Long Island City, New york
Financial Controller Job Opening in Long Island City, New york - Position: Financial Controller
Reporting to: General Manager
Primary Functions: Supervises and directs the financial activities of the hotel, safeguards the assets, and prepares all financial reports in accordance with generally accepted accounting principles and Sela Group Standards.
Executive Committee Responsibilities
* Ability to perform special financial analysis as needed and/or requested by General Manager and Corporate Office.
* Practical solutions from a cost vs. benefits viewpoint. Provide accurate policy interpretations.
* Actively participate in staff meetings and coordinate monthly P&L review.
* Assist other managers in analyzing statements, distributions, and other financial data.
* Support and comply with property standards and Corporate SOP's.
Financial and Accounting Practices, Procedures, and Policies
* Prepare and finalize month-end close and balance sheet and bank reconciliations.
* Skill in correcting deficiencies identified on Internal Audit report.
* Maintain effective cash control system with audits and reports for each period.
* Review security over assets and auditing inventories.
* Understanding of all pertinent leases, contracts, agreements, covenants, and restrictions.
* Knowledge of City, County, State sales tax laws and laws dealing with innkeepers, liquor, and labor.
Budget Preparation
* Schedule and coordinate the preparation and presentation of the annual operating budget.
* Complete entries required for preparation of the financial statements. Review statements for inaccurate data and make corrections within the following period.
* Inform the General Manager ownership of current and potential financial problems.
* Keep management informed of sales and profit attainment throughout the period.
* Coordinate the property's labor management system.
Accounts Receivable
* Maintain appropriate standards for 60-90 day accounts. Conform to standards regarding the average collection period.
* Documenting the local credit policy and auditing property compliance.
* Approve all major accounts for credit as defined by local policy.
* Conduct credit and write-off meetings as requested.
* Submit accurate and timely critiques and credit loss reports as required.
* Review all major banquet functions and group accounts for proper credit extensions prior to arrival.
* Maintain standard regarding level of bad debt expenses as related to credit sales.
* Aggressively fulfill the accounts receivable management responsibilities to maximize receivable realizations. Responses to Corporate Staff
Balances in Asset and Liability Accounts
* Reconcile account balances on a current basis.
* Establish balances in accruals, pre-paid, and other accounts using proper accrual methods and expense realization logic.
* Calculate various turn ratios and days available for major asset categories and compare to standards (linen, gift shop, food, beverages, guest supplies, and uniforms).
* Work with Department Managers to control inventory balances according to established realistic pars.
* Comply with company procedures on deferring payments.
Management of Department
* Maintain and update job descriptions and standards for department.
* Ability to comply with local policies for wages paid (increases and timing).
* Comply with attendance rules and be available to work on a regular basis.
* Perform any other job duties as assigned.
Required
* Must have a solid knowledge of financial and labor and employment laws.
* B.S. in Accounting or Hotel Management Master?s Degree Preferred
* 3+ years experience in Hotel or Hospitality related Finance and Accounting.
* Excellent Microsoft office skills including advanced Excel knowledge.
* Analytical approach to problems, regard for detail and accuracy
* Assertive personality, professional demeanor * Command of the English language both written and verbal.
* Ability to work independently as well as part of a team in a fast-paced and high volume environment with emphasis on accuracy and timeliness
* Strong problem solving skills, deep accounting principles knowledge, documentation skills, research and resolution skills, data analysis and multi-tasking skills
Job Type: Full-time
Salary: $75,000.00 /year
Required education:
Bachelor's
Required experience:
Hospitality Related Accounting: 3 years
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