Task Force Director of Finance - Remote

Compensation Type

Highgate Hotels

Highgate is a premier real estate investment and hospitality management company widely recognized as an innovator in the industry. Highgate is the dominant player in U.S. gateway markets including New York, Boston, Miami, San Francisco and Honolulu, with a rapidly expanding presence in Europe, Latin America, and the Caribbean. Highgate’s portfolio of global properties represents an aggregate asset value exceeding $20B and generates over $5B in cumulative revenues. The company provides expert guidance through all stages of the hospitality property cycle, from planning and development through recapitalization or disposition.  Highgate also has the creativity and bandwidth to develop bespoke hotel brands and utilizes industry-leading proprietary revenue management tools that identify and predict evolving market dynamics to drive out performance and maximize asset value. With an executive team consisting of some of the industry’s most experienced hotel management leaders, the company is a trusted partner for top ownership groups and major hotel brands. Highgate maintains corporate offices in London, New York, Dallas, and Seattle.

Location

Overview

The Director of Finance – Task Force is responsible for providing consistent leadership in the financial area of the hotel by supplying the accounting staff with guidance, leadership and training until a permanent Director of Finance is hired and trained. 

This position is remote and requires significant travel across Highgate’s footprint. The Director of Finance - Task Force acts as a Hotel’s Director of Finance and is the senior Accounting/Finance person for hotels which are experiencing a vacancy in the Director of Finance’s position. The position is responsible for all aspects of fiscal management, financial controls, accounting, and financial reporting for the assigned property. The position is also responsible for training the new Directors of Finance.

Responsibilities

• Approach all encounters with guest and teammates in an attentive, friendly, courteous, and service-oriented manner.
• Always comply with Highgate Hotels’ standards and regulations to encourage safe and efficient hotel operations.
• Maximize efforts towards productivity, identify problem areas and assist in finding and implementing their solutions.
• Direct or prepare all financial reports in accordance with Highgate Hotels’ requirements, meeting various due dates and deadlines, i.e.:
  • Daily: Income Journal and daily routing packs
  • Weekly: A/R & A/P Aging, Revenue/Flash Reports, Payroll Reports, Revenue Updates
  • Monthly: Financial Statements, Forecasts, Cash Flow, Variance Analysis
• Annual: Budgets, 5-Year Plans, 5-Year Capital Plans
• Effectively manages and communicates cash flow related issues. This includes the accurate and timely preparation of monthly financial statements for the property: cash flow statements, management of receivables, payables, cash balances, control mechanisms and timely deposits of all funds.
• Monitor hotel revenues and expenses and ensure the accurate recording in accordance with Highgate Hotels established guidelines.
• Prepare and present Proration Schedules during a hotel transition (if required).
• Communicate with owners, asset managers, lenders, investors, and other stakeholders as well as the Highgate Operations team regarding financial performance of their assets and performance of hotel finance staff. Actively address their concerns and build a long-term relationship of trust.
• Ensure hotels’ compliance on all regulatory licenses and permits, leases, contracts, legal agreements, and the proper execution of all operational taxes. Assist management in enforcing compliance on all these items.
• Understand and maintain all capital expenses at the assigned hotel.
• Analyzes financial data and operations to assist and advises management in maintaining the hotels’ financial objectives.
• Prepares financial analysis as requested. This may include minor “Returns on Investment” and labor strategies.
• Complies with Standard Accounting policies and procedures and internal controls for finance and accounting operations.
• Timely reviews and approval of all balance sheet accounts, including monthly bank reconciliation and general ledger account reconciliations.
• Continually audits all internal financial controls including purchasing, cash handling, disbursements, inventories, hotel assets, master keys, payroll, and employee records.
• Successful completion of all internal and external financial audits, including coordination of work with CPA firms and delivering information requested by auditors on a timely basis.
• Manage staff including hiring and supervision as well as continually focus on training and development programs for accounting associates to cultivate the “brightest” and “best” talent within the industry.
• Maintain compliance with Highgate Hotels’ standards and regulations to ensure safe and efficient operation of the hotel.
• Timely interacts with Executive Committee members to assure that property operations are always on track and under control.
• Monitor hotels’ compliance in meeting required report deadlines and due dates and react accordingly.
• Conduct and/or attend and contribute to periodic meetings to maintain favorable working relationship among team members and promote maximum morale, productivity, and efficiency (Executive Committee, Sales & Service, Credit, etc.).
• Monitor the accurate production of the hotel daily operating report.
• Executes other special projects and responsibilities as assigned

Qualifications

• A 4-year college degree with an Accounting/Finance concentration and a minimum of 4 years of related progressive experience; or a 2-year college degree and a minimum of 8 years of related progressive experience.
• Experience as Director of Finance at a larger, hotel with a decentralized accounting structure is required.
• This position is remote and requires up to 90% travel.
• There will be days where working long hours are required.
• Experience in supervising three or more employees required.
• Must be able to convey information and ideas clearly.
• Must have experience in Oracle and IBM TM1 software.
• Must be able to evaluate and select among alternative courses of action quickly and accurately.
• Must be effective in handling problems in the workplace, including anticipating, preventing, identifying, and solving problems, as necessary.
• Must have the ability to assimilate complex information, data, etc., from disparate sources and consider, adjust, or modify to meet the constraints of the need.
• Must be effective at listening to, understanding, and clarifying the concerns and issues raised by teammates and guests.
• Must be able to work with and understand financial information and data, and basic arithmetic functions.