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Cordia Resources by Cherry Bekaert · 2 months ago

Director of Finance - hotel industry (multiple roles open)

Chicago, IL

Full-time

Onsite

Lead/Staff, Director/Executive

$100K/yr - $145K/yr

5+ years exp

Cordia Resources by Cherry Bekaert is a top-5 hotel management company seeking a Director of Finance for two sought-after properties in the greater Chicago area. The role involves leading a team, driving financial excellence, and ensuring compliance with regulations while focusing on profitability and accurate financial reporting.

ConsultingProfessional ServicesRecruitingStaffing Agency

Responsibilities

The Director of Finance is responsible for providing ethical and consistent leadership in the financial area of the hotel by supplying management with guidance, training, support and is also responsible for focusing on the profitability of the business, maintaining accurate and timely financial reporting, ensuring acceptable levels of internal controls, ensuring compliance with all federal, state, and local regulations, and safeguarding owners/investors assets

Evaluate the financial impact on business decisions

Ensure that all levels of management are promptly notified of any financial deviations from established policies and/or control weaknesses in the hotel

Effectively manage and communicate cash flow related issues, as required to management and ownership. This includes the accurate and timely preparation of cash-flow statements, management of receivables, cash balances, control mechanisms and timely deposits of all funds

Monitor hotel revenues and expenses and ensure the accurate recording in accordance with established guidelines. Investigate and critique variances to budget or to prior year and offer practical improvement strategies to management

Monitor the capital planning process by assisting management with calculation of return on capital improvements, gathering support and monitoring the bid process, and evaluating scope of work and specifications

Ensure hotels’ compliance on all regulatory licenses and permits, leases, contracts, legal agreements, and the proper execution of all operational taxes. Provide assistance to management in enforcing compliance on all these items

Coordinate the completion of all forecasts and budgets as required, with the full and active participation of management team

Analyze financial data and operations in order to assist and advise management in maintaining the hotels’ financial objectives

Ensure that all balance sheet accounts, including bank reconciliations are reconciled on a timely basis

Establish and continually audit all internal financial controls including purchasing, cash handling, disbursements, credit extension, inventories, hotel assets, master keys, payroll, and employee records

Continually focus on training and development programs for finance associates to cultivate the 'brightest' and 'best' talent within the industry

Hire, train, supervise and develop staff, including coaching, counseling and discipline

Maintain compliance with standards and regulations to ensure safe and efficient operation of the hotel

Ensure proper utilization, maintenance and periodic upgrades of all IT systems and equipment

Direct and/or prepare all financial reports in accordance with CHR requirements meeting various due dates and deadlines

Review and submit a Daily Revenue Report

Ensure timely deposit of all cash and transmission of Credit Cards

Review Labor Report for overtime and any variance to Forecast

Review departmental Checkbooks and advise of any needed changes

Distribute and discuss weekly G/L report with department managers

Update GM on any unfavorable financial issues impacting the month

Ensure there is sufficient cash to meet all scheduled obligations

Reconcile Balance Sheet with proper back up

Review 'Key Financial Controls' Checklist to ensure adherence and compliance

Review actual numbers to forecast to find discrepancies in forecasting to improve accuracy in future months

Participate in the monthly Credit Meeting

Actively participate, complete and review the forecast with Department Heads prior to submission

Qualification

Hotel accounting experienceADOFDOF trainingPMS/property systemsM3ProfitSwordMS Excel skillsManagement trainingLeadership skillsSense of ownership

Required

5+ years of experience in hotel accounting

ADOF or DOF training required

Strong PMS/property systems required

MS Excel skills

Some management training is required

Sense of ownership, an operational knack for success and an eye for numbers

Sound, sensible management/leadership skills and attitude

Should hold a sense of accountability to owners, asset management and operator

Preferred

DOF experience considered preferred and helpful

Sheraton or Westin brands preferred

BS Degree is preferred but not absolutely required (in lieu of hotel finance experience)

M3, ProfitSword preferred

Benefits

Excellent benefits

401k

PTO

Relocation available

Company

Cordia Resources by Cherry Bekaert

Cordia Resources by Cherry Bekaert is a leading national recruiting, staffing, and executive search firm specializing in placing accounting, finance, human resources (HR), information technology (IT), and contract/subcontract administration professionals.

Founded in 2008

Vienna, Virginia, USA

51-200 employees