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Director of Finance

Posted September 24, 2021

The Ven at Embassy Row, Washington, D.C., a Tribute Portfolio Hotel
Washington, DC
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About This Job

RESPONSIBILITIES:

Financial:

  • Acts as the “Chief Business Officer” to the general manager and EC Team, and as such is responsible for evaluating the financial impact on business decisions.
  • Ensure that all levels of management are promptly notified of any financial deviations from established policies and/or control weaknesses in the hotel.
  • Effectively manage and communicate cash flow related issues, as required to management and ownership.  This includes the accurate and timely preparation of cash-flow statements, management of receivables, cash balances, control mechanisms and timely deposits of all funds.
  • Monitor hotel revenues and expenses and ensure the accurate recording in accordance with Crescent Hotels and Resorts established guidelines.  Investigate and critique variances to budget or to prior year and offer practical improvement strategies to management.
  • Monitor the capital planning process by assisting management with calculation of return on capital improvements, gathering support and monitoring the bid process, and evaluating scope of work and specifications.
  • 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.
  • Coordinate the completion of all forecasts and budgets as required, with the full and active participation of EC Team and department managers.
  • Analyze financial data and operations in order to assist and advise management in maintaining the hotels’ financial objectives.
  • Ensure that all balance sheet accounts, including bank reconciliations are reconciled on a timely basis.
  • Establish and continually audit all internal financial controls including purchasing, cash handling, disbursements, credit extension, inventories, hotel assets, master keys, payroll, and employee records.
  • Embrace a continuous growth environment by actively hiring professional staff and assisting in recruiting, reviewing, recommending and maintaining an inventory of qualified and promotable Associates that can potentially become Controllers, Assistant Controllers, Accounting Managers, and other managers for the organization.
  • Continually focus on training and development programs for finance associates to cultivate the “brightest” and “best” talent within the industry.
  • Hire, train, supervise and develop staff, including coaching, counseling and discipline.
  • Maintain compliance with Crescent Hotels and Resorts standards and regulations to ensure safe and efficient operation of the hotel.
  • Ensure proper utilization, maintenance and periodic upgrades of all IT systems and equipments.
  • Direct and/or prepare all financial reports in accordance with IHR requirements meeting various due dates and deadlines:

Daily:

  • Review and submit a Daily Revenue Report.
  • Ensure timely deposit of all cash and transmission of Credit Cards.
  • Review Labor Report for overtime and any variance to Forecast.

Weekly:

  • Review departmental Checkbooks and advise of any needed changes.
  • Distribute and discuss weekly G/L report with department managers.
  • Update GM on any unfavorable financial issues impacting the month.
  • Ensure there is sufficient cash to meet all scheduled obligations.

Monthly:

  • Reconcile Balance Sheet with proper back up.
  • Ensure that all banks are counted.
  • Count the main vault.
  • Review “Key Financial Controls” Checklist to ensure adherence and compliance.
  • Review actual numbers to forecast to find discrepancies in forecasting to improve accuracy in future months.
  • Participate in the monthly Credit Meeting.
  • Actively participate, complete and review the forecast with Department Heads prior to submission.

Annual:

  • Complete the Internal Control Questionnaire (ICQ) bi-annually.
  • Conduct a surprise payroll audit bi-annually.
  • Actively participate, complete and review the annual budget with Department Heads prior to submission.
  • Prepare all analysis that may be required by ownership and outside accounting firms.
  • Conduct and/or attend and contribute to periodic meetings to maintain favorable working relationships among employees and promote maximum morale, productivity, and efficiency:

                Executive Committee                                         Sales & Service                    Financial Review

                Departmental Budget & Forecast                     Credit & Collection             Business Review Meeting

  • Ensure and monitor that the hotel is in compliance with all report deadlines and due dates and reacts accordingly.
  • Maximize efforts towards productivity, identify problem areas and assist in finding and implementing their solutions.
  • Approach all encounters with guests and employees in an attentive, friendly, courteous and service-oriented manner.
  • Maintain regular attendance in compliance with Crescent Hotels and Resorts standards, as required by scheduling which will vary according to the needs of the hotel.
  • Maintain high standards of personal appearance and grooming, which include wearing the professional attire and nametag when working.
  • Comply at all times with Crescent Hotels and Resorts standards and regulations to encourage safe and efficient hotel operations.

Management:

  • Participate in M.O.D. coverage as required.
  • Attend meetings/training as required by management.
  • Perform other duties as requested by management.

QUALIFICATION STANDARDS

Education & Experience:

  • A minimum of 5 years of related progressive experience in hotel Accounting or related field; or a 4-year college degree with an Accounting/Finance concentration and a minimum of 4 years of related progressive experience; or a 2-year college degree and a minimum of 6 years of related progressive experience.

Physical Requirements:

  • Long hours sometimes required.
  • Sedentary work, exerting up to 25 pounds of force occasionally and/or negligible amount of force frequently or constantly to lift, carry, push, pull or otherwise move objects.

Mental Requirements:

  • Must be able to convey information and ideas clearly.
  • Must be able to evaluate and select among alternative courses of action quickly and accurately.
  • Must work well in stressful, high pressure situations.
  • Must maintain composure and objectivity under pressure.
  • Must be effective in handling problems in the workplace, including anticipating, preventing, identifying and solving problems as necessary.
  • Must have the ability to assimilate complex information, data, etc., from disparate sources and consider, adjust or modify to meet the constraints of the particular need.
  • Must be effective at listening to, understanding, and clarifying the concerns and issues raised by co-workers and guests.
  • Must be able to work with and understand financial information and data, and basic arithmetic functions.
  • Must be able to prioritize departmental functions in order to meet due dates and deadlines.

PERFORMANCE STANDARDS

Customer Satisfaction: 

Our customers are what we are about.  One of the keys to a positive guest experience is positive interaction with Crescent staff.  It is essential that you remain professional at all times, and that you treat all guests and associates with courtesy and respect, under all circumstances.  Every Crescent associate is a guest relations ambassador, every working minute of every day. 

Work Habits:

In order to maintain a positive guest and associate experience, your work habits should always meet and strive to exceed hotel standards for work procedures, dress, grooming, punctuality and attendance.  You should be adaptable to change in your work area and in hotel procedures with a willingness to learn new skills and/or improve existing ones, have the ability to solve routine problems that occur on the job and ask for help whenever you are not sure how to do something.

Safety & Security: 

The safety and security of our guests and associates is of utmost importance to Crescent.  Every Crescent associate should adhere to the hotel security policies and procedures, particularly regarding key controls, lifting heavy objects, using chemicals, and effectively reporting safety hazards and safety concerns.

NOTE

This description excludes non-essential and marginal functions of the position that are incidental to the performance of the fundamental job duties.  Furthermore, the specific examples in each section are not intended to be all-inclusive.  Rather, they represent the typical elements and criteria considered necessary to perform the job successfully.  Other job-related duties may be assigned by the associate’s supervisor.

Furthermore, this description is subject to change, in the sole discretion of the Company, and in no way creates an employment contract, implied or otherwise; each associate remains, at all times, an “at will” associate.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information. 41 CFR 60-1.35(c)

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About this Employer

The Ven at Embassy Row, Washington, D.C., a Tribute Portfolio Hotel

2015 Massachusetts Avenue NW
Washington, DC 20036

(202) 265-1600

231 Room Hotel

www.thevenembassyrow.com

Surrounded by Embassy Row’s stately mansions, The Ven at Embassy Row, Washington, D.C., a Tribute Portfolio Hotel blends the neighborhood’s ambassadorial heritage with stylish and comfortable amenities. Our address at Embassy Row is perfect for meeting up, making connections and forging relationships while in Washington, D.C. Here in the city’s diplomatic corridor, our hotel brings diverse travelers together, located steps from Red Line Metro Station and within easy access to the capital, notable landmarks and museums. Coming this spring, the Ven Café will offer the quality and convenience of thoughtful and seasonal fare throughout the day. This summer, take in views of the iconic Washington, DC skyline at The Rooftop, our 9th-floor pool and bar. Our three meeting rooms serve as the backdrop for your next event at Embassy Row. With a sophisticated, never stuffy, and all-inclusive spirit, our 231 guest rooms and suites reflect the bold style of Dupont Circle.