Director of Finance

Company: Crescent Hotels & Resorts
Location: New York
Posted on: April 2, 2025

Job Description:

The stunning NoMo SoHo is seeking a Director of Finance to join the team. This role will provide ethical and consistent leadership by supplying management with guidance, training and support, and focus on the profitability of the business by accurate and timely financial reporting, ensuring acceptable levels of internal controls, ensuring compliance with all federal, state, and local regulations, and safeguarding owners/investors assets.Tucked away at 9 Crosby, NoMo is a hidden gem just steps from the excitement that the streets of New York have to offer. Inspired by the neighborhood, NoMo represents an intrigue for the nostalgic + modern. Our building is a curated collection of vintage and contemporary art, illustrating the eclectic mix of those who made SoHo what it is today.At Crescent Hotels & Resorts, we are a team of hospitality professionals that are deeply connected to & proud of the exceptional experiences we provide for our guests. More than that, we know our Associates are the shining stars of what we do!We understand what it takes to be a part of something great. We will encourage you to bring your true self to work every day, we will celebrate you and we will cheer you on as you shine bright in your career journey. Whether it be our health & wellness programs, best in class learning and development or our travel discounts that 'feed your inner explorer', we work hard to create and deliver on what YOU need. We are ready for you to start your journey with us where You Belong. We Care. Shine Bright.We are committed to providing you with:

• Highly competitive wages of $130,000 annually
• An exceptional benefit plan for eligible associates & your family members
• 401K matching program
• Discounts with our Crescent managed properties in North America for you & your family membersESSENTIAL JOB FUNCTIONS:
  • Acts as the "Chief Business Officer" to the general manager and EC Team, and as such is responsible for evaluating the financial impact on business decisions.
  • Ensure that all levels of management are promptly notified of any financial deviations from established policies and/or control weaknesses in the hotel.
  • Effectively manage and communicate cash flow related issues, as required to management and ownership. This includes the accurate and timely preparation of cash-flow statements, management of receivables, cash balances, control mechanisms and timely deposits of all funds.
  • Monitor hotel revenues and expenses and ensure the accurate recording in accordance with Crescent Hotels and Resorts established guidelines. Investigate and critique variances to budget or to prior year and offer practical improvement strategies to management.
  • Monitor the capital planning process by assisting management with calculation of return on capital improvements, gathering support and monitoring the bid process, and evaluating scope of work and specifications.
  • 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.
  • Coordinate the completion of all forecasts and budgets as required, with the full and active participation of EC Team and department managers.
  • Analyze financial data and operations in order to assist and advise management in maintaining the hotels' financial objectives.
  • Ensure that all balance sheet accounts, including bank reconciliations are reconciled on a timely basis.
  • Establish and continually audit all internal financial controls including purchasing, cash handling, disbursements, credit extension, inventories, hotel assets, master keys, payroll, and employee records.
  • Embrace a continuous growth environment by actively hiring professional staff and assisting in recruiting, reviewing, recommending and maintaining an inventory of qualified and promotable Associates that can potentially become Controllers, Assistant Controllers, Accounting Managers, and other managers for the organization.
  • Continually focus on training and development programs for finance associates to cultivate the "brightest" and "best" talent within the industry.
  • Hire, train, supervise and develop staff, including coaching, counseling and discipline.
  • Maintain compliance with Crescent Hotels and Resorts standards and regulations to ensure safe and efficient operation of the hotel.
  • Ensure proper utilization, maintenance and periodic upgrades of all IT systems and equipment's.
  • Direct and/or prepare all financial reports in accordance with IHR requirements meeting various due dates and deadlines:Daily:
    • Review and submit a Daily Revenue Report.
    • Ensure timely deposit of all cash and transmission of Credit Cards.
    • Review Labor Report for overtime and any variance to Forecast.
    • Review departmental Checkbooks and advise of any needed changes.
    • Distribute and discuss weekly G/L report with department managers.
    • Update GM on any unfavorable financial issues impacting the month.
    • Ensure there is sufficient cash to meet all scheduled obligations.Monthly:
      • Reconcile Balance Sheet with proper back up.
      • Ensure that all banks are counted.
      • Count the main vault.
      • Review "Key Financial Controls" Checklist to ensure adherence and compliance.
      • Review actual numbers to forecast to find discrepancies in forecasting to improve accuracy in future months.
      • Participate in the monthly Credit Meeting.
      • Actively participate, complete and review the forecast with Department Heads prior to submission.Annual:
        • Complete the Internal Control Questionnaire (ICQ) bi-annually.
        • Conduct a surprise payroll audit bi-annually.
        • Actively participate, complete and review the annual budget with Department Heads prior to submission.
        • Prepare all analysis that may be required by ownership and outside accounting firms.
        • Conduct and/or attend and contribute to periodic meetings to maintain favorable working relationships among employees and promote maximum morale, Productivity, and efficiency:
        • Executive Committee Sales & Service Financial Review
        • Departmental Budget & Forecast Credit & Collection Business Review Meeting
        • Ensure and monitor that the hotel is in compliance with all report deadlines and due dates and reacts accordingly.
        • Maximize efforts towards productivity, identify problem areas and assist in finding and implementing their solutions.
        • Approach all encounters with guests and employees in an attentive, friendly, courteous and service-oriented manner.
        • Maintain regular attendance in compliance with Crescent Hotels and Resorts standards, as required by scheduling which will vary according to the needs of the hotel.
        • Maintain high standards of personal appearance and grooming, which include wearing the professional attire and
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Keywords: Crescent Hotels & Resorts, New York , Director of Finance, Executive , New York, New York