Finance Manager

The Finance Manager will develop the quality of the Finance function within the hotel and provide support and technical expertise to the other members of the team

This role will be responsible for all accounting and financial requirements for the hotel in an environment of tight control, providing financial support, advice and expertise to the General Manager and hotel team, with the aim of maximizing value

What will I be doing?

As the Finance Manager, you will be responsible for performing the following tasks to the highest standards:

Financial Accounting & Control: Best practice financial accounting processes in a robust control environment

Overall management of the accounting records and financial reports of the hotel, ensuring compliance with company, owner, statutory and fiscal requirements and timetables

Where applicable, the above must include the accounts for Hilton Internationals branch or subsidiary

Ensure that the balance sheet is a fair reflection of the assets and liabilities of the hotel

The balance sheet must be regularly reviewed, and reconciliations performed of all accounts

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 the hotel assets, liabilities, revenue and costs, ensuring compliance with company policy

Maintain control over the hotels assets, liabilities, income and expenditure on behalf of both the Operator and Owner and provide 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 to ensure that an effective programme of in-hotel audit is in place and that corrective action is promptly taken where required

Give particular emphasis on ensuring that all revenue is captured, making use of a monthly control checklist and conduct interim self-audits as required

Develop best practice on financial accounting and control procedures, make sure financial reporting and control is 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

Develop high quality management information and performance measurement that is timely, accurately

Implement reporting that incorporates benchmarking, identification and measurement of key performance indicators, and use of the balanced scorecard

Reporting should not only look to historical performance within the hotel, but also outward and forward

Ensure all corporate reporting is timely, accurate, internally consistent and that, inter alia, Datalink report, Pro-plant system, 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, challenge practices and proposals to improve further

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

With Project Managers, 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 the 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 rather than correct 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

Investment 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 plan 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 of the hotel to expenditure

Perform post investment audit 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 and maintain proper control and recording of project spends

Where applicable, prepare review and be involved in the production of financials for new developments and acquisitions

Looking Ahead: Operating against meaningful strategic plans and budgets with accurate forecasting

Take a support role to the General Manager in hotel strategic planning with particular 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 Area Office via regular forecasts, outlook reports or via special 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: Ensuring the best person in each job, in an environment of continuous development

Recruit and retain the best people for the job and make 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 and optimum staffing levels

Develop the effectiveness of the hotel finance function through the ongoing training and development of the team

Lead and motivate the team to high levels of performance

Ensure you to use specific measurable objectives for regular feedback including appraisals

As the Finance Manager, you should have a personal career development plan

Provide training to enhance the financial skills of the Management Team as a whole, utilizing tools such as Hilton University and Hilton LEXUE

Cash & Working Capital: Optimize cash position in an environment of tight control

Minimize interest expense and the level of working capital, with particular emphasis on the management of debtors, stocks and sundry receivables while maximizing 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

The highest standards of control must be maintained over all cash and bank balances at all times

The role of the Finance Manager is to establish robust credit control and credit management policies with the General Manager and the Commercial Director within the guidelines set out by Group Policy and following best practice principles once established, the Director of Business Development applies such policies and controls

Responsible for ensuring controls over accounts receivable are being applied correctly and to take action to rectify any problems identified if they are not

The Finance Manager must review all accounts receivables with the Commercial Director 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, identify cost reduction opportunities and manage financial risks of the business

Set an example to the hotel by operating an efficient and cost-effective Finance department

Additional Notes

The Finance Manager has a 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 Finance Director 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 may be made without the written approval of the Regional Finance Director / Area VP Finance

The Finance Manager has unlimited rights of access to all financial figures and facts of the operation

The Finance Manager exercising reasonable tact may visit any department to ask questions and make any study in fulfilment of his / her 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

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 degree, preferablyinCommerce,Accounting & Managementor any otherAccounting qualification

Finance / Accounting major and certified, e g

ACCA/ CPA

At least 5 yearsof relevant working experience and previous experience in a managerial operational accounting role

Fluent in English, both spoken and written, to meet business needs

Possess system skills in OnQ, Check SCM, SUN, OPERA / OnQ PMS, MICROS, HRLINK

Good communication and analyticalskills

Flexible in relation to working hours, especially at month and year-end