Financial Controller CKS

MILLENNIUM & COPTHORNE INTERNATIONAL LIMITED; Singapore; On-site; SGD 80,000 - 100,000; Full time

Job summary

A leading hospitality group in Singapore is seeking a Financial Manager. This role involves preparing financial statements, leading budgeting processes, managing cash flow, and ensuring compliance with regulations. The ideal candidate has over 5 years of financial management experience, strong analytical skills, and a background in the hospitality industry.

Qualifications

• 5+ years of experience in financial management, preferably in the hospitality industry.
• Strong knowledge of accounting principles and compliance regulations.
• Proven leadership and team management abilities.

Responsibilities

• Prepare and analyze financial statements according to USALI.
• Lead annual budgeting and financial forecasting processes.
• Implement cost control and monitor financial performance.
• Manage daily cash flow and banking relationships.
• Develop internal controls and ensure compliance with regulations.

Skills

Financial analysis

Budgeting

Cost control

Cash management

Team leadership

Education

Bachelor's degree in Finance or Accounting

Tools

Financial software systems (PMS, POS)

Job description

Financial Reporting & Analysis:

• Prepare and analyze timely and accurate financial statements (P&L, Balance Sheet, Cash Flow) in accordance with USALI (Uniform System of Accounts for the Lodging Industry) and local accounting standards.
• Generate various financial reports, including departmental performance reports, variance analysis, and key performance indicator (KPI) dashboards.
• Provide insightful financial analysis to the General Manager and department heads, highlighting trends, risks, and opportunities.
• Present financial results and forecasts to management and ownership as required.

Budgeting & Forecasting:

• Lead the annual budgeting process, collaborating with department heads to develop comprehensive and realistic budgets.
• Prepare regular financial forecasts (monthly, quarterly, annually) to project future performance.
• Monitor actual performance against budget and forecast, identifying significant variances and recommending corrective actions.

Cost Control & Revenue Management Support:

• Implement and maintain strong cost control procedures across all hotel departments.
• Monitor expenses, identify areas for cost reduction, and negotiate with suppliers to optimize procurement.
• Provide financial support and analysis to the revenue management team to optimize pricing strategies and maximize revenue.

Treasury & Cash Management:

• Manage daily cash flow, ensuring adequate liquidity for operational needs.
• Oversee bank reconciliations and manage banking relationships.
• Monitor accounts receivable and payable, ensuring timely collections and payments.

Internal Controls & Compliance:

• Develop, implement, and maintain a robust system of internal controls to safeguard hotel assets and ensure the accuracy of financial data.
• Ensure compliance with tax regulations, labour laws, and hospitality industry standards.
• Coordinate and facilitate internal and external audits, ensuring timely completion and resolution of audit findings.
• Maintain up-to-date knowledge of accounting principles, tax laws, and industry best practices.

Team Leadership & Development:

• Recruit, train, mentor, and supervise the finance team (e.g., Accounts Payable, Accounts Receivable, General Cashier).
• Foster a culture of integrity, accuracy, efficiency, and continuous improvement within the finance department.
• Conduct performance reviews and provide constructive feedback to direct reports.

System Management:

• Oversee the effective utilization of financial software systems (e.g., PMS, POS, accounting software).
• Identify opportunities for system enhancements and automation to improve efficiency.