The Role
Oversee the hospitality group’s finance department, including financial reporting, budgeting, forecasting, revenue controls, accounts receivable and payable, cash management, payroll accounting, audits, tax compliance, and internal controls. Monitor hotel performance metrics, safeguard assets, manage risks, and provide financial guidance to leadership. Lead and develop the finance team while ensuring accurate and timely reporting and compliance with Barbados regulations.
Summary Generated by Built In
Overview: Our client is one of the longest established
Hotel operators in Barbados with multiple locations along the South Coast. Due
to expansion, they are seeking to add a professional to the management team.
Duties & Responsibilities:
Financial Accounting & Reporting
- Manage the day-to-day operations of the Finance Department.
- Prepare and review monthly financial statements, management accounts, and reports.
- Ensure financial information is accurate, complete, and submitted on time.
- Analyze financial results, variances, and overall hotel performance.
- Maintain accurate accounting records and ensure balance sheet reconciliations are completed.
Budgeting & Forecasting
- Lead the annual budgeting process.
- Prepare monthly and annual forecasts with the General Manager and department heads.
- Monitor performance against budgets and forecasts.
- Investigate variances and recommend corrective action.
- Provide financial guidance to management to support profitability and cost control.
Hotel Operations & Revenue Control
- Oversee financial controls for rooms, food and beverages, events, and other revenue.
- Review daily revenue reports and ensure revenues are accurately recorded and reconciled.
- Monitor key hotel performance indicators such as occupancy, ADR, and RevPAR.
- Ensure proper controls over cash, credit cards, refunds, discounts, and other transactions.
- Monitor food and beverage costs, inventory, wastage, and margins.
- Review purchasing, receiving, and supplier procedures.
Accounts Receivable & Payable
- Oversee accounts receivable and payable activities.
- Monitor outstanding balances, credit accounts, and overdue payments.
- Ensure invoices are properly approved, recorded, and paid on time.
- Maintain accurate supplier and creditor reconciliations.
- Ensure proper controls over purchasing and payment processes.
Cash & Banking
- Oversee cash handling, banking, and daily deposits.
- Review bank reconciliations and resolve discrepancies.
- Monitor cash flow and working capital.
- Maintain controls over petty cash and operational cash.
Internal Controls & Risk Management
- Develop and maintain financial policies, procedures, and internal controls.
- Safeguard the hotel's financial and physical assets.
- Identify financial risks and control weaknesses and recommend improvements.
- Investigate discrepancies and irregularities.
- Ensure compliance with company policies and applicable Barbados legislation.
Payroll Support
- Oversee payroll accounting and ensure payroll information is accurate and authorized.
- Review payroll reports and statutory deductions.
- Ensure payroll-related obligations are paid and reported on time.
Tax, Audit & Compliance
- Coordinate external audits and provide required information and documentation.
- Ensure timely preparation of tax and statutory returns.
- Maintain records for tax and regulatory compliance.
- Liaise with auditors, tax advisors, financial institutions, and regulatory agencies.
- Stay updated on relevant accounting, tax, and regulatory requirements.
Team Management
- Ensure appropriate staffing, workflow, and productivity within the Finance Department.
- Provide guidance and support to Finance team members.
Requirements
- Bachelor’s degree in Accounting,
Finance, Business Administration, or a related discipline.
- Professional accounting qualifications
such as ACCA, CPA, CIMA, or equivalent is strongly preferred.
- Minimum of 5 years' progressive
accounting/finance experience, with significant experience in the hotel or
hospitality industry.
- Previous experience as a Financial
Controller, Assistant Financial Controller, Finance Manager, or equivalent
senior finance position.
- Strong knowledge of hotel
accounting, financial reporting, budgeting, forecasting, and internal
controls.
- Experience managing and developing a
finance team.
- Strong working knowledge of
Microsoft Excel and accounting/ERP systems.
- Experience with hotel property
management and point-of-sale systems is an advantage.
- Knowledge of Barbados tax,
statutory, and regulatory requirements would be an asset.
Skills Required
- Bachelor's degree in Accounting, Finance, Business Administration, or a related discipline
- Professional accounting qualification such as ACCA, CPA, CIMA, or equivalent
- At least 5 years of progressive accounting or finance experience, including significant hotel or hospitality industry experience
- Previous experience as a Financial Controller, Assistant Financial Controller, Finance Manager, or equivalent senior finance professional
- Strong knowledge of hotel accounting, financial reporting, budgeting, forecasting, and internal controls
- Experience managing and developing a finance team
- Strong working knowledge of Microsoft Excel and accounting or ERP systems
- Experience with hotel property management and point-of-sale systems
- Knowledge of Barbados tax, statutory, and regulatory requirements
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The Company
What We Do
Favio Group is a Barbados-based recruitment agency serving employers and job seekers across the Caribbean. It provides temporary and contract staffing, permanent employee recruitment, high-volume applicant screening, interview-panel support, and executive search and selection. Founded to bring a fresh approach to Caribbean recruitment, Favio has expanded beyond Barbados and recruits across sectors including finance, information technology, manufacturing, retail, logistics, construction, distribution, and hospitality.
