Financial Controller

Job title: Financial Controller

Company: The First Group


Job description: Overview:Over the past two decades, The First Group has forged a reputation as one of the hospitality industry’s leading innovators, providing groundbreaking investment opportunities to clients and partners, while delivering exceptional, memorable experiences to hotel and leisure guests. Our corporate ethos and unique vision for the future of hospitality is encapsulated in our fast-growing portfolio of award-winning hotels and residences, exciting F&B outlets and lifestyle venues, and delivered through our array of complementary .Core to our vision for the future of hospitality is The First Collection, our award-winning hotel brand that reflects the rich culture, innovative spirit, and unparalleled refinement for which Dubai is famous for. The First Collection’s urban lifestyle resorts, situated in prime locations across Dubai, are renowned for their unique blend of world-class hospitality and modern flair, as well as their cutting-edge guest facilities and services, which include exclusive access to the stunning Soluna Restaurants and Beach Club, located on the world-famous Palm Jumeirah.Every hotel in our fast-growing portfolio reflects our ambition to capture the essence of urban living, blending it seamlessly with the tranquillity of a serene getaway.The First Collection echoes the city’s heartbeat, ensuring all our guests are made to feel a part of the magnificent tapestry of Dubai, the world’s most exciting metropolis. Job Description:Under the strategic direction of the Group Director of Finance, Hospitality at TFG, and in compliance with TFG HMC policies, procedures, and local regulations, the Financial Controller is responsible for leading and overseeing the Accounting Department. This role provides financial guidance to the Executive Committee and Department Heads and liaises with key external stakeholders, including legal counsel, insurance providers, tax consultants, auditors, and financial institutions. The Financial Controller ensures robust financial management, safeguarding business assets while supporting operational excellence, and fostering a culture aligned with TFG HMC’s core values: Trust, Integrity, Respect, One Team, and Service.

• Provides financial guidance in the development and implementation of the Strategic Plan, Budget, and Key Performance Objectives (KPOs).
• Maintains accurate cash flow projections and optimizes hotel cash flow performance by managing inventory, credit and collections, disbursements, deposits, and remittances.
• Manages surplus cash to maximize earning potential.
• Prepares financial outlooks for upcoming months and forecasts for the remainder of the year.
• Compiles monthly financial reports comparing actual results to budget, analyzes variances, and recommends corrective actions to the Executive Committee to achieve budget goals.
• Facilitates the preparation and completion of the Annual Budget.
• Distributes financial outlooks and forecasts as actionable management tools for operational departments.
• Implements, reviews, and enhances financial controls and policies to ensure compliance and efficiency.
• Communicates financial performance and strategies effectively with property owners.
• Analyzes financial and management reports to identify areas for improvement and operational alignment.
• Designs and maintains internal reporting systems to support departmental and organizational requirements.
• Evaluates and improves internal control measures for accounting processes and IT systems in line with TFG HMC policies and procedures.
• Ensures proper authorization and adherence to payment procedures.
• Manages internal and external audits, ensuring compliance and timely resolution of findings.
• Provides administrative support to management regarding policy enforcement, operational guidance, and strategic advice.
• Identifies training needs, develops structured training programs, and conducts sessions for accounting and operational staff in coordination with other departments.
• Identifies team members with potential for promotion or transfer within the Accounting function.
• Consults with legal counsel to ensure compliance with local laws, regulations, and best business practices.
• Safeguards contracts, leases, and other financial records, ensuring secure storage and controlled access.
• Monitors capital expenditures to ensure alignment with approved justifications and organizational policies.
• Participates in professional and industry organizations to stay informed of trends and best practices.
• Recommends and maintains an updated delegation of authority framework for hotel management.
• Conducts monthly inspections and audits to ensure all departments comply with established financial procedures.
• Performs responsibilities as outlined in the control checklist issued by the Group Director of Finance and Vice President for TFG HMC.
• Implements and upholds accounting practices and procedures consistent with TFG HMC policies, generally accepted accounting practices (GAAP), and local requirements.
• Oversees and evaluates local banking arrangements to ensure operational efficiency.
• Reviews operating equipment inventories to prevent excessive or unnecessary purchases and identifies slow-moving or obsolete items.
• Ensures all accounts are reconciled monthly, reviews reconciliations, and approves final reports.
• Completes additional tasks as assigned by the Group Director of Finance or Vice President for TFG HMC.

Desired Skill & Expertise:

• Bachelor’s degree or higher education qualification in Finance or a related field, or an equivalent combination of education and professional experience.
• A minimum of four years of experience in a hospitality or hotel setting, or a comparable combination of education and work experience.
• Proficient in SunSystems and its Q&A reporting tool.
• Advanced proficiency in Microsoft Excel.
• Strong capabilities in analytical thinking, strategic planning, and financial reporting.
• Extensive expertise in financial controls, audit management, and compliance.
• Exceptional interpersonal and communication skills, with the ability to engage effectively with diverse stakeholders.
• Proven track record in leading and developing high-performing teams.

Expected salary:

Location: Dubai

Job date: Sat, 11 Jan 2025 08:54:38 GMT

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