Director Of Finance
Company: Ocean City Fontainebleau Resort
Location: Ocean City
Posted on: June 25, 2022
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Job Description:
Overview
Supervises and directs the financial activities of the hotel,
safeguards the assets, and prepares all financial reports in
accordance with generally accepted accounting principles and HEI
Hotels and Resorts Standards.
Responsibilities
Executive Committee Responsibilities
- Ability to perform special financial analysis as needed and /or
requested by General Manager and Corporate Office.
- Practical solutions from a cost vs. benefits viewpoint. Provide
accurate policy interpretations.
- Actively participate in Executive Committee and staff
meetings.
- Assist other managers in analyzing statements, distributions, and
other financial data.
- Support and comply with property standards and Corporate
SOP's.
Financial and Accounting Practices, Procedures, and Policies
- Skill in correcting deficiencies identified on Internal Audit
report.
- Effective use of the Controller's Checklist.
- Maintain effective cash control system with audits and reports
for each period.
- Review security over assets and auditing inventories.
- Understanding of all pertinent leases, contracts, agreements,
covenants, and restrictions.
- Knowledge of City, County, State sales tax laws and laws dealing
with innkeepers, liquor, and labor.
Budget Preparation
- Schedule and coordinate the preparation and presentation of the
annual operating budget.
- Coordinate all aspects of the capital expenditures budget
according to SOP.
Capital Expenditure Control
- Control the Capital Expenditure program and complete ROI
Analysis.
Financial Objectives
- Complete entries required for preparation of the financial
statements. Review statements for inaccurate data and make
corrections within the following period.
- Inform the General Manager and HEI Corporate management of
current and potential financial problems.
- Keep management informed of sales and profit attainment
throughout the period.
- Coordinate the property's labor management system.
Accounts Receivable
- Maintain appropriate standards for 60-90 day accounts. Conform to
standards regarding the average collection period.
- Documenting the local credit policy and auditing property
compliances.
- Approve all major accounts for credit as defined by local
policy.
- Conduct credit and write-off meetings as requested.
- Submit accurate and timely critiques and credit loss reports as
required.
- Review all major banquet functions and group accounts for proper
credit extensions prior to arrival.
- Maintain standard regarding level of bad debt expenses as related
to credit sales.
- Aggressively fulfill the accounts receivable management
responsibilities to maximize receivable realizations.
Responses to Corporate Staff
- Complete financial required reports and requests from HEI
Corporate offices. Establish other reports or documents, outside of
SOP's as needed.
Balances in Asset and Liability Accounts
- Reconcile account balances on a current basis.
- Establish balances in accruals, pre-paid, and other accounts
using proper accrual methods and expense realization logic.
- Calculate various turn ratios and days available for major asset
categories and compare to standards (linen, gift shop, food,
beverages, guest supplies, and uniforms).
- Work with Department Managers to control inventory balances
according to established realistic pars.
- Comply with company procedures on deferring payments.
Management of Department
- Maintain and update job descriptions and standards for
department.
- Ability to comply with corporate and local policies for wages
paid (increases and timing).
- Establish an effective cross training program within the
department.
- Identify, screen and attract management candidates from outside
the company.
- Comply with attendance rules and be available to work on a
regular basis.
- Perform any other job duties as assigned.
About Us
Let the beach be your office! Overlooking the Atlantic Ocean, Ocean
City Fontainebleau Resort is the finest full-service hotel in Ocean
City, Maryland. Whether you are looking for a seasonal position or
a full-time career opportunity, this is the place to work.At the
Fontainebleau, you can be part of a passionate team that has fun,
works hard, and loves one another. When you join the HEI family,
you also get the benefit of the HEI Loves culture. HEI Loves is
dedicated to celebrating our associates by offering the most
competitive compensation, benefits, and PTO programs. Our
associates are also eligible to take advantage of everything from
health and wellness packages and robust retirement plans to travel
perks, product and service discounts, and much more. Apply today to
learn more!We value U.S. military experience and invite all
qualified military candidates to apply.
Keywords: Ocean City Fontainebleau Resort, Hampton , Director Of Finance, Executive , Ocean City, Virginia
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