Financial Controller - Franchise
Jobs at:Hilton Worldwide
Deadline of this Job:
20 October 2022
Date Posted: Friday, October 07, 2022 , Base Salary: Not Disclosed
As the Financial Controller, you will be responsible for performing the following tasks to the highest standards:
Financial Accounting &Control:
• Overall management of the accounting records and financial reports of the hotel ensuring compliance with company, owner, statutory and fiscal requirements and timetables.
• 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.
• 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 hotel’s assets, liabilities, income and expenditure on behalf of 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 managing the pension scheme, where applicable, ensuring that adequate accounting, actuarial and legal controls are in place.
• Ensure valid permits and licenses have been obtained.
• 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, ensuring that an effective programme of in-hotel audit is in place and that corrective action is promptly taken where required.
• Give particular emphasis to ensuring that all revenue is captured, making use of a monthly control checklist and conduct interim self-audits as required.
• Develop best practice financial accounting and control procedures, with continuous review and development with the aim of maximizing both impact and efficiency.
• Develop high quality management information and performance measurement that is timely and accurate.
• Implement reporting that incorporates benchmarking, identification and measurement of key performance indicators, and use of the balanced scorecard.
• Ensure reporting is timely and accurate, internally consistent and that reports are conducted each month.
• Support and advice 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.
Information Technology & Systems:
• Implementation of financial systems in the hotel.
• 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.
• 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.
• Perform post investment audit on major capital investments, communicating results of post investment reviews within the Management team and ensures actions are taken to learn from such results and maximize returns.
• Ensure compliance with HI capital policy, maintaining proper control and recording of project spends.
• Where applicable, prepare review and be involved in the production of financials for new developments and acquisitions.
• 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.
• Provides alerts to Senior Management via regular forecasts, outlook reports or via ad-hoc reporting concerning positive or negative trends in the business.
• Work with colleagues and the General Manager to ensure consistency and accuracy of communication regarding future trends in the business.
Cash & Working Capital:
• Maintain accurate cash flow forecasts for at least one year ahead, and ensure adequate notice is given to Owners, of any future cash requirements.
• Ensure full reconciliation of all bank accounts on a weekly basis, maintaining
• the highest standards of control over all cash and bank balances at all times.
• The role of the Financial Controller is to establish robust credit control and credit management policies with the General Manager and the Commercial Director within the guidelines set out by company policy.
• It is the responsibility of the Financial Controller to ensure that controls over accounts receivable are being applied correctly and to take action to rectify any problems identified if they are not.
• The Financial Controller must review all accounts receivables with the Commercial Director on a monthly basis and ensure that there are no recoverability issues.
• It is the responsibility of the Financial Controller to maintain an appropriate reserve for bad or doubtful debts.
• 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, identifying cost reduction opportunities and managing financial risks of the business.
• Set an example to the hotel by operating an efficient and cost-effective Finance department.
What are we looking for?
To successfully fill this role, you should maintain the attitude, behaviours, skills, and values that follow:
• University qualification and above.
• Finance / Accounting major and certified
• 5 year in hotel accounting with at least 2 years in similar position with an international hotel.
• Fluent in oral and written English to meet business needs.
• Possess system skills in SUN, OPERA / OnQ PMS, MICROS Simphony
• Proficient in Microsoft Windows, Word, Excel and PowerPoint.
Work Hours: 8
Experience in Months: 60
Level of Education: Bachelor Degree
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