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Director of Finance

2 months ago

Dallas, United States The Joule Full time

Compensation Type: Yearly Highgate Hotels:

Highgate is a leading real estate investment and hospitality management company widely recognized as an innovator in the industry. Highgate is the dominant player in major U.S. gateway cities including New York, Boston, Miami, San Francisco and Honolulu, with a growing Caribbean and Latin America footprint. The hospitality forward company provides expert guidance through all stages of the property cycle, from planning and development through recapitalization or disposition. Highgate has a proven record of developing its diverse portfolio of bespoke lifestyle hotel brands, legacy brands, and independent hotels and resorts with 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 consisting of some of the most experienced hotel management leaders, the company is a trusted partner for top ownership groups and major hotel brands. Highgate maintains corporate offices in New York, Chicago, Dallas, London, Miami, and Seattle.

Location:

The Joule Dallas, TX

Built in the 1920s, the neo-Gothic landmark building at 1530 Main Street was originally the Dallas National Bank. It dominated the downtown skyline during a thriving era of Dallas banking and West Texas oil booms. Downtown Dallas flourished through the ’80s, but as the 20th century drew to a close, it was a shadow of its former glory. A decade of development deals and massive renovations transformed the then-vacant bank building into a Forbes four-star boutique hotel. Aptly named after the international unit of energy, The Joule brought a charge to downtown Dallas when it opened in 2008. Through a series of further renovations and expansions as adjacent properties became available, The Joule has become a cultural, shopping, and dining destination—a forerunner in the renaissance of downtown Dallas.

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 of internal control; ensuring compliance with all federal, state, and local regulations and Highgate Hotels’ 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 accurate recordings 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 critique variances to budget or to the prior year and offers practical improvement methodologies to management. 
  • Ensure hotels’ compliance with all regulatory licenses and permits, leases, contracts, legal agreements, and the proper execution of all operational taxes. Aid management in enforcing compliance on all these items. 
  • Analyze financial data and operations 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 the 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 Key Statistics Report, Cash Flow 
  • Annual: Budgets, 5-Year Plans, 5-Year Capital Plans 
  • Timely interacts with Executive Committee members to assure that property operations are always on track and under control. 
  • Monitor hotels’ compliance in meeting required report deadlines and due dates and react accordingly. 
  • Monitor the accurate production of the hotel’s daily operating report. 
  • Executes other special projects and responsibilities as assigned. 
Qualifications:
  • Must supervise 2 or more employees 
  • Long hours are sometimes required. 
  • Always maintain a warm and friendly demeanor. 
  • Must be able to effectively communicate both verbally and written, with all levels of employees and guests in an attentive, friendly, courteous, and service-oriented manner. 
  • Must be effective at listening to, understanding, and clarifying concerns raised by employees and guests. 
  • Must be able to multitask and prioritize departmental functions to meet deadlines. 
  • Approach all encounters with guests and employees in an attentive, friendly, courteous, and service-oriented manner. 
  • Attend all hotel-required meetings and trainings. 
  • Maintain regular attendance in compliance with Highgate Hotels 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 nametags. 
  • Comply with Highgate Hotels Standards and regulations to encourage safe and efficient hotel operations. 
  • Adhere to all Generally Accepted Accounting Principles and USALI 11th Edition.  
  • Maximize efforts towards productivity, identify problem areas, and assist in implementing solutions. 
  • Must be effective in handling problems, including anticipating, preventing, identifying, and solving problems as necessary. 
  • Must be able to understand and evaluate complex information, data, etc. from various sources to meet appropriate objectives. 
  • Must be able to maintain confidentiality of information. 
  • Perform other duties as requested by management. 

Education and Experience: 

  • At least 5 or more years of Hospitality Finance/Accounting experience. 
  • Prior Controller or Director of Finance experience 
  • Excellent verbal and written communication skills. 
  • Bachelor’s degree required preferably in Finance or Accounting. 
  • Must be proficient in Windows, Company approved spreadsheets and word