Vice President of Finance- M &R Hotel Management

Location :

M&R Hotel Management | 49 Watermill Lane | Great Neck, NY | 11021

SUMMARY:

The Vice President, Finance is a senior strategic leader within the M&R Hotel Management executive team tasked to direct and manage a team of controllers, finance directors, managers and staff to support the hotels managed by M&R with regard to: reporting, forecasting, budgets, diligence, financial modeling, strategic analysis and most importantly be a trusted advisor to M&R Principals and the Executive team. Candidates must have a background in hotel finance, as only those with relevant hotel experience will be considered for this opportunity.

Requirements:

• Focus on delivering accurate, timely financial reports to Lenders, Owners and M&R Principals, covering the entire M&R portfolio.
• Work with Sales, Revenue Management and Operations (and other discipline leads) to increase, develop targets and achieve business objectives supported by budgets, forecasts, lender requirements and Owner expectations.
• Liaise with lenders, outside accountants, attorneys, consultants, regulators, insurance brokers, and the like.
• Take the lead role educating individuals outside the department by providing budgeting guidance and resolution of accounting treatment where needed.
• Provide direction and advice regarding diligence work in connection with development opportunities, potential sales of hotels or refinancing arrangements.
• Ensure successful completion of comprehensive month end close.
• Ensure tax compliance with all federal, state, local, payroll and all other applicable taxes.
• Engage outside tax preparers to ensure income tax reporting compliance.
• Engage in tax strategies as needed.
• Work with outside RE Tax consultants to manage such costs via annual valuation protests.
• Lead the efforts in connection with the group insurance program (covers: GL, Property, Umbrella, Crime, Cyber, Flood coverages) and work with the VP, Procurement, IT & Corporate Services regard to claims.
• Advise COO and executive team on existing and upcoming financial and operational issues.
• Attend monthly P&L reviews with COO, VPO, GMs and Controllers to understand the results and catch any needed adjustments.
• Oversee accounting team in managing capital expense budget and ensuring that actuals are updated by the respective GMs.
• Ensure strong accounting and operational controls in support of the GMs’ responsibilities with regard to the safeguarding of the respective hotel assets.
• Engage outside accountants to review select hotels reports and issue a Review Report therefore.
• 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.
• Provide continuous direction to and education of the operational team in all areas related to finance financial reports internal controls labor management payroll month end reconciliation P&L performance etc.
• Foster strong professional relationships with the entire management group by providing direct counsel and feedback that positively impacts the performance of the business and sharpens the financial acumen of the team.
• Conducts ongoing coaching and annual reviews to influence positive team development.
• Must have the ability to explain complex issues in simple understandable terms.

Additional Requirements

• Possess a 4-year bachelor’s degree in finance/Accounting and a minimum of 7 years of experience in a finance leadership position or a 7+ year history of progressive career growth in hotel finance.
• CPA or equivalent with strong command of US GAAP and USALI (Uniform System of Accounts for the Lodging Industry).
• Experience with General Ledger systems (Sage300) / financial reporting software (Actabl - ProfitSage); Budget Software (ProfitSage) and Property Management Systems highly preferred.
• Ability to effectively review and analyze financial reports, projections and pro-forma financial models and interpret for sake of offering suggestions as a result.
• Familiarity with insurance programs, the renewal process, and premium audits.
• Must have strong time-management skills.
• Must be self-motivated, results oriented, and exhibit a “can do” attitude.
• Creative problem-solving skills
• Strong, demonstrable business and technical writing skills, including ability to draft or contribute to reports, investment memoranda, presentations, etc.
• Demonstrated leadership skills, evidenced by successfully building, motivating, and managing high performance teams and by effectively working as a partner with other executives and stakeholders with strong, demonstrable oral communication skills, including the ability to present to internal and external audiences on technical aspects.
• Reputation as a team player with a strong work ethic, integrity, candor, and willingness to accept responsibility and accountability for driving issues to resolutions.
• This is an on-site position located in Great Neck, New York. Hybrid or remote work settings will not be considered.