Director of Finance at The New Yorker Hotel

New York, New York, United States -

Full Time

Start Date

Immediate

Expiry Date

17 Jul, 26

Salary

150000.0

Posted On

18 Apr, 26

Experience

5 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Financial reporting, Cash flow management, Budgeting, Variance analysis, Internal controls, Financial auditing, Hospitality finance, Accounting, Staff supervision, Forecasting, Regulatory compliance, General ledger, Payroll management, Asset management, Strategic planning

Industry

Hospitality

Description

Compensation Type Yearly Highgate Hotels Highgate is a leading real estate investment and hospitality management company with over $15 billion of assets under management and a global portfolio of more than 400 hotels spanning North America, Europe, the Caribbean, and Latin America. With a 30-year track record as an innovator in the hospitality industry, this forward-thinking company provides expert guidance through all stages of the property cycle, from planning and development through recapitalization or disposition. Highgate continues to demonstrate success in developing a diverse portfolio of bespoke lifestyle hotel brands, legacy brands, and independent hotels and resorts, featuring contemporary programming and digital acumen. The company utilizes industry-leading revenue management tools that efficiently identify and predict evolving market dynamics to drive outperformance and maximize asset value. With an executive team of seasoned hospitality leaders and corporate offices worldwide, Highgate is a trusted partner for top ownership groups and major hotel brands. www.highgate.com Location New York City, NY Overview The Director of Finance is responsible for providing consistent leadership in the financial area of the hotel by focusing on the profitability of the business; maintaining accurate and timely financial reporting; ensuring acceptable levels on internal control; ensuring compliance with all federal, state, and local regulations and Highgate Hotels ‘s Standard Operating Procedures; and safeguarding owners/investors assets. Responsibilities Effectively manage and communicate cash flow related issues. This includes the accurate and timely preparation of monthly financial statements for the property: cash flow statements, management of receivables, payables, cash balances, control mechanisms and timely deposits of all funds. Monitor hotel revenues and expenses and ensure the accurate recording in accordance with Highgate Hotels established guidelines. Monitors and controls Hotel’s cash flow and operating forecast. Creates annual budgets and monthly variance analysis. Investigates and critiques variances to budget or to prior year and offer practical improvement methodologies to management. Ensure hotels’ compliance on all regulatory licenses and permits, leases, contracts, legal agreements, and the proper execution of all operational taxes. Provide assistance to management in enforcing compliance on all these items. Analyze financial data and operations in order to assist and advise management in maintaining the hotels’ financial objectives. Complies with Standard Accounting policies and procedures and internal controls for finance and accounting operations Timely reviews and approval of all balance sheet accounts, including monthly bank reconciliation and general ledger account reconciliations. Establish and continually audit all internal financial controls including purchasing, cash handling, disbursements, inventories, hotel assets, master keys, payroll, and employee records. Successful completion of all internal and external financial audits, including coordination of work with CPA firms and delivering information requested by auditors on a timely basis. Hire, train, supervise and develop staff, including coaching, counseling and discipline. Maintain compliance with Highgate Hotels’ standards and regulations to ensure safe and efficient operation of the hotel. Directs or prepares all financial reports in accordance with Highgate Hotels’ requirements, meeting various due dates and deadlines, i.e: Weekly: A/R & A/P Aging, Flash Reports, Payroll Reports, Revenue Updates Monthly: Financial Statements, Forecasting KeyStatistics Report, Cash Flow Annual: Budgets, 5-Year Plans, 5-Year Capital Plans Timely interacts with Executive Committee members to assure that property operations are on track and under control at all times. Monitor hotels’ compliance in meeting required report deadlines and due dates and react accordingly. Monitor the accurate production of the hotel daily operating report. Executes other special projects and responsibilities as assigned. Qualifications At least 5 or more years of Hospitality Finance/Accounting experience. Prior Controller or Director of Finance experience, preferably at a premium-branded Hotel. Excellent verbal and written communication skills. Bachelor’s degree required preferably in Finance or Accounting. Must supervise 2 or more employees Must be proficient in Windows, Company approved spreadsheets and word processing and in the operation of all hotel-specific systems.

Responsibilities

The Director of Finance is responsible for overseeing the financial health of the hotel, including cash flow management, budgeting, and financial reporting. They must ensure compliance with internal controls, regulatory requirements, and company standards while supervising the finance team.