Market Director of Finance – Premium

Job Number

Job Category Finance & Accounting

Location Madrid Regional Office, Paseo del Club Deportivo 1 Ed. 17, Madrid, Madrid, Spain

Schedule Full-Time

Located Remotely? N

Relocation? N

Position Type Management

POSITION SUMMARY

The Market DOF is to provide strategic financial leadership in achieving profit, cash flow, and key performance goals while further enhancing owner, relationships and managing Marriott Investments in the designated countries. Partner with Market VP and VP Operations Finance to help make optimal business decisions for the designated properties/brands in the EMEA Continent. Provide a strategic perspective and use sound financial skills and business acumen to identify profitable opportunities, anticipate challenges, and create competitive breakthrough strategies, while ensuring a controlled financial environment and protecting and strengthening Marriott's competitive advantage.

SCOPE

The Market DOF provides support to the owned / leased managed properties in their Area and in addition properties under development.

• Location requirements: The Market DOF to be located in Turkey but does not need to be a Turkish Passport Holder, this position offers a competitive compensation offer.
• Language Requirements: High proficiency (speaking, reading and writing) in English, it is preferable to have a second language.
• Travel Requirements: 50 – 80% with a base in assigned location within the Continent.

BUSINESS CONTEXT

• High owner involvement.
• Increasing competition in the marketplace.
• Manage capital spending to ensure increase in market share.
• Support on-going property renovations.
• Manage risk exposure and protect owner & MI investment.
• May be a high amount of time spent traveling.

Leadership Competencies

Financial Business Leadership

Leverage strong financial expertise to enable the successful implementation of the hotel strategy and brand initiatives. Demonstrate a thorough understanding of the lodging business (hotel operation, industry drivers, challenges, competitors, and brand's position in the global market place) and assert leadership to influence the strategic direction of the operation, unveil opportunities for growth, optimize allocation of financial resources, and drive business results. Focus on maximizing the property's top revenue line by supporting the development of revenue generating strategies for rooms and other areas of the hotel. Manage the bottom profit line by educating leaders on sales and profit maximization and implications of business decisions and providing analytical decision support and tools.

Financial and Accounting Management

Effectively manage the execution of finance and accounting responsibilities for the area including development of the annual business plan and operating budget, forecasting, internal controls, financial analysis, cash management, balance sheet reconciliation, financial reporting, P&L accuracy, capital expenditure budget, etc. Provide strong technical expertise and direction, ensure appropriate controls are in place to manage business risks, manage through reliable systems and processes, and work through own team and influences other department managers to drive results.

Human Resources

Hire, develop, and retain a diverse hourly and management workforce to provide strong functional expertise, creativity and effective financial and entrepreneurial leadership to the property and the discipline. Creates and sustains a work environment that embraces the brand's culture, ensures fair and equitable treatment, and ensures employee satisfaction to enable business success.

Owner Relations

Develop and maintain a trusting and effective business partnership with property ownership by understanding the management contract, the owner's perspective, and return on investment (ROI) expectations. Manage an effective balance between the owner's and Marriott International's interests and develop solutions that meet expectations and create value for both.

Technical Expertise (Learning and Applying Personal Expertise)

The following are specific responsibilities and contributions critical to the successful performance of the position:

• Facilitate the business planning processes (LRP, operating and capital budgets, forecast, risk assessment), standard reporting processes (working capital, month end reporting, annual statement of operations, etc.), and compliance with local tax, financial, accounting regulations, and management agreements.
• Provide direction and support to ensure compliance on balance sheet analysis/certification, hotel audits and internal control standards, P&L reviews, cash flow forecasts, technical accounting, financial systems and reporting, and financial analysis (pro forma, project analysis, business cases, etc.).
• Lead the execution of finance and accounting responsibilities across multiple sovereign jurisdictions and in different currencies, including: budgeting and forecasting, controls, financial analysis, cash management, balance sheet, financial reporting and systems, P&L, CAPEX, owner returns, financial risk management.
• Executes strategies and actions to increase return on invested capital. Leads and facilitates the management of cash flow, capital, and overall expenses to obtain highest value.
• Identify risk exposure and effectively leverages the organization (Continent team, Asset Management team, Corporate, etc.) as appropriate to manage business and financial risk to create and preserve value.
• Manages MI's presence in the different sovereign jurisdictions, which may include JV, entity structure, tax planning and compliance, continent international business structure, property based financial systems, shared services, and other line of businesses, e.g. cluster sales organizations, Residences, casinos, etc.
• Assist Continent CFO and VP Operations Finance in development activity in the designated countries (e.g. identify market opportunities and formulate plans, monitor and modify pro-formas, lend financial strategic support to optimize growth, etc.).
• Work with Continent CFO and VP Operations Finance and the property team to develop pre-opening and working capital budgets and other pre-opening activities relating to finance and accounting.
• If applicable, ensure full understanding of Marriott Owned/Leased Hotels, ensure any P&L risks are proactively managed and identified. At hotel level proper processes are in-place to ensure fixed assets are being appropriately retired as per disposition/depreciation schedule.
• Is a strategic business partner to the AVP, Regional/Area Team and Marriott Business Services (MBS) by providing financial leadership and strategic perspective in developing and monitoring business plans to achieve profit and growth objectives.
• Implement appropriate metrics and controls to manage business risks. Ensure strong accounting and operational control environment to safeguard assets, improve operations, profitability, and ROIC.
• Ensure strong owner relationships in the designated countries by understanding the owners' perspectives & ROI expectations, proactively anticipating and addressing needs, and managing an effective balance between the owner's and MI's interests by developing solutions that create value for both.
• Attract and develops diverse, high-caliber talent that makes a strong positive impact on the organization. Partner with the Continent CFO, AVP and VP Operations Finance to develop strategies for succession planning and career development.
• Deliver financial training to hotel teams to comply with Marriott International policies and procedures (e.g. training on how to read P&Ls).
• Use technical expertise and understanding of global and local economy, laws, regulations, foreign exchange and tax issues and their potential business impact to devise strategies to manage financial risk and grow the business.
• Understand how hotel operation systems and financial systems interface to increase productivity.
• Utilize Marriott Global Source to stay updated on company information as well as an information resource.
• Perform management agreement synopsis annually and ensure incentive fees are updated and notifications are sent out.
• Monitor property financial reporting for accuracy, timing, and contents.
• Advise General Managers, Hotel DOFs, Corporate, MBS, Owners, Continent Team members on business issues, challenges & opportunities, and performance.
• Take a proactive role during individual and property visits providing trouble shooting for respective property costs, internal controls, revenue opportunities, brand standards, balance score card, etc.
• Effectively communicate with hotel DOFs (e.g. benchmarking results, sharing best practices, and use of technology).
• Pursue initiative and innovation to improve overall companies systems, processes, and industry competitiveness.
• Perform other duties as assigned to meet business needs.
• Support all designated hotel brands in the Area.

CANDIDATE PROFILE

Experience

• 10 years progressive financial management experience with at least 2 years in the field, Lodging/hospitality knowledge preferred

Skills and Knowledge

• Demonstrated leadership ability
• Excellent verbal, writing, listening, and presentation skills
• Experience working in an international environment and with International SOPs and MIPs
• Excellent finance, accounting, and analytical skills, including experience with cash management, forecasting, revenue management strategies, capital expenditure planning and budgeting, and project management
• Experience evaluating business trends, and developing and successfully implementing new business programs and strategies that enhance financial performance in a complex multidimensional operating environment
• Experience in owner relations is required
• Previous responsibility for multi-site properties and geographical knowledge
• Knowledge of legal contracts and management agreements
• Knowledge of internal controls
• Effective understanding of Marriott Headquarter processes and be able to work with diverse entity, tax and legal teams.
• Effective in developing relationships
• Experience with complex operating and financial agreements; demonstrated success in evaluating risks and developing proactive strategies and plans to mitigate business issues
• Ability to interpret objectively property management agreements and the cash flow distribution
• Knowledge of hotel systems; use of systems and for purchasing decisions, how systems help the company
• Knowledge of the tools Marriott provides for forecasting, budgeting, etc.
• Interpersonal relationship skills for LPAs, manpower planning, hotel visits, decision making, etc.
• Supporting and supervising DOFs across various countries with different languages

Education or Certification

• Bachelor's degree in Accounting or Finance or equivalent required
• MBA or equivalent preferred
• CPA or equivalent preferred

Marriott International is an equal opportunity employer. We believe in hiring a diverse workforce and sustaining an inclusive, people-first culture. We are committed to non-discrimination on any protected basis, such as disability and veteran status, or any other basis covered under applicable law.

Marriott International is the world's largest hotel company, with more brands, more hotels and more opportunities for associates to grow and succeed. Be where you can do your best work,​ begin your purpose, belong to an amazing global​ team, and become the best version of you.