Area Director Of Finance

Overview

The Area Director of Finance leads the financial operations for the hotels in your portfolio, focusing on profitability, precise and timely financial reporting, strong internal controls, adherence to all applicable regulations, and protection of owners’ and investors’ assets. This role requires alignment with Highgate Hotels' Standard Operating Procedures. Location: Washington, DC 20005.

Responsibilities

• Direct cash flow management and clearly communicate cash related issues. Prepare timely monthly financial statements for the property, including cash flow statements, receivables and payables management, cash balances, control mechanisms, and prompt deposits of all funds.
• Monitor hotel revenues and expenses and ensure accurate recording in line with Highgate Hotels guidelines. Oversee the hotel’s cash flow and operating forecast.
• Develop annual budgets and perform monthly variance analysis. Investigate variances to budget or prior year and propose practical improvement strategies to management.
• Ensure compliance for regulatory licenses and permits, leases, contracts, legal agreements, and the proper execution of all operational taxes. Assist management in enforcing these compliance items.
• Analyze financial data and operations to support management in achieving the hotels’ financial objectives.
• Adhere to standard accounting policies and internal controls governing finance and accounting operations.
• Review and approve balance sheet accounts promptly, including monthly bank reconciliations and general ledger reconciliations.
• Establish and continually audit internal financial controls covering purchasing, cash handling, disbursements, inventories, hotel assets, master keys, payroll, and employee records.
• Coordinate and complete internal and external audits, collaborating with CPA firms and delivering requested information in a timely manner.
• Hire, train, supervise, and develop staff, including coaching, counseling, and discipline as needed.
• Maintain compliance with Highgate Hotels’ standards and regulations to ensure safe and efficient hotel operation.
• Direct or prepare all financial reports in line with Highgate Hotels’ requirements, adhering to deadlines: Weekly reports including A/R & A/P aging, flash reports, payroll, and revenue updates; Monthly reports such as financial statements, forecasting key statistics, and cash flow; Annual reports including budgets, 5-year plans, and 5-year capital plans.
• Maintain timely communication with Executive Committee members to ensure property operations stay on track and under control.
• Monitor adherence to required report deadlines and respond accordingly.
• Oversee the accurate production of the hotel daily operating report.
• Execute other special projects and responsibilities as assigned.

Qualifications

• Minimum five years of hospitality finance or accounting experience.
• Previous experience as a controller or director of finance, ideally at a premium-branded hotel.
• Experience overseeing multiple hotels simultaneously.
• Excellent verbal and written communication skills.
• Bachelor’s degree required, preferably in finance or accounting.
• Supervisory experience with two or more employees.
• Proficiency in Windows, company-approved spreadsheets and word processing, and operation of all hotel-specific systems.