Group Financial Controller (Hospitality Sector)

Hiring company: FAVIO Inc. Source: Built In Overview: Our client is one of the longest established Hotel operators in Barbados with multiple locations along the South Coast. Due to expansion, they are seeking to add a professional to the management team. ​ Duties & Responsibilities: Financial Accounting & Reporting • Manage the day-to-day operations of the Finance Department. • Prepare and review monthly financial statements, management accounts, and reports. • Ensure financial information is accurate, complete, and submitted on time. • Analyze financial results, variances, and overall hotel performance. • Maintain accurate accounting records and ensure balance sheet reconciliations are completed. Budgeting & Forecasting • Lead the annual budgeting process. • Prepare monthly and annual forecasts with the General Manager and department heads. • Monitor performance against budgets and forecasts. • Investigate variances and recommend corrective action. • Provide financial guidance to management to support profitability and cost control. Hotel Operations & Revenue Control • Oversee financial controls for rooms, food and beverages, events, and other revenue. • Review daily revenue reports and ensure revenues are accurately recorded and reconciled. • Monitor key hotel performance indicators such as occupancy, ADR, and RevPAR. • Ensure proper controls over cash, credit cards, refunds, discounts, and other transactions. • Monitor food and beverage costs, inventory, wastage, and margins. • Review purchasing, receiving, and supplier procedures. Accounts Receivable & Payable • Oversee accounts receivable and payable activities. • Monitor outstanding balances, credit accounts, and overdue payments. • Ensure invoices are properly approved, recorded, and paid on time. • Maintain accurate supplier and creditor reconciliations. • Ensure proper controls over purchasing and payment processes. Cash & Banking • Oversee cash handling, banking, and daily deposits. • Review bank reconciliations and resolve discrepancies. • Monitor cash flow and working capital. • Maintain controls over petty cash and operational cash. Internal Controls & Risk Management • Develop and maintain financial policies, procedures, and internal controls. • Safeguard the hotel's financial and physical assets. • Identify financial risks and control weaknesses and recommend improvements. • Investigate discrepancies and irregularities. • Ensure compliance with company policies and applicable Barbados legislation. Payroll Support • Oversee payroll accounting and ensure payroll information is accurate and authorized. • Review payroll reports and statutory deductions. • Ensure payroll-related obligations are paid and reported on time. Tax, Audit & Compliance • Coordinate external audits and provide required information and documentation. • Ensure timely preparation of tax and statutory returns. • Maintain records for tax and regulatory compliance. • Liaise with auditors, tax advisors, financial institutions, and regulatory agencies. • Stay updated on relevant accounting, tax, and regulatory requirements. Team Management • Ensure appropriate staffing, workflow, and productivity within the Finance Department. • Provide guidance and support to Finance team members. Requirements• Bachelor’s degree in Accounting, Finance, Business Administration, or a related discipline. • Professional accounting qualifications such as ACCA, CPA, CIMA, or equivalent is strongly preferred. • Minimum of 5 years' progressive accounting/finance experience, with significant experience in the hotel or hospitality industry. • Previous experience as a Financial Controller, Assistant Financial Controller, Finance Manager, or equivalent senior finance position. • Strong knowledge of hotel accounting, financial reporting, budgeting, forecasting, and internal controls. • Experience managing and developing a finance team. • Strong working knowledge of Microsoft Excel and accounting/ERP systems. • Experience with hotel property management and point-of-sale systems is an advantage. • Knowledge of Barbados tax, statutory, and regulatory requirements would be an asset.