JOB TITLE: CLUSTER FINANCIAL CONTROLLER - Permanent
City Centre based
DEPARTMENT: ACCOUNTS & FINANCE
RESPONSIBLE TO: GENERAL MANAGER/ REGIONAL FINANCIAL CONTROLLER
Job Specification – Financial Controller
The Financial Controller is expected to ensure the efficient and effective running of the finance function within the hotel. This should include clear and consistent management of controls and compliance and ensure that the high level of reporting standards are being maintained. They should consistently seek to provide business acumen to parties both within and outside the finance function to ensure that risk is mitigated and opportunity taken. They should seek to partner with the GM and other non-finance related disciplines to deliver on the overall objectives of the business.
They will need to set our clear and concise instruction as to the role of their resources having a communication plan that sets out the objectives, goals and progress being made. This should include the business plans and strategy.
Scrutinising costs and comparing the hotel’s costs against its Peer Group to assess where savings can be made
Work closely with the General Manager and Operational Management to ensure a full understanding of departmental KPIs including Wage %, Food GPs and Beverage GPs
Review margins and provide guidance on how improvements can be made
Challenge areas of the hotel to improve profitability across all areas, set achievable, realistic, stretching targets
Maximise profitability of the business through commercial awareness, strict controls and input into the key strategic decision-making process.
Weekly Actual v Forecasted Payroll – where there was slippage ensure it is being communicated appropriately to the team
EBITDAR forecasts – are these realistic, have they been accurate up to this point.
Champion the 10.30am and daily interactions with HODs
Focus on showing where risk and opportunities are within the business and plans to take advantage or mitigate against.
Encourage Conversion analysis - Specify areas of concern and recommend and assist with action to be taken.
General Manager – challenge and support and become a key advisor
Heads of Department - Design training plans & courses for non-financial managers in the hotels, in conjunction with the RFC to help them gain a better understanding of financial issues. Ensure they are approachable and build relationships with the other HODs and staff within the hotel.
They will need to recruit, train, develop and coach the appropriate resources for the finance function in the hotel and motivate to get the best out of them.
Controls and Compliance
Controls and procedures - Ensuring all financial controls and procedures across the hotel are robust, sustainable, maintained and updated
Internal Audit Reports. Where weaknesses are discovered, examine these with the GM and RFC and formulate agreed corrective actions
Champion the use of technology and more effective and efficient ways of doing business
Month end lead schedule prepared and agreed with RFC
Ensure lead schedules are being adhered to
Ensure all journals are processed and appropriately reviewed
All control accounts including accruals and prepayments
Revenue and payroll testing to ensure accuracy of accounts
Review debtors less than 5% (to include PM accounts)
Balance Sheet to include Reconciliations and to include sign off of “agreed” standard month end file both physical and electronic.
Cashflow preparation and management
Monthly Management Accounts – ensure they a fair reflection of trade both current and future
Income Audit management to ensure accuracy, consistency and completeness.
Engage with Shared Service Centre - Examining outstanding transactions or other areas of concern across the portfolio
Debtors – regularly reviewing the Debtors Ledgers and PM Accounts within the portfolio to ensure tight controls on credit are being maintained and collection of debts are being collected on a timely basis
Oversee the implementation of new controls as and when required. Identify gaps and contribute to Project Evolve.
Challenge processes to eliminate non-value adding tasks
Forecasting - Understand key trends, variances assessing current and future business risk ensuring that alternative strategies are put in place.
Reporting – ensure that deadlines are being adhered to and that if there are bottlenecks or consistent issues in a property that they are dealt with appropriately.
External Audit - Co-ordinate the Year End and Interim Audit processes of the portfolio including the review and sign-off of information being submitted to External Auditors
Co-operating with local Tax firm on matters impacting the hotels
From a financial perspective leading bi-monthly owner meetings
Management of fixed asset register and associated postings
Budgeting – detailed reviews before submission. Ensure that the numbers make sense and reflect the strategy of the property.
- Experience of working in the hotel industry an advantage