• Develop and pressure test the Annual Budget for the Business Plan per the Business Planning Process consistent with the asset’s goals and assist President in writing and organizing the Business Plan, owner/investor presentations and any additional supporting schedules and analyses.
• Develop relevant assumptions and financial forecasts of volume for long-term business planning as well as operational planning and efficiency. Monitors accuracy of forecasts and recommends changes and methodologies to increase accuracy.
• Prepare financial statements Balance Sheet, Income Statement, Cash Flow Statement, and consolidated statements to ensure accurate, timely and relevent information is available for management.
• Conduct formal financial meetings (at least monthly) with each divisional leader and company executives.
• Assist external CPA firm with preparation of tax return and financial statements as required by ownership and/or lenders.
• Review monthly A/R and A/P aging, work papers, payroll, and cash reconciliations to ensure accuracy and relevancy.
• Analyze and reconcile all general ledger accounts and bank statements to ensure financial information is available and accurate.
• Provide critical/relevant Operational Analysis for the Property including but not limited to: Revenue reconciliations, Product performance by market, Labor Management, Cost of Goods Sold, Cost-Volume profit analysis, competitive analyses (industry and intercompany), Troubled Asset Plan and monitoring, Event/Holiday performance, analysis to last year, budget, and flex budget.
• Provide guidance through knowledge of the Company Policies, Procedures, Processes, Internal Controls and SOPs for the systems used in the identification, collection, maintenance, and retrieval of data useful for effective decision making. The emphasis will be on the provision of “useful” data vs just raw report generation. (Systems include point-of-sale, inventory control systems, internal dashboards, time & attendance, and production tools.)
• Perform Impact Analysis for proposed changes to the Business Plan including new revenue streams, changes to Operating Plans, and efficiency initiatives.
• Review compliance/accuracy with operating procedures, including appropriate utilization of systems that provide data used for financial reporting and decision making. Primary inputs include cash handling, credit review and approval, income journal accuracy, inventories for hotel and food & beverage items, accurate time and attendance records, and purchases in accord with business plan and forecast.
• Attend month-end performance management meetings with Divisions to diagnose any variances to plan and forecast and create an Action Plan as necessary to mitigate.
• Train, monitor and coordinate the implementation and maintenance of financial and cash controls and information flow throughout PHR Managed Assets to ensure compliance, accurate records and minimize liabilities, losses, and expenses.
• Conduct process audits for Inventory.
• Monitor departmental checkbooks as maintained by =management to ensure compliance with forecast and proper coding.
• Prepare quarterly and year end reporting as it pertains to internal and external audits as well as required debt covenants, brand related requirements, and real and personal property tax filings.
• Oversee compliance with industry-specific regulations, including those from the including collaborating with legal team to ensure compliance with licensing and reporting requirements for all operations.