Assistant Director of Finance

Highgate is a leading real estate investment and hospitality management company with over $15 billion of assets under management and a global portfolio of more than 400 hotels spanning North America, Europe, the Caribbean, and Latin America. With a 30-year track record as an innovator in the hospitality industry, Highgate provides expert guidance through all stages of the property cycle, from planning and development through recapitalization or disposition.

Park Lane New York, situated on Billionaires’ Row – home to the world’s most coveted addresses on Central Park South – has been completely reimagined as a departure from its neighbors and serves as a unique and inclusive retreat within walking distance of the city’s cultural hubs including Lincoln Center, Carnegie Hall, 5th Avenue shopping, and the Museum of Modern Art. The 47-story property features 610 rooms – nearly half of which provide sweeping park-facing views – and 11,000 square feet of reimagined indoor and outdoor event space. A fitness center perched on the fifth floor offers state-of-the-art equipment and its own separate outdoor terrace. The reimagined hotel features three new food & beverage venues including an 80-seat lobby bar with an outdoor promenade, an intimate restaurant on the second floor, and Central Park South’s only rooftop lounge atop the hotel.

About the role

The Assistant Director of Finance is responsible for providing consistent leadership in the financial area of the hotel by supplying the accounting staff with guidance and training. They focus on the profitability of the business, maintaining accurate and timely financial reporting, ensuring acceptable levels of internal control, ensuring compliance with all federal, state, and local regulations, and safeguarding owners/investors assets.

Responsibilities

• Assist Director of Finance in timely preparation of monthly financial statements for the property.
• Prepare, monitor, and accurately record hotel revenues daily by preparation of the Income Journal. Identify all variances to budget and last year.
• Monitor and control hotel operations, cash flow, and operating forecasts for the property.
• Under guidance of Director of Finance, maintain timely interaction with Department Heads to assure that property operations are on track and under control at all times.
• Prepare monthly bank reconciliations and general ledger account reconciliations for the property.
• Supervise accounting department staff.
• Ensure compliance with Highgate Accounting Policies and Procedures and internal controls for finance and accounting operations.
• Effectively manage and communicate issues related to receivables, payables, daily cash balances, and timely deposits of all funds.
• Monitor hotel revenues and expenses and ensure accurate recording in accordance with Highgate Hotel’s established guidelines.
• Investigate and critique variances to budget or prior year and offer practical improvement methodologies to management.
• Analyze financial data and operations to assist Director of Finance and advise Department Heads in maintaining the hotels’ financial objectives.
• With supervision of Director of Finance, hire, train, supervise, and develop staff, including coaching, counseling, and discipline.
• Prepare any special reports, statements, etc., as requested.
• Handle other special projects and responsibilities as assigned.

Requirements

• Bachelor’s Degree, preferably in Accounting.
• Strong PC skills including Excel, Word, and financial accounting systems.
• Strong organizational, analytical, verbal, and written communication skills.
• Willingness to work long hours when required.
• Hospitality-related financial management and accounting experience desirable.