Director of Finance SLS

Company DescriptionWe are looking for a Director of Finance to join the pre-opening of SLS The Red Sea .Ennismore, with its luxury brand SLS Hotels, is currently opening a magnificent project in the oasis that is The Red Sea.

SLS The Red Sea is planned to open in 2025.Introducing the newest gem of dazzling luxury to reach The Red Sea project : resort offers 150 luxurious keys, complemented by an impressive array of 7 distinct Food & Beverage outlets and a rejuvenating spa sanctuary.

Catering to both adults seeking a getaway and families craving connection and some adventure, this hotel brings a wonderland of extraordinary experiences to The Red Sea, providing an array of amenities and activities tailored for travelers of all ages.

This project is not for the faint at heart. At Ennismore, we are ambitious, and this project is a perfect example of that.

If you are looking to make your mark as we expand further into the Kingdom of Saudi Arabia, build an exciting hotel with lots to offer, and curate the team with some of the best and brightest in the lifestyle and luxury hospitality space, this might just be the right fit for you.

Job DescriptionThe Director of Finance will play a crucial role in steering the financial operations of SLS during its pre-opening phase.

Responsible for establishing and overseeing a comprehensive financial structure that supports the resort's successful launch, including the development and implementation of financial strategies, budget management, and providing financial guidance to senior management for long-term sustainability.

Excellent knowledge in International Financial Reporting Standards (IFRS) is a must. If you possess exceptional technical expertise, excellent leadership skills, and a passion for maintaining a world-class facility, we invite you to take on this pivotal role and shape the future of our esteemed establishment!Key Responsibilities : Financial Planning and Strategy : Develop and implement comprehensive financial plans and strategies aligned with the resort's overall business objectives.

Budgeting and Forecasting : Prepare detailed operating and capital budgets, accurately forecasting revenue and expenses. Monitor actual performance against budgets and identify areas for improvement.

Financial Reporting and Analysis : Generate timely and accurate financial reports, providing insights into the resort's financial performance.

Conduct financial analyses to identify trends, risks, and opportunities.Treasury Management : Manage the resort's cash flow, ensuring sufficient liquidity to meet financial obligations.

Optimize banking relationships and negotiate favourable terms.Internal Control and Compliance : Establish and maintain robust internal controls to safeguard assets and prevent fraud.

Ensure compliance with all applicable financial regulations and reporting requirements.Financial Team Leadership : Lead and manage the finance team, providing guidance, training, and performance management.

Foster a collaborative and results-oriented work environment.Pre-Opening Preparation : Oversee financial aspects of the resort's pre-opening phase, including vendor negotiations, asset acquisitions, and initial staffing.

Financial Guidance and Reporting : Provide financial guidance to senior management, and prepare regular financial reports for stakeholders.

Financial and Management Accounting Responsibilities : Managing accounting records and financial reports while overseeing the issuance of financial reporting.

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 postings are compliant with the uniform system of accounting for the lodging industry and company finance policies.

Establish strong cash management controls, prepare monthly cash flow forecasts, and recommend actions accordingly.Manage cash requirements and coordinate with owners on the funds.

Ensure all balance sheet accounts are fully reconciled monthly, and discrepancies are immediately identified and corrected.

Review and approve balance sheet reconciliation in line with company policy.Oversee the Finance and Accounting department in the hotel, ensuring its smooth operation so that all financial and management reports are accurate and available by their due dates.

Establish and recommend to management major financial objectives for the hotel.Direct preparation of annual budgets and monthly forecasts;

establish and / or recommend to management major economic objectives and policies for the hotel.Draft and maintain accurate yearly financial statements in accordance with International Financial Reporting Standards (IFRS).

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.

Ensure all capital purchases / disposals are in accordance with policies and procedures and review all management and depreciation reports.

Strategic Planning and Business Support : Develop Hotels finance strategy by contributing financial and accounting information, analysis, and recommendations to strategic direction, establishing functional objectives in line with organizational objectives.

Prepare and present return on investment evaluations for capital development projects when needed.Maximize return on invested funds by identifying investment opportunities;

maintaining relationships with asset management.Communication and Relationship : Establish a professional and strong relationship with owners and asset managers.

Report monthly to regional, corporate, and asset management groups 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.

Maintain close communication with third parties such as government auditors, external auditors, business partners, 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.

Maintain appropriate records of education, training, skills, and experience of each individual colleague.Ensure that responsibilities and authorities are defined and communicated within the organization.

Set individual development plans for each individual colleague and strive for their future development.Work on special assignments set by the regional or corporate team and meet specific deadlines set by the group.

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 Ennismore's Waycode of conduct and report any variation.Coordinate with government authorities for tax compliance.

Monitor any legal issues involving the property and report to owners and corporate office accordingly.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.Review and certify any hotel internal or external financial reporting before distribution.

Liaise with company treasury and corporate finance on cash flow, finance policies, reports, audits, and insurance matters.

Contribute to company finance policy drafting, implementation, and ensure compliance within the Area.Conduct monthly performance reviews with HODs and establish a combined action plan.

Regularly organize credit meetings with the participation of the General Manager and all concerned Heads of Department where all debtors’ balances are analyzed.

QualificationsBachelor’s degree in commerce / business / accounting or professional accreditation e.g. ACA, ACCA, CPA, CIMA, CMA, IFRS.

Minimum of 5 years' experience in a similar role with a luxury hotel brand.Proficiency in computer software systems such as MS Office and knowledge of Opera, Micros, Sun, and Hyperion is essential, along with excellent communication skills in written and spoken English.

Additional InformationWhat awaits you...The opportunity to join an international and innovative and fast-growing group, committed not only to building new hotels but to creating a global brand.

The ability to challenge the norm and work in an environment that is both creative and rewarding.Be part of a team that is very passionate about creating great hospitality experiences and exploring new locations with every opportunity.

A competitive package and plenty of development opportunities.#J-18808-Ljbffr