Regional Director of Finance & Business Support
What is in it for you:
Under the business supervision of the Executive Director, Hotel Finance & Business Support (ED) and the Regional Vice President of Operations (RVP) and within the limits of ACCORHOTELS policies and procedures, HMA, ownership agreements, bank agreements and local requirements, the position is responsible for the financial oversight of a region/area by partnering and supporting a Regional Vice President of Operations and for direct supervision of the Hotel Directors of Finance & Business Support within a region. Hotel Directors of Finance & Business Support (DOF) have solid reporting line to this position within a region.
The Regional Director of Finance & Business Support (RDOF) provides strategic leadership, functional guidance and valuable insights to Operations Leaders, Partners, Executive Committees and Department Heads for optimal business decisions for hotels within the region; Interacts with ownership group, asset managers, hotel legal counsel, insurance companies, tax consultants, auditors, commercial and government banks to effectively control the assets of the business. The role is an interdependent part of the core regional team. The Regional Director of Finance & Business Support will be a highly motivated team player with strong accounting, communication, business presentation and analytical skills as well as a strong multi-unit business and finance leader.
What you will be doing:
Business Partnering and Performance Management
Creation and embracing the culture of business partnering by working with the RVP , the Hotel Directors of Finance & Business Support in the region, the Hotel General Managers in the region, and the ED Hotel Finance & Business Support; jointly responsible for achieving optimal operating performance and returns for ACCORHOTELS and our owners without losing sight of all measured KPIs.
Develop and manage key relationships with respective Hotel Directors of Finance & Business Support, Hotel General Managers and their senior managers to provide financial support and understanding of short and long-term financial plans. Review financial performance of hotel department/area, analysis of variances, forecasts and budgets of home hotel and hotels in the region. Challenge existing strategies and/or recommend alternate strategies to continually improve effectiveness of the business or financial management.
Contribute to business decisions of the home hotel and hotels in the region; ensure the full conversion of revenue generation opportunities and the capturing of all revenues (i.e. RevPRO engagement)
Oversight in the Hotel Directors of Finance and Business Support in the region with the development and implementation of corrective action plans on internal and or external audit and operational reports.
Oversight in the development of the business acumen of all levels of the Hotel Leadership teams to ensure they understand the impact of every component on the business as a whole and embrace the fiscal reporting processes and other information available in order to drive the performance of their areas of responsibility.
Promote, drive and maximize the GOP Theoretical Flow Through concept across hotels in the region. Support the RVP and the Hotel General Managers in the region in developing a strong business relationship with the hotel ownership groups by participating and contributing in meetings and discussions and responding proactively to owner requests and initiatives within the boundaries of the HMA, P, ownership structure and bank documents.
Integrate new openings, transitions and take over. (i.e. Manage and monitor pre-opening budget)
Provide leadership in rolling out company initiatives and projects as required
Financial Planning, Reporting and Analysis Responsible for the analysis and interpretation of financial data with-in the region and communicating this in a comprehensible form of meaningful variations in the operations. The analysis of the balance sheet accounts, on a selected basis and the review and analysis of the monthly internal benchmarking and operational performance analysis reports.
To lead in the development and implementation of benchmarking techniques that will enable the Hotels in the region to enhance revenues while improving productivity and cost efficiencies. To seek, identify and implement throughout the Hotels in the Region, best practices that will serve to enhance revenues, guest service and improve cost and productivity efficiencies.
To oversee and lead in preparing, in conjunction with the RVP, the Hotel DOF and the Hotel General Managers, the annual budget, capital budgets and the rolling forecasts. The RDOF will establish the annual budget preparation timelines, procedures and guidelines for hotels with-in his / her region and will assist the RVP in presenting annual budgets to the Corporate team and ownerships To recommend and engage with Operations in the design, implementation, and use of methods and procedures that improve the accuracy of working schedules in the region, labor standards, forecasts,
plans to assist operational staff in the Hotels. Monitor on an ongoing basis the accuracy and recommend correct measurements as necessary.
To regularly review and analyze reports from buying programs for hotels with-in the region and improve costs by driving buying compliance and delivery efficiencies.
To review and analyze monthly the forecast accuracy report for hotels with-in the region and drive accuracy in forecasting. Provide accurate and complete financial and management reports on a timely basis to Regional management with-in the region and the corporate office, in accordance with the company and ownership reporting requirements and policy. In addition, the Regional Director of Finance & Business Support is responsible for reporting accurately and timely, the actual results as compared to budget/forecast results in his / her Hotels. He/she is to maintain adequate records to reflect the comparison of the actual expenditures for furniture, equipment and operating equipment to the budgeted amounts. Oversee all facets of the Hotel property capital process. Ensure all Hotels in the region establish and maintain the tracking of fixed assets sub-ledgers and depreciation.
To participate in the development, maintenance and adherence to a single chart of accounts, payroll and expense dictionary, and the function of accounts in order that the property financial and statistical data is accurately and consistently recorded and reported. In addition to overseeing the preparation of all financial statements, accounting and statistical reports, and any other special reports that may be required by corporate office or the RVP, the Regional Director of Finance & Business Support is responsible for interpreting said reports and then communicating the results of the region with the RVP Hotel Operations.
Compliance & Risk Management Has a fiduciary responsibility to the Company and/or Owners for ensuring the properties are reporting in compliance with the Uniform Chart of Accounts, ACCORHOTELS Policies & Procedures, ownership and bank documents and hotel management or other contractual agreements with respect to accounting matters.
All laws and fiscal regulations of the hotel area locations, which effect financial matters of the property, will be complied with. This includes seeing that proper permits and licenses are obtained for such things as liquor licenses, sellers permit, business licenses, etc.
To protect the owners and the management companys interest in the hotel assets and operations. Regional Director of Finance & Business Support should be the guardian of the Property Management Agreements. Management Agreement terms, priorities, performance tests and fees, and distribution requirements are completely understood and managed for all hotels in the region.
Monitor and manage the safe keeping of all hotel leases and contracts and any other legal records and documents, which may affect the financial status of the hotel. Such documents are to be listed and keep current on the Critical Date List by each individual hotel.
Working with the RVP and the ED Hotel Finance & Business Support, the Regional Director of Finance & Business Support shall conduct regular operations risk assessments, establish a risk register for the hotels and assist with preparing an action plan addressing the mitigation of identified risks, subject to regular reporting and follow up on the execution of the risk action plan. They shall ensure the timing and accurate reporting of all incidents in accordance with Company protocol.
Control and Policies & Procedures A thorough knowledge of policies and procedures required. A thorough knowledge of understanding and proper application of policies and procedures. Be the champion in the region to drive best practice and support hotels to achieve required policies and procedures. Control systems are monitored and audited on a regular basis, as documented by Audit Services, to measure compliance with internal controls. Segregation of duties for non-compatible functions is enforced. Controls are explained and understood by all employees, as part of their job description that the employee has signed off on.
He or she is accountable for the development, documentation, and maintenance of control systems, within the Hotels, to ensure compliance. Review and approval for MIP and SIP payment for hotels within the region.
Ensure cash flow is at or above minimum required as per HMA or is adequate to meet the needs of the hotel operations with-in the region.
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