior management to support decision-making and strategic planning.
• Develop and manage the annual budgeting process, P&L, ensuring alignment with strategic objectives and financial targets.
• Provide financial analysis and support to the management team, including financial modeling, profitability analysis, and scenario planning
• Provide guidance and support to properties in monitoring and controlling their budgets, offering insights and recommendations for cost optimization and revenue enhancement
• Manage cash flow, including monitoring and forecasting cash needs, optimizing investment strategies, and overseeing accounts payable and accounts receivable processes
• Prepare regular financial forecasts (30-60-90 report) and projections, monitoring actual performance against budgeted expectations and identifying variances for further analysis
  • Accounts Payable Management:
  • Develop and implement AP policies, procedures, and controls to ensure timely and accurate processing of vendor invoices and payments.
  • Optimize cash flow management by coordinating payment schedules and negotiating favorable terms with vendors.
  • Monitor AP aging and resolve issues related to discrepancies or overdue payments promptly.
    • Accounts Receivable Management:
    • Oversee AR processes to ensure timely and accurate invoicing, collection, and reconciliation of receivables.
    • Implement strategies to minimize delinquencies and manage credit risk effectively.
    • Analyze AR aging and work closely with operations teams to resolve outstanding issues and improve collection efficiency.
      • Team Leadership and Development:
      • Recruit, train, and develop a high-performing team of Finance
      • Foster a culture of excellence, collaboration, and accountability within the department.
      • Provide ongoing coaching and performance feedback to drive individual and team success.

Qualifications:

• CA or CPA or equivalent professional degree in Finance, Accounting, Business Administration, or related field (Master's degree preferred).
• Proven experience (12+ years) in senior finance roles with a significant focus on Budgeting, P&Ls, AP and AR management within the hospitality industry
• In-depth knowledge of accounting principles, financial regulations, and best practices.
• Strong analytical, problem-solving, and critical thinking skills
• Strong understanding of financial operations, including financial reporting, and compliance
• Excellent analytical, problem-solving, and decision-making abilities

** This description is a summary of primary responsibilities and qualifications. The job description is not intended to include all duties or qualifications that may be required now or in the future.