Director of Finance
Job Description
<strong><u>Company Description</u></strong><p><br></p><strong>Fairmont The Palm</strong> is a luxury, world-class resort located on the iconic Palm Jumeirah Island in Dubai. The hotel features 391 guest rooms and suites with dedicated Fairmont Gold rooms and lounge. A total of 11 food and beverage outlets on property offer international dining options including Michelin Guide recommended 2022 and 2023 Little Miss India, Frevo – Brazilian Churrasco experience, Seagrill Bistro, Ba Restaurant and Lounge, Blowfish, Flow Kitchen, The Cigar Room, Vuvuzela and others. Fairmont The Palm also features an expansive pool and beach area with a health club, Willow Stream Spa and the Fairmont Falcons Kids’ Club.<p><br></p><strong><u>Job Description</u></strong><p><br></p>The Director of Finance manages the hotels (Fairmont The Palm, Movenpick Hotel Jumeirah Lakes Towers and Riva Beach Club) in a professional, efficient manner with flexible service where possible to ensure maximum guest satisfaction consistent with Accor Standards, through planning, organizing, directing and controlling the Accounting & Finance and Information Systems policies and procedures operation and administration. This role will also play a crucial role in overseeing and managing financial operations for our property, as well as providing centralized financial services to other entities within our owning company.<p><br></p><strong><u>Summary Of Responsibilities</u></strong><p><br></p><strong>Financial Planning and Budgeting:</strong><p><br></p><ul><li> Develop and implement the hotel’s financial planning and budgeting process, in alignment with the hotel’s strategic goals and objectives.</li><li> Monitor and review budget performance regularly, identifying areas for improvement and cost-saving opportunities.</li></ul><p><br></p><strong><u>Financial Reporting</u></strong><p><br></p><ul><li> Prepare and present accurate and timely financial reports, including income statements, balance sheets, cash flow statements, and other financial metrics to the hotel’s management and ownership.</li><li> Analyze financial data to provide insights into the hotel’s performance and make strategic recommendations for improvement.</li></ul><p><br></p><strong><u>Revenue Management</u></strong><p><br></p><ul><li> Work closely with the revenue management team to set room rates and optimize revenue through effective pricing strategies.</li><li> Monitor and analyze revenue streams from various hotel operations, such as room revenue, food and beverage, and other ancillary services.</li></ul><p><br></p><strong><u>Cost Control And Expense Management</u></strong><p><br></p><ul><li> Implement cost control measures to manage expenses efficiently without compromising on service quality and guest satisfaction.</li><li> Review and approve expenditures, ensuring compliance with budgetary guidelines and procurement procedures.</li><li> To oversee the financial operation of the hotel.</li><li> To co-ordinate an effective and efficient Payroll Management/Resource allocation through establishing a flexible work force throughout the Division, based on the principles of Multi-Skilling and Multi-tasking.</li></ul><p><br></p><strong><u>Financial Compliance</u></strong><p><br></p><ul><li> Ensure compliance with all relevant financial regulations, accounting standards, and local tax laws.</li><li> Coordinate and liaise with external auditors during the hotel’s annual audit process.</li></ul><p><br></p><strong><u>Cash Management</u></strong><p><br></p><ul><li> Oversee cash flow management and maintain adequate cash reserves to meet operational needs.</li><li> Implement and monitor cash handling procedures to minimize risks of fraud or theft.</li></ul><p><br></p><strong><u>Financial Strategy And Analysis</u></strong><p><br></p><ul><li> Collaborate with the hotel’s executive team to develop financial strategies that support overall business objectives.</li><li> Conduct financial analysis to assess investment opportunities, cost-effectiveness on various initiatives.</li><li> Provide tools for future planning and control.</li><li> Ensure that invoices and petty cash are paid and recorded correctly.</li><li> Ensure that remittances are received and recorded correctly</li><li> Support the preparation and processing of journals for all transactions at month-end ensure these are correctly recorded in the general ledger and prepare financial statements accordingly.</li></ul><p><br></p><strong><u>Team Management</u></strong><p><br></p><ul><li> Lead and supervise the finance team, including accountants and financial analysts, providing guidance and support in their roles.</li><li> Facilitate training and development opportunities to enhance the team’s financial acumen.</li><li> Ensure that all financial reports are submitted accurately and on time.</li><li> Ensure smooth management of the accounting department and refer those matters that are relevant to the Financial Controller.</li><li> Ensure all historical information is filed in a way that provides easy access, including microfilming or other storage where necessary.</li><li> Organize vacation planning for the Finance and Accounts Department.</li></ul><p><br></p><strong><u>Qualifications</u></strong><p><br></p><ul><li> Degree in Finance, Accounting or a related field & professional accounting qualification</li><li> Minimum 5 years experience at managerial level that includes:</li><li> Track record of driving hotel finance performance.</li><li> Strong technical accounting, finance & taxation skills.</li><li> Preparation, review, analysis & presentation of management & statutory reporting.</li><li> Extensive Knowledge of hotel internal controls.</li><li> Knowledge of budget process.</li><li> Team Management, with ability to meet tight deadlines & coach team.</li><li> Ability to communicate with stakeholders at various levels.</li><li> Previous experience leading teams in a cluster or similar structure will be considered a strong asset.</li><li> English skills: excellent verbal and written communication is required.</li><li> Computer literate, including systems implementation & knowledge of Sun, Opera & Micros</li></ul>
