CA Monk - Financial Controller

Qualifications:

- Qualified Chartered Accountant (CA)

- Master's degree in Finance, Accounting, or a related field (e.g., MBA Finance) is highly preferred.

Experience:

- Minimum 4-5 years of relevant experience in a similar role, preferably within the hospitality industry.

Compensation: - CTC: 30-32 LPA (Subject to negotiation)

Job Summary:

The Unit Finance Controller is a key leadership position responsible for overseeing all financial operations of the hotel unit. This role involves managing financial planning, analysis, reporting, and control functions to ensure the financial health and stability of the property. The Finance Controller will work closely with the hotel management team to provide strategic financial guidance and support decision-making.

Responsibilities:

Financial Management:

- Manage the overall financial operations of the hotel, including budgeting, forecasting, financial reporting, and cash flow management.

- Develop and implement financial policies, procedures, and internal controls to safeguard hotel assets and ensure compliance with regulatory requirements and company standards.

- Oversee the preparation and analysis of monthly, quarterly, and annual financial statements, including income statements, balance sheets, and cash flow statements.

- Monitor and manage the hotel's working capital, including accounts receivable, accounts payable, and inventory.

- Ensure accurate and timely processing of all financial transactions.

Financial Analysis:

- Conduct in-depth financial analysis to identify trends, opportunities, and areas for improvement.

- Prepare and present financial reports and analysis to hotel management, regional finance teams, and owners.

- Analyse financial data to provide insights and recommendations that support strategic decision-making.

- Evaluate the financial impact of proposed business initiatives, investments, and operational changes.

- Perform variance analysis to explain differences between actual performance and budget/forecast.

Budgeting and Forecasting:

- Develop annual budgets and periodic forecasts in collaboration with department heads.

- Monitor actual performance against budget and provide explanations for variances.

- Work with department managers to ensure accurate and timely budget preparation.

- Prepare and present budget proposals to senior management.

Financial Reporting:

- Prepare timely and accurate financial statements, including income statements, balance sheets, and cash flow statements.

- Ensure compliance with accounting standards (e.g., Indian Accounting Standards) and regulatory requirements.

- Coordinate the preparation of reports for internal and external stakeholders.

Internal Controls:

- Implement and maintain effective internal control procedures to safeguard hotel assets and ensure compliance with financial policies and procedures.

- Ensure that all financial transactions are properly authorised, recorded, and reconciled.

- Monitor and enforce compliance with company policies and procedures.

- Identify and mitigate financial risks.

Audit Management:

- Coordinate internal and external audits, ensuring the timely completion of audit processes and addressing any findings or recommendations.

- Prepare schedules and documentation for auditors.

- Implement audit recommendations to improve internal controls and financial reporting.

Cost Control:

- Monitor and analyse expenses to identify cost-saving opportunities and implement strategies to control costs without compromising service quality.

- Work with department heads to manage and control expenses.

- Analyse cost of sales and other operating expenses.

Treasury Management:

- Oversee cash flow management, including cash forecasting, working capital management, and banking relationships.

- Optimise cash utilisation and ensure adequate liquidity for daily operations.

- Manage bank accounts and reconcile bank statements.

Tax Compliance:

- Ensure compliance with all applicable tax laws and regulations (e.g., GST, income tax).

- Coordinate with external tax advisors, prepare tax returns, and manage tax audits.

- Stay updated on changes in tax laws and regulations.

Team Leadership:

- Provide leadership and guidance to the finance team, fostering a culture of accountability, professionalism, and continuous improvement.

- Recruit, train, supervise, and evaluate finance staff.

- Conduct performance evaluations, identify training needs, and mentor team members.

- Promote a positive and collaborative work environment.

Skills and Competencies:

- Strong knowledge of accounting principles, financial analysis techniques, and regulatory compliance.

- Excellent analytical and problem-solving skills, with the ability to interpret complex financial data and provide meaningful insights.

- Proficiency in financial management software and systems (e.g., ERP systems, hotel property management systems).

- Advanced Excel skills and proficiency in other MS Office applications.

- Strong attention to detail and accuracy, with the ability to work under tight deadlines.

- Excellent communication and interpersonal skills, with the ability to collaborate effectively with cross-functional teams.

- Strong leadership and team management abilities.

- High ethical standards and integrity in handling confidential financial information.

- Knowledge of the hotel industry and its specific financial challenges and opportunities is highly desirable.