Grow with us...
Life at SH is based on a simple idea: the world is beautiful and we want to keep it that way. Our team at the 1 Hotel Mayfair is in search of a Director of Finance with remarkable tenacity, a sharp leader with an entrepreneurial spirit, who’s good-natured, a natural at relationship building, and puts their clients needs at the top of their priority list, while meeting (or surpassing) all revenue and profit goals for the department.
The Director of Finance is a strategic financial business leader for the property that champions, develops and implements hotel-wide and market-wide strategies that deliver products and services to meet or exceed the needs and expectations of guests, team members and owners. This position provides financial expertise to enable the successful implementation of the brand service strategy and initiatives while maximizing the return on investment. Creates and executes a strategic business plan that is aligned with the hotel’s business strategy with a primary focus on the execution of financial and accounting activities and the delivery of financial results.
Requirements for Success...
Business & Functional Results
- Achieve Annual Goals: Lead the achievement of the property’s annual financial goals and revenue targets, ensuring profitability and growth. Collaborate with cross-functional teams, including Revenue Management and Sales & Marketing, to drive overall business performance.
- Financial Management: Oversee working capital, cash flow, capital expenditures, and daily accounting activities to maximize value. Identify and manage financial and business risks, ensuring robust control systems are in place.
Financial Leadership
- Strategic Partnership: Act as a strategic partner to the General Manager and Guidance Team. Use financial expertise and business acumen to influence strategic decisions, identify growth opportunities, optimize resource allocation, and drive business results. Provide counsel on emerging financial issues and support sound decision-making to maintain a competitive advantage.
- Revenue Maximization: Support the development of revenue-generating strategies across all hotel areas. Collaborate with Revenue Management to create effective strategies, set aggressive goals, and participate in sales strategy meetings. Use financial expertise to evaluate revenue mix and provide pricing and inventory recommendations to increase market share and achieve growth targets.
- Team Development: Enhance the business skills of the team by educating department heads on profit maximization, cost control, and revenue generation. Provide ongoing analytical support and tools to ensure revenue goals are met and opportunities are identified and addressed.
- Proactive Financial Analysis: Utilize financial analysis and market data to anticipate needs, identify issues, and recommend actions to maximize returns. Encourage innovation and drive change through calculated risk-taking to create value.
Execution of Finance Management
- Operational Controls: Develop and implement SOPs, ensuring robust controls to manage business and financial risks. Maintain a strong accounting and operational control environment to safeguard assets, improve operations, and enhance profitability. Ensure compliance with both standard and local procedures, as well as local regulations.
- Leverage Technology: Use technology and information systems effectively to enhance operational efficiency and support decision-making. Oversee the implementation and maintenance of property-based systems.
- Audit & Compliance: Manage internal, external, and regulatory audit processes, ensuring SOP compliance and timely resolution of identified issues. Reconcile balance sheets, ensuring accuracy and proper documentation.
- Financial Reporting: Ensure accurate and timely delivery of P&L statements to relevant stakeholders. Manage working capital, cash flow, and capital expenditure funds to improve product quality and revenue potential.
- Budgeting & Forecasting: Create the property’s annual operating budget and provide analytical support during budget reviews to identify cost-saving opportunities. Analyze financial data and market trends to produce accurate forecasts, enhancing operational responsiveness.
- Tax Compliance: Ensure correct tax rates for sales/use tax, proper collection/accrual of amounts, and compliance with tax-exempt transactions. Oversee the payment of local taxes and manage funded escrow accounts, if applicable.
- Capital Projects: Analyze the ROI of capital projects before committing funds and assess post-completion results to determine if anticipated outcomes were achieved.
Building Relationships & Owner Relations
- Owner Partnership: Collaborate with the General Manager to develop a trusting business relationship with property owners by understanding the management contract, deal structure, and ROI expectations. Provide owners and the regional team with valuable insights, contextualizing financial results and demonstrating a strong grasp of cash flow and owner priorities. Anticipate and address owner needs proactively, utilizing resources as needed to resolve issues.
- Communication & Presentation: Manage effective communication with owners, including regular updates and presentations on actual and forecasted financial results. Develop and present business cases to owners, persuading them of the value of business opportunities, service improvements, and profitability initiatives.
- HMA Compliance: Ensure compliance with the hotel management agreement and reporting requirements. Educate the Guidance Team and property leadership on the contract and deal structure, ensuring all are aligned and compliant.
- Relationship Building: Foster strong working relationships with the property leadership team, regional and corporate groups, external customers, partners, and auditors. Effectively leverage resources across functions to achieve business objectives.