Hotel Financial Controller (FC) Job Description, Duties And Responsibility

Hotel Financial Controller: Role, Responsibilities, and Qualifications

As a Hotel Financial Controller (FC), or Director of Finance, your primary responsibility is to supervise and manage all financial operations of the hotel. You will be responsible for creating and implementing financial policies and procedures that ensure the hotel operates efficiently and profitably.

This role involves overseeing the budgeting and forecasting process, analyzing financial statements, and producing regular reports that provide insight into the hotel’s financial performance. You will also manage cash flow, monitor costs, ensure compliance with all financial regulations, and lead a team of finance professionals.

The Financial Controller manages the daily operations of the accounting department, including the preparation and management of the hotel’s financial budget. This includes financial analysis, reporting, budgeting, forecasting, auditing, asset reconciliation, and cash control, all while ensuring compliance with local tax laws and hotel standards.

Duties and Responsibilities

Manage the overall financial and accounting requirements of the property.
Represent the Finance Department during daily HOD (Head of Department) meetings.
Ensure the hotel is in compliance with all local tax authorities.
Support the General Manager in meeting the organization’s strategic objectives.
Prepare and review the annual budget, monthly forecasts, and operational results.
Verify all financial statements and ensure all transactions are accurate and comply with local government regulations.
Work closely with hotel owners or the organization’s managing director.
Prepare and submit management reports accurately and within time deadlines.
Implement all accounting policies and procedures effectively.
Ensure a strong accounting and operational control environment to protect hotel assets.
Proactively assist with cost control requirements and identify opportunities for revenue and profit enhancement.
Develop specific goals and plans to prioritize, manage, and complete work.
Build and lead an efficient and professional team in the Finance and Accounting department.
Monitor all applicable local tax compliance, ensuring taxes are charged, collected, and submitted correctly.
Monitor hotel operational costs, profitability, and manage business risk.
Ensure that profit and loss statements are accurately documented.
Oversee the internal, external, and regulatory audit processes.
Hold regular weekly finance department meetings.
Provide excellent leadership, foster teamwork, and openly recognize the contributions of team members.
Build and maintain open and collaborative relationships with employees.
Participate in the employee performance appraisal process, providing feedback as needed.
Ensure disciplinary procedures and documentation are completed in accordance with hotel standards.
Perform any other tasks as and when required by management.

Position Details and Qualifications

Position Title: Financial Controller / Director of Finance

Reports to: Hotel General Manager / Managing Director

Prerequisites

Must have a high command of MS applications such as Excel, PowerPoint, etc.
Knowledge of back-office accounting systems (e.g., Sun, SAP, Sage, Freshbooks).
Knowledge of hotel software or Property Management Systems (e.g., Fidelio, Opera, Protel).
Excellent communication and negotiation skills.
Fluent in English, both oral and written.
Strong financial/business decision-making, analytical, and organizational skills.

Education

A qualified Chartered Accountant (CA) or a similar 4-year bachelor’s degree in Finance, Accounting, or a related major.

Experience

At least 5 to 10 years of financial and management experience with daily financial operations, preferably in a 4 or 5-star hospitality environment.

Sample Interview Questions

Can you describe your experience in financial management, especially in the hotel or hospitality industry?
How do you oversee a hotel’s financial operations, including budgeting, forecasting, and financial reporting?
Can you share examples of successful financial initiatives or cost-saving actions you implemented in a previous hotel controller role?
How do you ensure compliance with regulations and financial standards in the hotel industry, and what actions do you take to mitigate financial risk?
Have you played a role in implementing or improving financial systems in a hotel? How do you use technology for efficient financial management?
How do you collaborate with other hotel departments, such as operations and sales, to align financial goals with the overall business?
What strategies do you use to monitor and optimize income flow, and how do you analyze financial data to guide decision-making?
How do you handle financial audits, both internal and external, and what steps do you take to ensure accurate and transparent financial reporting?

Salary for Hotel Financial Controller (FC)

Salaries for Hotel Financial Controllers can vary based on factors such as location, the size and prestige of the hotel, and the candidate’s experience. In January 2024, the average salary for a hotel financial controller in the United States ranged from $80,000 to $120,000 per year.

It is important to note that this salary range can change. It is advisable to examine current salary trends using industry reports, salary surveys, and job boards specific to your region and the hotel sector. Consulting with local HR professionals can also provide insight into the current compensation landscape.

Overall, the role of a Hotel Financial Controller is a challenging and rewarding one that requires a unique combination of financial expertise, leadership skills, and strategic thinking. If you have a passion for finance and a desire to make a real difference in the hospitality industry, this can be the perfect role for you.