Finance Manager (Hospitality Industry) - Based in Kajang

Company Background

We are representing our client, a new resort located atop the hills of Sg. Long, Kajang, which is launching in mid-June 2024. Currently they are in a midst of looking for a Finance Manager to oversee the finance and procurement department.

• Location: Sungai Long, Kajang
• Working hours: Mon-Fri (8:30am-5:30pm)
• Reports to Operation Manager

Job Summary

To be responsible for all accounting and financial requirements for the Hotel in an environment of tight control. Providing financial support, advice and expertise to the CEO, Hotel Manager and hotel team, with the aim of maximising value. To develop the quality of the finance function within the Hotel.

Responsibilities

Financial Accounting Process

• Overall management of the accounting records and financial reports of the hotel ensuring compliance with company, owner, statutory and fiscal requirements, and timetables.
• Where applicable the above must include the accounts for the Hotel’s affiliated companies.
• Ensure that the balance sheet is a fair reflection of the assets and liabilities of the hotel. The balance sheet must be regularly reviewed and reconciliation is performed on all accounts.
• Maintain a focused system of internal controls, which will provide an effective and efficient control over the hotel assets, liabilities, revenue and costs. Ensure compliance with company policy.
• Ensure legal and tax compliance and that adequate insurance cover is maintained.
• Ensure proper permits and licenses have been obtained for such matters as importation, currency transfers and hotel operations (bars, lobby music, etc.). Take responsibility for the safekeeping and updating of all leases and contracts, which may affect the financial status of the hotel.
• Liaise and co-operate with both Internal and External Audit. Ensure that an effective programmed of in-hotel audit is in place and that corrective action is promptly taken where required. Give particular emphasis to ensuring that all revenue is captured. Make use of a monthly control checklist if necessary.
• Develop best practice financial accounting and control procedures. Financial reporting and control to be an area of continuous review and development with the aim of maximizing both impact and efficiency.

Management Reporting and Business Support

• Implement reporting that incorporates benchmarking, identification and measurement of key performance indicators. Reporting should not only look to historical performance within the hotel, but also outwards and forwards.
• Support and advice on financial and commercial matters to the CEO, General Manager and to the hotel team, including the interpretation of financial data.
• Review management information for the hotel and make proposals for the CEO, General Manager for value added initiatives. Where appropriate, play the “Devil’s Advocate” to challenge practices and proposals.
• Provide financial and commercial skills to support business development initiatives, major pricing decisions and other commercial decision making.

Financial Budget and Forecasting

• Take a support role to the General Manager in hotel strategic planning. Particular emphasis on Master-Planning and “thinking outside the box” to identify value opportunities.
• Manage the formulation, review and approval process for budgeting within the hotel.
• Ensure a regular cycle of forecasting takes place within the hotel with content and detail appropriate to the needs of the operation.

Staff Retention and Performance

• Recruit and retain the best people for the job. Make use of succession planning to develop and replace individuals effectively. Establish and maintain good employee relations within the Finance Department. 
• Aim to maximise efficiency in the accounting department. We should aim for optimum staffing levels. Recognise that a highly organised Finance Office is often a sign of an efficient department.
• Develop the effectiveness of the hotel finance function through the ongoing training and development of the team. Lead and motivate the team to high levels of performance.
• Ensure you manage specific measurable objectives. Give regular feedback including appraisals.
• Provide training to enhance the financial skills of the Management Team as a whole.
• Minimise the level of working capital, with particular emphasis on the management of debtors, stocks and sundry receivables. Maximise interest earnings and minimise interest expense.

Cashflow and Bank Reconciliation

• Maintain accurate cashflow forecasts and ensure adequate notice is given to CEO of any future cash requirements.
• Ensure full reconciliation of all bank accounts on a monthly basis. The highest standards of control must be maintained over all cash and bank balances at all times.

Cost Management

• Understand and measure cost drivers for the hotel. Utilise innovative analysis to stimulate thought and management action.
• Ensure that adequate purchasing procedures are in operation so that purchases of goods and services are made in the most cost-effective manner.
• Identify cost reduction opportunities. Manage financial risks of the business.

Purchasing & Store

• Manage and supervise the Procurement Department and ensure that departmental objectives are met.
• Plan, evaluate and formulate procedures in maintaining par stock levels of food and beverage items, operating equipment and the recurring operating supplies for the Hotel.
• Negotiate excellent pricing and terms with the vendors/suppliers and and determine that quality and prices of merchandise are competitive.
• Approve the addition or deletion of products after consultation with the CEO and General Manager.
• Maintain and update pricing database of all Food and Beverage items. Purchase record are used to keep track of pricing trends.
• Process purchase requisitions received from the various departments expeditiously and obtain pricing and quotes from vendors/suppliers. Have the purchase request approved by the CEO and General Manager prior to issuance of Purchase Order.
• Purchase order is required for all non-food and beverage items (except small items purchased form petty cash).
• Competitive quotations are received and retained on file from vendors on all food, staples, meat, vegetable purchases and beverage purchases.
• Update records of all suppliers and their products. Update the suppliers listing at least once a year. This includes suppliers’ name, address, contact person, telephone or fax number and key or major product lines being supplied to the hotel.
• Cross train purchasing staff on various purchasing function to ensure they are capable of running the department when their colleague is on leave or is not available.

Perform special jobs and projects that may be assigned by the CEO or General Manager from time to time. Perform other related duties appropriate to status from time to time.

Requirements

• Minimum Diploma/Degree in Accounting/Finance/Business Admin.
• Minimum 5 years working experience in Finance & Accounting, preferably from the hospitality industry.
• Must be willing to work in Sg. Long, Kajang.