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Vice President Finance Operations

Company: Sonesta International Hotels Corporation
Location: Newton
Posted on: September 12, 2020

Job Description:

Job Description Summary

The Vice President Operations Finance is responsible for the oversight and management of financial functions in Sonesta’s 160 managed hotels in the United States. The role will have oversight of approximately 45 full-service hotel finance teams with direct reports including: Director of Finance, Hotel Transitions, Director of Finance Hotel Operations, and Full-service hotels Directors of Finance (Dotted Line Reporting). Job Description

Operational/Functional

Direct and manage the Company’s hotel-based financial functions to ensure compliance with financial management and reporting requirements under the hotel management agreements.

Perform regular on-site property financial reviews to evaluate performance of the hotel Directors of Finance, to test internal controls, and collaborate with hotel General Managers to improve operating performance.

Prepare a report for each property visit that describes deficiencies in compliance with Company policies and identifies opportunities to improve performance.

Develop and advise on revenue generation, cost management, and reimbursement strategies.

Responsible for preparing comprehensive periodic reports of the financial results of the company’s managed hotels in established corporate formats and accordance with generally accepted accounting principles.

Collaborate with Senior Operations Leadership to lead regular reviews of hotel financial statements with hotel management teams.

Prepare regular forecasts and annual operational and capital budgets as required and to report on any material deviations or non-compliance to the approved budget to the Executive Vice President of Operations and/or their designee.

Coordinate and direct the hotel operating budgets and capital expenditure plans. Ensures that revisions to budgets and plans discussed during budget review meetings are incorporated into the final versions submitted for Corporate and Owner approval.

Collaborate with hotel General Managers to prepare a professional development plans and performance evaluations for their respective Directors of Finance. Monitor hotel Directors of Finance development progress and provide mentorship to hotel Directors of Finance and their Finance Department team members.

Lead the Finance Training Team for new hotel openings and takeovers ensuring the effective implementation of Company policies and procedures and internal accounting controls. Together with the opening or incumbent Director of Finance interviews, select the accounting department staff. Implement effective accounting controls and procedures at development projects prior to appointment of the opening Director of Finance.

Coordinate and collaborate with the Vice President of Finance Shared Services on financial internal controls and transaction processing in the Sonesta Shared Services Center.

Coordinate and collaborate with the Director of Internal Audit to perform detailed reviews or internal audits of managed hotels and prepare comprehensive action plans to correct deficiencies cited following discussion with hotel management.

Assist the Chief Financial Officer and Executive Vice President of Operations in preparing financial pre-opening budgets, staffing guidelines, property and design reviews, working capital requirement forecasts and with other project requirements for regional hotels.

Maintain an effective relationship with ownership representatives and asset managers through regular communications and follow up with information requests.

Strategy and Planning

Evaluate and advise on the impact of long-range planning, introduction of new programs/strategies and regulatory impact.

Collaborate with Operations and other company discipline teams to development and implement finance policies and procedures that support the company’s global strategies and programs and improve hotel operational efficiency for profit optimization.

Develop and promote a culture of continuous process improvement and automation.

Establish, monitor, and report on performance to agreed upon Service Level Agreements with organizational stakeholders. Manage team performance against relevant SLA metrics to achieve and maintain SLA goals.

Actively engages in developing personal professional competencies to maintain awareness of changes in hotel operations trends, revenue generating opportunities, accounting regulations and laws, financial reporting, tax, and payroll matters.

Leading with Passion

Leads and directly manages the full-service hotels Finance Team. This includes attract, retain and development of talent. Responsible for performance reviews and effective performance management of the team.

Conduct department and business unit meetings to ensure a smooth running and compliant payroll function at Sonesta.

Cultivates positive employee relations and morale. Practice sound leadership and management principles to promote a strong culture of teamwork.

Ensure team members receive proper training applicable to their position and career aspirations and in accordance with company policy and/or local law

Responsible for team member professional development and provides timely performance feedback.

Responsible for monitoring, measuring, and recognizing performance of team members who directly report to the role and indirect reports

Handle employee issues in a professional and timely manner

Support, comply and promote company initiative, policies and guidelines.

Additional Job Description

15+ years as financial leader in full-service property environment with decentralized property accounting functions. Additional experience working with centralized financial shared services or out-sourced finance functions is also preferred.

Must be able to maintain good relationships with all departments in the hotel, corporate and owners to promote effective internal control and financial advisory role.

Must have the ability to communicate and the commitment to follow all local and corporate policies and procedures.

Must have thorough knowledge of all jobs in Accounting, Procurement, Systems Management and Food and Beverage Control areas.

Must have a high degree of professional integrity, and be able to work safe, effectively and efficiently.

B.S. in Hotel Administration and/or Business Administration/Accounting. A current CPA license holder or possessing a Master’s degree in Business, Finance, or Accounting and a current is highly desirable.

Knowledge of hotel accounting and other systems (i.e. OPERA, Micros, SpaSoft, etc.) and general business systems (i.e. Microsoft Office and Outlook, financial reporting, etc.)

Benefits

Sonesta recognizes that benefits play a vital role in helping ensure the health and financial security of employees and their families. We offer a variety of benefits to our employees including:

Health Benefits (Health & Dental Insurance)

401(k) Retirement Plan

Vacation

Sonesta Hotels & Other Outlets Discounts

Paid Holidays

Sick Days

Educational Assistance

Employee Recognition Programs

Newborn & Adopted Child Leave

Spousal & Domestic Partner Leave

Life Insurance

Short Term Disability

Long term Disability

Employee Referral Program

Credit Union

Direct Deposit

Employee Activities & Events

Upon submitting your application, please ensure you complete a full application in addition to attaching a resume. Incomplete applications received will not be considered.

Posted 5 Days Ago

Full time

R-0014720

About Us At Sonesta , we value our team members as individuals who enhance our guests’ experiences with their unique skills and contributions. We actively support professional growth and personal happiness in each of our employees at each of our hotels, resorts, suites and cruise ships. We seek out people who will eagerly partner with us to improve the overall Sonesta experience for our guests, and the overall Sonesta experience for their fellow colleagues. If you are interested in a career in some of the most impressive and beautiful surroundings in the world with generous benefits and perks, we hope you’ll get in touch with us.

We are an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, national origin, religion, age, color, sex, sexual orientation, gender identity, disability, or protected veteran status, or any other characteristic protected by local, state, or federal laws, rules, or regulations.

Keywords: Sonesta International Hotels Corporation, Newton , Vice President Finance Operations, Other , Newton, Massachusetts

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