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About the Role

The Director of Finance will provide ethical and consistent leadership by supplying management with guidance, training, and support. This role focuses on business profitability through accurate financial reporting, ensuring internal controls, regulatory compliance, and safeguarding assets.

Responsibilities

• Acts as the “Chief Business Officer” to the general manager and EC Team, responsible for evaluating the financial impact on business decisions.
• Ensures management is promptly notified of any financial deviations from established policies and/or control weaknesses.
• Manages and communicates cash flow related issues, including accurate and timely preparation of cash-flow statements, receivables management, cash balances, control mechanisms, and timely deposits.
• Monitors hotel revenues and expenses, ensuring accurate recording per guidelines. Investigates and critiques variances to budget or prior year, offering improvement strategies.
• Monitors the capital planning process by assisting management with return on capital improvements, gathering support, monitoring the bid process, and evaluating scope of work.
• Ensures hotels’ compliance with all regulatory licenses and permits, leases, contracts, legal agreements, and operational taxes.
• Coordinates the completion of all forecasts and budgets with active participation from the EC Team and department managers.
• Analyzes financial data and operations to assist and advise management in maintaining hotels’ financial objectives.
• Ensures all balance sheet accounts, including bank reconciliations, are reconciled on a timely basis.
• Establishes and audits all internal financial controls, including purchasing, cash handling, disbursements, credit extension, inventories, hotel assets, master keys, payroll, and employee records.
• Actively hires professional staff and assists in recruiting, reviewing, recommending, and maintaining an inventory of qualified Associates for finance roles.
• Focuses on training and development programs for finance associates.
• Hires, trains, supervises, and develops staff, including coaching, counseling, and discipline.
• Maintains compliance with Crescent Hotels and Resorts standards and regulations for safe and efficient hotel operations.
• Ensures proper utilization, maintenance, and periodic upgrades of all IT systems and equipment.
• Directs and/or prepares all financial reports in accordance with IHR requirements, meeting various due dates and deadlines.
• Reviews and submits a Daily Revenue Report.
• Ensures timely deposit of all cash and transmission of Credit Cards.
• Reviews Labor Report for overtime and any variance to Forecast.
• Reviews departmental Checkbooks and advises of any needed changes.
• Distributes and discusses weekly G/L report with department managers.
• Updates GM on any unfavorable financial issues impacting the month.
• Ensures sufficient cash to meet all scheduled obligations.
• Reconciles Balance Sheet with proper back up.
• Ensures all banks are counted.
• Counts the main vault.
• Reviews “Key Financial Controls” Checklist to ensure adherence and compliance.
• Reviews actual numbers to forecast to find discrepancies and improve accuracy.
• Participates in the monthly Credit Meeting.
• Actively participates, completes, and reviews the forecast with Department Heads prior to submission.
• Completes the Internal Control Questionnaire (ICQ) bi-annually.
• Conducts a surprise payroll audit bi-annually.
• Actively participates, completes, and reviews the annual budget with Department Heads prior to submission.
• Prepares all analysis required by ownership and outside accounting firms.
• Conducts and/or attends and contributes to periodic meetings to maintain favorable working relationships and promote morale, productivity, and efficiency.
• Ensures and monitors hotel compliance with all report deadlines and due dates.
• Maximizes efforts towards productivity, identifies problem areas, and assists in finding and implementing solutions.
• Approaches all encounters with guests and employees in an attentive, friendly, courteous, and service-oriented manner.
• Maintains regular attendance in compliance with Crescent Hotels and Resorts standards.
• Maintains high standards of personal appearance and grooming.
• Complies at all times with Crescent Hotels and Resorts standards and regulations to encourage safe and efficient hotel operations.
• Participates in M.O.D. coverage as required.
• Attends meetings/training as required by management.
• Performs other duties as requested by management.

Requirements

• A minimum of 8 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.
• Long hours may sometimes be 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.
• 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.

Skills

• Financial reporting
• Internal controls
• Regulatory compliance
• Cash flow management
• Budgeting
• Forecasting
• Financial analysis
• Balance sheet reconciliation
• IT systems management
• Staff training and development
• Problem-solving
• Communication
• Interpersonal skills

Location

• New York

Work Type

• Full-time

Experience Level

• 8+ years of experience

Education Level

• 4-year college degree in Accounting/Finance or related field
• 2-year college degree

Salary/Compensations

• $170,000-$180,000 annually

Benefits

• Exceptional benefit plan for eligible associates & their family members
• 401K matching program
• Discounts with Crescent managed properties in North America for you & your family members

About the Company

• NoMo SoHo is a hotel located at 9 Crosby, inspired by the neighborhood, representing an intrigue for the nostalgic + modern with a curated collection of vintage and contemporary art.
• Crescent Hotels & Resorts is a team of hospitality professionals proud of the exceptional experiences they provide for guests, valuing their Associates as shining stars.
• Crescent Hotels & Resorts encourages employees to bring their true selves to work, celebrates them, and supports their career journeys through health & wellness programs, best-in-class learning and development, and travel discounts.

Equal Opportunity

• We are committed to providing you with: Highly competitive wages of $170,000-$180,000 annually
• An exceptional benefit plan for eligible associates & your family members
• 401K matching program
• Discounts with our Crescent managed properties in North America for you & your family members