JOB OVERVIEW
Functions as the property’s strategic financial business leader. As a member of the Executive Committee, the position champions, develops and implements property-wide strategies that deliver products and services to meet or exceed the needs and expectations of the brand’s target customer and property associates. The position provides the financial expertise to enable the successful implementation of the brand service strategy and brand initiatives while maximizing the return on investment to the owners and Marriott International.
In addition, creates and executes a business plan that is aligned with the property and brand’s business strategy and focuses on the execution of financial and accounting activities and the delivery of desirable financial results.
CORE WORK ACTIVITIES
Engaging in Strategic Planning and Decision Making
- Analyzes financial data and market trends.
- Analyzes information, forecasts sales against expenses and creates annual budget plans.
- Compiles information, analyzes and monitors actual sales against projected sales.
- Develops means to improve profit, including estimating cost and benefit, exploring new business opportunities, etc.
- Analyzes differences between actual budget wages and forecasted wages for more efficient budget planning.
- Identifies the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
- Thinks creatively and practically to develop, execute and implement new business plans
- Protects and strengthens our competitive advantage by advocating and supporting sound business and financial decision making.
- Ensures a strong accounting and operational control environment to safeguard assets, improve operations and profitability.
- Implements a system of appropriate controls to manage business risks.
- Leading Accounting Teams
- Utilizes interpersonal and communication skills to lead, influence, and encourage others; advocates sound financial/business decision making; demonstrates honesty/integrity; leads by example.
- Communicates the strategic goals, the focus and the owner priorities to subordinates in a clear and precise manner.
- Provides excellent leadership by assigning team members and other departments managers' clear accountability backed by appropriate authority.
- Holds staff accountable for successful performance.
Developing and Maintaining Finance and Accounting Goals
- Supports property strategy from a finance and accounting perspective
- Submits reports in a timely manner, ensuring delivery deadlines.
- Ensures Profits and Losses are documented accurately.
- Achieves and exceeds goals including performance goals, budget goals, team goals, etc.
- Ensures appropriate corrections are made to audit results if necessary.
- Reviews audit issues to ensure accuracy.
Managing Projects and Policies
- Monitors all taxes that apply, ensuring that taxes are current, collected and/or accrued.
- Generates and providing accurate and timely results in the form of reports, presentations, etc.
- Ensures compliance with standard and local operating procedures (SOPs and LSOPs).
- Oversees internal, external and regulatory audit processes.
- Ensures compliance with Standard Operating Procedures (SOPs).
- Ensures that the P&L is accurate (e.g., costs are properly matched to revenue, costs are recorded in the proper accounts).
Anticipating and Delivering on the Needs of Key Stakeholders
- Understands and meets the needs of key stakeholders (owners, corporate, guests, etc.).
- Understands the owners' perspective and ROI expectations.
- Anticipates and addresses owner needs and involves ownership in key decisions.
- Leverages strong functional leadership and communication skills to influence the executive team, the property's strategies and to lead own team.
- Advises the GM and executive committee on existing and evolving operating/financial issues.
- Facilitates critique meetings to review information with management team.
- Attends owners meetings in order to provide context and explanation for financial results.
- Attends meetings and communicates with the owners, understanding the priorities and strategic focus.
- Demonstrates a commitment to meeting the needs of all key stakeholders.
- Communicates financial concepts in a clear and persuasive manner that is easy to understand and drives desired behaviors.
Managing and Conducting Human Resource Activities
- Ensures team members are cross-trained to support successful daily operations.
- Ensures property policies are administered fairly and consistently.
- Ensures new hires participate in the department’s orientation program.
- Ensures new hires receive the appropriate new hire training to successfully perform their job.
- Creates appropriate development plans which develop team members based on their individual strengths, development needs, career aspirations and abilities.
Education and Experience
- 4-year bachelor's degree in Finance and Accounting or related major; 2 years experience in the finance and accounting or related professional area.
OR
- Master's degree in Finance and Accounting or related major; no work experience required.
Management Competencies
Leadership
- Professional Demeanor - Exhibiting behavioral styles that convey confidence and command respect from others; making a good first impression and representing Marriott in alignment with its values.
- Problem Solving and Decision Making - Identifying and understanding issues, problems, and opportunities; obtaining and
- comparing information from different sources to draw conclusions, develop and evaluate alternatives and solutions, solve problems, and choose a course of action.
- Communication - Conveying information and ideas to others in a convincing and engaging manner through a variety of methods. Strong public presentation skills.
- Adaptability - Maintaining performance level under pressure or when experiencing changes or challenges in the workplace.
Managing Execution
- Planning and Organizing - Gathering information and resources required to set a plan of action for self and/or others; prioritizing and arranging work requirements to accomplish goals and ensure work is completed.
- Driving for Results - Setting high standards of performance for self and/or others; assuming responsibility for work objectives; initiating, focusing, and monitoring the efforts of self and/or others toward the accomplishment goals; proactively taking action and
- going beyond what is required
- Building and Contributing to Teams - Leading and participating as a member of a team to move toward the completion of common goals while fostering cohesion and collaboration among team members.
Building Relationships
- Coworker Relationships - Interacting with others in a way that builds openness, trust, and confidence in the pursuit of organizational goals and lasting relationships.
- Customer Relationships - Developing and sustaining relationships based on an understanding of customer needs and actions consistent with Marriott's Spirit to Serve.
- Fostering Inclusion - Supporting associates with diverse styles, abilities, motivations, and/or cultural perspectives; leveraging personal differences to achieve objectives; and promoting a work environment where all associates are given the opportunity to contribute to their full potential.
Generating Talent and Organizational Capability
- Talent Management - Providing guidance and feedback to help individuals develop and strengthen skills and abilities needed to accomplish work objectives.
- Organizational Capability - Evaluating and adapting the structure of organizational units, jobs, and work processes to best fit the needs and/or support the goals of an organizational unit.
Learning and Applying Personal Expertise
- Applied Learning - Seeking and making the most of learning opportunities to improve performance of self and/or others.
- Technical Acumen - Understanding and utilizing professional skills and knowledge in a specific functional area to conduct and manage everyday business operations and generate innovative solutions to approach function-specific work challenges
- Economics and Accounting - Knowledge of P&L statements, operating budgets, forecasting and scheduling, and the reporting of financial data.
- General Finance and Accounting - The ability to perform bookkeeping procedures, proficiently use financial systems technology, and accurately complete general ledger entries; knowledge of database structures in order to obtain financial queries; establish Cash flow statements and cash flow forecast with a good understanding the financials flows and the working capital needs.
- Analysis - The ability to create and maintain spreadsheets as well as analyze and summarize financial data using appropriate financial software.
- Accounting Knowledge - Knowledge of general accounting principles and current company accounting policies and procedures. This includes general accounting and financial reporting, auditing, accounts payable, and accounts receivable.
- Accounting and Internal Control Knowledge - Knowledge of local Generally Accepted Accounting Principles (local GAAP), Marriott International Policies (MIP), and International Standard Operating Procedures (ISOPs).
- Legal - Ability to read and understand basic contract elements, e.g. royalty fees, management agreement, terms, priorities and profit distribution.
- Auditing Skills - The ability to perform auditing procedures, including the ability to recognize, research, and resolve discrepancies in financial data.
- Accounts Payable and Accounts Receivable - Knowledge of Accounts Payable and Accounts Receivable processes, including knowledge of subledger reconciliation and controls.
- Business Acumen - Understanding and utilizing business information (e.g., data used in the Marriott Balanced Scorecard related to Associate Engagement, Guest Satisfaction, and Property Financial Performance) to manage everyday operations and generate innovative solutions to approach business and administrative challenges
- Applied Business Knowledge - Evaluates market conditions, organizational objectives, and important aspects of the business to accurately diagnose market opportunities and threats; anticipates opportunities and threats, identify issues, and develop strategies and plans. Aligning individual and team actions with strategies and plans to drive business results.
- Management of Capital Resources - Determines the appropriate allocation of money used to accomplish work goals, and submits expenses according to guidelines; appropriately utilizes and maintains equipment, facilities, and materials needed to perform work activities.
- Administration and Management - Understands and applies the business and management information involved in strategic planning, resource allocation, human resources modeling, leadership techniques, production methods, and coordination of people and resources.
- Basic Competencies - Fundamental competencies required for accomplishing basic work activities.
- Basic Computer Skills - Using basic computer hardware and software (e.g., personal computers, word processing software, Internet browsers, etc.).
- Mathematical Reasoning - The ability to add, subtract, multiply, or divide quickly, correctly, and in a way that allows one to solve work-related issues.
- Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.
- Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
- Writing - Communicating effectively in writing as appropriate for the needs of the audience.
