Finance Executive- Hotel

**Job Title**: Finance Executive - Hotel

**Job Summary**:
The Finance Executive for a hotel is responsible for managing the hotel’s financial operations, ensuring accurate financial reporting, and maintaining financial records. This role involves overseeing accounting functions, financial analysis, and ensuring compliance with financial regulations and policies. The Finance Executive plays a key role in supporting the management team by providing insights into financial performance and assisting in budget preparation and forecasting.

**Key Responsibilities**:

- **Financial Reporting and Analysis**:

- Prepare and review daily, monthly, quarterly, and annual financial reports (profit & loss statements, balance sheets, and cash flow statements).
- Analyze financial performance and provide insights to management on cost control, revenue generation, and profit margins.
- Assist in preparing forecasts and budgets, ensuring financial targets are met.
- Conduct variance analysis to highlight differences between actual and forecasted financial performance.
- **Accounting and Record-Keeping**:

- Oversee daily accounting operations, including accounts payable, accounts receivable, payroll, and general ledger entries.
- Ensure that all financial transactions are accurately recorded and posted in a timely manner.
- Reconcile accounts and resolve any discrepancies.
- Maintain accurate and up-to-date financial records for audit purposes.
- **Cash Flow Management**:

- Monitor daily cash flow to ensure there are sufficient funds available for operational needs.
- Manage bank accounts and perform regular bank reconciliations.
- Ensure compliance with cash handling procedures and controls within the hotel.
- **Compliance and Internal Controls**:

- Ensure compliance with local tax laws, accounting standards, and hotel industry financial regulations.
- Implement and maintain effective internal controls to safeguard hotel assets and minimize financial risks.
- Assist in preparing for audits, both internal and external, and work closely with auditors to provide necessary documentation.
- **Budgeting and Cost Control**:

- Assist in developing the hotel’s annual budget, ensuring it aligns with the overall business goals.
- Monitor departmental expenses and identify opportunities for cost reduction.
- Track and report on financial performance against the budget, ensuring that departments adhere to budgetary guidelines.
- **Financial Systems and Reporting Tools**:

- Use accounting software and financial tools to manage financial data, ensure accuracy, and streamline reporting.
- Maintain up-to-date knowledge of financial software and systems to improve efficiency.
- Assist with system implementations or upgrades as necessary.
- **Team Collaboration and Support**:

- Collaborate with other hotel departments (e.g., operations, sales, and HR) to ensure that financial information is accurate and up to date.
- Provide support and financial guidance to department heads and management.
- Assist in the development of pricing strategies, financial planning, and resource allocation.
- **Payroll Administration**:

- Oversee the accurate calculation and processing of payroll.
- Ensure timely and correct payment of salaries, taxes, and benefits.
- Manage employee benefit programs, including the coordination of deductions and other payroll-related tasks.

**Qualifications**:

- **Education**: A Bachelor’s degree in Accounting, Finance, Business Administration, or a related field. A professional accounting qualification (e.g., CPA, ACCA, or CMA) is desirable.
- **Experience**: Proven experience in accounting, finance, or a similar role, preferably within the hospitality industry.
- **Knowledge**:

- Strong understanding of accounting principles and financial reporting standards.
- Familiarity with financial software (e.g., SAP, Oracle, or other hospitality management systems).
- Knowledge of tax regulations, payroll processing, and compliance in the hospitality industry.

**Skills and Competencies**:

- **Analytical skills**: Ability to analyze financial data, identify trends, and provide actionable insights.
- **Attention to detail**: High level of accuracy in managing financial records and transactions.
- **Communication**: Strong verbal and written communication skills to interact with team members, hotel management, and external partners.
- **Problem-solving**: Ability to identify financial discrepancies and find solutions to issues.
- **Time Management**: Ability to prioritize tasks and meet deadlines in a fast-paced environment.
- **Teamwork**: Strong collaborative skills and the ability to work effectively within a team environment.

**Working Conditions**:

- Standard office hours, but the role may require occasional evening or weekend work, especially during month-end or year-end financial reporting.
- Ability to sit or stand for long periods of time and use computers for extended periods.
- Some travel may be required for trainin