JOB DESCRIPTION / ROLE
The Hyatt Place Experience. Hyatt Hotels have long been known for going beyond simple accommodations to create rewarding experiences for their guests. Through dramatic design, innovative cuisine and attentive service, Hyatt approaches the hotel stay as an opportunity to inspire. Hyatt Place, a new kind of Hyatt where the style's relaxed, and the standards are anything but. Hyatt Place is designed to give guests a brand-new hotel experience. And you are the key to bringing it to life.
The Management Accountant will be responsible for assisting the Finance team in the effective implementation of all Finance & Accounting policies and procedures. The primary role of the Management Accountant is to interpret financial results and work with respective heads of departments to maximize operating results, providing them with tools for future planning and control.
Reporting to the Cluster Resident Finance Director, you will be responsible for ensuring all departmental operational manuals are prepared and updated annually. Our ideal candidate is an analytical professional who should perform well under deadlines and have strong attention to detail. Ultimately, you should be able to co-ordinate all financial procedures in accordance with local laws and regulations.
Experience in a similar role is essential, as is understanding the operations of a large corporate hospitality provider. You will possess excellent organizational, communication and leadership skills.
- Financial Reporting: Oversee the preparation and analysis of accurate and timely financial statements, including income statements, balance sheets, and cash flow statements, ensuring compliance with accounting principles, regulations, and internal policies.
- Revenue and Cost Analysis: Analyze revenue streams, occupancy rates, average daily rates (ADRs), and expenses to identify trends, opportunities for improvement, and cost control measures.
- Budgeting and Forecasting: Coordinate the development of annual operating budgets and forecasts in collaboration with department heads and the executive team, monitoring performance against targets and providing variance analysis.
- Financial Controls: Establish and maintain strong internal controls to safeguard assets, prevent fraud, and ensure compliance with financial regulations and industry standards.
- Team Management: Supervise and mentor a team of accountants, providing guidance, training, and performance evaluations to ensure high-quality work and professional development.
- Accounts Payable and Receivable: Oversee the accounts payable and accounts receivable functions, ensuring accurate and timely processing of invoices, payments, and collections.
- Cost Control and Analysis: Monitor and analyze costs, including labor, food and beverage, utilities, and other operational expenses, identifying areas for cost reduction, efficiency improvement, and profitability enhancement.
- Financial Planning and Strategy: Contribute to the development and implementation of financial strategies, policies, and procedures to optimize financial performance, support business growth, and achieve strategic goals.
- Audit and Compliance: Coordinate and support external audits, ensuring timely completion and accurate provision of required financial information. Stay updated on accounting standards and ensure compliance with statutory and regulatory requirements.
- Financial Analysis and Reporting: Provide regular and ad hoc financial analysis and reports to the hotel's management team, offering insights into financial performance, key metrics, and trends, and recommending actions for improvement.
- Collaborative Partnerships: Collaborate closely with other departments, including operations, sales, and revenue management, to provide financial insights, support decision-making processes, and optimize operational efficiency.
- Month-end and Year-end Closing: Assist in the timely and accurate preparation of financial statements, ensuring compliance with accounting standards and regulatory requirements.
Qualifications and Skills:
- Bachelor's degree in Accounting, Finance, or a related field. Professional certifications such as CPA, CMA, or ACCA are preferred.
- Proven experience as an Accounting Manager or in a similar role within the hotel or hospitality industry.
- Comprehensive knowledge of hotel accounting principles, financial reporting, and budgeting processes.
- Proficiency in hotel-specific financial systems, property management systems (PMS), and accounting software.
- Strong leadership and managerial skills, with the ability to motivate and develop a team of accountants.
- Excellent analytical and problem-solving abilities, with an attention to detail and accuracy.
- Effective communication and presentation skills, with the ability to convey complex financial information to non-financial stakeholders.
- Solid understanding of internal controls, audit processes, and compliance requirements.
- Experience with financial analysis, forecasting, and performance metrics in the hotel industry.
- Familiarity with hotel operations and revenue management principles.
- Advanced proficiency in Microsoft Excel and financial analysis tools.
ABOUT THE COMPANY
Hyatt was founded by Jay Pritzker in 1957 when he purchased the Hyatt House motel adjacent to the Los Angeles International Airport. Over the following decade, Jay Pritzker and his brother, Donald Pritzker, working together with other Pritzker family business interests, grew the company into a North American management and hotel ownership company, which became a public company in 1962. In 1968, Hyatt International was formed and subsequently became a separate public company. Hyatt Corporation and Hyatt International Corporation were taken private by the Pritzker family business interests in 1979 and 1982, respectively. On December 31, 2004, substantially all of the hospitality assets owned by Pritzker family business interests, including Hyatt Corporation and Hyatt International Corporation, were consolidated under a single entity, now Hyatt Hotels Corporation.