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Job Number 18000OT2
Job Category Finance and Accounting
Location Asia/Pacif/Australia Region, Hong Kong, Hong Kong VIEW ON MAP
Position Type Non-Management/Hourly
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The Associate, Compliance is responsible to support the monitoring, consolidation and reporting of key contractual milestones and obligations for the continent’s owned/leased, managed and franchised properties. The Associate uses strong analytical skills and finance knowledge to constantly monitor business and competitive trends in various countries and markets in the Asia Pacific division to identify opportunities and threats to business goals. S/He develops early warning systems to preempt or proactively inform and prompt the continent finance business leadership team to address non-compliant hotels.
· Experience with reading and understanding contractual agreements, and evaluating legal and business issues;
· Strong system skills and process thinking;
· Excellent Excel and PowerPoint skills are essential;
· Thorough knowledge of the principles, procedures, and techniques of accounting, and of financial records and transactions including, but not limited to, generally accepted accounting principles;
· Detail-minded and ability to handle massive data and analyze contractual and financial information effectively;
· Resourceful in resolving issues and solving problems, leveraging resources to get results;
· Creates an atmosphere in which timely information flows smoothly both upward and downward through the organization; possesses exceptional communication and presentation skills;
· Supports, manages and initiates change within the organization, taking steps to remove barriers or to accelerate its pace;
· Actively pursues learning and self-development to enhance personal, professional and business growth; shares learning;
· Ability to work independently and take initiative; strong time management skills;
· Strong interpersonal skills;
· Strong problem-solving skills; encourages new innovative solutions when appropriate; and
· Strong verbal and written communications skills.
· Bachelor's degree in accounting, finance or a related field; successful completion of intermediate accounting required;
· Minimum of 2 years financial management experience; hotel finance and accounting experience preferred; and
· Fluency in English, and ability to speak Chinese and read/write Chinese is a plus.
Assist in the day to day running of the Marketing
· Acts as a “safety-net” to ensure property leadership complies with contracts in a timely and accurate manner, meeting contractual due dates regarding Owner reporting, quarterly/annual certifications, and approval process;
· Supports the reporting tracking tools to ensure compliance with critical contractual key milestones for managed and franchised hotels such as fee changes, stand-aside and waterfall calculation, marketing fund contributions, contractual guarantees and securities, owner priorities, expirations, contract renewals, withholding tax (WHT), tax gross-up requirements, annual statements, preopening and training budget, market share competitive set determination and changes, etc.;
· Collaborate with area/regional/continent leadership on opportunities to improve the tracking and follow-up for any contract compliance discrepancies; makes recommendations regarding specific areas of concern. Ensures consistent treatment and resolution of issues;
· Supports the property Directors of Finance (DOF), Area Directors of Finance (ADOF), Financial Contractual Compliance (FCC), and reporting groups to consolidate, review and monitor property performance tests for the continent:
o Quarterly – Collect performance test submission, consolidate results; verify operating profit calculation, RevPAR Index and comp set against each management agreement. Cross check with FCC team and report discrepancies.
o Annually – Responsible to certify performance test for all hotels in Asia Pacific Region. Coordinates with hotel finance leaders to conduct a thorough review of operating profit calculation and/or RevPAR Index result for the full fiscal year, and management agreement verbiage for each property. Coordinate and report discrepancies to FCC team.
· Coordinates quarterly A&L reconciliations certification for all hotels, consolidate exceptions, analyze and correct discrepancies to prepare final report for continent and Corporate HQ review;
· Supports property DOF on fee/royalty calculations and key definitions are accurately interpreted as outlined in the management agreement;
· Supports the Management Agreement Synopsis (MAS) tool maintenance, contract terminations summary reports and annual updates. Key liaison for the continent’s support for Law Manager tool and he/she will assist the continent and legal department to maintain accurate and timely updates on owner and owner contract related matters in Law Manager;
· Participates in training provided by appropriate MI Corporate Departments as required. S/He will participate in the continent’s training efforts on contract compliance matters while fostering sharing of best practices;
· Supports the Continent’s A/R analytical process to resolve invoice discrepancies and monitor cashflow;
· Support the coordination of Shared Service arrangement process by facilitating stakeholders on Area, Continent and Corporate levels regarding new business cases, and allocation methodologies for approval. Conducts annual recertification of existing Shared Service arrangements including renewal of agreements, cluster budgets and updating the contract repository;
· Supports the Senior Manager to deliver training to continent DOF with related compliance matters, such as QuickBase training for compliance applications and contract compliance related policies; and
· Advises on ad hoc requests.