Residential Finance Manager - Four Seasons Resort at The Red Sea, Saudi Arabia

Four Seasons Hotels Ltd; Saudi Arabia; On-site; SAR 150,000 - 200,000; Full time

Job summary

A luxury hotel chain is seeking a Residential Finance Manager for its resort in Saudi Arabia. This role involves overseeing financial operations, ensuring compliance, and guiding financial decision-making. The ideal candidate will have 5+ years of experience in financial management within the hospitality sector, strong analytical skills, and a bachelor's degree in finance or a related field. Join a team dedicated to providing unparalleled guest experiences while maintaining the highest standards of financial integrity.

Qualifications

• Minimum of 5 years of financial management experience, preferably in residential settings.
• Proven leadership skills in a hospitality environment.

Responsibilities

• Oversee financial operations for residential services.
• Prepare and present financial reports to stakeholders.
• Monitor and control expenses to align with the budget.

Skills

Knowledge of accounting principles

Analytical skills

Leadership skills

Excellent communication

Interpersonal skills

Education

Bachelor’s degree in finance or related field

Master’s degree preferred

Tools

Excel

Sun Accounting

Opera

Job description

Residential Finance Manager - Four Seasons Resort at The Red Sea, Saudi Arabia page is loaded

Residential Finance Manager - Four Seasons Resort at The Red Sea, Saudi Arabia

Apply locations Red Sea time type Full time posted on Posted 2 Days Ago job requisition id REQ10352563

About Four Seasons:

Four Seasons is powered by our people. We are a collective of individuals who crave to become better, to push ourselves to new heights and to treat each other as we wish to be treated in return. Our team members around the world create amazing experiences for our guests, residents, and partners through a commitment to luxury with genuine heart. We know that the best way to enable our people to deliver these exceptional guest experiences is through a world-class employee experience and company culture.

At Four Seasons, we believe in recognizing a familiar face, welcoming a new one and treating everyone we meet the way we would want to be treated ourselves. Whether you work with us, stay with us, live with us or discover with us, we believe our purpose is to create impressions that will stay with you for a lifetime. It comes from our belief that life is richer when we truly connect to the people and the world around us.

About the location:

Soon to be one of the region’s foremost luxury beachside destinations, The Red Sea will comprise of the idyllic natural islands and lagoons across 200 kms of coastline along the western coast of the Kingdom of Saudi Arabia, between the cities of Umluj and Al Wajh. The new Four Seasons Resort will be located on Shura Island, the hub of the development and home to a yacht marina, leisure and lifestyle facilities, retail offerings, 18-hole golf course and more. The Red Sea destination is being built with sustainable practices and tourism at its core, with the masterplan being informed by an impressive marine spatial planning simulation to model the environmental impact of development and operations to minimize over-tourism while providing guests with an exceptional travel and lifestyle experience. The destination will also rely on renewable energy and will only develop a small portion of the islands with expansive dedicated conservation zones. The new Four Seasons Resort will offer approximately 149 rooms and suites, all with uninterrupted views over white sand beaches and crystal-clear waters. The property will also feature six restaurant and lounge outlets, meeting and events spaces, a marine discovery centre, Kids for All Seasons space and much more. Whether looking for rest and relaxation or sport and water activities, there will be something for everyone, including a full-service spa with a hammam, tennis courts, three outdoor pools with cabanas, and two separate beaches for families and adults perfect for soaking in the sun or diving down to explore the coral reefs.

Responsibilities

The Residential Finance Manager/Assistant Director of Finance is responsible for the safeguarding of the residence asset and financial resources to ensure that the homeowner’s interests are protected whilst maintaining the reputation of Four Seasons as the property manager. Ensure that the residences are operated as stipulated in the project governing documents and Four Seasons Management Agreements. Assist the Director of Residences in the administration of all financial aspects of the Residential Operation, to ensure that all local and corporate policies and procedures are observed and to ensure the financial and legal integrity of the business is maintained. The Residential Finance Manager / Assistant Director of Finance plays a key leadership role in overseeing financial operations for residential services, ensuring compliance, accuracy, and efficiency in financial reporting, budgeting, and analysis. This role acts as a strategic partner to the Director of Finance and assists in guiding financial decision-making to support the organization’s residential programs.

Tasks

• Monitor the status of the Accounts Receivable aging and billing collection of service charges and other charges as aligned with the governing documents and local standards while maintaining adequate cash flow.
• In conjunction with the Corporate Risk Management team, ensure that adequate insurance coverage is procured on both a global and local basis.
• Prepare allocation methodology between residences and common areas in accordance with governing documents, local legislation and common practice in the marketplace for a similar level of luxury residential developments.
• Ensure that monthly reconciliations for all balance sheet accounts are prepared and signed off in accordance with policy, with special attention paid to the bank accounts.
• Review all purchase orders for alignment with service charge budget.
• Prepare the annual service charge budget
• Attend/present at Board and/or Member meetings.
• Prepare all sales and use tax returns and any other reporting that is required by local legislation on time and accurately.
• Maintain a capital reserve account for the replacement of FF&E, plant and machinery and be actively involved in the longer-term planning for the replacement of the infrastructure as appropriate and/or in compliance with the governing documents including a third party reserve study if applicable.
• Monitor and control expenses of the residences to ensure that the service charge budget is always respected.
  

Additional Responsibilities

• Preparation of comprehensive monthly report of the entire financial results of the residences in established corporate formats and in accordance with the governing documents, Four Seasons Management Agreements and generally accepted accounting principles.
• Ensure that financial statements, corporation tax returns, etc. are prepared and completed by a third-party audit firm, in accordance with local requirements.
• Assist with labour meetings and ensure labour model is efficient and appropriate for residence occupancy throughout the year.
• Maintain files on all contracts, leases and agreements and ensure compliance with their requirements, ensure proper authorisation has been obtained for all residence specific contracts, and other agreements and competitive bids are on file.
• Proactively suggest ways to reduce costs and look to implement such savings on an on-going basis.
• Coordinate, observe and prepare all operating equipment and supply inventories in accordance with corporate policies.
• Maintain internal controls and financial procedures that align with organizational policies and industry best practices.

Skills and Competencies

• Working technical knowledge of generally accepted accounting principles and job knowledge of all positions in accounting and purchasing. These should include but not limited to accounts payable, credit management, cashiering function, and complete understanding of the general ledger.
• Strategic, analytical and have solid business acumen.
• Strong reading comprehension and competency in legal language reading comprehension.
• Excellent excel and computer skills, Sun Accounting and Opera knowledge would be preferable.
• Proven leadership skills in a residences/hotel/resort environment.
• Excellent written and verbal communication skills to prepare and deliver reports, effective presentations and to facilitate meetings.
• Applies an ethical and moral approach to influence the outcome of situations.
• Serve as a role model for others by demonstrating appropriate business conduct and ethical principles
• Strong interpersonal and relationship building skills to work with cross-functional teams negotiate for resources and influence stakeholders and to gain acceptance of and commitment to plans, ideas, and initiatives as appropriate.

Qualifications:

• University Degree - Bachelor’s degree in finance, Accounting, Business Administration, or a related field (master’s preferred).
• Minimum of 5 years of progressive financial management experience, preferably in residential, or nonprofit settings.

Key Relationships:

• Director of Residences
• Regional Director of Finance/Director of Finance
• Residences Owners/Asset Managers
• Homeowner Associations (where applicable)
• Third Party Professionals – Bankers, Lawyers, Auditors etc

Dedicated to perfecting the travel experience through continual innovation and the highest standards of hospitality, Four Seasons can offer what many hospitality professionals dream of -the opportunity to build a life-long career with global potential and a real sense of pride in work well done.