Responsibilities
Key job roles include:
Financial Management:
- Preparing and analyzing financial statements.
- Monitoring cash flow and working capital.
- Managing budgets and forecasts.
- Tracking revenue from rooms, food and beverage sales, events, and other services.
Cost Control:
- Monitoring operational costs such as food, beverages, utilities, payroll, and maintenance.
- Conducting cost analyses to improve profitability.
- Identifying areas of waste, theft, or inefficiency.
- Establishing cost-control procedures.
Budgeting and Forecasting:
- Developing annual budgets.
- Forecasting occupancy rates, sales, and expenses.
- Comparing actual performance against budget targets.
- Advising management on financial planning.
Financial Reporting:
- Producing monthly, quarterly, and annual financial reports.
- Presenting financial performance to management and owners.
- Providing key performance indicators KPIs such as:
- Revenue per Available Room RevPAR
- Average Daily Rate ADR
- Food Cost Percentage
- Labor Cost Percentage
Tax Compliance:
- Preparing and filing tax returns.
- Ensuring compliance with local tax regulations.
- Managing VAT, withholding taxes, and corporate taxes where applicable.
- Advising on tax-efficient business practices.
Internal Controls and Auditing:
- Designing and monitoring internal control systems.
- Conducting internal audits.
- Ensuring accurate recording of transactions.
- Preventing fraud and financial irregularities.
Accounts Payable and Receivable Management:
- Managing supplier payments.
- Monitoring guest and corporate customer receivables.
- Reconciling accounts.
- Maintaining healthy cash collection processes.
Payroll Management:
- Overseeing payroll calculations and payments.
- Ensuring statutory deductions are correctly processed.
- Monitoring labor costs, which are a major expense in hospitality businesses.
Strategic Decision Support:
- Advising management on investments and expansion projects.
- Evaluating the financial viability of new services or facilities.
- Supporting pricing strategies and profitability improvement initiatives.
Regulatory Compliance:
- Ensuring compliance with accounting standards and industry regulations.
- Coordinating external audits.
- Maintaining proper financial records for inspections and audits.
Requirements
- Chartered Accountant qualification ICAN, ACCA, ACA, or equivalent
- Minimum of 3 years' experience in accounting and finance
- At least 3 years' experience working in the hospitality industry hotel, resort, restaurant, or related sector
- Strong knowledge of financial reporting, budgeting, and forecasting
- Experience with tax compliance, payroll management, and statutory reporting
- Proficiency in accounting software and Microsoft Excel
- Excellent analytical, communication, and problem-solving skills
- High level of integrity, professionalism, and attention to detail
