Finance Director - Hotels

Description:

Finance Director - Hotels
Central London (Leadership role requiring 5 days a week in the office)
Circa £120K

We are interested in speaking with ambitious Heads of Finance, Financial Controllers, Finance Directors or similar with previous HOTEL / Leisure Sector experience, seeking an exciting fast-paced growth opportunity within a well-funded group. This is a pivotal leadership role leading a growing team and as such requires 5 days a week in the office to develop, coach and build the team as the Hotels division enters a high growth phase which will see it grow from 6 to 17 properties.

The Head of Finance plays a critical role in overseeing the financial operations of the hospitality division responsible for managing and maintaining the financial integrity of the organisation. The primary objective is to ensure accurate financial reporting, effective financial planning and analysis, and compliance with accounting standards and regulations. The Finance Director collaborates with senior management and department heads to support strategic decision-making and drive financial performance.

Key Responsibilities:

Financial Planning and Strategy:
* Support the development of financial strategies, goals, and initiatives aligned with the overall business objectives of the hotel group.
* Provide financial insights and recommendations to senior management on revenue enhancement opportunities, cost control measures, and profitability improvement initiatives.
* Collaborate with cross-functional teams to evaluate potential investments, acquisitions, and capital expenditure projects.

Financial Controls and Compliance:
* Establish and maintain robust internal controls, policies, and procedures to safeguard company assets and ensure compliance with accounting principles, regulations, and internal policies.
* Coordinate and oversee internal and external audits, ensuring timely completion and resolution of audit findings.
* Stay updated with changes in accounting standards and regulatory requirements and implement necessary adjustments to financial processes and reporting.

Team Management and Development:

* Lead and mentor the finance team, providing guidance, training, and performance feedback.
* Foster a culture of teamwork, accountability, and continuous learning to enhance the skills and capabilities of the finance staff.
* Ensure effective communication and coordination within the finance team and across other departments.

Financial Reporting and Analysis:
* Prepare and review timely and accurate financial statements, including income statements, balance sheets, and cash flow statements, in compliance with accounting standards and regulations.
* Conduct in-depth financial analysis to assess the financial performance of the hotel group, identify trends, and provide insights and recommendations to senior management.
* Develop and maintain key financial metrics and KPIs to monitor business performance and support strategic decision-making.

Budgeting and Forecasting:
* Lead the annual budgeting process for the hotel group, collaborating with department heads to develop detailed budgets and financial forecasts.
* Monitor actual financial performance against budgeted targets, analyse variances, and provide explanations and recommendations to address deviations.
* Assist in the development of financial models and projections to support long-term planning and capital investment decisions.

Cash Flow Management
* Manage cash flow, monitor liquidity positions, and optimize working capital management across the hotel group.
* Oversee treasury functions, including banking relationships, cash flow forecasting, and risk management strategies.
* Ensure accurate and timely processing of accounts payable and accounts receivable and monitor collections and payment activities.

Payroll Management
* Oversee the effective management of hospitality payroll, meet deadlines and demonstrate controls.

Qualifications and Skills:
* Bachelor's degree in Accounting, Finance, or a related field
* ACA, ACCA, CMA/CGMA qualified
* Proven experience (ideally 5+ years post qualification) in financial management and accounting, preferably within the hospitality industry or a multi-unit organisation.
* Thorough knowledge of accounting principles, financial reporting standards, and regulatory requirements.
* Strong analytical and financial modelling skills, with the ability to interpret complex financial data and provide strategic insights.
* Excellent understanding of budgeting, forecasting, and financial analysis techniques.
* Proficiency in financial software and systems, including advanced knowledge of MS Excel and accounting software.
* Solid understanding of internal controls, risk management, and compliance.
* Strong leadership and people management skills, with the ability to motivate and develop a diverse finance team.
* Effective communication and interpersonal skills to collaborate with stakeholders at all levels of the organisation.

Person Profile:
* Experienced financial leader, competent, confident self-starter
* Roll sleeves up & get stuck in role
* Can bring in structure & processes
* Can build a team & lead it
* Experience with lenders preferred

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