Job Description, Duties, Interview Questions and Salary for Hotel Financial Controller (FC)

As a HotelA Hotel or Inn may be defined as an establishment whose primary business is providing lodging facili... Financial ControllerThe financial Controller�manager is in charge of all accounting functions of a hotel. Duties inclu..., your primary responsibility would be to oversee and manage all financial operations of the hotel. You would be responsible for creating and implementing financial policies and procedures that ensure the hotel operates efficiently and profitably.

Your duties would include overseeing the budgeting and forecasting process, analyzing financial statements, and producing regular reports that provide insight into the hotel’s financial performance. You would also be responsible for managing the hotel’s cash flow, monitoring expenses, and ensuring that the hotel is in compliance with all financial regulations.

In addition to managing the hotel’s financial operations, you would also be responsible for leading and managing a team of finance professionals. This would involve recruiting, training, and developing your team, as well as setting performance targets and evaluating performance against those targets.

To be successful in this role, you would need to have a strong understanding of financial management principles, as well as excellent analytical and problem-solving skills. You would also need to be an effective communicator and have strong leadership skills that enable you to motivate and inspire your team to achieve their goals.

The Financial Controller (FC) will be responsible for managing the day-to-day operations of the accounts department, like preparation and management of the hotel financial budgets, implementing and overseeing all activities relating to the financial aspects of the hotel in compliance with the local tax laws and also by the hotel’s shops.

Additionally, responsible for financial analysis, reporting, budgeting, forecasting, audit and control, asset and liability reconciliation, working capital, and cash control. Etc. Also, ensure the safekeeping and updating of all legal documentation relating to the financial status of the hotel.

Financial Controller Duties and Responsibilities:

• Responsible for the property’s overall accounting and financial management requirements.
• Responsible for representing the finance department during daily morning HOD meetings.
• Responsible for the local tax authority compliance of the hotel.
• Responsible for supporting and liaising with the General ManagerManager is a person in the hotel operations who is assigned to manage or supervise a group of employ... in meeting the strategic goals of the organization.
• Responsible for preparing and reviewing annual budgets, monthly forecasts, and operating results.
• Responsible for verifying all financial reports and ensuring that all transactions are accurate and in compliance with local government regulations.
• Responsible for liaising with the hotel owner or managing director of the organization.
• Able to prepare and submit management reports promptly and also ensure delivery deadlines.
• Able to effectively implement all accounting policies and procedures.
• Able to ensure a strong accounting and operational control environment to safeguard hotel assets.
• Able to assist proactively with cost control requirements.
• Able to assist with revenue enhancement possibilities.
• Able to assist with profit improvement opportunities for hotel operations.
• Able to develop specific goals and plans to prioritize, organize, and accomplish the work.
• Assists in the building of an efficient and professional team of employees within the Finance and Accounting Department.
• Monitors all local tax compliance that applies, and ensures that taxes are charged correctly and collected.
• File the local tax with the concerned authority on a monthly/regular basis.
• Monitor and improve hotel operation costs, and profitability and manage business risks.
• Ensures profits and losses are documented accurately.
• Ensures property policies are administered fairly and consistently.
• Achieves and exceeds goals including performance goals, budget goals, team goals, etc.
• Oversees internal, external, and regulatory audit processes.
• Conduct regular weekly finance department meetings.
• Celebrates successes by publicly recognizing the contributions of team members.
• Provides excellent leadership by differentiating top performers, fosters teamwork, and also able to encourages work/life balance.
• Establishes and maintains open, collaborative relationships with employees.
• Ensures employees establish and maintain open, collaborative relationships within their team.
• Participates in the employee performance appraisal process, providing feedback as needed.
• Responsible for ensuring disciplinary procedures and documentation are completed according to hotel standards.
• Any other tasks as and when required by the management.

PositionStatus of the number of rooms available for sale. Title: Financial Controller / Director of Finance

Reports To: Hotel General Manager / Managing Director

Prerequisites:

• Should have a high command of MS Applications like Excel, PowerPoint, etc.
• Knowledge of Back officeBack office is the accounting office of a hotel. or accounting systems like Sun, SAP, Sage, Freshbooks, etc.
• Knowledge of Hotel Software or Property Management Systems like FIDELIO, OPERA, Protel Etc.
• Excellent communication and negotiation skills.
• Fluent in English, both oral and written.
• Excellent financial/business decision-making.
• Should possess strong Financial knowledge.
• Analytical skills and very well organized.

Education:

Qualified Chartered Accountant (CA) or Similar or 4-year bachelor’s degree in Finance and Accounting or similar major.

Experience:

At least 5 to 10 years of financial and management experience with the day-to-day financial operations in an up-scale (4/5 Star) hospitality environment.

Interview Questions for a Hotel Financial Controller (FC) Position:

1. Can you describe your experience in financial management, particularly in the hotel or hospitality industry?
   • This question assesses the candidate’s relevant experience and familiarity with financial management in a hotel setting.
2. How do you oversee the financial operations of a hotel, including budgeting, forecasting, and financial reporting?
   • Evaluates the candidate’s understanding of financial management processes and their strategic approach to overseeing financial operations.
3. Can you share an example of a successful financial initiative or cost-saving measure you implemented in a previous hotel financial controller role?
   • This behavioral question assesses the candidate’s practical experience and outcome-oriented mindset.
4. How do you ensure compliance with financial regulations and standards in the hotel industry, and what measures do you take to mitigate financial risks?
   • Assesses the candidate’s knowledge of financial regulations and their risk management strategies.
5. Have you played a role in implementing or upgrading financial systems or software in a hotel, and how do you leverage technology for efficient financial management?
   • This question evaluates the candidate’s technical proficiency and experience with financial software.
6. How do you collaborate with other hotel departments, such as operations and sales, to align financial goals with overall business objectives?
   • Assesses the candidate’s teamwork and communication skills in a cross-functional environment.
7. What strategies do you employ to monitor and optimize revenue streams in a hotel, and how do you analyze and interpret financial data to guide decision-making?
   • This question evaluates the candidate’s revenue management strategies and analytical skills.
8. How do you handle financial audits, both internal and external, and what steps do you take to ensure accurate and transparent financial reporting?
   • Assesses the candidate’s experience with audits and their commitment to accurate financial reporting.

Salary for a Hotel Financial Controller (FC) Position:

The salary for a Hotel Financial Controller can vary based on factors such as location, the size and prestige of the hotel, and the candidate’s level of experience. As of January 2024, the average salary for a Hotel Financial Controller in the United States ranged from $80,000 to $120,000 annually.

It’s important to note that salary ranges can change, and it’s advisable to research current salary trends using industry reports, salary surveys, and job boards specific to your region and the hospitality sector. Additionally, consulting with local HR professionals or recruitment agencies can provide insights into the current compensation landscape for Hotel Financial Controller positions.

Overall, the role of a Hotel Financial Controller is a challenging and rewarding one that requires a unique blend 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 could be the perfect role for you.