Cluster Finance Assistant Manager

Job Description:

Cluster Finance Assistant Manager

Job Summary

The Cluster Finance Assistant Manager is responsible for supporting the Cluster Finance Controller in managing the full financial and accounting operations for a group or "cluster" of hotel properties. This role focuses on ensuring accurate and timely financial reporting, robust internal controls, and compliance with all statutory requirements, acting as a critical bridge between the central finance function and the individual property operations.

Key Responsibilities

1. Financial Reporting & General Ledger (GL)

• Monthly Closing: Assist in overseeing the month-end closing process for all cluster properties, ensuring timely and accurate posting of all revenue, expenses, and accruals.

• Financial Statements: Prepare and review monthly financial reports, including the Profit & Loss (P&L) Statement, Balance Sheet, and supporting schedules for management review.

• Reconciliations: Ensure all critical General Ledger accounts, bank accounts, and inter-company balances are reconciled promptly and accurately each month.

• Standardization: Ensure all properties within the cluster adhere strictly to the established financial policies, procedures, and chart of accounts (including USALI, if applicable, or GAAP/IFRS).

2. Budgeting, Analysis & Control

• MIS Reporting: Prepare comprehensive Management Information System (MIS) reports, including key performance indicators (KPIs) and variance analysis, comparing actual performance to budget and prior periods.

• Budget Support: Assist the Cluster Finance Controller in the preparation and consolidation of the annual operating budgets and periodic forecasts for the cluster.

• Cost Control: Monitor property-level expenses, particularly in high-cost areas like Food & Beverage (F&B) and payroll, identifying and flagging significant variances or cost-saving opportunities.

3. Statutory Compliance & Audit Support

• Tax Compliance: Assist in the preparation and timely filing of all statutory returns, including GST, TDS, and Income Tax compliance for the cluster.

• Audit Liaison: Serve as a key resource during internal and external audits, compiling required documentation, addressing auditor queries, and ensuring all observations are resolved.

• Internal Controls: Monitor the implementation of internal financial controls across all cluster properties, escalating control weaknesses and ensuring corrective action is taken.

4. Operational Finance

• Accounts Management: Oversee and review the accuracy of Accounts Payable (AP) and Accounts Receivable (AR) functions, ensuring efficient vendor payments and proactive collection of outstanding debts.

• Cash Flow: Track and report on daily/weekly cash flow movements for the cluster, ensuring adequate working capital is maintained.

• Asset Management: Maintain the Fixed Asset Register and ensure proper capitalization, depreciation, and physical verification of property assets.