• Liaise and co-operate with both Internal and External Audit. Ensure that an effective programme of in-hotel audit is in place and that corrective action is promptly taken • where required. Give particular emphasis to ensuring that all revenue is captured. Make use of a monthly control checklist. • Develop best practice financial accounting and control procedures. Financial reporting and control to be an area of continuous review and development with the aim of maximizing both impact and efficiency. Management Reporting Focused, innovative and balanced reporting that stimulates management action • Develop high quality management information and performance measurement that is timely, accurate. Reporting should be thought provoking and action oriented. • Implement reporting that incorporates benchmarking, identification and measurement of key performance indicators, and use of the balanced scorecard. Reporting should not only look to historical performance within the hotel, but also outwards and forwards. Business Support Provision of the highest standards of financial and commercial support to the Business • Support and advice on financial and commercial matters to the General Manager and to the hotel team, including the interpretation of financial data. • Review management information for the hotel and make proposals for the General Manager for value added initiatives. • Provide financial and commercial skills to support business development initiatives, major pricing decisions and other commercial decision making. • Optimize the use of I.T. within the finance department to improve efficiency and information. • With Project Managers, support the implementation of financial systems in the hotel. Full support for The Future Office project is a critical element of the Controller position. • With the ISM ensure proper use and maintenance of financial systems, including adequate security and back up procedures. Optimizing returns on capital investment • Utilize project evaluation techniques to assist in directing investment to those projects which optimize returns both for the individual project and the enterprise as a whole. • Prepare and review the AFE, ensuring financial accuracy and sound commercial and business judgement is applied to the process, and that authorization is obtained prior to commitment of the hotel to expenditure. • Perform post investment audit on major capital investments. • Ensure compliance with HI capital policy. Maintain proper control and recording of project spends. • Where applicable, prepare review and be involved in the production of financials for new developments and acquisitions. Operating against meaningful strategic plans and budgets with accurate forecasting • Take a support role to the General Manager in hotel strategic planning. Particular emphasis on Master-Planning and “thinking outside the box” to identify value opportunities. • Manage the formulation, review and approval process for budgeting within the hotel. • Ensure a regular cycle of forecasting takes place within the hotel with content and detail appropriate to the needs of the operation. Ensuring the best person in each job, in an environment of continuous development • Recruit and retain the best people for the job, especially at Assistant Controller level. Make use of succession planning to develop and replace individuals effectively. Establish and maintain good employee relations within the Finance Department. • Aim to maximize efficiency in the accounting department. We should aim for optimum staffing levels - in many cases this is not the case now. Recognize that a highly organized Accounts Office is often a sign of an efficient department. • Develop the effectiveness of the hotel finance function through the ongoing training and development of the team. Lead and motivate the team to high levels of performance. • Ensure you manage to specific measurable objectives. Give regular feedback including appraisals. • Both the Controller and Assistant should have a personal development plan. • Provide training to enhance the financial skills of the Management Team as a whole. Optimise cash position in an environment of tight control • Minimise the level of working capital, with particular emphasis on the management of debtors, stocks and sundry receivables. Maximise interest earnings and minimise interest expense. • Maintain accurate cashflow forecasts for at least one year ahead, and ensure adequate notice is given To Hilton, and to Owners, of any future cash requirements. • Ensure full reconciliation of all bank accounts on a monthly basis. The highest standards of control must be maintained over all cash and bank balances at all times. Support the operation to optimise efficiency of the cost base • Understand and measure cost drivers for the hotel. Utilise innovative analysis to stimulate thought and management action. • Ensure that adequate purchasing procedures are in operation so that purchases of goods and services are made in the most cost-effective manner. • Benchmark costs against other hotels. Identify cost reduction opportunities. Manage financial risks of the business. |