Job Overview:
The Hotel Finance Officer is responsible for overseeing the financial operations of the hotel, ensuring accuracy and compliance with financial regulations. This role includes managing financial reports, budgets, and audits, as well as providing strategic financial guidance to support the hotel's overall objectives.
Key Responsibilities:
Financial Reporting & Analysis:
Prepare and analyze monthly, quarterly, and annual financial statements.
Monitor and report on the hotel's financial performance against budgets and forecasts.
Provide insights and recommendations based on financial data to improve profitability.
Budgeting & Forecasting:
Assist in the preparation of the hotel's annual budget and financial forecasts.
Monitor budget adherence and variances, providing explanations and corrective actions where necessary.
Support department heads in budget planning and control.
Accounts Management:
Oversee the accounts payable and receivable processes.
Ensure timely invoicing and collections, as well as accurate processing of payments.
Reconcile bank statements and ensure proper cash management.
Auditing & Compliance:
Prepare for and coordinate internal and external audits.
Ensure compliance with financial regulations, hotel policies, and industry standards.
Implement and monitor internal controls to safeguard hotel assets.
Payroll Management:
Oversee payroll processing, ensuring accuracy and timeliness.
Manage employee benefits and ensure compliance with relevant laws and regulations.
Maintain accurate records of employee compensation and benefits.
Financial Strategy & Planning:
Assist in the development and implementation of financial strategies to support the hotel's long-term goals.
Provide financial insights and analysis for capital projects, expansions, and other investments.
Participate in business planning and decision-making processes.
Team Leadership:
Supervise and mentor the finance team, providing guidance and support.
Conduct performance evaluations and identify development opportunities for team members.
Foster a culture of continuous improvement and teamwork within the finance department.
Other Duties:
Stay updated on industry trends, financial regulations, and best practices.
Collaborate with other departments to ensure financial procedures are aligned with operational needs.
Handle any other financial tasks as assigned by the management.
