Assistant Director of Finance
Rosewood Hotels and Resorts
Job Description Job summary :
The Assistant Director of Finance is responsible for ensuring that the financial controls, books, records and reporting of the hotel are accurate, current and in compliance. The Assistant Director of Finance oversees daily operations of the Accounting Department, maintains a grasp of the financial positions, supervise operations, associates’ education and personnel management.
Essential duties and responsibilities :
A. General
Maintain complete knowledge of and comply with all departmental policies, service procedures and standards.Perform financial analysis on monthly statements and report these results to the Director of Finance.Verify that the accounting and other related department operations are being performed according to hotel procedures.Assist the Director of Finance in checking and validating capital expenditure to ensure compliance to budgetary guidelines and policy/procedural requirements as set forth by the company.Assist the Director of Finance in preparation of annual budgets. Supervise yearly and periodic physical inspections of fixed assets for each department.Safeguard all licenses, contracts and agreements and assist with renewal.Prepare records of all insurance policies and update all information.Review the associate work hour reports and approved overtime reports for each department submitted by the Paymaster for accuracy and authenticity of the numbers.Cover responsibilities of the Director of Finance in case of absence.
B. Accounting
Review and verify collectability of items in AR Aging. Attend credit meetings, discuss adequacy of bad debt provisions with Director of Finance and adjust accordingly.Ensure receivable ledger balances agree with AR sub-ledger balances in PMS/POS Review and verify amounts outstanding in AP Aging, ensure debit balances are followed up and collected from vendors, long outstanding liabilities investigated.
Ensure vendor ledger balances agree with AP sub-ledger balances
Coordinate and conduct the month-end closing process.
Prepare and verify journals and journal vouchers in accordance with required procedures.
Verify prepaid and accrued expense monthly allocations and other allocated expense calculations are accounted for properly.
Check a draft of monthly account statements, verify there are no errors or unrecorded amounts and report this to Director of Finance.
Verify fixed assets are purchased according to the capital expenditure budget, amounts are properly recorded, and the fixed assets ledger is updated.
Ensure physical inventories are scheduled and taken for food, beverage, operating equipment and other operating supplies per required guidelines.
Prepare Balance Sheet Reconciliation’s on a monthly basis; provide backup for each account.
Review the daily revenue report prepared by the Income Auditor.
Review the Paymaster's salary calculations for any errors or irregularities and labor expenses are properly booked.
Review the Monthly Food & Beverage Cost Controller's Report from the Cost Controller and verify costs are properly booked.
Ensure all year-end front and back office closing procedures are followed per company and system requirements and guidelines.
C. Financial Affairs
Manage annual statutory audit of books and records, owner audits and corporate office audits.Maintain a working knowledge of the accounting regulations of the region where property is located.
Verify the daily bank balances through review of the bank statements for all bank transactions. Prepare a bank balance sheet and submit it to the Director of Finance.
Review the bank reconciliation for each bank. Search for any unusual deposits and withdrawals & outstanding checks and verify no booked deposits and withdrawals exist.
Provide instructions for periodic bank deposit movement.
Verify the validity of the General Cashiers report.
Verify revenue receipts are being deposited into the bank by the General Cashiers daily.
Perform monthly and surprise physical inspections for cash held by the General Cashier.
Review daily cash balance lists from the General Cashiers for cash on hand.
Ensure unused checks and other bank forms are safely stored away.
Ensure measures to protect cash on hand at General Cashier rooms and the Front office cashiers area is sufficient. Periodically test safeguarding equipment to ensure that they are functioning properly.
Verify the daily foreign exchange rates are obtained and published according to set procedures.
Before obtaining approval from the Director of Finance and General Manager, verify payments are made according to set procedures and with the proper documentation. Also, verify checks are prepared without error and signed.
Instruct the Accounts Payable Supervisor to perform the procedures for the repayment of accounts payable before the payment deadline for those accounts in which a special discount is received for early repayment.
Prepare actual and estimated working capital schedules and submit them to the Director of Finance.
Resolve any problems with the banks regarding deposit and withdrawal transactions.
D. Taxation
Ensure all statutory tax reporting required to be filed on a monthly basis is completed in a timely (meeting payment deadlines to avoid any penalty and/or to take advantage of any timely payment discounts) and accurate manner. This includes but not limited to Withholding taxes, Accommodation Taxes, Duty, Payroll and other taxes.Be present for tax inquiries and provide any necessary data and information.
Maintain close communications with tax accountants and attorneys regarding tax problems.
Attend training and seminars for tax and accounting methods.
Coordinate educational trainings for finance associates.
Survey the workload for the accounting department and assist the Director of Finance in setting and changing assignment of work.
Manage the vacation scheduling for the accounting department making the appropriate adjustments as to not effect daily operations.
Ensure that there are proper measures to prevent hotel assets from being stolen by associates.
A determination of how to deal with problem associates and those who are frequently tardy or absent without.
E. Personnel Management
Evaluate associate performance and recommend promotions and pay rises to the Director of Finance.Advising the Director of Finance in hiring and termination of accounting department associates.
The Assistant Director of Finance is responsible for ensuring that the financial controls, books, records and reporting of the hotel are accurate, current and in compliance. The Assistant Director of Finance oversees daily operations of the Accounting Department, maintains a grasp of the financial positions, supervise operations, associates’ education and personnel management.
Essential duties and responsibilities :
A. General
Maintain complete knowledge of and comply with all departmental policies, service procedures and standards.Perform financial analysis on monthly statements and report these results to the Director of Finance.Verify that the accounting and other related department operations are being performed according to hotel procedures.Assist the Director of Finance in checking and validating capital expenditure to ensure compliance to budgetary guidelines and policy/procedural requirements as set forth by the company.Assist the Director of Finance in preparation of annual budgets. Supervise yearly and periodic physical inspections of fixed assets for each department.Safeguard all licenses, contracts and agreements and assist with renewal.Prepare records of all insurance policies and update all information.Review the associate work hour reports and approved overtime reports for each department submitted by the Paymaster for accuracy and authenticity of the numbers.Cover responsibilities of the Director of Finance in case of absence.
B. Accounting
Review and verify collectability of items in AR Aging. Attend credit meetings, discuss adequacy of bad debt provisions with Director of Finance and adjust accordingly.Ensure receivable ledger balances agree with AR sub-ledger balances in PMS/POS Review and verify amounts outstanding in AP Aging, ensure debit balances are followed up and collected from vendors, long outstanding liabilities investigated.
Ensure vendor ledger balances agree with AP sub-ledger balances
Coordinate and conduct the month-end closing process.
Prepare and verify journals and journal vouchers in accordance with required procedures.
Verify prepaid and accrued expense monthly allocations and other allocated expense calculations are accounted for properly.
Check a draft of monthly account statements, verify there are no errors or unrecorded amounts and report this to Director of Finance.
Verify fixed assets are purchased according to the capital expenditure budget, amounts are properly recorded, and the fixed assets ledger is updated.
Ensure physical inventories are scheduled and taken for food, beverage, operating equipment and other operating supplies per required guidelines.
Prepare Balance Sheet Reconciliation’s on a monthly basis; provide backup for each account.
Review the daily revenue report prepared by the Income Auditor.
Review the Paymaster's salary calculations for any errors or irregularities and labor expenses are properly booked.
Review the Monthly Food & Beverage Cost Controller's Report from the Cost Controller and verify costs are properly booked.
Ensure all year-end front and back office closing procedures are followed per company and system requirements and guidelines.
C. Financial Affairs
Manage annual statutory audit of books and records, owner audits and corporate office audits.Maintain a working knowledge of the accounting regulations of the region where property is located.
Verify the daily bank balances through review of the bank statements for all bank transactions. Prepare a bank balance sheet and submit it to the Director of Finance.
Review the bank reconciliation for each bank. Search for any unusual deposits and withdrawals & outstanding checks and verify no booked deposits and withdrawals exist.
Provide instructions for periodic bank deposit movement.
Verify the validity of the General Cashiers report.
Verify revenue receipts are being deposited into the bank by the General Cashiers daily.
Perform monthly and surprise physical inspections for cash held by the General Cashier.
Review daily cash balance lists from the General Cashiers for cash on hand.
Ensure unused checks and other bank forms are safely stored away.
Ensure measures to protect cash on hand at General Cashier rooms and the Front office cashiers area is sufficient. Periodically test safeguarding equipment to ensure that they are functioning properly.
Verify the daily foreign exchange rates are obtained and published according to set procedures.
Before obtaining approval from the Director of Finance and General Manager, verify payments are made according to set procedures and with the proper documentation. Also, verify checks are prepared without error and signed.
Instruct the Accounts Payable Supervisor to perform the procedures for the repayment of accounts payable before the payment deadline for those accounts in which a special discount is received for early repayment.
Prepare actual and estimated working capital schedules and submit them to the Director of Finance.
Resolve any problems with the banks regarding deposit and withdrawal transactions.
D. Taxation
Ensure all statutory tax reporting required to be filed on a monthly basis is completed in a timely (meeting payment deadlines to avoid any penalty and/or to take advantage of any timely payment discounts) and accurate manner. This includes but not limited to Withholding taxes, Accommodation Taxes, Duty, Payroll and other taxes.Be present for tax inquiries and provide any necessary data and information.
Maintain close communications with tax accountants and attorneys regarding tax problems.
Attend training and seminars for tax and accounting methods.
Coordinate educational trainings for finance associates.
Survey the workload for the accounting department and assist the Director of Finance in setting and changing assignment of work.
Manage the vacation scheduling for the accounting department making the appropriate adjustments as to not effect daily operations.
Ensure that there are proper measures to prevent hotel assets from being stolen by associates.
A determination of how to deal with problem associates and those who are frequently tardy or absent without.
E. Personnel Management
Evaluate associate performance and recommend promotions and pay rises to the Director of Finance.Advising the Director of Finance in hiring and termination of accounting department associates.
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