The Chief Financial Officer is to provide overall direction for the financial operations of the company, create and implement corporate financial policies, procedures, and structures within the boundaries established by GAAP and the Board of Directors.
The successful candidate will be responsible for the direction of the following functions: Finance, accounting, risk management, project controls and information technology.
Key Roles and Responsibilities
- Planning: Preparation of annual financial plan with key objective for all cost centers of the hotel.
- Finance: Arrange and review external financing and ensure reports are forwarded as specified in the agreements. Management of internal finances by regular cash-flow, projections, business plans, petty cash reimbursements, control of debt collection, creditor’s payment as well as tax forecasting and payment.
- Audits: Co-ordinate with external auditors for completion of statutory audits at the end of each fiscal year and submit the necessary legal returns and ensures any follow-up and implementation of audit recommendations.
- Management and Administration: Ensure accurate, up-to-date accounting reports are produced as per policy.
- Internal Controls: Ensure efficient and effective financial management and controls within the hotel. By personal spot checks, regularly review all internal controls and system and ensure they are updated, upgraded and implemented.
- Legal Documents: Ensure proper review of all insurance policies and premiums. Ensure compliance with the laws pertaining to licenses within Kenya and the safe custody of the original documents thereof.
- Assets: Ensure proper compilation and maintenance of an accurate assets register for the hotel. Ensure all assets are recorded on procurement, correctly depreciated and properly disposed as and when necessary.
- Operating Equipment: Advise on the most appropriate equipment (e.g. computers, calculators, cash registers etc.) within the Finance department for efficient and optimum operations.
- Personnel Management: Participation in the recruitment of the right caliber of personnel to efficiently operate the finance department and ensure proper supervision, effective motivation, proper discipline and continuous training.
- General: Assist the General Manager and/or Director in any other duties relating to the hotel that may be assigned from time to time.
Skills and Qualifications
- Bachelor or Master’s Degree in Finance, Accounting or Business Administration
- Professional Accountant Qualification in ACCA/ACA/ CPA-K
- At least 10 years of senior level experience preferably in the hospitality industry
- Accounting and Financial Principles – Knowledge of generally accepted accounting principles and their proper application to hotels and general business transactions.
- Knowledge of database and accounting computer application systems to supply the most accurate financial information.
- Ability to establish and maintain strong banking, insurance, and supplier relationships in an effort to provide the company with the most effective and least costly services.
- Must possess excellent leadership skills with the ability to effectively manage subordinate executives and managers in various roles and responsibilities.
- Possess excellent verbal and written communication skills.
- Must have sharp business acumen with a firm understanding of critical success factors for operating a profitable, growing and highly complex five star hotel.