Job description / Role
Under the business supervision of the Regional Director of Finance & Business Support and the General Manager, and within the limits of FRHI policies and procedures and local requirements, the position is responsible for the supervision of all members of the hotel Finance and Accounting Department.
The Cluster Director of Finance & Business Support provides strategic leadership, functional guidance and valuable insights to Operations Leader, Partner, Executive Committee and Department Heads for optimal business decision; Interacting with hotel’s legal counsel, insurance companies, tax consultants, auditors, commercial and government banks to effectively control the assets of the business. The Cluster Director of Finance & Business Support will be a highly motivated team player with strong accounting, communication, business presentation and analytical skills. Strong systems background needed.
Ideally situated on the Arabian Gulf in Ajman, UAE, the newly built Fairmont Ajman has opened May 2015. The hotel close proximity to both Sharjah and Dubai airports. The hotel features 252 guestrooms and suites, including two luxurious penthouse offerings, a multitude of dining options and fitness facilities. The beachfront location offers guests a wide range of leisure activities including water sports and diving as well as access to shopping and cultural excursions. Event planners can take advantage of 2,000 square meters of indoor function space as well as outdoor facilities.
Located on the east coast of the United Arab Emirates with sweeping views of the Gulf of Oman and lauded for its natural beauty set against the backdrop of the historic Hajar Mountains, a Fairmont flag will fly at Fairmont Fujairah. The project will consist of a 194-room hotel with dedicated meeting facilities, a Willow Stream spa and a marina. The hotel opened in December 2016
Summary of Responsibilities:
• Reporting to the Regional Director of Finance & Business Support and both the General Managers, responsibilities and essential job functions include but are not limited to the following:
Business Partnering and Performance Management:
• Creation and embracing the culture of business partnering by working with General Manager. The Cluster Director of Finance & Business Support and the General Managers are jointly responsible for achieving optimal operating performance and returns for FRHI and our owners without losing sight of all measured KPI’s.
• Develop and manage key relationships and respective Management Committee members and their senior managers to provide financial support and understanding of short and long-term financial plans.
• Review financial performance of department/area, analysis of variances, forecasts and budgets. Challenge existing strategies and/or recommend alternate strategies to continually improve effectiveness of the business or financial management.
• Contribute to all business decisions of the hotel regarding revenue generation, hotel expenditure and investment.
• To assist other department heads in the development and implementation of “corrective action plans” on internal and or external audit and operational reports.
• To assist in the development of the business acumen of all levels of the hotel Leadership team to ensure they understand the impact of every component on the business as a whole and embrace the fiscal reporting processes, and information available in order to drive the performance of their areas of responsibility.
• Attend and contribute to Weekly Revenue Meeting discussions with a focus on identifying opportunities and risks in Rooms, Conference & Banqueting and other revenues, to drive revenue growth.
• Promote, drive and maximize GOP Theoretical Flow Through concept across the departments.
• Support the General Managers in developing a strong business relationship with hotel owner by participating and contributing in meetings and discussions and responding proactively to owner requests and initiatives within the boundaries of the HMA.
Financial Planning, Reporting and Analysis:
• Responsible for the analysis and interpretation of the financial data and communicating this in a comprehensible form, of meaningful variations in the operations. The analysis of the balance sheet accounts, on a selected basis and the preparation of the monthly internal benchmarking and operational performance analysis reports.
• To assist in the development and implementation of benchmarking techniques that will enable the hotel to enhance revenues while improving productivity and cost efficiencies. To seek, identify and implement throughout the hotel best practices that will serve to enhance revenues, guest service and improve cost and productivity efficiencies.
• To assist in preparing, in conjunction with the General Managers and other department heads, the annual budget, capital budgets and the rolling forecast. The Cluster Director of Finance & Business Support will establish the annual budget preparation procedures and guidelines.
• To recommend and assist in the design, implementation, and use of methods and procedures that improve the accuracy of working schedules, labor standards, forecast, plans to assist operational staff. Monitor on an ongoing basis the accuracy and recommend correct measurements as necessary.
• To provide accurate and complete financial and management reports on a timely basis to hotel management, corporate office and owners in accordance with the company and ownership reporting requirements and policy. In addition, the Cluster Director of Finance & Business Support is responsible for reporting accurately and timely, the actual results as compared to budget/forecast results.
• He/she is to maintain adequate records to reflect the comparison of the actual expenditures for furniture, equipment and operating equipment to the budgeted amounts.
• Manage all facets of the capital process. Ensure all hotels establish and maintain the tracking of fixed assets sub-ledgers and depreciation.
• To participate in the development, maintenance and adherence to a single chart of accounts, payroll and expense dictionary, and the function of accounts in order that the hotels financial and statistical data is accurately and consistently recorded and reported.
• In addition to the preparation of all financial statements, accounting and statistical reports, and any other special report that may be required by corporate office or the General Managers, the Cluster Director of Finance & Business Support is responsible for interpreting said reports and then communicating the results with the General Managers and relevant department heads.
Compliance & Risk Management:
• Has a fiduciary responsibility to the Company and/or Owners for ensuring the hotels are reporting in compliance with the policies, the Uniform Chart of Accounts and hotel management or other contractual arrangements with respect to accounting matters.
• All laws and fiscal regulations of the area location, which effect financial matters of the hotel, will be complied with. This includes seeing that proper permits and licenses are obtained for such things as beverage licenses, sellers permit, business licenses, etc.
• To protect the owners and the management company’s interest in the hotel assets and operations. The Cluster Director of Finance & Business Support should be the guardian of the Hotel Management Agreement. Management Agreement terms, priorities, performance tests and incentive fees distribution requirements are completely understood and managed.
• The safe keeping of all lease and contracts and any other legal records and documents, which may affect the financial status of the hotel. Such documents are to be listed and keep current on the Critical Date List.
• Working with General Managers and hotel executive committee, Cluster Director of Finance & Business Support shall conduct regular operations risk assessments, establish a risk register for the hotel and prepare an action plan addressing the mitigation of identified risks, subject to regular reporting and follow up on the execution of the risk action plan. They shall ensure the timing and accurate reporting of all incidents in accordance with Company protocol.
Control and Policies & Procedures:
• A thorough knowledge of policies and procedures required. A thorough knowledge of understanding and proper application of policies and procedures.
• Control systems are monitored and audited on a regular basis, as documented by Audit Services, to measure compliance with internal controls. Segregation of duties for non-compatible functions is enforced. Controls are explained and understood by all employees, as part of their job description that the employee has signed off on.
• Accountable for the development, documentation and maintenance, within hotels, to ensure compliance with the requirements of internal/standard controls.
• Ensure cash flow is adequate to meet the needs of the operation. Approve all cash disbursements and ensure that all disbursements are properly documented and executed. Approve all rebates, adjustments and allowances in accordance with company policy.
• Issues surrounding Accounting, Policy or Controls are reviewed with GM, Regional Director of Finance & Business Support and /or Executive Director, Finance & Business Support.
• Developing, implementing and monitoring credit and collection procedures and guidelines pursuant to “adopted” corporate credit policies.
People and Talent Management:
Work within the company's Human Resource Management System to ensure the departmental performance of staff is productive. Duties include:
• Operate efficiently and optimize staffing levels
• Plan for future staffing needs (Succession Planning)
• Recruit in line with company guidelines
• Prepare detailed orientation programmes for new colleagues
• Maintain a comprehensive, current and guest focused set of departmental standards and procedures and oversee their implementation
• Ensure training needs analysis of your departmental staff is carried out and training programmes are designed and implemented to meet needs
• Deliver training
• Actively work at developing your direct reports and identify high potentials
• Conduct probation and formal performance appraisal in line with company guidelines
• Coach, counsel and discipline staff, providing constructive feedback to enhance performance
• Approve leave requests after considering peaks and troughs in the business
• Regularly communicate with staff to maintain positive relationships
• Accounting Designation, Bachelor's or Master's Degree in Business, Finance, or a relevant field of work, or an equivalent combination of education and work related experience.
• CPA or MBA preferred
• 10+ years progressive work related experience in multiple areas of accounting and/or capital projects management and reporting, financial and/or business analysis, accounting, merger/acquisition analysis, or a related area, with 5 to 7 years managing teams and/or significant complex projects.
Technical Skills and Knowledge:
• Demonstrated ability to assess and understand a variety of internal and external economic and financial issues which impact the business, to analyze data and forecast future business trends, and to develop effective financial plans based on businesses assessments
• Demonstrated experience in leading & developing people. Strong communication skills, both verbal and written to address all levels within the organization and ability to gain consensus and influence others.
• Demonstrated experience with accounting system or similar financial software for the purpose of financial reporting, analysis and presentation.
• Demonstrated knowledge of finance, budgeting, and accounting processes and regulations, along with demonstrated knowledge of capital projects management standards and techniques and GAAP regulations and procedures.
Decision making responsibilities (Key Decision Rights):
• Significant impact on the financial planning, cost management, budgeting and operations of assigned unit. Decisions made and analytical data gathered directly influences business operating decisions made by senior management.
• Significant impact on the tracking and maintenance of budget and financial performance data for assigned division, on capital spend, and on the accurate and timely reporting of current financial and budget status to senior management.
Visa Requirements: Please note that you must be eligible to live and work in Ajman. We will assist successful applicants with the visa process and provide flights and accommodation.
Apply Today: Whether you’re launching your career or seeking meaningful employment.
About Fairmont Hotels & Resorts:
At Fairmont Hotels & Resorts we offer our guests the finest hospitality experience in each of our destinations. And we know that, to offer our guests the best, we first need to offer our employees the best. That’s why you'll find exceptional work opportunities—throughout North America and the Caribbean, Europe and Africa, the Middle East and Asia Pacific—as well as industryleading training, career development, recognition and rewards. Fairmont Hotels & Resorts is a celebrated collection of hotels that includes landmark locations like London’s The Savoy, New York’s The Plaza, and Shanghai’s Fairmont Peace Hotel. Our teams are guided by values of Respect, Integrity, Teamwork and Empowerment; we employ the highest ethical and quality standards, treating all colleagues with fairness and dignity. A community and environmental leader, Fairmont is also regarded for its responsible tourism practices and award winning Green Partnership program. An exciting future awaits!
About the Company
We are thrilled to embark on an exciting new chapter as Fairmont Hotels & Resorts, and our unrivaled collection of iconic hotels including Fairmont San Francisco, Fairmont The Norfolk, Nairobi, Fairmont Banff Springs, London's The Savoy and the Fairmont Peace Hotel in Shanghai, join AccorHotels Group, one of the world's largest global hotel companies. Together, as a global community of hospitality leaders, we remain committed to cultivating a culture in which our colleagues are encouraged to realize their full potential through rewarding experiences and development opportunities. This exciting growth translates into opportunities, not just to better meet the needs of our guests, but opportunities for you to grow your career within our incredible brands around the world!
With our distinctive hotels around the world - and more in development - our global hospitality brand is renowned for its warm, engaging service and unique, culturally rich experiences. Located in some of the world's most unforgettable destinations, Fairmont's unrivalled collection reflects a sense of heritage, sophistication, and social importance. We are also committed to responsible tourism and are an industry leader in sustainable hotel management with our award-winning Green Partnership Program.
We have a 100 year tradition of delivering excellent service in some of the most iconic properties in the world. Our focus on service begins with selecting talented individuals who embody our Brand Promise: Turning moments into memories for our guests