Finance Controller
Apply NowCompany: Living Room LA
Location: Los Angeles, CA 90011
Description:
Living Room
A home away from home where creatives celebrate music, art, design and culture. We are a private membership club open to members and their guests only.
The Role
We are seeking a proactive and experienced Finance Controller to lead our accounting team, with a focus on managing Accounts Payable (AP), overseeing the company's purchasing credit card program, conducting weekly Trial Balance reviews with department managers, and ensuring timely and accurate monthly balance sheet reconciliations. This position is critical in maintaining accurate financial records and supporting the financial health of the organization.
Accounts Payable (AP) Management:
Oversee the daily operations of the AP process, ensuring the timely and accurate processing of vendor invoices, payment requests, and expense reports.
Ensure that all AP entries are properly coded and comply with the company's accounting policies.
Work closely with department heads to ensure appropriate approvals and proper allocation of expenses.
Manage the AP aging process, ensuring timely payments to vendors and identifying any outstanding liabilities.
Prepare and review AP reports for management, providing insight into outstanding payments and cash flow forecasts.
Support month-end and year-end closing processes, ensuring all AP transactions are accurately recorded and reconciled.
Conduct month-end inventory counts and spot check, ensuring accuracy.
Purchasing Credit Card Program Management:
Oversee and manage the company's purchasing credit card program, ensuring all card transactions are properly documented and coded according to company policies.
Review credit card statements for accuracy and verify that purchases are made in accordance with budgetary guidelines.
Collaborate with employees and department heads to ensure compliance with credit card usage policies.
Reconcile purchasing credit card transactions and ensure that all expenses are appropriately reflected in the financial records.
Develop and maintain detailed reports on credit card spending, identifying trends or potential cost-saving opportunities.
Weekly Trial Balance Review:
Lead weekly reviews of the Trial Balance with department managers to ensure that all accounts are accurately reflected.
Analyze fluctuations or discrepancies in the Trial Balance and work with department heads to resolve any variances.
Provide detailed explanations of account movements and ensure that all journal entries are recorded correctly.
Review intercompany transactions, accruals, and adjustments to ensure that financial data aligns with expectations and business activity.
Assist with month end tasks to ensure timely and accurate completion of financial data.
Monthly Balance Sheet Reconciliation:
Manage the monthly reconciliation of all balance sheet accounts, ensuring the accuracy and completeness of financial records.
Lead the effort to investigate and resolve any discrepancies in the balance sheet, ensuring that reconciling items are identified and addressed promptly.
Provide detailed analysis and explanations for variances in balance sheet accounts and liaise with other teams as necessary.
Ensure that all balance sheet reconciliations are completed in a timely manner and in accordance with company policies and GAAP.
Support the preparation of monthly financial statements, ensuring that the balance sheet and associated accounts are accurately reflected.
Contract and Insurance Management:
Maintain up-to-date records of the company's insurance policies (e.g., liability, property, employee health, etc.).
Ensure that policies are renewed on time and in compliance with the company's risk management strategy.
Track premium payments and ensure proper accounting of these costs.
Ensure that all vendors, contractors, and partners have the required insurance coverage before contracts are executed.
Maintain and update a centralized database or system to track COIs for all active contracts.
Verify that COIs include the correct coverage limits, policy types, and additional insured endorsements as required by the contract.
Work with vendors and insurance brokers to obtain COIs and ensure timely renewals or updates.
Financial Reporting & Analysis:
Assist with the preparation of monthly and quarterly financial reports, focusing on AP- related expenses, balance sheet items, and purchasing credit card usage.
Perform variance analysis between budget, forecast, and actuals, providing insights into the reasons for discrepancies.
Support senior management by providing ad-hoc financial analysis and reports as needed.
Team Leadership & Process Improvement:
Supervise and develop a team of accounting professionals, ensuring efficient operation of the AP process, credit card management, and balance sheet reconciliation activities.
Provide training and guidance on AP procedures, credit card policies, and reconciliation best practices.
Promote a culture of continuous improvement and efficiency within the accounting department, identifying areas for process optimization and implementing solutions.
Ensure the team adheres to deadlines and maintains high levels of accuracy and compliance.
Internal Controls & Compliance:
Ensure compliance with internal controls, financial policies, and accounting standards (GAAP).
Identify and address any potential internal control weaknesses or risks, particularly in the AP and credit card processes.
Support internal and external audits by providing necessary documentation and responding to audit inquiries related to AP, credit card transactions, and balance sheet reconciliations.
Additional Responsibilities
Provides information to supervisors and co-workers by telephone, in written form, e-mail, or in person.
Demonstrates personal integrity.
Uses effective listening skills.
Demonstrates self-confidence, energy and enthusiasm.
Manages group or interpersonal conflict effectively.
Informs and/or updates the executives and the peers on relevant information in a timely manner.
Manages time well and possesses strong organizational skills.
Presents ideas, expectations and information in a concise well-organized way.
Uses problem solving methodology for decision making and follow up.
Requirements
Education: Bachelor's degree in Accounting, Finance, or a related field (required).
Experience: 5+ years of accounting experience, with at least 2-3 years in a supervisory or managerial role in a hospitality - Hotel or F&B field.
Skills & Knowledge:
o Strong experience with Accounts Payable processes and financial reconciliations.
o Knowledge of managing purchasing credit cards, including reconciliation and compliance.
o Proficiency in Trial Balance review and financial statement analysis.
o Advanced proficiency in Microsoft Excel (pivot tables, VLOOKUPs, data analysis).
o Experience with ERP accounting systems (Netsuite, Peoplevine, Toast, StudioSuite, etc.).
o Strong analytical, organizational, and communication skills.
o Ability to work in a fast-paced environment and manage multiple priorities.
Benefits
Why Join
Our Team Culture
At Living Room, we are deeply passionate about our work and we believe that hospitality is a noble pursuit because it's fundamentally human and an ideal worth chasing. We seek out those that share these beliefs as an inherent second nature and our team member culture is how we bring this idea to life. Our guiding pillars- Be Human, Be Curious, Be Empathetic, Be Soulful, and Be Honest demand that we embody these values in all that we do.
A home away from home where creatives celebrate music, art, design and culture. We are a private membership club open to members and their guests only.
The Role
We are seeking a proactive and experienced Finance Controller to lead our accounting team, with a focus on managing Accounts Payable (AP), overseeing the company's purchasing credit card program, conducting weekly Trial Balance reviews with department managers, and ensuring timely and accurate monthly balance sheet reconciliations. This position is critical in maintaining accurate financial records and supporting the financial health of the organization.
Accounts Payable (AP) Management:
Oversee the daily operations of the AP process, ensuring the timely and accurate processing of vendor invoices, payment requests, and expense reports.
Ensure that all AP entries are properly coded and comply with the company's accounting policies.
Work closely with department heads to ensure appropriate approvals and proper allocation of expenses.
Manage the AP aging process, ensuring timely payments to vendors and identifying any outstanding liabilities.
Prepare and review AP reports for management, providing insight into outstanding payments and cash flow forecasts.
Support month-end and year-end closing processes, ensuring all AP transactions are accurately recorded and reconciled.
Conduct month-end inventory counts and spot check, ensuring accuracy.
Purchasing Credit Card Program Management:
Oversee and manage the company's purchasing credit card program, ensuring all card transactions are properly documented and coded according to company policies.
Review credit card statements for accuracy and verify that purchases are made in accordance with budgetary guidelines.
Collaborate with employees and department heads to ensure compliance with credit card usage policies.
Reconcile purchasing credit card transactions and ensure that all expenses are appropriately reflected in the financial records.
Develop and maintain detailed reports on credit card spending, identifying trends or potential cost-saving opportunities.
Weekly Trial Balance Review:
Lead weekly reviews of the Trial Balance with department managers to ensure that all accounts are accurately reflected.
Analyze fluctuations or discrepancies in the Trial Balance and work with department heads to resolve any variances.
Provide detailed explanations of account movements and ensure that all journal entries are recorded correctly.
Review intercompany transactions, accruals, and adjustments to ensure that financial data aligns with expectations and business activity.
Assist with month end tasks to ensure timely and accurate completion of financial data.
Monthly Balance Sheet Reconciliation:
Manage the monthly reconciliation of all balance sheet accounts, ensuring the accuracy and completeness of financial records.
Lead the effort to investigate and resolve any discrepancies in the balance sheet, ensuring that reconciling items are identified and addressed promptly.
Provide detailed analysis and explanations for variances in balance sheet accounts and liaise with other teams as necessary.
Ensure that all balance sheet reconciliations are completed in a timely manner and in accordance with company policies and GAAP.
Support the preparation of monthly financial statements, ensuring that the balance sheet and associated accounts are accurately reflected.
Contract and Insurance Management:
Maintain up-to-date records of the company's insurance policies (e.g., liability, property, employee health, etc.).
Ensure that policies are renewed on time and in compliance with the company's risk management strategy.
Track premium payments and ensure proper accounting of these costs.
Ensure that all vendors, contractors, and partners have the required insurance coverage before contracts are executed.
Maintain and update a centralized database or system to track COIs for all active contracts.
Verify that COIs include the correct coverage limits, policy types, and additional insured endorsements as required by the contract.
Work with vendors and insurance brokers to obtain COIs and ensure timely renewals or updates.
Financial Reporting & Analysis:
Assist with the preparation of monthly and quarterly financial reports, focusing on AP- related expenses, balance sheet items, and purchasing credit card usage.
Perform variance analysis between budget, forecast, and actuals, providing insights into the reasons for discrepancies.
Support senior management by providing ad-hoc financial analysis and reports as needed.
Team Leadership & Process Improvement:
Supervise and develop a team of accounting professionals, ensuring efficient operation of the AP process, credit card management, and balance sheet reconciliation activities.
Provide training and guidance on AP procedures, credit card policies, and reconciliation best practices.
Promote a culture of continuous improvement and efficiency within the accounting department, identifying areas for process optimization and implementing solutions.
Ensure the team adheres to deadlines and maintains high levels of accuracy and compliance.
Internal Controls & Compliance:
Ensure compliance with internal controls, financial policies, and accounting standards (GAAP).
Identify and address any potential internal control weaknesses or risks, particularly in the AP and credit card processes.
Support internal and external audits by providing necessary documentation and responding to audit inquiries related to AP, credit card transactions, and balance sheet reconciliations.
Additional Responsibilities
Provides information to supervisors and co-workers by telephone, in written form, e-mail, or in person.
Demonstrates personal integrity.
Uses effective listening skills.
Demonstrates self-confidence, energy and enthusiasm.
Manages group or interpersonal conflict effectively.
Informs and/or updates the executives and the peers on relevant information in a timely manner.
Manages time well and possesses strong organizational skills.
Presents ideas, expectations and information in a concise well-organized way.
Uses problem solving methodology for decision making and follow up.
Requirements
Education: Bachelor's degree in Accounting, Finance, or a related field (required).
Experience: 5+ years of accounting experience, with at least 2-3 years in a supervisory or managerial role in a hospitality - Hotel or F&B field.
Skills & Knowledge:
o Strong experience with Accounts Payable processes and financial reconciliations.
o Knowledge of managing purchasing credit cards, including reconciliation and compliance.
o Proficiency in Trial Balance review and financial statement analysis.
o Advanced proficiency in Microsoft Excel (pivot tables, VLOOKUPs, data analysis).
o Experience with ERP accounting systems (Netsuite, Peoplevine, Toast, StudioSuite, etc.).
o Strong analytical, organizational, and communication skills.
o Ability to work in a fast-paced environment and manage multiple priorities.
Benefits
Why Join
- 100% Healthcare coverage including Dental and Vision, it's part of our commitment to you
- Wellness Benefits for a balanced lifestyle
- Competitive 401k match for your financial future
- Unlimited PTO for salaried members, because you deserve it
- Career Growth opportunities that empower you
- Leader in Development Program
- Learning & Development for your growth with us
- Immersive Trainings that nurture your talents
- Fun and Exciting Team Member Events that build bonds
- Free Team Member Meals to fuel your creativity
Our Team Culture
At Living Room, we are deeply passionate about our work and we believe that hospitality is a noble pursuit because it's fundamentally human and an ideal worth chasing. We seek out those that share these beliefs as an inherent second nature and our team member culture is how we bring this idea to life. Our guiding pillars- Be Human, Be Curious, Be Empathetic, Be Soulful, and Be Honest demand that we embody these values in all that we do.