Essential Job Duties and Responsibilities
Financial Reporting & Analysis:- Oversee the preparation and accuracy of financial statements, including balance sheets, income statements, and cash flow statements.
- Review and analyze financial data to provide insights into the hotel's performance, profitability, and cost management.
- Prepare monthly, quarterly, and annual financial reports, ensuring compliance with accounting standards and company policies.
- Analyze financial variances and provide recommendations to senior management for corrective actions.
Accounting Operations & Management:- Supervise daily accounting activities, including accounts payable, accounts receivable, payroll, and general ledger entries.
- Ensure timely and accurate recording of all financial transactions in the hotel's accounting system.
- Review and approve journal entries, reconciliations, and other accounting documents to ensure accuracy and completeness.
- Maintain accounting records in accordance with company policies, procedures, and regulatory requirements.
Budgeting & Forecasting:- Lead the preparation of annual budgets and periodic forecasts for all hotel departments.
- Monitor budget performance and advise department heads on financial matters to ensure adherence to budgetary guidelines.
- Provide regular updates to senior management on financial performance, including variances between budget and actual performance.
- Assist in long-term financial planning and resource allocation to support the hotel's strategic goals.
Compliance & Internal Controls:- Ensure compliance with all local, state, and federal tax regulations, accounting standards, and hotel industry-specific requirements.
- Develop and maintain internal control processes to safeguard the hotel's financial assets and ensure the integrity of financial reporting.
- Coordinate and assist with internal and external audits, ensuring timely preparation and submission of required documentation.
Team Leadership & Development:- Supervise and mentor the accounting team, providing guidance, training, and performance feedback.
- Promote a culture of continuous improvement, ensuring that accounting staff is trained on best practices and new accounting regulations.
- Delegate tasks effectively and provide support to the team in meeting deadlines and goals.
Cash Management & Financial Systems:- Manage the hotel's cash flow, ensuring adequate liquidity to meet operational needs.
- Oversee the monitoring of cash balances, bank reconciliations, and management of cash receipts and disbursements.
- Ensure the effective use of accounting software and systems, working with IT to implement system upgrades or enhancements as needed.
Cost Control & Financial Strategy:- Assist in developing strategies to optimize cost control across hotel operations, identifying areas for potential savings.
- Provide financial analysis for capital expenditures and major investment decisions.
- Support senior management in evaluating financial trends, developing cost-saving initiatives, and improving overall financial efficiency.
Education and/or Experience - Bachelor's degree in Accounting, Finance, Business Administration, or a related field required.
- CPA or CMA certification is preferred.
- 5+ years of experience in accounting or financial management, with at least 2 years in a managerial role, preferably within the hospitality industry.
- Strong knowledge of accounting principles, financial reporting, budgeting, and internal controls.
- Experience with accounting software, enterprise resource planning (ERP) systems, and Microsoft Excel.
Skills/Specialized Knowledge- Strong leadership and team management skills, with the ability to motivate and develop staff.
- Excellent analytical and problem-solving abilities, with a keen attention to detail.
- In-depth knowledge of accounting principles, financial analysis, and budgeting processes.
- Ability to communicate complex financial information clearly and effectively to non-financial stakeholders.
- Strong organizational and time-management skills, with the ability to manage multiple priorities and meet deadlines.
- Knowledge of hospitality industry financial regulations and compliance requirements is a plus.
- Proficiency in Microsoft Office Suite (Excel, Word, PowerPoint) and accounting software.
Physical Demands- Ability to sit for extended periods of time while working at a desk or computer.
- Ability to lift up to 20 pounds (e.g., filing documents or office supplies).
- Occasional travel for training, audits, or other business-related activities.
