DIRECTOR OF FINANCE

1. To know all terms and conditions of the management agreement and to ensure that they are adhered to.

2. To maintain complete and supported accounting records of the hotel as per the Company’s policies and procedures.

3. To implement local accounting procedures to ensure compliance with local government regulations, after approval from the area / or corporate offices.

4. To prepare and interpret the financial statements and reports of the hotel.

5. To audit the accounts, records, and transactions of the hotel, aided by ongoing efforts to streamline internal control procedures.

6. To implement all necessary controls to safeguard the assets of the hotel and to maintain records for the fixed assets, operating equipment, supplies and inventories.

7. To ensure that physical inventories of all supplies are being taken monthly and of all operating equipment on a quarterly basis.

8. To assist in compiling, together with the General Manager and Heads of Department, all budgets and forecasts covering all activities of the hotel and to maintain all budget control procedures.

9. To assist in the administration of credit and collection procedures, which are in fact the responsibilities of the General Manager.

10. To understand Banyan Tree and/or hotel tax obligations, using the assistance of locally appointed auditors or tax experts.

11. To obtain the requisite licenses for foreign exchange dealings, imports, liquor, swimming pools, entertainment and so forth from the appropriate regulatory agencies.

12. To review and ensure proper procedures and controls of purchasing, receiving, storing, and requisitioning functions, i.e., Materials Management functions.

13. To administer and control cash management, which includes investing in time deposits in banks approved by Banyan Tree, as well as obtaining overdraft facilities whenever necessary.

14. To liaise with both internal and external auditors in compliance with the Company’s requirements.

15. To administer the IT section and ensure that the hotel computer system and its software are fully utilized, well safeguarded, and properly maintained.

16. To keep and safeguard all contracts, leases, insurance policies, licenses, and all legal and financial documents.

17. To administer Banyan Tree and hotel insurance matters in conjunction with the locally appointed insurance agent.

18. To assist the General Manager in the compilation of all the departments’ written policies and procedures into the hotel’s own in-house policy manual.

19. To manage the staffing of the Accounting Department, liaising closely with the hotel’s Director of Human Resources and with the approval of the General Manager. Staffing management involves the selection, employment, supervision, transfer, review, promotion, and dismissal (with due cause) of individuals within the Accounting Department.

20. To implement appropriate training programs in computing/accounting/finance in conjunction with the Training Manager and to develop Departmental Trainers in the Accounting Department.

21. To maximize productivity and morale by setting goals, providing clear guidelines and by developing team spirit.

II. Operationally and Commercially Responsible:

1. To prepare financial and other information to aid the decision-making process of operations.

2. To interpret and use the information for the maximization of the profit potential of operations.

3. Budgeting – to use annual profit, history trend, capital, cash, and any other short-term (one year) plan for hotel in a format set by head office.

4. Variance Analysis – to report in a format on the actual performance compared to plan and/or forecast with appropriate commentary explaining causes, effects, and remedial actions being taken to achieve the plan.

5. Short-term Forecasting – to prepare the monthly profit forecast for the next 3 months compared to the plan after discussion with General Manager and concerned department heads.

6. Long-term projecting and Strategic planning – to prepare the annual operating budget and 5-year rolling budgets.

7. Capital Review – to review and approve all investment proposals including capital expenditures, FF&E, and large-scale investments, such as extensions and major refurbishment or/and renovation.

8. New Developments and Acquisitions – to prepare, review, and involve in the production of financial relevant data for new developments and acquisitions.