Director of Finance – Jabal Omar Jumeirah Makkah Hotel
At Jumeirah, we are committed to encouraging and developing our colleagues in world class environments. We value diversity and provide equal opportunities, employing over 14,000 colleagues from over 140 different countries including locations in Asia Pacific, CIS, Central Asia, Western and Eastern Europe, South America, Africa and the Middle East.
We want you to do well from the beginning, so we’ll give you every chance to impress during the recruitment process. We promise our colleagues a warm welcome and will help you feel part of our Jumeirah family from day one. You can rely on us to support you as you settle into your journey with us and make Jumeirah ‘Your Place to Shine’.
The Jabal Omar Jumeirah Makkah Hotel will include 1,033 guest rooms along with 93 villas and will feature a variety of food and beverage offerings, meeting facilities, executive lounge, and gymnasium and over 90 retail units throughout the complex. The hotel will be operational in early 2019.
About The Role
An exciting opportunity has arisen for a highly talented and experienced Hospitality professional to join the Preopening and the Finance team at The Jabal Omar Jumeirah Makkah Hotel. The main purpose of this role is to be responsible of the accounting and the financial requirements of the The Jabal Omar Jumeirah Makkah Hotel.
Your key responsibilities will include:
As this role is Pre Opening and leads into an Operational situation, the DoF is expected to prepare and be involved in the control of all aspects of Pre-Opening Budgets, Operating Equipment Purchases and other Pre-Opening Finance and Business related activities as may be necessary.
Maintain a monthly reconciliation with owners on the pre-opening budget and confirm full closing balance within 90 days after the opening.
Regularly report to regional office the progress and update on the opening critical path and ensure a success opening by completing 100% of pre-opening plan.
Establish and build a strong professional relationship with owners and their representatives.
Select and hire finance colleagues.
Coordinate and plan with IT department system setup, implementation and trainings.
Understand the full term of the management agreement and ensure compliance with all key clauses.
Prepare cash flow projection and working capital requirements for first 3 months of trading.
Prepare first year of operation budget.
Financial And Management Accounting Responsibilities
The main responsibilities are managing the accounting records, financial reports and oversee the issuance of SBUs financial reporting.
To ensure that the books, records and accounts are maintained accurately and fairly reflect the transactions and administration of the assets of the hotel.
Ensure general ledger posting are in compliance with uniformed system of accounting for lodging industry.
Establish a strong cash management controls, prepare monthly cash flow forecast, and recommend actions accordingly.
Ensure all balance sheet accounts are fully reconciled on a monthly basis and discrepancies are immediately identified and corrected.
To oversee the Finance and Accounting department in the hotel, and ensure its smooth running so that all financial and management reports are accurate and available by their due dates.
Generate and discuss with relevant parties special operation analysis reports with an objective of minimizing variances versus budget and prior year, flow through analysis, outlet menu engineering, profit margin analysis, manning structure and payroll cost, etc.
Establish and recommend to management major financial objectives for hotel.
Direct preparation of annual budgets and monthly forecasts; establish and/or recommend to management major economic objectives and policies for hotel.
Draft and maintain accurate yearly financial statements, in accordance with International Financial Reporting Standards.
Generate and discuss with relevant parties special operation analysis reports with a strategic objective of minimizing the variance: performance versus budget and versus prior year, flow through analysis, outlet menu engineering, profit margin analysis, manning structure and payroll cost, etc…
Strategic Planning And Business Support
Develops SBU finance strategies by contributing financial and accounting information, analysis, and recommendations to strategic direction; establishing functional objectives in line with organizational objectives.
Prepare a 5 year capital budget plan and 5 year operation projections.
Prepare and present return on investment evaluation for capital development projects when needed.
Maximizes return on invested funds by identifying investment opportunities; maintaining relationships with asset management.
Communication And Relationship
Establish a professional and strong relationship with owner and asset managers.
Report monthly to regional, corporate and asset management group on the property financial performance.
Work closely with the General Manager and Executive committee of the property and act as a business advisor and risk advocate.
Work closely with regional team and corporate on any specific requirement.
To maintain close communication with third parties such as the public auditors, external auditors, and local authorities.
Provide training in hotels to enhance the financial skills of the Management Team as a whole. You should be the “coach” to both the Hotel Finance teams and non-Financial Managers.
Set individual development plan for each individual colleague and strive for their future development.
Work on special assignment set by regional or corporate team and meet specific deadline set by the group.
Manage the coordination with the finance shared service based on agreed SLA. (Applicable in a shared service environment.
Risk, Audit And Compliance Responsibilities
Ensure compliance with company finance directives and delegation of authority.
Ensure that the company complies with all legal and local regulatory requirements
Coordinate with Internal Audit on compliance according to company financial policies, governance, risks and fraud.
Comply with the company’s ethic code of conduct and report any variation.
Coordinate with government authorities for tax compliance.
Monitor any legal issues involving the property and report to owner and corporate office accordingly.
To devise and maintain a system of internal accounting control sufficient to ensure that transactions are executed in accordance with Management’s general and specific authorization and in compliance with generally accepted accounting principles and specific country legislation.
Maintain relations with external auditors and investigate their findings and recommendations.
To review and certify any hotel internal or external financial reporting before distribution.
Mitigate any key risk on the asset and the company IP in general.
Conduct monthly performance reviews with HODs and establish a combined action plan.
To regularly organise credit meetings with the participation of the General Manager and all concerned Heads of Department where all debtors’ balances are analyzed.
Ensure the right person in the right role, in an environment of continuous development.
Implement and create best practices that could be shared with Finance Leadership Committee.
Complete ad hoc requests when required.
In order to be considered for this role, you will have a Bachelor’s degree in Commerce / Business / Accounting or Professional accreditation e.g. ACA, ACCA, CPA, CIMA, CMA.
Minimum of 4 years experience in a similar role in a 5* luxury brands in Kingdom of Saudi Arabia.
Proficiency in computer software systems such as MS Office and knowledge of Opera, Micros, Sun, and Hyperion is essential and excellent communication skills in written and spoken English.
About The Benefits
This position offers a highly competitive salary and package which includes; housing allowance, annual flight tickets allowance, medical and dental coverage, pension, life and accident insurance, retail and leisure discounts, 50% discount off Jumeirah F&B Outlets and reduced hotel rates. Married colleagues will enjoy family benefits for up to two children which include education assistance.
Makkah / Mecca
Director of Finance–OLD
MEASA Region [Main]