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1872 Consulting
AVP, Accounting - Hospitality Industry1872 Consulting • Chicago, IL, United States
AVP, Accounting - Hospitality Industry

AVP, Accounting - Hospitality Industry

1872 Consulting • Chicago, IL, United States
14 hours ago
Job type
  • Full-time
Job description

AVP, Accounting Hospitality Industry

This position oversees all activities related to supervising and managing the hospitality investments for a Private Equity firm. The role is responsible for overseeing a team for preparing, analyzing and reporting on the financial and operating results of the hospitality investments at the asset level, investment level and a consolidated level. You should be knowledgeable about real estate principles (GAAP, SEC).

What You'll Be Doing

  • Manages and oversees the daily operations of Hospitality Investment Reporting including overseeing and reviewing the month-end, quarter-end and year-end close processes such as account reconciliations, prior period adjustments and monthly journal entries, bank reconciliations, etc. to ensure accuracy and completeness.
  • Directly supervises the following positions: Senior Accountants, Accountants, Associates and Interns
  • Reviews and analyzes accounting data and produces Monthly Operating Reports such as P&L's, Balance Sheets, Budgets and Forecasts at the individual asset level and the consolidated portfolio level for the hospitality assets (BRE Hotels)
  • Reviews monthly portfolio forecasts and individual forecasts in conjunction with the BRE Hotels FPA team and/or BX asset manager
  • Reviews and loads the portfolio annual budgets and individual property budgets to X in conjunction with the BRE Hotels FP&A team and/or BX asset manager
  • Provides variance reporting to assess property performance relative to budgets or forecast
  • Leads onboarding and wind down efforts of acquisitions, dispositions and change of operators
  • Instrumental in the preparation of certain due diligence reports for potential dispositions or acquisitions
  • Conducts on site visits as necessary when onboarding or disposing a property
  • Reviews all capex draw requests and debt yield calculations prior to distribution to the lender
  • Reviews projects assigned to staff to ensure compliance, reporting accuracy and timeliness such as the debt reporting and the FF&E Draw submission
  • Serves as liaison with property operators and establishes meeting cadence to discuss important and timely topics
  • Ensures all hospitality property invoices paid at the corporate level are processed and paid timely
  • Enforces proper accounting methods, policies and principles
  • Provides recommendations to improve systems and procedures and initiate corrective actions
  • Ensures direct reports are handling processes in a like and efficient manner
  • Constructs reliable cash models to project an asset's future performance
  • Establishes and maintains fiscal files and records to document transactions
  • Assists in the preparation and review results of annual audit findings
  • Assists with developing and documenting business processes and accounting policies to maintain and strengthen internal controls
  • Interacts with internal staff, (such as Insurance, Tax and Treasury) and external service providers to complete assigned responsibilities
  • Incorporates anticipated demand, driven by company initiatives and business conditions to ensure required capacity and skills will be available in the future
  • Assesses and reacts to changing business conditions, in terms of their impact the organization they lead
  • Ensures team's processes and procedures support the department's goals according to guidelines and policies
  • Partners with senior managers to identify and drive external relationships with the team's key contacts and stakeholders including third party accounting departments and third-party operators accounting teams
  • Assists other PC's during Project initiatives on an as-needed basis

Required:

  • Bachelor's Degree with a major in Finance, Accounting or closely related field
  • 7+ years of experience in cost accounting, financial analysis and general accounting
  • 5+ years managing accounting for a hospitality company
  • 2+ years of experience managing direct reports

Preferred:

  • Master's Degree
  • CPA certification
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AVP, Accounting - Hospitality Industry • Chicago, IL, United States

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