Assistant Director of Finance

The Hotel

Step inside a legendary revival at The Watergate Hotel, a luxurious urban resort located along the banks of the Potomac River. Here modern design blends with a storied past to redefine luxury. A place where travel and business are occasions worth celebrating, attention to every detail is the standard, and intrigue can be found just beyond every curve.

Location

The Watergate Hotel is centrally located in Washington, D.C., a city of political power, prestige, and elegance is culturally rich with theaters, museums, architectural splendors and unforgettable national memorials. The Watergate Hotel is situated within walking distance of the best the city has to offer.

Strategic Intent

It is the mission and intent of this position that the incumbent will assist the Managing Director in managing & analyzing all Finance related decisions for the Hotel. This individual will present suggestions for business improvements and meaningful solutions to Finance issues, as they occur.

General Duties and Responsibilities

• Assist the Director of Finance to provide direction and counsel during pre-opening to ensure the Finance department is properly set-up and in compliance with all Federal and State regulations.
• Develop and maintain finance policies and operating practices necessary to successfully operate a luxury hotel.
• Ensure compliance is monitored and maintained with all State and Federal taxes and regulations. Monitor all tax payments to ensure proper filing and prompt payment.
• Must possess mental dexterity to be flexible and provide counsel and advice on various finance issues and processes throughout the hotel to ensure proper long term operational practices are in place and adhered to consistently.
• Manage/oversee the accounting department to ensure optimal efficiency of financial operations and adherence to The Watergate Hotel commitments to management contracts.
• Supervises preparation all financial reports, ledger reviews and forecasts according to the established schedule, for distribution of operational information necessary to assist management in decision-making and budget preparation processes.
• Oversees preparation of, interprets and analyzes monthly financial statements and presents to management.
• Compiles financial data related to operations, investigate and critique variances from expectations to determine cause and recommend appropriate management response to insure attainment of hotels financial objectives.
• Establishes and oversees /audits all internal financial controls to include purchasing, cash handling, receipts, disbursements, expendable/fixed asset inventories, and payroll and employee records to insure policies are enforced according to The Watergate Hotel standards.
• Coordinates annual internal and external audit processes.
• Ensures the proper utilization, maintenance and periodic upgrading as required of all IT systems and equipment.
• Assists management and ownership in the capitol planning process by providing appropriate ROI information.
• Coordinates the development of the Annual Budget and Monthly Forecasts.
• Assists division and department heads in the preparation of their respective budgets.
• Maintains files, pertaining to and ensuring compliance with, insurance policies, all contracts and legal agreements.
• Ensures proper, timely payment of fees for licenses, permits, regulatory contracts and insurance's, all taxes.
• Serves as active member of Executive Committee and attends all related Meetings.
• Approves as needed all purchase orders, payroll submittals, cash transfers to owners, manual checks, balance sheet and bank reconciliations, month end journal entries, bad debt write-off's and all Watergate Hotel inter-hotel billings.
• Directs cash management activities to ensure the proper use and timely availability of funds.
• Interviews, selects, trains, appraises, coaches, counsels and disciplines accounting personnel according to Watergate Hotel standards.
• Evaluates individual employee performance, determines areas in need of improvement or requirements for advancement, establishes goals, objectives and training needs required to achieve same.
• Evaluate changes in guest needs, the hotels guest mix and industry competitive set, to recommend appropriate product/service and operational changes necessary to ensure guest and employee satisfaction, while maintaining market dominance and exceptional financial prospects.
• All other reasonable duties as directed by the Director of Finance

Requirements:

Experience and Requirements

• Bachelor's degree in Accounting, Finance or Hospitality Management is required.
• 5+ years Assistant Controller/Controller Experience in Hospitality Accounting operations is required. Those with luxury hotel specific experience will be strongly favored.
• Computer proficiency is required; expert level Excel skills are required; MICROS, Timesaver, ADP, Opera, are all required proficiencies.
• Prior experience leading and directing managers and a team of accounting professionals is required.
• Prior experience as an Executive Committee member is strongly preferred; those with demonstrated ability to form and articulate strategic vision will be favored.
• Ability to assemble, analyze, and understand integrated spread sheets and complex technical information is a necessity.
• Must be able to prioritize and set goals for self and others; must be able to work under tight deadlines and produce high quality of work at all times.
• Must be a superior communicator with fluency in English required.
• Ability to work flexible schedule to include weekends and holidays as needed to accomplish all business goals and directives