With
thousands of hotels in over 100 countries and territories, Hilton offers
countless opportunities to delight. From an open door to a welcoming smile and
an exceptional experience, we offer the millions of travellers who stay with us
every year a welcome they will never forget. In addition to our flagship brand,
Hilton Hotels & Resorts, the family of brands includes Waldorf Astoria,
LXR, Conrad, Canopy, Curio Collection, DoubleTree, Hilton Garden Inn, Hampton
and many others.
If you
appreciate the impact global travel can have on the world, you may be just the
person we are looking for to work as a Hilton Team Member. Because it’s with
Hilton where we never forget the reason we're here: to delight our guests, Team
Members, and owners alike.
The Director
of Finance is an integral part of the 4D structure within the hotel, providing
support and technical expertise to other members of the team. This role is
responsible for all accounting and financial requirements for the hotel in an
environment of tight control. He / she will provide financial support, advice
and expertise to the General Manager and hotel team, with the aim of maximizing
value, developing the quality of the Finance function within the hotel.
What will I
be doing?
As the
Director of Finance, you will be responsible for performing the following tasks
to the highest standards:
Financial
Accounting & Control: Best practice financial accounting processes in a
robust control environment
• Overall
management of the accounting records and financial reports of the hotel
ensuring compliance with company, owner, statutory and fiscal requirements, and
timetables.
• Where
applicable the above must include the accounts for Hilton International’s
branch or subsidiary.
• 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.
• Ensure
compliance with the Management agreement with Hilton International, and any
Owner / Lease agreement.
• 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 both the Operator and 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 for such matters as importation,
currency transfers and hotel operations (bars, clubs, casinos etc.).
• 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 program
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.
Management
Reporting: Focused, innovative and balanced reporting that stimulates
management action.
• Develop
high quality management information and performance measurement that is timely
and accurate. Reporting should be thought provoking and action oriented.
• Implement
reporting that incorporates benchmarking, identification and measurement of key
performance indicators, and use of the balanced scorecard. Reporting should not
only look to historical performance within the hotel, but also outward and forward.
• Ensure
corporate reporting is timely and accurate, internally consistent and that,
inter alia, Datalink report, Pro-plant system, management reports, trends of
operation reports, incremental conversion reports, profit and loss statements,
balance sheets and cash flow reports reconcile to the trial balance. Maintain
proof of such reconciliations which are conducted each month.
Business
Support: Provision of the highest standards of financial and commercial support
to the Business.
• 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. Where appropriate, play the “Devil’s Advocate” to
challenge practices and proposals.
• Provide
financial and commercial skills to support business development initiatives,
major pricing decisions and other commercial decision-making.
Information
Technology & Systems: Optimize the use of I.T. within the finance
department to improve efficiency and information.
• With
Project Managers, support the implementation of financial systems in the hotel.
• With the
ISM ensure proper use and maintenance of financial systems, including adequate
security and back up procedures.
• 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.
• Work with
colleagues to ensure that errors are corrected at source and processes amended
as required to eliminate rather than correct errors.
•
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.
• Prepare
and review the AFE, ensuring financial accuracy and sound commercial and
business judgment is applied to the process, and that authorization is obtained
prior to commitment of the hotel to expenditure.
• 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.
Looking
Ahead: Operating against meaningful strategic plans and budgets with accurate
forecasting.
• 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 and to Area Office 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. Avoid surprises.
Investment
in People: Ensuring the best person in each job, in an environment of
continuous development.
• Recruit
and retain the best people for the job, especially at Assistant Controller
level, making use of succession planning to develop and replace individuals
effectively.
• Establish
and maintain good employee relations within the Finance department.
• Aim to
maximize efficiency in the accounting department and optimum staffing levels.
• Recognize
that a highly organized Accounts office is often a sign of an efficient
department.
• Develop
the effectiveness of the hotel finance function through the ongoing training
and development of the team.
• Lead and
motivate the team to high levels of performance.
• Ensure
that you manage to specific measurable objectives, giving regular feedback
including appraisals.
• Both the
Director of Finance and Assistant Financial Controller should have a personal
development plan.
• Provide
training to enhance the financial skills of the Management Team as a whole,
utilizing tools such as Hilton University and Hilton LEXUE.
Cash &
Working Capital: Optimize cash position in an environment of tight control
• Minimize
the level of working capital, with particular emphasis on the management of
debtors, stocks and sundry receivables.
• Maximize
interest earnings and minimize interest expense.
• Maintain
accurate cash flow forecasts for at least one year ahead, and ensure adequate
notice is given to Hilton, and 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 Director of Finance is to establish robust credit control and credit
management policies with the General Manager and the Commercial Director within
the guidelines set out by Group Policy and following best practice principles –
once established, the Director of Business Development applies such policies
and controls.
• It is the
responsibility of the Director of Finance 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
Director of Finance 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 Director of Finance to maintain an appropriate reserve
for bad or doubtful debts.
Cost
Management: Support the operation to optimize efficiency of the cost base
• 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.
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