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Assistant Director of Finance

General Information

Country/Region
Bahamas
Province/City
Nassau
Location
Rosewood Baha Mar
Department
Finance
Job Type
Full-time Permanent

Job Description

KEY RESPONSIBILITIES

Hierarchical Competencies:

• Reports to the DOF or the MD in the DOF’s absence. Makes recommendations and suggestions of improvements and cost savings to the DOF and MD.
• Is responsible for the proper supervision, training and administration of assigned staff.
• Responsible for the assignment of duties within the accounting staff and fully assumes these duties during staff’s absences.
• Completes any other duties assigned by the DOF, MD

 Functional Duties:

• Assists in preparing comprehensive monthly reports of the financial results of the hotel in established corporate formats and accordance with generally accepted accounting principles.
• Manages staff; trains, administers performance evaluations, motivates, and disciplines.
• Ensures that all local, state/province and national taxes are deposited timely, and related reports are filed on a timely basis.
• Maintains and safeguards all contracts, licenses, leases, and ensures compliance with their requirements.
• Coordinates annual Internal/External Audit
• Always conducts self in a professional manner to reflect the high standards of Rosewood and encourages staff to do the same.
• Must be able to maintain good relationships with all departments in the hotel, corporate and owners to promote effective internal control and financial advisory role.
• Must have the ability to communicate, and the commitment to follow, all local and corporate policies and procedures.
• Must have thorough knowledge of all jobs in Accounting, Purchasing, Systems Management and Food and Beverage.
 
Daily:

• Ensures timely and accurate completion of Daily Sales, Labour, Food Cost, Beverage Cost, Complimentary Guest
• Checks and Cashier Over/Short reports. Ensures the reports are being published to operational departments daily.
• Reviews all revenue adjustments, paid out vouchers and F&B complimentary guest checks. Checks for reasonableness and proper authorization. Processes approval and/or corrective action comments as warranted.
• Routes to Controller and Hotel Manager for additional review and approval.
• Responds to communications on an ongoing daily basis. Ensures all paperwork is reviewed each day and prioritized for actions to be taken.
• Reviews and approves all non-F&B invoices for payment. Verifies compliance to purchasing, receiving, contractual terms, G/L coding account distribution, payment discount terms, and accommodation tax payment liability. Identifies any material discrepancies and advises Controller prior to posting for payment. On an ongoing basis, tracks the source of discrepancies, particularly for operating department’s compliance to purchasing and receiving policies.
• Ensures the daily review and edit of travel agent commissionable room nights, from the Property Management System is being performed.
• Ensures the prompt response and problem resolution of any/all guest requests. Where appropriate, advises the DOF of issues in order that he/she may assist in the immediate resolution and apprises the operating departments of common requests, particularly those of a repetitive nature.
• Ensures daily sales reports for assigned entities are completed timely and accurately and delivered to corporate management per requirements.
• Ensures timely and accurate deposits of all cash, check and credit card receipts.
• Reviews and approves all petty cash purchases. Verifies accuracy of charges and completeness of proper approval and receipt. Assigns appropriate general ledger coding for payment.

Weekly/Bi-Weekly:

• Schedules and monitors hours worked for Accounting employees. Verifies any/all overtime is both justified and approved. Monitors staff absences and tardiness. Administers disciplinary action as warranted.
• Ensures the labor distribution is updated on a biweekly basis and the Daily Labor Report is reconciled to the actual results.
• Ensures timely and accurate processing of bi-weekly payrolls and that all employee paychecks are distributed on a timely basis.
• Ensures payroll tax deposit requirements are processed per required statutory timing requirements.
• Ensures payroll related funding requirements are met on a timely and accurate basis.

Monthly:

• Supervises the month-end financial closings. Assigns and enforces deadlines for all stages of the closing process.
• Ensures journal entries are accurately prepared and posted to the general ledger system.
• Ensures physical inventories are scheduled and taken for beverage, operating equipment and other operating supplies per required guidelines.
• Participates in at least one of each physical inventory annually, reviewing procedures for compliance. Verifies net change entries are balanced to receipts and issues, and perpetual inventory system detail is accurately stated.
• Ensures A/P is closed and balanced by the 27th day of the month.
• Ensures month-end revenue statistics are compiled by the 1st working day following month-end.
• Audits/approves all balance sheet and P&L general ledger detail.
• By the 2nd working day, all preliminary statements and G/L reports are to be finalized and distributed to the DOF and to the Division Heads for review/approval.
• By the 5th working day, the final month-end packages must be received by Corporate.
• Updates and maintains the G/L file information. Ensures adequacy of the back office system files back up media prior to closing the books. "Closes" the system books once all month-end financial reporting requirements have been completed.
• Updates Capital Expenditure Report monthly.
• Ensures all statutory tax reporting required to be filed on a monthly basis is completed in a timely (meeting payment deadlines to avoid any penalty and/or to take advantage of any timely payment discounts) and accurate manner. This includes Accommodation Taxes, Duty, and Payroll Taxes.
• Prepares and/or reviews/approves all balance sheet account analysis and bank reconciliations, complete with supporting back-up. Clears any reconciling items before the following month-end.
Annually:
• Assists with preparation of the annual budget plans, as directed by the DOF.
• Ensures all year-end statutory tax-filing requirements are met as required, usually during January.
• Ensures all year-end front and back office closing procedures are followed per the PMS software company user guidelines.
• Completes year-end closings per required timing guidelines. Has all relevant account analysis completed for this closing. Prints a detailed G/L and attaches account analysis for submission to internal and external auditors.
• Supports annual public accounting firm audit of all books maintained.
• Prepares annual performance review evaluations of salaried/exempt employees who report to the ADOF. Identifies employee strengths/weaknesses, with respect to promotions and/or pay increases.
Other Timing Cycles:
• Audits the vacation accrual. Reports any accruals more than allowance guidelines.
• Reviews adequacy of bad debt provision and adjusts accordingly.
• Covers basic responsibilities of the DOF during vacations and other absences. Acts as backup approval authority function for check signing, purchase order approval, payroll changes, expense report reimbursement, and credit applications.
• Manages hourly employees. Hires, trains, administers performance evaluations, recommends pay rates, motivates and disciplines staff as warranted.
• Attends/participates in all meetings scheduled as required.
• Assists DOF in maintaining compliance to budgetary guidelines and policy/procedural requirements as set forth by the company. Ensures all areas of operation are familiar with these guidelines and monitors compliance.
• Manages any statutory taxing authority audits and critiques the results. Challenges inaccuracies presented on any audit findings.
• Assists in developing and implementing internally issued policies/procedures affecting improvement of the operations and financial results.
• Performs any/all special projects as assigned by the DOF, Managing Director, and/or the Vice President Finance.

Appropriate Manual/Policy and Procedures:

• Financial Controller’s Manual
• Emergency Plan

While this job description is intended to be an accurate reflection of the duties involved in this position, the company reserves the right to add, remove or alter duties when business need dictates.

CRITICAL SKILLS & QUALIFICATIONS

Requirements and Competencies:

• Working hours: The ADOF is expected to be on duty during normal working hours and whenever presence is required. An adaptation of working hours may be required to produce the month-end statements or other tasks within the prescribed deadlines.
• Language: The Senior Manager is required to speak English (with fluency in other languages preferred).
• Education/Experience: A minimum of 3+ years as ADOF in a full-service luxury property with stand- alone accounting. Holds a B.S. in Hotel Administration and/or Business Administration/Accounting. Knowledge of hotel accounting and other systems (i.e. Opera, Sunsystems, BirchStreet, Symphony) and general business systems (i.e. Outlook, Hyperion, Word, Excel).
• Conduct: Ability to handle multiple priorities and meet deadlines for financial reports. Must have a high degree of professional integrity and be able to work safely, effectively, and efficiently.
• Abilities: Must have skills in database, spreadsheet, or other accounting applications. Organizational skills are required to maintain records, inventories, and storerooms. Must be able to lift heavy objects, organize storerooms and aid receiving staff as needed.
• Uniform: Clothing should be standard business attire.

About Us

Nestled against the famed sands of Cable Beach, Nassau, the Bahamas, Rosewood Baha Mar is island hospitality at its finest. This is a place that wears its British colonial heritage proudly on its sleeve, while melding it with every global amenity imaginable. Mere steps from the sea, the Baha Mar complex is home to a beachfront casino, giving a pleasurable edge to every sun-kissed holiday. A stunning mix of intuitive service, culinary treasures and Bahamian culture, Rosewood Baha Mar offers a range of authentic restaurants and an array of distinctive Bahamian artwork. Minutes away the bustle of downtown Nassau awaits, the Bahamian capital providing a lively contrast to the serenity and tranquility of the resort. Epitomizing relaxed oceanfront living at its best, Rosewood Baha Mar gives every guest a gilded glimpse into the soul of the islands, gracing every holiday not only with crystal waters and pure white sands, but also warmth, joy and opportunity. Truly, this is a destination to be savored, and explored.