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, Sunnyvale , Complex Director of Finance, Executive , Milpitas, California