Financial Controller - Pre-Opening & Post Opening

Job Description

Title: Financial Controller - Pre-Opening & Post Opening

Company Name: Quality Hospitality Limited (Q-HOTEL Dhaka)

Vacancy: --

Age: 50 to 55 years

Job Location: Dhaka

Salary: Negotiable

Experience:

• 10 to 15 years
• The applicants should have experience in the following business area(s): Hotel, Restaurant

• Bachelor/Honors

• 10 to 15 years
• The applicants should have experience in the following business area(s): Hotel, Restaurant

• Age 50 to 55 years
• Only Male

• At least 10 to 15 years of financial and management experience, preferably in hospitality industry (5 Star Hotel / Upper Upscale Hotel).
• Should have sound working knowledge in OPERA PMS (Property Management System)
• Should have a high command of MS Applications like Excel, Word, PowerPoint, etc.
• Knowledge of Accounting Software’s (Sun, SAP, Tally etc.)
• Excellent financial and business decision making capability
• Analytical skills and delivering analytics in an organized manner
• Excellent communication and negotiation skills
• Ability to meet deadlines and targets with accuracy
• Availability on call, as per the business demands and as requested by the management
• Hands on approach

INDICATORS OF SUCCESS

• Achievement of Financial Goals (Financial Reporting - Over Budget and Prior Year Performance (Total Revenue, Room Revenue, F&B Revenue, GOP, RevPAR, NOP) Flow Through.
• Manage the A/P and A/R
• Inventory Management
• Tax, VAT and Statutory compliance
• Compliance with Internal & External Audit
• Overall Operational Cost Reduction including Food Cost
• Timeliness & Accuracy of Financial Reporting to the Management
• Achievement at the employee engagement survey and retention goals
• Compliance with Hotel SOP’s and standards
• Employee Training
• Able to collaborate effectively with other hotel employees and managers to ensure teamwork.
• Able to resolve conflicts with supervisors and employees.

JOB SUMMARY

Financial Controller’s primary responsibility would be to oversee and manage all financial operations of the hotel. The position will be responsible for creating and implementing financial policies and procedures that ensure the hotel operates efficiently and profitably.

Duties would include overseeing the budgeting and forecasting process, analyzing financial statements and producing regular reports that provide insight into the hotel’s financial performance and compliance with the local tax laws. Responsible for managing the hotel’s cash flow, monitoring expenses and ensuring that the hotel is in compliance with all financial regulations. Ensure that all work is done accurately, timely, and in accordance with Q Hotel Dhaka accounting practices and in compliance with the Uniform System of Accounts for the Lodging Industry, by directing the overall operations of the finance & accounting department.

In addition to managing the hotel’s financial operations, the Financial Controller would also be responsible for leading and managing a team of finance & accounting professionals. This would involve recruiting, training and developing the team, as well as setting performance targets and evaluating performance against those targets.

To be successful in this role, the position needs to have a strong understanding of financial management principles, as well as excellent analytical and problem-solving skills. The position requires an effective communicator and strong leadership skills that enables to motivate and inspire the team to achieve their goals.

Purpose: To manage all accounting operations, financial reporting, budgeting, forecasting, and internal controls to ensure profitability and regulatory compliance. Key duties include overseeing A/P, A/R, Payroll Budget, Food Cost. Safeguarding assets, preparing financial statements and providing strategic financial guidance to the GM and the Owners/Directors. Prepare Financial Reports and Monthly P&L in a timely manner. Works co-operatively with the Executive Committee to maintain a high-level operational understanding and financial control

Reports To: General Manager / QHL Managing Director & QHL Director of Finance. Dotted Line Reporting to Group Director of Finance.

Key Responsibilities

• Manage full accounting operations including A/P, A/R, payroll, budgeting, forecasting, food & operational costs. Ensure compliance, safeguard assets, prepare monthly P&L, financial statements, and provide strategic guidance to GM and directors

• Responsible for the property’s overall accounting and financial management requirements.

• Responsible for maintaining the pre-opening budget (Expenses) and post-opening Operational Budget (Revenue and Expenses) and daily updates to the Owners / MD and GM.

• Responsible for drafting the Fixed costs and Variable costs report prior to the pre-opening and amending the report time to time or as and when is required

• Responsible for the Daily Revenue Report, Cashflow Report, Monthly P&L Statement, credit reports, Daily Food Cost Report, Daily Wastage and Breakage Report, Budget and Forecast, Asset Management Report, Payroll, Debtors and Creditors Report, Weekly / Monthly Owners Financial Report and presentation or any other report which is requested by the Owners, MD, Finance Director or GM.

• Performs monthly and quarterly balance sheet reconciliation.

• Analyses variances to budget and variances to same period last year in operating statement, making appropriate recommendations.

• Audits weekly costs and expenses and reports to Owners, MD, Finance Director or GM

• Responsible for representing the finance department during daily morning HOD meetings

• Responsible for the collections and payments of the Debtors and Creditors asper the stipulated timeframe

• Responsible for Credit approvals in liaison with the General Manager and Head of sales & marketing.

• Responsible for supporting and liaising with the General Manager in meeting the strategic goals of the organization.

• Responsible for preparing and reviewing annual budgets, monthly forecasts and operating results.

• Responsible for verifying all financial reports and ensuring that all transactions are accurate and in compliance with local government regulations and Uniform System of Accounts for the Lodging Industry.

• Responsible for liaising with the hotel owners, Managing Director and Finance Director of the owning company.

• Responsible for ensuring financial archives and record keepings are maintained in compliance with local government regulations and Uniform System of Accounts for the Lodging Industry.

• Responsible for maintaining liaison with the banking partners as per the directive of the owning company.

• Responsible for the collections, payments and reconciliations of all the Online Booking Channels, OTA’s, Other Booking Engines, F&B Orderings Apps or of any third parties.

• Ensure Foreign Currency remittances as per Central bank Guideline on a timely manner.

• Identifies operational areas that are inefficient and suggests resolutions / recommendations to the owning company and hotel Executive Committee.

• Complies with all applicable laws, rules, and regulations by preparing and filing tax and license information returns.

• Reviews and maintains accurate files on all contractual obligations of the hotel.

• Ensure that disciplinary action is taken as required utilising consistency, fairness, and respect within framework of established guidelines.

• Directs the preparation of any information required by Owning Company and or General Manager.

• Able to prepare and submit management reports promptly and ensure delivery deadlines

• Responsible for the procurement department and its daily activities.

• Responsible for the monthly departmental inventory and stock take and to ensure operational control environment to safeguard hotel assets.

• Able to effectively implement all accounting policies and procedures and SOPs.

• Able to assist proactively with cost control requirements and to measure revenue generation measures.

• Able to conduct the monthly market surveys to ensure the quality and financial gains

• Able to assist with revenue enhancement possibilities

• Able to hold the monthly P&L meetings with the HOD’s in liaison with the GM

• Able to provide the room cost (Cost per occupied and unoccupied rooms), packages, events, themes, outdoor catering etc. prior to the event or as an when is required

• Manage and reconcile bank accounts and balances

• Able to assist with profit improvement opportunities for hotel operations

• Able to develop specific goals and plans to prioritize, organize, and accomplish the work

• Assist in the building of an efficient and professional team of employees within the Finance and Accounting Department

• Monitor all local tax compliance that applies and ensures the taxes are charged correctly and collected

• File the local tax with the authority on a monthly/regular basis and ensure the VAT returns and statutory compliance

• Monitor and improve hotel operation costs, profitability and manage business risks

• Ensure profits and losses are documented accurately

• Ensure property policies are administered fairly and consistently

• Achieve and exceed goals including performance goals, budget goals, team goals, etc.

• Liaise and coordinate with auditors on all financial matters

• Oversee internal, external, and regulatory audit processes

• Manage the daily PR and PO’s and approval process

• Conduct regular weekly finance department meetings

• Participates in the employee performance appraisal process, providing feedback as needed

• Any other tasks assigned as and when required by the Owning Company and management of the hotel

Full time Transport Facility Medical Facilities Duty Meals + Breaks at Employee Dining Hotel Uniform with Laundry Cellphone Set with Monthly Bill Celling. Other Benefits will be as per company policy.