Finance Officer

Roles and responsibilities

• Key Responsibilities:
• Preparing and posting daily revenue journals and distributing to them the Management
• To assist the Financial Accountant during the monthly accounts process by ensuring the preparation and posting of journals
• Ensure that the banquet department’s revenue postings are correct by reconciling the banquet “Event short list” report which is provided by the banquet manager daily.
• Review of No-Show reports and ensure that all “chargeable” no-shows have been charged.
• Completing daily income audit batch and sending it for review and approval, e.g., Room complimentary, Credit card reconciliation, rate variance, discount, void report, PM report, etc.
• Prepare extension-wise telephone reports and submit them to all departments for review.
• Validate and upload daily revenue and statistics journal into SUN ensuring all revenues are captured and in balance.
• Preparation of Municipality fees reconciliation and making sure that the same is getting paid on time.
• Maintaining a record of Revenue-related accrual such as 3rd party revenue share.
• Maintaining a record of paid Gift vouchers and their monthly reconciliation.
• Making sure that SOPs are being followed and variations should be highlighted to the concerned department.
• Prepare a bank drop sheet and deposit the cash in the bank in accordance with safety rules and SOPs.
• Maintain current house bank agreements or cash float agreements.
• Maintain the Cash Receipt Journal spreadsheet.
• Research and correct any other cashiering transactions needed.
• Collect all cash/ cheque collections of the hotel from the front office drop safe daily and ensure all money is deposited in the hotel bank account in accordance with the policies and procedures laid down by the Hotel.
• Preparation and posting of petty cash expenses in a timely manner.
• Willing to learn and relieve other sections in finance, such as AP/ AR, Cost and store.
  

Qualifications

• A bachelor's degree in Finance, Accounting, Business Administration, or a related field is often a minimum requirement.
• Familiarity with the hospitality and hotel industry is essential.
• Prior experience in Finance or Accounting roles, preferably within the hotel or hospitality industry, is highly valued.
• Knowledge of Hotel Systems: Familiarity with hotel management systems and software used for financial reporting and analysis, such as Opera (PMS), SUN Sytems, and Micros.
• Effective communication skills to collaborate with various departments within the hotel.

Desired candidate profile

1. Financial Management Skills

• Budgeting and Forecasting: Creating and managing budgets, forecasting future financial performance, and ensuring that financial resources are allocated appropriately.
• Financial Reporting: Preparing accurate and timely financial reports, including balance sheets, income statements, and cash flow statements, for management and external stakeholders.
• Cost Management: Identifying and analyzing cost-saving opportunities within the organization and ensuring that financial resources are used effectively.

2. Analytical and Problem-Solving Abilities

• Data Analysis: Reviewing financial data to identify trends, irregularities, and opportunities for financial optimization.
• Problem-Solving: Addressing and resolving financial discrepancies, budgetary issues, or challenges related to cash flow and financial planning.
• Decision-Making: Using financial data and analysis to assist in making informed decisions that support the organization’s strategic goals.

3. Knowledge of Accounting and Financial Standards

• Accounting Principles: Understanding of accounting standards, such as Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS), depending on the organization.
• Compliance: Ensuring that the organization’s financial activities adhere to legal, regulatory, and internal compliance standards, including tax laws and industry regulations.
• Tax Preparation and Filing: Overseeing the preparation and filing of tax returns, ensuring compliance with local, state, and national tax requirements.

4. Attention to Detail

• Accuracy: Ensuring the accuracy of financial records, reports, and documentation. This involves reviewing transactions, reconciling accounts, and ensuring financial entries are correct.
• Financial Control: Implementing processes and controls to prevent financial errors or fraud, ensuring the integrity of the organization’s finances.

5. Communication Skills

• Report Presentation: Presenting financial data clearly and concisely to senior management, stakeholders, or external auditors.
• Collaboration: Working closely with other departments (such as HR, procurement, and operations) to ensure that financial data is shared accurately and timely.
• Stakeholder Communication: Communicating financial performance, forecasts, and budgets to internal and external stakeholders in an understandable manner.

6. IT and Software Proficiency

• Financial Software: Proficiency in using financial software and systems (e.g., SAP, QuickBooks, Microsoft Excel) to manage and track financial data, prepare reports, and conduct analysis.
• Data Management: Ensuring that financial data is properly stored and maintained for easy access and retrieval when needed.