Overview:
• Provide management with timely financial analysis for effective decision-making. Prepare all statutory and management requirements of Lotte Hotel and Owners. Develop financial strategies including IT strategies to help develop the business and review periodically.
Responsibilities:
• Assists and provides financial guidance in the formulation and implementation of Strategic Plan, Budget and KPO's (Goals Program)
• Ensure an up to date cash flow projection is maintained and maximizes cash flow performance of the hotel through controls on inventory, credit and collection, disbursements, deposits and remittances
• Ensure excess cash is managed to maximize earning potential
• Prepares outlooks for forthcoming months and forecasts for the remainder of the year
• Prepares monthly position of actual results against budget, analyze results and recommend to Management measures required to meet budget
• Prepare consolidated quarterly position assessments for the Finance Director
• Distributes outlook and forecast information as an up to date management tool for operating departments
• Implement and review financial controls and policies
• Communicate with Management and maintains good relations and attends liaison meetings when required
• Analyze financial and management reports
• Design internal reporting systems required by the department and hotel
• Evaluate existing internal control measures that apply to accounting procedures and computer systems as per Lotte Hotel Policies and Procedures
• Employ adequate internal control procedures to ensure correct authorization for payment procedures
• Manage internal and external audits when they occur
• Provides administrative support to Management with reference to policy enforcement, business advice and operational assistance
• Identifies training needs, develops formal training plans and conducts training sessions for accounting and operational staff in coordination with other departments
• Identifies staff with potential for promotion and/or transfer within Accounting operation
• Obtains appropriate legal counsel regarding the business practices of the hotel and maintains an awareness of local laws, rules and regulations
• Provides safekeeping, including proper storage and access for all contracts, leases and other financial records
• Follows up on all capital expenditures to ensure compliance with original justification and approval
• Participates in local recognized professional and industry organizations
• Recommends and maintains appropriate list of delegation of authority for hotel management
• Conducts monthly inspections and tests to ensure all departments are complying with required procedures
• Reviews prices and recommends pricing strategy to the Finance Director
• Implements and maintains acceptable accounting practices and procedures as required by Lotte Hotel Policy, generally accepted accounting practices, and as affected by local conditions
• Select and monitor the Local Banking arrangements made for the operation of the Hotel
• Review of operating equipment stores to avoid unnecessary/excessive purchases and to eliminate (or at least be aware) of obsolete slow moving items
• Ensure all accounts are reconciled on monthly basis, review and approve those reconciliation's
• Ensure payments are made to Lotte Hotel (All Fees and billings) as fast as possible
• Management of work flows of the finance department
• Assist in the maintenance of the fixed asset register on an annual basis
• Together with the
IT Manager develop yearly strategic goals for the hotel relating to financial measures
• Work with Head of Departments to perform ad hoc cost
• Demonstrated ability to interact with customers, employees and third parties that reflects highly on the hotel, the brand and the Company.
• Proficient in the use of Microsoft Office
• Problem solving, reasoning, motivating, organizational and training abilities.
• Good Communication and writing skills
• Bachelor's degree in Accounting, Finance or related field. CPA preferred.
• 4 years in hotel accounting or audit with at least one year in similar supervisory role, or an equivalent combination of education and work-related experience.
