Director of Finance

Crescent Hotels & Resorts is looking for a talented Director of Finance for the VEN Embassy Row Hotel, a Marriott Tribute Portfolio Hotel located at Dupont Circle in Washington, DC. This hotel is known for its vibrant neighborhood, beautiful parks, historic architecture, and diverse community.

At Crescent Hotels & Resorts, we are a team of hospitality professionals that are deeply connected to & proud of the exceptional experiences we provide for our guests. More than that, we know our Associates are the shining stars of what we do

We understand what it takes to be part of something great. We encourage you to bring your authentic self to work every day; we celebrate your individuality and support you as you excel in your career. Our offerings include health and wellness programs, top-notch learning and development opportunities, and travel discounts to satisfy your adventurous spirit. We are committed to creating a workplace that meets your needs. We are excited for you to start your journey with us, where You Belong, We Care, and Shine Bright.

We are committed to providing you with:

• Highly competitive wages ranging from $115,000 to $130,000
• An exceptional benefit plan for eligible associates & your family members
• 401K matching program for eligible associates
• Flexible scheduling to allow you to focus on what is important to you
• Discounts with our Crescent managed properties in North America for you & your family members

The Director of Finance is responsible for providing ethical and consistent leadership in the financial area of the Hotel and Residences by supplying management with guidance, training, support and is also responsible for focusing on the profitability of the business, maintaining accurate and timely financial reporting, ensuring acceptable levels of internal controls, ensuring compliance with all federal, state, and local regulations, and safeguarding owners/investors assets. Understand how to work with hotel PMS and outlet POS systems. Preferably knowledgeable in the Marriott system.

What will you be doing?

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 CHR 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.

Required Skills/Abilities:

• A minimum of 3 years' experience as a Hotel Director of Finance.
• 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.
• Demonstrated knowledge and accuracy in P&L composition, forecast accuracy and overall financial management that exceeds owner expectations.

Our Differences Are What Make Us Great:

At Crescent Hotels & Resorts we strive to create a great place to work where associates at all levels of our organization are respected for their differences, just like the guests and owners we serve. That's why we are dedicated to creating an environment that facilitates open and honest conversations about race, equity, diversity, and inclusion. By examining our own beliefs and behaviors, we can create change through training, recruiting, and promoting diverse talent to strengthen our culture.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.