Director of Finance

5 days ago

Jeddah, Saudi Arabia RIXOS Full time

Company Description

Billed as ‘the first luxurious integrated resort in Jeddah’, Rixos Obhur Jeddah will meet the increasing demand for luxurious hospitality paired with high-quality leisure activities in the area. Among its many highlights will be a fun water park and an exclusive private beach.

The resort will host guests in 247 residential units, including 174 rooms and 73 villas with a Club Prive lounge, as well as a fine-dining restaurant, two specialty beach restaurants and a lounge bar.

Other amenities are to include a central ballroom for events, meeting rooms, a fitness centre, a spa, kids and teens clubs, and several swimming pools. All of this will be set amid green landscaping, golden beaches and a port.

**Job Description**:
**_
How will your day be..._**

As**_ _**the Director of Finance, you will assist in preparing, in conjunction with the General Manager and other department heads, the annual budget, capital budgets and the rolling forecast. The Director of Finance will establish the annual budget preparation procedures and guidelines.

Here are some of the responsibilities that await you;
**Planning & Organizing**:

- To provide accurate and complete financial and management reports on a timely and accurate basis to hotel management, corporate office and owners in accordance with the company and ownership reporting requirements and policy. In addition, the Director of Finance is responsible for reporting accurately and timely, the actual results as compared to budget/forecast results. He/she is to maintain adequate records to reflect the comparison of the actual expenditures for furniture, equipment and operating equipment to the budgeted amounts.
- Responsible for the analysis and interpretation of the financial data and communicating this in a comprehensible form, of meaningful variations in the operations.
- To assist other department heads in the development and implementation of “corrective action plans” on internal and or external audit and operational reports.
- To assist in the development and implementation of bench-marking techniques that will enable the hotel to enhance revenues while improving productivity and cost efficiencies. To seek, identify and implement throughout the hotel best practices that will serve to enhance revenues, guest service and improve cost and productivity efficiencies.
- Ensure cash flow is adequate to meet the needs of the operation. Approve all cash disbursements and ensure that all disbursements are properly documented and executed. Approve all rebates, adjustments and allowances in accordance with company policy.
- The position is directly accountable to manage the hotel accounting department, information and internal control systems and hotel finances in accordance with all policy and procedures. This position is accountable for the development, documentation, and support of Financial Polices and Operational Procedures to include performance monitoring as it relates to the hotels.
- To protect the owners and the management company’s interest in the hotel assets and operations.
- To participate in the development, maintenance and adherence to a single chart of accounts, payroll and expense dictionary, and the function of accounts in order that the hotels financial and statistical data is accurately and consistently recorded and reported.
- Has a fiduciary responsibility to the Company and/or Owners for ensuring the hotels are reporting in compliance with the policies, the Uniform Chart of Accounts and hotel management or other contractual arrangements with respect to accounting matters.
- The analysis of the balance sheet accounts, on a selected basis and the preparation of the monthly internal bench-marking and operational performance analysis reports.
- Accountable for the development, documentation and maintenance, within hotels, to ensure compliance with the requirements of internal/standard controls.
- Manage all facets of the capital process. Ensure all hotels establish and maintain the tracking of fixed assets sub-ledgers and depreciation.
- All laws and fiscal regulations of the area location, which effect financial matters of the hotel, will be complied with. This includes seeing that proper permits and licenses are obtained for such things as liquor licenses, sellers permit, business licenses, etc.
- The safe keeping of all lease and contracts and any other legal records and documents, which may affect the financial status of the hotel. Such documents are to be listed and keep current on the Critical Date List.
- To ensure that hotel accounting department is operating efficiently and at an optimum staffing levels, so that there are succession plans in place for the top three positions.
- To recommend and assist in the design, implementation, and use of methods and procedures that improve the accuracy of working schedules, labor standards, forecast, plans to assist operational staff. Monitor on an ongoing basis the accuracy and

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