Complex Director of Finance
Company: Sonesta International Hotels Corporation
Location: Milpitas
Posted on: April 17, 2024
Job Description:
Complex Director of Finance page is loaded Complex Director of
Finance Apply locations Sonesta San Jose- Milpitas, CA time type
Full time posted on Posted Yesterday job requisition id R-0056504
Job Description Summary As the properties' strategic financial
business leader, the Complex Director of Finance is responsible for
creating and executing business plans that are aligned with each
property's and brand's business strategy. Functions include
planning, organizing, directing and controlling the financial
operations of two or more assigned hotels while ensuring the
security of hotel assets, maximizing the return on investment,
providing timely and accurate reporting and analysis of results and
integrity of the management information systems in a decentralized
accounting environment. The Complex Director of Finance reports
directly to the General Manager of the assigned home hotel, as well
as to the General Manager(s) of the other assigned hotels. As a
member of the hotels' Executive Committees, the Complex Director of
Finance is a highly visible role with exposure to Senior Corporate
leaders and Asset Managers of owning entities. Job Description
Principal duties and responsibilities (Essential Functions)
include:
- Ensure compliance with Company policies, plus local and
standard operating procedures. -
- Recruit and manage qualified hotel Accounting staff,
communicate goals, recommend and/or initiate salary, disciplinary,
or other staffing-related actions per company rules and policies,
and applicable federal, state and local laws.
- Identify and promote high-potential staff members through a
customized Personal Development Program, cross-training, and task
force opportunities.
- Lead in the completion, review, and presentation of monthly
forecasts, annual operating and capital budgets, and business plans
prepared by hotel management teams to provide stakeholders with
reasonable and achievable guidelines of performance aligned with
the Company's and brand's strategic direction. -
- Prepare accurate, timely, and complete monthly financial
statements with detailed workpapers and schedules per the Company's
policies and procedures, applicable hotel management agreements,
Generally Accepted Accounting Principles (GAAP), and the Uniform
System of Accounts for the Lodging Industry (USALI).
- Develop and implement local accounting and financial control
procedures and systems to ensure Sarbanes-Oxley (Sox) 404 key
controls compliance, safeguard assets, improve operations, and
profitability. -
- Develop a strong business relationship with owners by
understanding the priorities and strategic focus, attending and
participating in meetings, addressing owner requests and
initiatives, and demonstrating a comprehensive understanding of the
terms and provisions of hotel management agreements.
- Responsible for risk management to preserve hotel property and
reduce potential liability claims.
- Ensure the hotel complies with all federal, state, and local
laws and fiscal regulations, including license and permit
requirements. Operational/Functional:
- Manage and control receivables, payables, credit, payroll, cash
handling, and treasury functions with the staff of the assigned
hotels' Accounting departments. -
- Develop, implement, and monitor hotel-specific A/R
Responsibility Matrix and credit and collection practices in
compliance with Company-level policies and procedures.
- Complete all formal performance appraisals and provide staff
with coaching, timely constructive feedback, and utilize both
counseling and progressive discipline when needed to recognize and
enhance staff performance.
- Provide analytical support to identify cost-saving and
productivity opportunities for the properties' managers. -
- Distribute outlook and forecast information as an up-to-date
management tool for operating departments, review and analyze
variance versus actual results to measure and improve
accuracy.
- Provide leadership by clearly communicating financial concepts
when rolling out initiatives and projects, measures and reports on
actual versus anticipated results. -
- Monitor economic, social, and governmental trends and policies
to keep stakeholders fully apprised of any impact on meeting the
hotel's financial objectives.
- Collaborate with department managers to provide stakeholders
with meaningful explanations for variances to budget.
- Use financial and operational performance analysis, including
benchmarking, to maximize each assigned hotel's revenue, GOP
flow-through, and bottom-line financial return. -
- Assist operations to improve the accuracy of work schedules and
set labor standards to maximize productivity. Monitor and
accurately measure actual labor usage versus labor standards to
ensure timely reporting and decision-making.
- Ensure adequate communication and compliance of hotel personnel
with the Company Code of Ethics.
- Comply with record retention as required for internal and
external audits, coordinate audit visits, and respond to auditor
requests. Ensure compliance with government regulations, federal,
state, and local laws and contractual agreements, including
CBA's.
- Monitor purchasing /ordering/delivery compliance and analyze
reports from Company mandated buying programs.
- Ensure adequate insurance coverage and COI's provided by
third-party contractors.
- Ensure timely and accurate reporting to insurance carriers of
all incidents with potential liability or property claims. -
- Ensure timely and accurate sales, use and occupancy tax return,
and compliance form filing preparation as required.
- Serve as a member of assigned hotels' Executive
Committees.
- Demonstrated ability to effectively interact with people of
varying abilities and diverse cultural, ethnic, and socioeconomic
backgrounds.
- Promote teamwork and quality service to all stakeholders
including guests, vendors, Accounting staff, regulatory agencies,
and owners.
- Perform additional administrative duties as needed or requested
such as negotiating, monitoring, and tracking expiration and
renewal dates of hotel contracts, space and tenant leases, etc.
-
- May assist with other duties as required.Qualifications and
Skills: -To perform this job successfully, an individual must be
able to perform each essential duty satisfactorily. -The
requirements listed below are representative of the knowledge,
skill, and/or ability required. Reasonable accommodations may be
made to enable individuals with disabilities to perform the
essential functions.Education and/or Experience:Minimum: Bachelor's
degree in Accounting, Finance or equivalent and 10+ years in hotel
accounting for a large, complex hotel operation, or an equivalent
combination of education and work-related experience. CPA or MBA is
preferred. For newly-opening hotels previous hotel pre-opening
experience preferred. Must speak English fluently. Other languages
preferred. The ideal candidate has experience in managing multiple
hotels or business units.Language Skills:Clear and concise
communication skills, in English. Ability to read, analyze,
interpret, and formulate general business policies and procedures
are used often in reviewing financial analyses, budgets, and other
related reports. Writing abilities are used in compiling financial
reports, as well as to document business financial activities and
to write business correspondence, policies, and procedures. Ability
to effectively present information and respond to questions from
groups of managers, clients, customers, and the public.
-Mathematical and Technical skills:Problem-solving, reasoning,
motivating, organizational and training abilities are used often.
Ability to interpret a variety of instructions furnished in
written, oral, diagram, or schedule form, and to perform multiple
tasks simultaneously. Basic math, financial planning and budgeting,
cost management, profit/loss concepts, percentages, and variances
are utilized frequently. Must be able to devise, prepare, and
maintain spreadsheets using various software systems, and must have
knowledge of computerized financial reporting systems and programs,
including proficiency in Microsoft Outlook, Word, and Excel. Sound
understanding of the hotel operational and back-office systems and
applications as well as Microsoft Office products. Knowledge of
finance, budgeting and accounting processes, capital project
management, standards and techniques, Uniform System of Accounts
for the Lodging Industry (USALI), and Generally Accepted Accounting
Principles. -Physical Demands: -The ability and willingness to
travel are required to provide oversight to non-home hotel. The
physical demands described here are representative of those that
must be met by an employee to successfully perform the essential
functions of this job. Reasonable accommodations may be made to
enable individuals with disabilities to perform the essential
functions. While performing the duties of this Job, the employee is
regularly required to stand and use hands to finger, handle, or
feel. The employee is frequently required to talk or hear. The
employee is occasionally required to walk, reach with hands and
arms and stoop, kneel, crouch, or crawl. The employee must
occasionally lift and/or move up to 50 pounds. - Additional Job
Information/Anticipated Pay Range Pay Range: $140,000-150,000/yr.
Base pay offered may vary depending on various factors including
but not limited to job related knowledge, skills and job
specific/overall experience. Benefits Sonesta recognizes that
benefits play a vital role in helping ensure the health and
financial security of employees and their families. We offer a
variety of benefits to our employees including:
- Medical, Dental and Vision Insurance
- Health Savings Account with Company Match
- 401(k) Retirement Plan with Company Match
- Paid Vacation and Sick Days
- Sonesta Hotel Discounts
- Educational Assistance
- Paid Parental Leave
- Company Paid Life Insurance
- Company Paid Short Term and Long Term Disability Insurance
- Various Employee Perks and Discounts Upon submitting your
application, please ensure you complete a full application in
addition to attaching a resume. Incomplete applications received
will not be considered. - About UsAt Sonesta , we value our team
members as individuals who enhance our guests' experiences with
their unique skills and contributions. We actively support
professional growth and personal happiness in each of our employees
at each of our hotels, resorts, suites and cruise ships. We seek
out people who will eagerly partner with us to improve the overall
Sonesta experience for our guests, and the overall Sonesta
experience for their fellow colleagues. If you are interested in a
career in some of the most impressive and beautiful surroundings in
the world with generous benefits and perks, we hope you'll get in
touch with us. We are an equal opportunity employer. All qualified
applicants will receive consideration for employment without regard
to race, national origin, religion, age, color, sex, sexual
orientation, gender identity, disability, or protected veteran
status, or any other characteristic protected by local, state, or
federal laws, rules, or regulations.
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Keywords: Sonesta International Hotels Corporation, Mountain View , Complex Director of Finance, Executive , Milpitas, California
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