Area Director of Finance, Luxury West
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Job Number 18000OZX
Job Category Finance and Accounting
Location Europe Office - London, London, Greater London VIEW ON MAP
Position Type Management
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- Location requirements: The Area Director of Finance Luxury West to be located at the London office.
- Language Requirements: High proficiency (speaking, reading and writing) in English, it is preferable to have second European language.
- Travel Requirements: There is a 80% business travel required, which means usually only one day a week is spent in the office.
- High owner involvement and supporting our JV partners.
- Increasing competition in the marketplace.
- Manage capital spending to ensure increase in market share.
- Support on-going property renovations.
- Manage risk exposure and protect owner & MI investment.
- 80% of time is spent traveling, usually only one day a week is spent in the office.
- Based in London office.
- Financial Business Leadership
- Financial and Accounting Management
- Human Resources
- Owner Relations
Facilitate the business planning processes (LRP, operating and capital budgets, forecast, risk assessment), standard reporting processes (working capital, month end reporting, annual statement of operations, etc.), and compliance with local tax, financial, accounting regulations, and management agreements.
- Provide direction and support to ensure compliance on balance sheet analysis/certification, hotel audits and internal control standards, P&L reviews, cash flow forecasts, technical accounting, financial systems and reporting, and financial analysis (pro forma, project analysis, business cases, etc.).
- Lead the execution of finance and accounting responsibilities across multiple sovereign jurisdictions and in different currencies, including: budgeting and forecasting, controls, financial analysis, cash management, balance sheet, financial reporting and systems, P&L, CAPEX, owner returns, financial risk management.
- Executes strategies and actions to increase return on invested capital. Leads and facilitates the management of cash flow, capital, and overall expenses to obtain highest value.
- Identify risk exposure and effectively leverages the organization (Continent team, Global Asset Management team, Corporate, etc.) as appropriate to manage business and financial risk to create and preserve value.
- Manages MI's presence in the different sovereign jurisdictions, including JV, entity structure, tax planning and compliance, continent international business structure, property based financial systems, shared services, and other line of businesses, i.e. cluster sales organizations, MVW, Residences and casinos.
- Assist CFO RC and VP Business Operations Finance in development activity in the designated countries (e.g. identify market opportunities and formulate plans, monitor and modify pro-formas, lend financial strategic support to optimize growth, etc.).
- Work with CFO RC and VP Business Operations Finance and the property team to develop pre-opening and working capital budgets and other pre-opening activities relating to finance and accounting.
- Ensure full understanding of Marriott Owned/Leased Hotels, ensure any P&L risks are proactively managed and identified. At hotel level proper processes are in-place to ensure fixed assets are being appropriately retired as per disposition/depreciation schedule.
- Support franchise partners to develop understanding of franchise agreements, reporting requirements and ensure timely collection of outstanding fees and reimbursables that are due.
- Is a strategic business partner to the AVP and Regional/Area Team by providing financial leadership and strategic perspective in developing and monitoring business plans to achieve profit and growth objectives.
- Implement appropriate metrics and controls to manage business risks. Ensure strong accounting and operational control environment to safeguard assets, improve operations, profitability, and ROIC.
- Ensure strong owner relationships in the designated countries by understanding the owners' perspectives & ROI expectations, proactively anticipating and addressing needs, and managing an effective balance between the owner's and MI's interests by developing solutions that create value for both.
- Attract and develops diverse, high-caliber talent that makes a strong positive impact on the organization. Partner with CFO RC, AVP and VP Business Operations Finance to develop strategies for succession planning and career development.
- Deliver financial training to hotel teams to comply with Marriott International policies and procedures (e.g. training on how to read P&Ls).
- Use technical expertise and understanding of global and local economy, laws, regulations, and tax issues and their potential business impact to devise strategies to manage financial risk and grow the business.
- Understand how hotel operation systems and financial systems interface to increase productivity.
- Utilize Marriott Global Source to stay updated on company information as well as an information resource.
- Perform management agreement synopsis annually and ensure incentive fees are updated and notifications are sent out.
- Monitor property financial reporting for accuracy, timing, and contents.
- Advise General Managers, Hotel DOFs, Corporate, Owners, Continent Team members on business issues, challenges & opportunities, and performance.
- Take a proactive role during individual and property visits providing trouble shooting for respective property costs, internal controls, revenue opportunities, brand standards, balance score card, etc.
- Effectively communicate with hotel DOFs (e.g. benchmarking results, sharing best practices, and use of technology).
- Pursue initiative and innovation to improve overall companies systems, processes, and industry competitiveness.
- Perform other duties as assigned to meet business needs.
- Support all hotel brands in the Area.
10 years progressive financial management experience with at least 2 years in the field, Lodging/hospitality knowledge preferred
Demonstrated leadership ability
Excellent verbal, writing, listening, and presentation skills
Experience working in an international environment and with International SOPs and MIPs
Excellent finance, accounting, and analytical skills, including experience with cash management, forecasting, revenue management strategies, capital expenditure planning and budgeting, and project management
Experience evaluating business trends, and developing and successfully implementing new business programs and strategies that enhance financial performance in a complex multidimensional operating environment
Experience in owner relations is required and understanding of joint venture relationship is preferred.
Previous responsibility for multi-site properties and geographical past knowledge
Knowledge of legal contracts and management agreements
Knowledge of internal controls
Effective understanding of Marriott Headquarter processes and be able to work with diverse entity, tax and legal teams.
Effective in developing relationships
Experience with complex operating and financial agreements; demonstrated success in evaluating risks and developing proactive strategies and plans to mitigate business issues
Ability to interpret objectively property management agreements and the cash flow distribution
Knowledge of hotel systems; use of systems and for purchasing decisions, how systems help the company
Knowledge of the tools Marriott provides for forecasting, budgeting, etc.
Interpersonal relationship skills for LPPs, manpower planning, hotel visits, decision making, etc.
Supporting and supervising DOFs across various countries with different languages
Bachelor’s degree in Accounting or Finance or equivalent required
MBA or equivalent preferred
CPA or equivalent preferred
Marriott International is an equal opportunity employer committed to hiring a diverse workforce and sustaining an inclusive culture. Marriott International does not discriminate on the basis of disability, veteran status or any other basis protected under federal, state or local laws.