Hilton Worldwide

Global hotel operator of branded properties

Director of Finance

Corporate Finance & FP&APosted on Nov 4

Full-timeMueang Chiang Rai, Mueang Chiang Rai District, Chiang Rai, ThailandNo salary listedIn-person

About the Job

Requirements

Must have a degree in accounting.
Must have business acumen.
Must demonstrate adaptability.
Must have 3 years of related experience.
Must have 3 years of management or supervisory experience at Executive Committee level.

Responsibilities

Manage the hotel's accounting records and financial reports, ensuring compliance with company, owner, statutory, fiscal, management-agreement, and lease requirements and timetables.
Ensure the balance sheet fairly reflects hotel assets and liabilities, and regularly review the balance sheet and reconcile all accounts.
Maintain effective internal controls over hotel assets, liabilities, revenue, and costs, and ensure compliance with company policy.
Ensure legal and tax compliance, maintain adequate insurance coverage, and manage the pension scheme where applicable with appropriate accounting, actuarial, and legal controls.
Ensure required permits and licenses are obtained, and safeguard and update leases and contracts affecting the hotel's financial status.
Liaise with internal and external auditors, maintain an effective in-hotel audit program, promptly address corrective actions, ensure all revenue is captured, and use a monthly control checklist.
Develop and continuously improve financial accounting and control procedures to maximize impact and efficiency.
Develop timely and accurate management information and performance measurement that stimulates management action.
Implement reporting that uses benchmarking, key performance indicators, and the balanced scorecard, and addresses historical performance as well as future opportunities.
Advise the General Manager and hotel team on financial and commercial matters, including interpretation of financial data.
Review hotel management information and propose value-added initiatives to the General Manager.
Provide financial and commercial support for business development, major pricing decisions, and other commercial decisions.
Optimize information and efficiency through use of IT in the finance department.
Support implementation of hotel financial systems with Project Managers, including the Future Office project.
Ensure proper use and maintenance of financial systems, including security and backup procedures, in coordination with the ISM.
Use project-evaluation techniques to direct investment toward projects that optimize returns for both individual projects and the enterprise.
Prepare and review the AFE, ensure financial accuracy and sound commercial judgment, and obtain authorization before committing hotel expenditure.
Conduct post-investment audits on major capital investments.
Ensure compliance with HI capital policy and maintain proper control and recording of project spending.
Where applicable, prepare, review, and participate in producing financials for new developments and acquisitions.
Support the General Manager in hotel strategic planning, emphasizing master planning and identifying value opportunities.
Manage the hotel's budgeting formulation, review, and approval process.
Ensure regular forecasting cycles with content and detail appropriate to operational needs.
Recruit and retain finance staff, particularly at Assistant Controller level, use succession planning, and maintain good employee relations in the Finance Department.
Maximize accounting-department efficiency and establish appropriate staffing levels and an organized Accounts Office.
Develop the effectiveness of the hotel finance function through ongoing team training and development, and lead and motivate the team to high performance.
Manage to specific measurable objectives and provide regular feedback, including appraisals.
Maintain personal development plans for the Controller and Assistant Controller.
Train the Management Team to enhance its financial skills.
Minimize working capital, particularly debtors, stocks, and sundry receivables; maximize interest earnings and minimize interest expense.
Maintain cashflow forecasts at least one year ahead and give Hilton and owners adequate notice of future cash requirements.
Reconcile all bank accounts monthly and maintain strong controls over cash and bank balances.
Understand and measure hotel cost drivers, using analysis to prompt management action.
Ensure purchasing procedures result in cost-effective purchases of goods and services.
Benchmark costs against other hotels, identify cost-reduction opportunities, and manage business financial risks.
Set an example by operating an efficient and cost-effective finance department.

Financial Accounting & Control

Best practice financial accounting processes in a robust control environment

• Overall management of the accounting records and financial reports of the hotel ensuring compliance with company, owner, statutory and fiscal requirements and timetables.

• Where applicable the above must include the accounts for Hilton International’s branch or subsidiary.

• Ensure that the balance sheet is a fair reflection of the assets and liabilities of the hotel. The balance sheet must be regularly reviewed and reconciliations performed of all accounts.

• Ensure compliance with the management agreement with Hilton International, and any Owner / Lease agreement.

• Maintain a focused system of internal controls, which will provide an effective and efficient control over the hotel assets, liabilities, revenue and costs. Ensure compliance with company policy.

• Ensure legal and tax compliance and that adequate insurance cover is 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 (bars, clubs, casinos etc.). Take responsibility for the safekeeping and updating of all leases and contracts, which may affect the financial status of the hotel.

• Liaise and co-operate with both Internal and External Audit. Ensure that an effective programme 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.

• Develop 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.

Management Reporting

Focused, innovative and balanced reporting that stimulates management action

• Develop high quality management information and performance measurement that is timely, accurate. Reporting should be thought provoking and action oriented.

• Implement reporting that incorporates benchmarking, identification and measurement of key performance indicators, and use of the balanced scorecard. Reporting should not only look to historical performance within the hotel, but also outwards and forwards.

Business Support

Provision of the highest standards of financial and commercial support to the Business

• Support and advice on financial and commercial matters to the General Manager and to the hotel team, including the interpretation of financial data.

• Review management information for the hotel and make proposals for the General Manager for value added initiatives.

• Provide financial and commercial skills to support business development initiatives, major pricing decisions and other commercial decision making.

• Optimize the use of I.T. within the finance department to improve efficiency and information.

• With Project Managers, support the implementation of financial systems in the hotel. 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.

Optimizing returns on capital investment

• Utilize 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.

• Prepare and review the AFE, ensuring financial accuracy and sound commercial and business judgement 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 HI 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.

Operating against meaningful strategic plans and budgets with accurate forecasting

• Take a support role to the General Manager in hotel strategic planning. Particular emphasis on Master-Planning and “thinking outside the box” to identify value opportunities.

• Manage the formulation, review and approval process for budgeting within the hotel.

• Ensure a regular cycle of forecasting takes place within the hotel with content and detail appropriate to the needs of the operation.

Ensuring the best person in each job, in an environment of continuous development

• Recruit and retain the best people for the job, especially at Assistant Controller level. Make use of 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. We should aim for optimum staffing levels - in many cases this is not the case now. Recognize that a highly organized Accounts Office is often a sign of an efficient department.

• Develop the effectiveness of the hotel finance function through the ongoing training and development of the team. Lead and motivate the team to high levels of performance.

• Ensure you manage to specific measurable objectives. Give regular feedback including appraisals.

• Both the Controller and Assistant should have a personal development plan.

• Provide training to enhance the financial skills of the Management Team as a whole.

Optimise cash position in an environment of tight control

• Minimise the level of working capital, with particular emphasis on the management of debtors, stocks and sundry receivables. Maximise interest earnings and minimise interest expense.

• Maintain accurate cashflow forecasts for at least one year ahead, and ensure adequate notice is given To Hilton, and to Owners, of any future cash requirements.

• Ensure full reconciliation of all bank accounts on a monthly basis. The highest standards of control must be maintained over all cash and bank balances at all times.

Support the operation to optimise efficiency of the cost base

• Understand and measure cost drivers for the hotel. Utilise 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 the hotel by operating an efficient and cost effective finance department.

	Required Qualifications	Preferred Qualifications
Please list specific qualifications/experience, knowledge, skills and abilities needed for this position:	Must have a degree in accounting Business acumen Adaptabilities
Education	BA/BS/Bachelor's Degree	BA/BS/Bachelor's Degree
License/ Certificates	N/A	N/A
Years of related experience	3	3
Yearsof management or supervisory experience	3	3
Management or supervisory experience type	Executive Committee	Executive Committee
Add'l requirements (i.e. % of travel, etc.)	N/A	N/A

About the Company

Hilton Worldwide

Global hotel operator of branded properties

Hilton Worldwide Holdings operates a global portfolio of hotels and resorts across multiple brands to serve business travelers, vacationers, and long-stay guests. It owns, leases, manages, and franchises properties, earning revenue from rooms, food and beverage, events, and franchise and management fees. Its brands range from luxury Waldorf Astoria to full-service Hilton Hotels & Resorts and extended-stay options like Homewood Suites, targeting different customer needs. Its goal is to grow as a major global hospitality company by expanding its loyalty program and delivering consistent guest experiences to maximize occupancy and revenue.

Company size: 10,001+
Company stage: IPO
Headquarters: McLean, VA
Founded: 1919

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