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Director of Finance

Lake Como, Italy

Director of Finance

  • Lake Como
  • Accounting & Finance Division
  • Full time

Key duties and responsibilities

  • Assists and provides financial guidance in the formulation and implementation of Business Plan, Budget, 5 Year Plan, 5 Year Capital Plan.
  • Ensure that an up-to-date cash flow projection is maintained maximizing cash flow performance of the hotel through control on inventory, credit and collection, disbursements, deposits, and remittances.
  • Ensure excess cash is managed to maximize earning potential.
  • Prepare forecasts for forthcoming months. Owner of forecast model responsibility in Hyperion.
  • Prepare monthly closing of actual results against budget, analyze results, and recommend to Executive Committee measures required to meet budget.  Hold monthly meetings with General Manager and Department Heads to discuss results and forecast, either in group forum or individual meetings.
  • Ensures the circulation / distribution of forecast information as an up-to-date management tool for operating departments.  Key distribution information includes P&L Forecast, Department GL, and Staffing Guide.
  • Prepares monthly Report for actual capex spend and in conjunction with Chief Engineer prepares forecast capex until end of year.
  • Implement and review financial controls and policies.
  • Analyze financial and management reports.
  • Evaluate existing internal control measures that apply to accounting procedures and computer systems as per MO Policies and Procedures.
  • Manage internal and external audits when they occur.
  • Provides administrative support to Management with reference to policy enforcement, business advice and operational assistance.
  • Provides safekeeping, including proper storage and access for all contracts, leases, and other financial records.
  • Follows up on all capital expenditures to ensure compliance with original justification and approval.
  • Attend and contribute to Weekly Revenue Meeting discussions with a focus on identifying opportunities and risks in Rooms, Conference & Banqueting and other revenues, to drive revenue growth.
  • Contribute to business decisions of the hotel regarding revenue generation, hotel expenditure and investment
  • Conducts inspections and tests to ensure all departments are complying with required procedures
  • Implements and maintains acceptable accounting / control practices and procedures as required by MOHG Policy, generally accepted accounting practices, and as affected by local conditions or specific hotel needs
  • Ensure all balance sheet and expense accounts are reconciled on monthly basis, review and approve those reconciliations.
  • To direct, manage and support the development, implementation, maintenance and administration if all financial controls and accounting procedures, based upon a maximization of internal control techniques consistent with Group corporate management established policy and generally accepted accounting principles, as adapted to the requirements of the hotel’s management contract and other local legal requirements.
  • To play an active role in the management of the hotel and to exercise a responsive attitude to the needs of the General Manager and other members of the hotel management team.
  • To ensure compliance to terms and conditions of the hotel’s management contract, company’s responsibilities and bringing any discrepancies to the immediate attention of the General Manager.
  • To be actively involved in the search for opportunities to improve the profitability of the hotel and encourage the preparation of exception reports and analysis.
  • To encourage colleagues’ development and evaluation programs for all subordinate staff to ensure the highest level of professional competence and efficient continuity within those positions.
  • To organize an efficient treasury function to provide proper management of the hotel’s working capital and cash flow in accordance with management minimum guidelines and within the requirements of the hotel’s management contract.
  • To be responsible for the efficient operation and maintenance of the hotel’s computerized data processing function within the Group corporate management established guidelines.
  • To ensure all financial reports, budget, forecast, and other information required by Group corporate management are accurately compiled and submitted within the specified deadlines, identifying variances and making recommendations for improvements as appropriate.
  • To personally review forecasts and budgets prepared by hotel management to ensure the General manager and Group corporate management are kept fully apprised of any implications which may affect the performance of the hotel in meeting its financial objectives.
  • To ensure adequate controls are installed and maintained for the protection of the hotel’s assets against loss or misappropriation.
  • To ensure adequate insurance coverage is guaranteed to protect the assets of the hotel.
  • Assume full responsibility for the proper control of all cash funds and other assets for subordinates.
  • To establish a comprehensive credit and collection policy for the hotel based on good industry practice and within the guidelines provided by Group corporate management.

Key Requirements:

  • University Degree – Master’s Degree desirable
  • Minimum 5 years of experience in a similar position within the Hospitality Industry.  
  • Excellent written and spoken English and Italian.
  • Excellent Communication skills at all levels.
  • Excellent team-working skills
  • Ability to take decisions. ambition and curiosity.

Key Relationship:    

  • General Manager – Owner / Asset Manager
  • Hotel Executives / Department Heads
  • Corporate Office
  • Internal and External Legal Counsel
  • Suppliers / Potential Suppliers
  • Internal and External Auditors

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