Vice President Finance

Company: The Crescent Hotels Group
Location: Fairfax
Posted on: April 1, 2025

Job Description:

DescriptionAt Crescent Hotels & Resorts, we are a team of hospitality professionals that are deeply connected to & proud of the exceptional experiences we provide for our guests. More than that, we know our Associates are the shining stars of what we do! We understand what it takes to be a part of something great. We will encourage you to bring your true self to work every day, we will celebrate you and we will cheer you on as you shine bright in your career journey. Whether it be our health & wellness programs, best in class learning and development or our travel discounts that 'feed your inner explorer', we work hard to create and deliver on what YOU need. We are ready for you to start your journey with us where You Belong. We Care. Shine Bright.We are committed to providing you with:

• Highly competitive wages
• An exceptional benefit plan for eligible associates & your family members
• 401K matching program for eligible associates
• Flexible scheduling to allow you to focus on what is important to you.
• Discounts with our Crescent managed properties in North America for you & your family members.The VP of Hotel Finance is responsible for directing the efforts of the Regional Directors of Finance that are assigned to them. Additionally, the VP of Hotel Finance is responsible for implementing, directing and evaluating a sound infrastructure to ensure that the financial operations and activities of hotels directly under their report are conducted in compliance with applicable policies, standards and procedures. The work includes the timely and successful implementation of automated accounting systems and the re-engineering of existing ways of doing business to facilitate improvement in productivity and key financial indicators (i.e. EBITDA). This position serves as the key conduit for corporate/hotel/ownership communications with regards to financial matters.DUTIES & FUNCTIONSEssential:
  • For all direct report and their respective regions of hotels, establish, coordinate and administer an adequate plan for the control of operations. This plan would provide profit planning, sales forecasts, expense budgets, capital requirement/needs, cost standards and the necessary procedures for effecting the plan.
  • Ensure that all hotels that are assigned to the Regional Directors of Finance formulate local accounting policy, coordinate systems and procedures and prepare operating data and special reports as required to compare performance with operating plans and standards and to report and interpret the results of operations to all levels of management and ownership (where applicable) to ensure timely information is provided in order to maximize profits.
  • Act as a financial consultant to their respective RDOF's; provide information on the financial impact of business decisions for all segments of management responsible for policy or action concerning any phase of the business that relates to attainment of objectives, effectiveness of policies and organization structure and procedures.
  • Be involved in tax audits and assist in coordinating the responses to governmental agencies for the properties directly assigned to them, when necessary.
  • Ensure hotels for the RDOF's that are assigned to them and the properties directly assigned to them are in compliance with hotel and accounting policies and procedures, legal requirements and contractual obligations (including obligations under a management agreement) utilizing internal controls, auditing and security procedures to ensure deviations are brought to the attention of the General Manager and appropriate regional management and to protect the hotel's assets.
  • Continue to mentor and train the RDOF's that are assigned to them, as well as be involved in the recruitment of new RDOF's as needed. Conduct performance and salary reviews, resolve problems and provide open communication vehicles and discipline and terminate as appropriate.
  • Fiduciary responsibility to Crescent and Ownership.
  • Approach all encounters with employees in an attentive, friendly, courteous and service-oriented manner.
  • Maintain regular meeting attendance in compliance with Crescent standards, as required by scheduling which will vary according to the needs of the hotel.
  • Maintain high standards of personal appearance and grooming, which include wearing the proper attire when working, especially in the field.
  • Comply at all times with Crescent standards and regulations to encourage safe and efficient hotel operations.
  • Maintain a warm and friendly demeanor at all times.
  • Employees must, at all times, be attentive, friendly, helpful, and courteous to all guests, managers, and fellow associates.
  • Plan and promote synergy and effective pooling of resources among Crescent hotels to form an integrated system of financial management which collectively focuses on achieving hotels and company objectives and maximizing profitability.
  • Supervise Regional Directors of Finance that are directly assigned. Assist them in managing various financial related tasks.
  • Ensure that all RDOF's complete the required property visit reports for their respective properties. A minimum of two financial review exercises per year per hotel is required. The results of the on-site financial/operational analyses should be structured to provide feedback and identify potential profit and/or control weaknesses.
  • Ensure compliance with Crescent internal controls as per established procedures, and interface with the Internal Audit department and corrective action plans are put in place to remediate all deficiencies identified at the properties assigned directly to them or to the RDOF's under their report.
  • Establish, implement, enforce and evaluate policies and procedures designed to achieve company, operational goals, and legal requirements.
  • Ensure cost-effectiveness of resource (staffing) utilization, and the quality and quantity of services provided.
  • Ensure that corporate-mandated policies, procedures, directives, and decisions are communicated fully and objectively to assigned hotels.
  • Direct and assist the timely implementation of new automated financial systems and practices at assigned hotels.
  • Assist the VP of Operations in overseeing the development of a viable action plan(s) to establish timeliness, and address issues such as staffing and training requirements, reengineering of work, hardware/software needs, integration of new standards/procedures, maintaining operational continuity and related transition activities.
  • Ensure that the receivables due to Crescent are prompt and current.
  • Review and monitor hotels' annual plans for deviations from approved plans. Communicate with the SVP of Hotel Finance all significant deviations from business plan(s) and recommend proper disposition of actions.
  • Ensure the monitoring of hotels' revenues/expenses and ensure the accurate recording as per Crescent established guidelines.
  • Ensure the monitoring of the capital planning process by assisting management with calculation of return on capital improvements, and ensure proper controls per Crescent procedures and Owners' expectations and requirements.
  • Ensure all hotels' assigned to the RDOF's are in compliance on all regulatory licenses and permits, leases, contracts, legal agreements, and the proper execution of all operational taxes.
  • Embrace a continuous growth environment by actively assisting in recruiting, reviewing, recommending new Regional Directors of Finance and maintaining an inventory of Directors of Finance for the organization.
  • Continually focus on training and development programs for accounting associates to cultivate the "brightest" and "best" talent within the industry.
  • Ensure coordination with VP of Operations on all communication with ownership regarding financial issues such as actual results, budgets, forecasts, cash-flow and capital recommendations.
  • Direct and ensure the adherence to the timely completion of the various due dates for their RDOF's and the properties directly assigned to them:Daily: Daily Income Journals and Revenue ReportsWeekly: Weekly Cash BalancesMonthly: Financial Statement - Forecasting - Cash Flow - Executive SummarySemi-Annual: Submission of Property ICQAnnual: Annual Budgets - Cash Flow Statement - Capital Projects
    • Conduct and/or attend and contribute to periodic hotel meetings to maintain favorable working relationships among employees and promote maximum morale, productivity, and efficiency.
    • Monitor hotels' compliance in meeting required report deadlines and due dates and react accordingly.Marginal:
      • Attend meetings/training as required by management.
      • Quarterly visits to the corporate office if scheduling permits.
      • Perform other duties as requested by management.QUALIFICATION STANDARDSEducation & Experience:
        • A minimum of 15 years of related progressive experience in hotel Accounting or related field; or a 4-year college degree with an Accounting/Finance concentration and a minimum of 10 years of related progressive experience; or a 2-year college degree and a minimum of 12 years of related progressive experience.
        • Must be proficient in Windows, Excel, Word for Windows and PowerPoint.
        • Proficiency in one or more back-office and front office systems is recommended.Physical Requirements:
          • Long hours sometimes required.
          • Sedentary work, exerting up to 25 pounds of force occasionally and/or negligible amount of force frequently or constantly to lift, carry, push, pull or otherwise move objects.
          • Must be willing, able and available to travel on short notice, and spend multiple nights away from home.Mental Requirements:
            • Must be able to clearly convey information and ideas including complex or technical issues, orally and in writing.
            • Must be able to evaluate and select among alternative courses of action quickly and accurately.
            • Must work well in stressful, high pressure situations.
            • Must maintain composure and objectivity under pressure.
            • Must be able to clearly direct those associates that are assigned to them.
            • Must be effective in handling problems in the workplace, including anticipating, preventing, identifying and solving problems as necessary.
            • Must have the ability to assimilate complex information, data, etc., from disparate sources and consider, adjust or modify to meet the constraints of the particular need.Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
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Keywords: The Crescent Hotels Group, Burke , Vice President Finance, Executive , Fairfax, Virginia