Director of Finance
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Key skills for this role
About the Role
Raffles The Palm Dubai is seeking a Director of Finance to lead the hotel's finance function, ensuring sound financial management and operational efficiency. The role involves financial planning, budgeting, reporting, cost control, and team leadership.
Key Skills for This Role
Responsibilities
- Develop and implement the hotel's financial planning and budgeting process
- Monitor and review budget performance regularly, identifying areas for improvement and cost saving opportunities
- Prepare and present accurate and timely financial reports, including income statements, balance sheets, cash flow statements
- Analyse financial data to provide insights into the hotel's performance and make strategic recommendations
- Work closely with the revenue management team to set room rates and optimize revenue
- Implement cost control measures to manage expenses efficiently
- Oversee the financial operation of the hotel
- Coordinate effective and efficient Payroll Management/Resource allocation
- Ensure compliance with all relevant financial regulations, accounting standards, and local tax laws
- Lead and supervise the finance team, including accountants and financial analysts
Requirements
- Degree in Finance, Accounting or a related field & professional accounting qualification
- Minimum 5 years’ experience in a hotel in an Executive role
- Excellent leadership skills with the ability to manage and motivate finance teams
- Strong verbal and written communication skills
- Strong analytical skills with a keen eye for detail and a proactive approach to solving financial issues
- Ability to assess financial risks and implement strategies to mitigate them
Full Job Posting
Company Description
- Raffles Hotels & Resorts is a legendary brand since 1887, curating culturally enriching experiences at distinguished landmark addresses worldwide.
- Raffles The Palm Dubai is a palatial beach resort on Palm Jumeirah, featuring 340 rooms, suites and villas, inspired by European palaces.
Key Responsibilities
- Develop and implement the hotel's financial planning and budgeting process, in alignment with the hotel's strategic goals and objectives.
- Monitor and review budget performance regularly, identifying areas for improvement and cost saving opportunities.
- Prepare and present accurate and timely financial reports, including income statements, balance sheets, cash flow statements, and other financial metrics to the hotel's management and ownership.
- Analyse financial data to provide insights into the hotel's performance and make strategic recommendations for improvement.
- Work closely with the revenue management team to set room rates and optimize revenue through effective pricing strategies.
- Monitor and analyse revenue streams from various hotel operations, such as room revenue, food and beverage, and other ancillary services.
- Implement cost control measures to manage expenses efficiently without compromising on service quality and guest satisfaction.
- Review and approve expenditures, ensuring compliance with budgetary guidelines and procurement procedures.
- Oversee the financial operation of the hotel.
- Co ordinate an effective and efficient Payroll Management/Resource allocation through establishing a flexible work force throughout the Division, based on the principles of multi skilling and multi tasking.
- Ensure compliance with all relevant financial regulations, accounting standards, and local tax laws.
- Coordinate and liaise with external auditors during the hotel's annual audit process.
EXPERIENCE & QUALIFICATIONS
- Degree in Finance, Accounting or a related field & professional accounting qualification
- Minimum 5 years’ experience in a hotel in an Executive role
- Excellent leadership skills with the ability to manage and motivate finance teams.
- Strong verbal and written communication skills to effectively interact with owners, senior management, and other departments.
- Strong analytical skills with a keen eye for detail and a proactive approach to solving financial issues.
- Ability to assess financial risks and implement strategies to mitigate them.
AND ABOVE ALL
- Embrace the Raffles brand promise and luxury in your role and in all your interactions.
- Foster an inclusive environment where every individual feels valued and respected
- Create an environment where colleagues are empowered, supported and recognized
- Drive top performance to achieve exceptional results
Employee Benefits
- Complimentary upgrades, extended stays, discounted stays across Fairmont & Raffles properties, special dining and wellness discounts.
Our Values
- Respect: We value the needs, ideas and individuality of others. We treat everyone with fairness and dignity.
- Excellence: We make genuine connections, and we cherish every opportunity to make the people around us feel special.
- Belonging: We celebrate our differences. We support each other and we always stand together.
- Empowerment: We have authority to take initiative and anticipate moments that create unforgettable experiences.
- Integrity: We build trust through mutual respect and being authentic.
Diversity & Inclusion
- Raffles is committed to creating an inclusive environment where diverse talent thrives.
About The Application Process
- Shortly after applying, you will receive an email from our partner AssessFirst prompting you to create a profile and complete a questionnaire. This is a mandatory step for your candidacy to be considered.
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