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DIRECTOR OF FINANCE HOTEL

24 Apr 2017
Bangkok Reference : v1495
- v1495@kticonsultants.com







DETAILS

Summary:

The Director of Finance will be responsible for all accounting and financial requirements for our client’s International’s branch properties in Thailand. He will provide financial support, advice and expertise to the General Management, with the aim of maximizing value, developing the quality of the finance function within the branch.

Job description:

  • Overall management of the accounting records and financial reports ensuring compliance with company, owner, statutory and fiscal requirements and timetables.
  • Ensuring compliance with the management agreement with our client, and any Owner I Lease agreement.
  • Maintaining a focused system of internal controls, which will provide an effective and efficient control over the assets, liabilities, revenue and costs. Ensuring compliance with company policy.
  • Ensuring legal and tax compliance and that adequate insurance cover are maintained. Manage the pension scheme, where applicable, ensuring that adequate accounting, actuarial and legal controls are in place.
  • Ensure proper permits and licenses have been obtained for such matters as importation, currency transfers and hotel operations. Responsible for the Safekeeping and updating of all leases and contracts, which may affect the financial status of the properties.
  • Co-operate with both Internal and External Audit. Ensuring that an effective programmed 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. Make use of a monthly control checklist.
  • Developing best practice financial accounting and control procedures. Financial reporting and control to be an area of continuous review and development with the aim of maximizing both impact and efficiency.
  • Implement reporting that incorporates benchmarking, identification and measurement of key performance indicators, and use of the balanced scorecard.
  • Support and advice on financial and commercial matters to the General Management and the team, including the interpretation of financial data.
  • Review management information and make proposals for the General Management for value added initiatives.
  • With Project Managers, support the implementation of financial systems. Full support for The Future Office project is a critical element of the Controller position.
  • With the ISM ensure proper use and maintenance of financial systems, including adequate security and back up procedures.
  • Utilizing 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.
  • Preparing and reviewing 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.
  • Ensure compliance with our client’s capital policy. Maintain proper control and recording of project spends.
  • Where applicable, prepare review and be involved in the production of financials for new developments and acquisitions.
  • Supporting the General Management in strategic planning.
  • Master-Planning and "thinking outside the box" to identify value opportunities.
  • Ensure a regular cycle of forecasting takes place within the hotel with content and detail appropriate to the needs of the operation.
  • Recruit and retain the best people for the job. Using 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. Aiming for optimum staffing levels. Recognize that a highly organized Accounts Office is often a sign of an efficient department.
  • Develop the effectiveness of the finance function through the ongoing training and development of the team. Lead and motivate the team to high levels of performance.
  • Provide training to enhance the financial skills of the Management Team as a whole.
  • 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 our client and to Owners, of any future cash requirements.
  • Understand and measure cost drivers. 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. Identify cost reduction opportunities. Manage financial risks of the business.
  • Set an example to our client by operating an efficient and cost effective finance department.

 Requirements:

  • Bachelor degree in Accounting or Finance, a Master will definitely be an advantage.
  • Experience from international 5 stars hotel chain with at least 2 years at a country or regional level, managing multiple properties.
  • Strong leadership, managerial and analytical skills.
  • Good communicator and public speaker type.
  • Be an advisor to the Senior Management.
  • Thai national with excellent command in English.