Assistant Director of Finance in New York, New York at NO Hotel Management LLC

Job Description Summary

The Assistant Director of Finance (ADOF) is the Director of Finance’s second-in-command for

Nine Orchard Hotel and its food and beverage outlets. The ADOF manages the day-to-day

accounting office, owns the month-end close, and supervises the Property Accountant and

accounting team. The ADOF steps in for the Director of Finance when needed.

This position requires a strong hotel finance and accounting background, with expertise in

financial reporting, balance sheet reconciliations, revenue accounting, internal controls,

budgeting, forecasting, and cash management. The ADOF must understand hotel-specific

accounting practices, including rooms and food and beverage revenue, departmental financial

statements, and the Uniform System of Accounts for the Lodging Industry (USALI).

Based upon fluctuating demands of the operation and to exceed customer expectations, it may be

necessary to perform a variety of functions not specifically related to this position. This person

may be expected to perform other tasks and duties as needed or as directed. Employee

responsibilities and job descriptions are subject to review and revision.

Essential Functions

Month-End Close & Financial Reporting

1. Lead the monthly close calendar and ensure all closing activities are completed

accurately and on schedule.

2. Prepare and review journal entries, accruals, prepaid expenses, and allocations.

3. Review and sign off on all balance sheet reconciliations, maintain monthly balance sheet

analysis with full supporting detail, and resolve outstanding discrepancies.

4. Prepare monthly financial statements within the closing schedule in accordance with

generally accepted accounting principles (GAAP), USALI, and company policies.

5. Ensure proper revenue and expense classification and cost allocations across rooms, food

and beverage, and other hotel departments.

6. Prepare clear variance commentary against budget, forecast, and prior-year results.

7. Prepare monthly owner and management company reporting packages.

8. Maintain regular communication with MML Hospitality corporate finance regarding

reporting requirements and deadlines.

Revenue, Income Audit & Cash Controls

1. Oversee the income audit for the hotel and food and beverage outlets, and review night

audit and daily revenue reporting.

2. Ensure accurate recording and reconciliation of rooms and food and beverage revenue,

including package allocations, third-party commissions, and related taxes.

3. Review guest ledger, city ledger, and advance deposit balances, and follow up on aged or

unreconciled items.

4. Review revenue adjustments, allowances, refunds, and other exceptions for proper

documentation, approval, and accounting treatment.

5. Oversee bank, house bank, and credit card reconciliations, chargebacks, and disputes.

6. Conduct surprise cash and house bank audits.

Accounts Payable, Receivable & Purchasing

1. Supervise accounts payable processing, approval workflows, and check runs.

2. Manage accounts receivable and collections, including group, event, and direct-bill

accounts.

3. Ensure purchasing and approval policies are followed across departments.

Payroll & Labor

1. Review weekly payroll in Paylocity before submission.

2. Reconcile payroll to the general ledger, including tips, service charges, and accruals.

3. Prepare union reporting and benefit fund remittances under the hotel’s union agreement.

4. Partner with Human Resources on rate changes, new hires, and labor reporting.

Budgeting, Forecasting & Analysis

1. Assist in preparing the annual operating and capital budgets.

2. Review departmental budgets and forecasts for reasonableness, accuracy, and supporting

assumptions before submission to the Director of Finance and General Manager.

3. Prepare monthly and quarterly forecasts with department heads.

4. Prepare cash flow statements and cash forecasts as needed.

5. Develop labor, cost, and productivity analyses to support financial and operating

decisions.

6. Analyze departmental profitability and explain significant revenue and expense

variances.

7. Track capital expenditures and fixed assets.

8. Identify economic, market, and regulatory trends that could affect hotel or restaurant

financial results.

Controls, Audit & Compliance

1. Maintain internal controls and standard operating procedures that protect the hotel’s

assets against loss or misappropriation.

2. Support treasury and cash management in accordance with the management agreement

and related legal documents.

3. Prepare sales, use, and occupancy tax returns and other required filings, and coordinate

year-end audits.

4. Maintain organized and secure legal, treasury, and tax documentation, and track permit

and license renewals.

5. Ensure accounting systems, including M3, the property management system (PMS),

point-of-sale (POS) systems, and Paylocity, are configured and mapped correctly.

6. Reconcile activity from hotel systems to the general ledger and investigate discrepancies

or control weaknesses.

Leadership & Team Development

1. Supervise, train, schedule, and coach the Property Accountant and accounting staff.

2. Act as Director of Finance in their absence.

3. Serve as a financial business partner to department heads and coach them on their

financial responsibilities.

4. Partner with the Director of Food & Beverage on restaurant and bar financial results.

5. Perform additional duties as requested by the Director of Finance or hotel management.

Reporting Relationship

Reports directly to the Director of Finance.

Work Related Experience

? Minimum of 5 years of hotel accounting experience, including at least 2 years in a

supervisory role such as Accounting Manager, Assistant Controller, or a similar position.

? Strong hotel finance and accounting experience, with demonstrated ability to manage

accounting functions across rooms and food and beverage departments.

? Thorough knowledge of GAAP and USALI, including departmental reporting, revenue

and expense classification, and cost allocations.

? Strong technical knowledge of hotel revenue accounting, including guest and city

ledgers, advance deposits, room taxes, package allocations, and third-party commissions.

? Proven ownership of a full month-end close, including the preparation of accurate

financial statements and well-supported balance sheet reconciliations.

? Demonstrated ability to identify and resolve accounting discrepancies and maintain

effective internal controls.

? Experience with owner reporting, budgeting, forecasting, and cash flow projections.

? Strong financial analysis skills, including the ability to explain variances, assess

departmental profitability, and communicate financial results clearly.

? Experience with unionized payroll and union fund reporting preferred.

? Working knowledge of M3, a hotel PMS such as Opera, POS systems, and Paylocity or a

similar payroll system, including system interfaces and reconciliation to the general

ledger