Director of Finance and Business Support
Company description
Fairmont Ramla, Riyadh is a luxury hospitality destination offering premium serviced residences, exceptional dining experiences, and world-class guest services. As part of the renowned Fairmont brand, the property is committed to excellence and innovation, delivering unforgettable experiences through high standards in hospitality.
Job description
To lead the finance team in all financial aspects of the hotel’s operations, to ensure that all local and corporate policies and procedures are observed, and to supervise the day-to-day operations of the finance office. We are looking for an experienced director of finance to oversee all financial aspects of business and drive the company’s financial strategy and planning.
You will be responsible for:
- Financial management
Budgeting: Develop and manage the hotel’s annual budget.
Financial reporting: Prepare and present financial statements and reports to senior management.
Forecasting: Analyze financial performance and provide forecasts to inform strategic decisions.
- Operational support
Business analysis: Support operational teams by providing financial insights and analysis to enhance performance.
Cost control: Implement cost control measures to maintain profitability.
- Compliance and risk management
Regulatory compliance: Ensure adherence to financial regulations and standards.
Risk assessment: Identify and manage financial risks associated with hotel operations.
- Team leadership
Staff management: Lead and develop the finance team, fostering a collaborative environment.
Training: Provide training and support to staff on financial processes and systems.
- Strategic planning
Business development: Collaborate with other departments to identify opportunities for revenue growth.
Investment analysis: Evaluate potential investment opportunities and their financial implications.
- Communication
Stakeholder engagement: Communicate financial performance and strategies to stakeholders, including owners and management.
Cross-department collaboration: Work closely with other departments to ensure alignment on financial objectives.
These functions contribute to the overall financial health and operational efficiency of the hotel, ensuring it meets both short-term and long-term goals.
Duties & responsibilities:
Directs, coordinates, and participates in all activities of accounting personnel, such as:
Preparing management reports, financial statements, and related accounting reports
Receiving, storing, issuing, accounting for, and controlling the cost of food, beverage, general supplies, operating equipment, and fixed assets
Requisitioning needed equipment, materials, and supplies
Receiving, keeping, depositing, investing, and disbursing funds
Preparing, controlling, and maintaining all vouchers and cheques
Processing and preparing all credit applications
Auditing all revenue reports of the hotel
Ensures that all accounting reports and financial statements are prepared according to the uniform system of accounts for the hotel.
Sees to the accurate and timely preparation and submission of all accounting reports, financial statements, and tax returns.
Complies in conjunction with the management department heads who are responsible for all budgets and forecasts covering all hotel activities, and maintains all budget control procedures.
Analyzes and interprets financial statements and accounting reports of the hotel; reports to management.
Maintains all proper control systems and procedures and conducts continuous audit of all hotel accounts, records, and transactions.
Implements and administers credit and collection policies and procedures established by the general manager.
Ensures the maintenance of ledgers and subsidiary records of authorized appropriations and expenditures that are properly authorized and accounted for.
Ensures the maintenance of all subsidiary records in connection with inventories, accounts receivables, accounts payables, operating equipment, fixed assets, etc.
Supervises and directs the receiving, storing, and issuing functions to ensure that proper procedures and controls are in effect.
Assists all department heads in the preparation of their respective budgets and feasibility studies, and whenever any financial information or expertise is required.
Ensures the cleanliness and maintenance of all accounting machines and equipment.
Maintains good relations with banks to facilitate the handling of such arrangements as overdrafts, placing funds in time deposits, etc.
Maintains good relationships with the government to facilitate the handling of such hotel functions as tax matters, import licenses, and customs clearances.
Performs related duties as assigned.
Qualifications
Hotel operational finance knowledge
Accounting - demonstrated expertise in accounting principles, profit and loss statements, operating budgets, forecasting and scheduling, and the reporting of financial data
Excellent interpersonal, communication, and organizational skills
Strong problem-solving abilities
Highly responsible and reliable
Ability to work cohesively as part of a team
Ability to focus attention on both guest needs while balancing colleague needs, remaining calm and courteous at all times
Empathetic leader, keen to build emotional connection with colleagues, help them develop their strengths, and provide regular and constructive feedback
Ensures good communication of the finance information and maintains excellent relationships and partnerships with all the different hotel stakeholders (owners, hotel, and banks, etc.)
Additional information
Your work environment:
Note: The description can be adjusted to meet specific local or legal requirements, such as work permits.
Our commitment to diversity & inclusion:
We are an inclusive company, and our goal is to attract, hire, and develop diverse talent.
Requirements:
Experience: Minimum of 2–5 years of experience in the position within the luxury hotel or hospitality industry, with a proven track record of achieving sales targets and managing key accounts.
Working conditions:
Full-time position with flexibility for evening and weekend work, depending on client needs and industry events.
Compensation:
Competitive salary and commission structure based on performance.
Benefits package may include healthcare, retirement plans, travel discounts, and other perks.