Director of Finance: Openings and Transitions
Position Available
The Director of Finance is responsible for the oversight and direction of the accounting functions at assigned hotels and corporate projects. Direction of the total accounting function to include management of staff, development and administration of accounting procedures, timely and accurate production of financial statements and records. The Director of Finance ensures certain information remains confidential with regards to the accounting department and the company as a whole.
Team member requirements
- Function as a representative of the Korman culture and standards to all Team Members, partners, and lenders.
- Maintains favorable working relationships among Team Members to promote maximum morale, productivity, and efficiency.
- Displays a high level of integrity and professionalism at all times in all dealings with Team Members and partners.
- Promotes a safe, secure, and healthy work environment.
- Maintains privacy and confidentiality per Korman privacy policies.
Responsibilities
- Assist in the preparation of financial modeling and staffing for new hotel acquisitions
- Participate in due diligence of new hotel acquisitions which may include reviewing contracts, identifying prorations, reviewing historical finance results, etc.
- Assist in financial closing of hotel acquisitions which includes reviewing purchase and sale agreements, loan agreements, and accounting for all costs leading up to settlement
- Prepare and input hotel operating budget into accounting and financial reporting software, including historical hotel data, for new hotel acquisitions
- Onboard new hotels into the AKA platform which includes setting up and planning the implementation of the various systems, treasury websites, vendors, users, etc.
- Train new hotel teams on AKA accounting and finance procedures and processes
- Fill in as Director of Finance in the event of any vacancies at hotel assets
- Directs the production and maintenance of accounting records for payables, receivables, payroll, and other financial areas
- Establishes and enforces proper accounting methods, policies, and procedures
- Effectively analyze existing accounting procedures and ensure all systems and procedures are efficient and produce the desired results
- Establish policies to ensure accounting files, records, and transactions are properly maintained in an organized manner
- Ensure timely filing of all tax returns and payments and completion of bank reconciliations
- Coordinate and assist in completion of audits from both public accounting firms and state agencies
- Closely monitor the financial performance of all departments to ensure that they stay in line with budget; providing solutions to improve problem areas, and assisting in implementing corrective measures
- Implements and adheres to generally accepted accounting principles (GAAP) and uniform system of accounts for the lodging industry (USALI) within the department
- Assign projects and responsibilities to direct reports to ensure the departments goals and strategies are achieved timely
- Assist with accounting department human resource objectives through recruiting, interviewing, training, mentoring and communicating job expectations
- Review and approve monthly reconciliations of balance sheet accounts
- Produces and oversees the production of financial reports and statements for internal and external uses
- Directs and coordinates the annual budget process for both financial and capital projects
- Prepare detailed, rolling financial projections required for property and communicates any potential cash needs well in advance
- Work on multiple projects, with varying priority levels, and meet the agreed upon schedules and objectives
- Assist in oversight of loan compliance with debt covenants and reporting requirements
- Support superiors with investor and lender relations and requests
- Possess the ability to multi-task, prioritize projects, and manage time efficiently and effectively
- Assist all departments within the organization which includes and is not limited to executive, investment, payroll, information technology, sales, revenue management, and operational team members
- Possess high attention to detail and accuracy as well as strong analytical skills
- Have strong understanding of PMS and POS systems and ensure financial integrity and reporting is maintained
- Establish and audit internal financial controls at property, including purchasing, cash handling and disbursements, inventories, hotel equipment, master keys, and associate time records etc.
- Oversee contracts and agreements, and assist hotel management in maintaining licenses, permits, insurance and contracts
Supportive Functions
In addition to performance of the essential functions, this position may be required to perform a combination of supportive functions, with the percentage of time performing each function to be solely determined by the manager based upon the requirements of the property:
Additional duties as necessary and assigned.
- Upwards of 50% of time could be expected to travel
- Technical Functions
- Yardi
- Maestro and Maestro BI
- ProfitSword
- Concur
- Treasury websites (i.e. Capital One Intellix, Shift4, Fortis, Worldpay, AMEX)
- Expert in Excel
Specific Job Knowledge, Skills, and Abilities
- Must be able to speak, read, write and understand the primary language(s) used in the workplace.
- Must be able to read and write to facilitate the communication process.
- Requires good communication skills, both verbal and written.
- Must possess excellent computational and analytical abilities and keen attention to detail.
- Must possess computer skills and detailed knowledge of various computer programs, including but not limited to Microsoft Excel, Word and PowerPoint.
- Must have a desire to participate as part of a team with opportunities to learn, grow, and develop.
To learn more about this exciting position, please email [email protected]. We look forward to hearing from you.