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Assistant Director of Finance

Loews Regency New York Hotel has a legacy of luxury - expertly orchestrated and masterfully performed. Located in midtown Manhattan, the property seamlessly blends its iconic Art Deco design with modern sensibilities, craftily merging form and function to compliment 50 years of service expertise. Welcome to our Park Avenue Allure.

This position provides support to the Director of Finance in providing continuous leadership and guidance in matters relating to the financial operations of the hotel by: providing accurate and timely financial reports to assist management decision making process, maintaining acceptable internal control procedures designed to safeguard owners/investors assets, ensures compliance with all Federal, State, Local regulations. Additional responsibilities include; staffing, training, scheduling of employees; planning organizing, directing and coordinating all department activities to ensure efficient operation.

Essential Functions and Responsibilities

  • Manages/oversees the accounting and receiving/storeroom department to ensure optimal efficiency of financial operations and adherence to Loews commitments to management contract
  • Directs or prepares all financial information required at FSC by accounting department including audit, accounts payable, payroll etc. 
  • Prepares all financial reports including P&L and supplemental reporting to Loews, ownership, bank etc.
  • Interprets and analyzes monthly financial statements and presents to management
  • Review forecasts according to the established schedule, for distribution of operational information necessary to assist management in decision-making in cost and payroll control
  • Monitors revenues/expenses and ensure accurate recording of information to Loews established guidelines
  • Compiles financial data related to operations, investigate and critique variances from expectations to determine cause and recommend appropriate management response to insure attainment of hotels financial objectives
  • Evaluates and determines course of action to improve hotel’s performance on FSC scorecard
  • Establishes and oversees /audit all internal financial controls to include purchasing, cash handling, receipts, disbursements, expendable/fixed asset inventories, payroll and employee records to insure policies are enforced according to Loews standards
  • Coordinates annual internal and external audit processes
  • Assists Director of Finance in preparation of annual profit plan
  • Assists Director of Finance in the capitol planning process
  • Assists division and department heads in the preparation of their respective budgets
  • Maintains files, pertaining to and ensuring compliance with, insurance policies, all contracts and legal agreements
  • Ensures proper, timely payment of fees for licenses, permits, regulatory contracts and insurance’s, all taxes
  • Attends various departmental meeting’s in order to maintain effective working relationships with operational departments and staff
  • Approves as needed all purchase orders, payroll submittals, accounts payable invoices, cash transfers to owners, manual checks, balance sheet and bank reconciliation's, month end journal entries, bad debt write-off’s, all Loews inter-hotel and corporate charges
  • Directs cash management activities to ensure the proper use and timely availability of funds
  • Conducts/oversees monthly audit of General Cashiers vault
  • Interviews, selects, trains, appraises, coaches, counsels and disciplines accounting personnel according to Loews standards
  • Follows New Hire Training and on-going Star Service Competency programs in accordance with hotel policy
  • Evaluates individual employee performance, determines areas in need of improvement or requirements for advancement, establishes goals, objectives and training needs required to achieve same
  • Participates in MOD program as required
  • Other duties as assigned
  • Regular attendance in conformance with standards
  • May be required to work varying schedules to reflect business needs
  • Required to attend all training sessions and meetings

Supportive Functions and Responsibilities

  • Promotes and applies teamwork skills at all times
  • Notifies appropriate individual promptly and fully of problems and/or unusual matters of significance
  • Executes emergency procedures in accordance with hotel standards
  • Complies with required safety regulations and procedures
  • Attends appropriate hotel meetings and training sessions
  • Complies with hotel standards, policies and rules
  • Recycles whenever possible
  • Remains current with hotel information and changes
  • Complies with hotel uniform and grooming standards
  • Other duties as assigned

Qualifications

  • Extensive knowledge of computer based front and back of house Accounting Management Systems
  • Prolific in Windows, Lotus/Excel and MS-Office software operating systems and applications
  • Proficiency in Evention and Addaco
  • Ability to assemble, analyze, understand and present integrated spread sheets and complex technical information to all levels of management
  • Organization/prioritization skills necessary to meet deadlines
  • Effective management, leadership, organizational and communications skills
  • Working knowledge of basic office equipment, i.e.; fax, copiers, printers, calculators
  • Ability to work flexible schedule to include weekends and holidays
  • Must be willing to relocate to be considered for this position

Education:

  • Bachelors or higher degree in Accounting/Finance or equivalent experience

Experience:

  • Four to six years progressive experience in managing Hospitality Accounting operations

Salary Range 93k-105k

Salary range for this position, based on experience, is $84,000.00 to $105,000.00.

Average salary estimate

$94500 / YEARLY (est.)
min
max
$84000K
$105000K

If an employer mentions a salary or salary range on their job, we display it as an "Employer Estimate". If a job has no salary data, Rise displays an estimate if available.

What You Should Know About Assistant Director of Finance, Loews Hotels & Co

Join the esteemed Loews Regency New York Hotel as our next Assistant Director of Finance! This role is not just about balancing numbers; it's about contributing to a legacy of luxury and providing the financial insight that helps shape exceptional hospitality experiences. Located in the heart of Midtown Manhattan, our hotel beautifully marries Art Deco elegance with modern functionality, and we're seeking someone who can uphold our commitment to excellence. As the Assistant Director of Finance, you'll work hand-in-hand with the Director of Finance, ensuring that our financial operations run smoothly. You'll be responsible for creating comprehensive financial reports, supervising accounting functions, and maintaining internal control procedures to safeguard our assets. Your analytical abilities will shine as you interpret monthly financial statements and collaborate with management to refine budgets and forecasts. Additionally, your leadership will help train and schedule employees to operate effectively across our departments. If you have a passion for finance and a dedication to the hospitality industry, this is your opportunity to thrive in one of New York’s most iconic hotels and enhance our financial landscape. Let's keep the tradition of excellence alive together!

Frequently Asked Questions (FAQs) for Assistant Director of Finance Role at Loews Hotels & Co
What are the main responsibilities of the Assistant Director of Finance at Loews Regency New York Hotel?

As the Assistant Director of Finance at Loews Regency New York Hotel, you’ll oversee the accounting department, direct financial reporting, ensure compliance with regulations, and train staff. You’ll play a pivotal role in financial decision-making by providing timely reports and analyzing financial data to enhance hotel performance.

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What qualifications are required for the Assistant Director of Finance position at Loews Regency New York Hotel?

To qualify for the Assistant Director of Finance role at Loews Regency New York Hotel, candidates should possess a Bachelor’s degree in Accounting or Finance, along with four to six years of progressive experience in hospitality accounting operations. Proficiency with financial management systems and strong analytical skills are essential.

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How does the Assistant Director of Finance at Loews Regency New York Hotel contribute to regulatory compliance?

The Assistant Director of Finance at Loews Regency New York Hotel ensures compliance with all Federal, State, and Local regulations by maintaining accurate internal control procedures and overseeing audits. Your role includes confirming that all financial operations adhere to established standards, thereby promoting transparency and accountability.

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What financial reporting does the Assistant Director of Finance at Loews Regency New York Hotel prepare?

In the role of Assistant Director of Finance at Loews Regency New York Hotel, you will prepare financial reports, including P&L statements and supplemental reports required by ownership and banks. Your ability to present this information effectively is crucial for assisting management in strategic decision-making.

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What is the salary range for the Assistant Director of Finance position at Loews Regency New York Hotel?

The salary range for the Assistant Director of Finance at Loews Regency New York Hotel is competitively set between $84,000 to $105,000 per year, depending on experience. This reflects our commitment to rewarding talented professionals in the hospitality finance sector.

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Common Interview Questions for Assistant Director of Finance
Can you explain your experience with financial reporting as the Assistant Director of Finance?

When discussing your experience with financial reporting, highlight specific reports you've prepared, the tools you’ve used, and the impact of your reporting on management decisions. Showcase your analytical skills and ability to present complex data clearly.

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How do you ensure compliance with financial regulations in the hospitality industry?

Explain your understanding of compliance standards in hospitality, including how you’ve implemented internal controls. Discuss experiences where you ensured adherence to Federal and State regulations and how these efforts benefited the overall financial health of the organization.

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What strategies do you use to train and manage accounting staff effectively?

Discuss your approach to leadership, including training methods, mentorship, and performance evaluation. Share successful examples of how you’ve developed team members' skills and improved departmental efficiency successfully.

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Describe a challenging financial situation you faced and how you handled it.

Share a specific example where you identified a financial issue, what steps you took to address it, and the outcome. This will demonstrate your problem-solving abilities and resilience in handling financial challenges.

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What financial software are you familiar with, and how have you used it in your previous roles?

List specific software you have experience with, such as Evention or Addaco, and describe how you utilized these tools for financial reporting, budget management, or forecasting in your previous roles.

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How do you prioritize financial tasks during busy periods at a hotel?

Discuss your organizational skills and the techniques you use to prioritize tasks effectively. Provide examples that showcase your ability to meet deadlines while maintaining accuracy in a fast-paced environment.

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Can you explain how you analyze financial statements for decision-making?

Detail your analytical process when reviewing financial statements, illustrating how you identify trends, variances, and insights that influence business decisions. Highlight your contribution to enhancing hotel performance through data-driven recommendations.

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What role do you think the Assistant Director of Finance plays in budget preparation?

Discuss the critical role you play in working with department heads to prepare and review budgets, ensuring they align with overall financial objectives while projecting accurate expenses and revenues for the hotel.

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How would you handle disagreements within the finance team?

Provide a thoughtful approach to conflict resolution, emphasizing the importance of open communication, active listening, and finding common ground to ensure productive teamwork.

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What is your approach to maintaining internal financial controls?

Explain your methodology for establishing and auditing internal financial controls, emphasizing adherence to Loews standards and how these controls protect assets and ensure compliance within the hotel.

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Loews Hotels & Co aspires to Welcome You like Family, meaning we care for you just as we care for our own. Our culture is rooted in providing an inclusive environment for all team members, guests, partners and neighbors, one where we treat everyo...

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Full-time, on-site
DATE POSTED
April 16, 2025

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