Senior Financial Accountant - Concord Hospitality Enterprises, Raleigh, NC

Senior Financial Accountant

The Senior Financial Accountant plays a vital role in maintaining accurate and timely financial records for an assigned portfolio of properties. Reporting directly to the Centralized Controller, the role involves taking on a more advanced position including the posting of journal entries, managing accruals, and performing reconciliations to ensure the integrity of each hotel's balance sheets are maintained. This role is responsible for ensuring that all entries are properly supported, reconciliations are accurately maintained, and documentation is organized for audit purposes. Responsibilities also include financial analysis or direct communication with property owners, but the main focus is on the operational accounting processes and procedures of the hotels. In addition to core bookkeeping and reconciliation duties, the role requires demonstrating a deeper understanding of the financial impact of decisions that are made.

As a Concord Leader you will be responsible to:

• Inspire greatness in your team.
• Encourage and support team members to reach their full potential.
• Create a work environment that is a Great Place to Work for all.
• Lead with integrity, transparency, respect and professionalism.
• Care for your team and their families.

Responsibilities:

• Advanced Bookkeeping and General Ledger Maintenance: Manage the daily bookkeeping functions, including accurate and timely journal entries for a portfolio of properties, ensuring integrity across the general ledger. Record monthly accruals for property taxes, insurance, utilities, payroll, management fees franchise fees, utilities, etc. Reconcile and save applicable balance sheet and bank accounts monthly and quarterly, ensuring timely clearance of outstanding items. Maintain thorough and organized support for all journal entries and accruals, ensuring compliance with audit and corporate standards. Complete weekly cash positions and post necessary cash transactions to the ledger daily.
• Financial Analysis and Reporting: Analyze P&L statements, variance analysis, and financial performance reviews to gain experience in interpreting financial data and providing actionable insights. Provide initial analysis and commentary on financial discrepancies and trends for review by the Centralized Controller, helping to develop your analytical skills. Participate in financial review meetings, gaining exposure to the development of hotel financial strategies.
• Reconciliation and Compliance: Perform all the monthly/quarterly balance sheet reconciliations for assigned properties, ensuring each of the accounts are reconciled with appropriate supporting documentation, any discrepancies are addressed, in the month. Assist with internal, SOC and third-party audit preparation by providing accurate and comprehensive reconciliation documentation and supporting schedules. Provide assistance in gathering due diligence documentation for transitions such as property purchases, sales, or refinancing. Review hotel ledger reports, including the guest ledger, AR aging, and advanced deposit ledgers. Identify areas of concern or discrepancies in accordance with Concord policies and communicate these issues to your direct supervisor, as well as the Regional VP of Operations. If the issue remains unresolved after 30 days, escalate the concern to the SVP of Accounting.
• Leadership and Development: Take on a leadership role within the accounting team by overseeing Financial Accountants and providing guidance on more complex accounting tasks and reconciliations. Proactively identify opportunities for process improvements within the accounting workflow, collaborating with the Centralized Controller and Senior Leadership to implement enhancements that improve accuracy and efficiency. Provide training and support to the accounting team, sharing best practices for maintaining compliance and ensuring financial integrity.
• Collaboration and Owner Relations: Participate in owner relations calls, to understand owner expectations, provide financial data, and build relationships with property management and ownership. Assist the Centralized Controller/Senior Financial Accountant and hotel teams in preparing materials for ownership meetings, including financial reports, variance analyses, and operational updates.
• Professionalism and Conduct: Ensure compliance with Concord Operating Procedures (COPs) and maintain adherence to all corporate policies. Conduct yourself with a high level of professionalism and integrity, representing Concord Hospitality in financial discussions and communications. Participate actively in team meetings, providing insights based on your financial knowledge and helping drive collaborative solutions for operational and financial challenges.
• Other Duties: Manage and provide oversight to Financial Accountants, Jr. Staff Accountants and Accounting Assistants. Provide training and guidance to team members as needed. Perform additional tasks and special projects as assigned by the Centralized Controller or Senior leadership.

Payrange: $57,921-$72,401