Director of Finance

About the Role

The Ritz-Carlton is seeking a Director of Finance to function as the strategic financial business leader for its property in Riyadh. This full-time role involves developing and implementing property-wide strategies to meet brand and customer expectations, providing financial expertise for brand service strategy implementation, and maximizing return on investment. The Director of Finance will create and execute a business plan aligned with property and brand strategies, focusing on financial activities and delivering desirable financial results.

Key Responsibilities

• Develop methods to improve profit, including cost/benefit estimation and exploring new business opportunities.
• Analyze information, forecast sales against expenses, and create annual budget plans.
• Compile, analyze, and monitor actual sales against projected sales.
• Analyze differences between actual budget wages and forecasted wages for efficient budget planning.
• Identify underlying principles, reasons, or facts by breaking down information or data.
• Develop, execute, and implement new business plans creatively and practically.
• Create the annual operating budget for the property.
• Provide analytical support during budget reviews to identify cost-saving and productivity opportunities for property managers.
• Implement appropriate controls to manage business risks and ensure a strong accounting and operational control environment.
• Analyze financial data and market trends.
• Lead the development and implementation of a comprehensive annual business plan aligned with company and brand strategic direction.
• Provide ongoing analytical support by monitoring operating department's actual and projected sales.
• Produce accurate forecasts to enable operations to react to business changes.

Required Skills and Leadership

• Utilize interpersonal and communication skills to lead, influence, and encourage others, advocating sound financial/business decision-making.
• Communicate strategic goals, focus, and owner priorities clearly and precisely to subordinates.
• Leverage strong functional leadership and communication skills to influence the executive team and property strategies.
• Oversee internal, external, and regulatory audit processes.
• Provide leadership by assigning clear accountability and appropriate authority to team members and other department managers.
• Conduct annual performance appraisals with direct reports.
• Attend meetings and communicate with owners, understanding their priorities and strategic focus.
• Understand and meet the needs of key stakeholders (owners, corporate, guests).
• Advise the General Manager and executive committee on operating/financial issues.
• Communicate financial concepts clearly and persuasively to drive desired behaviors.
• Demonstrate an understanding of cash flow and owner priorities, managing communication with owners effectively.
• Manage property working capital and cash flow in accordance with brand standards and owner requirements.
• Facilitate critique meetings to review information with the management team.
• Ensure accurate documentation of Profits and Losses.
• Monitor all applicable taxes, ensuring they are current, collected, and/or accrued.
• Submit reports in a timely manner, meeting delivery deadlines.
• Develop and support achievement of performance goals, budget goals, and team goals.
• Improve profit growth in operating departments.
• Review audit issues to ensure accuracy and monitor the purchasing process as applicable.
• Generate and provide accurate and timely results in reports and presentations.
• Reconcile balance sheets to ensure account balances are supported by appropriate documentation.
• Ensure the P&L is accurate (*, costs matched to revenue, recorded in proper accounts).
• Ensure compliance with management contract, reporting requirements, and standard operating procedures.
• Ensure team members are cross-trained for successful daily operations.
• Ensure property policies are administered fairly and consistently.
• Ensure new hires participate in department orientation and receive appropriate training.
• Create development plans for team members based on strengths, needs, aspirations, and abilities.
• Conduct performance review processes for employees and participate in hiring activities as appropriate.

Experience and Qualifications

Candidates should possess 5-10 years of relevant experience in finance leadership. The role requires a demonstrated ability to lead by example, exhibiting honesty and integrity in all financial and business decisions.

Work Environment and Culture

The Ritz-Carlton, a Marriott International brand, is committed to being an equal opportunity employer. The company fosters an environment where the unique backgrounds of its associates are valued. As part of the team, the Director of Finance will uphold The Ritz-Carlton's "Gold Standards," including the Employee Promise, Credo, and Service Values, which guide the brand's reputation for luxury hospitality.