Position Overview
The Drake Oak Brook, a historic luxury hotel and premier destination in the Chicago suburbs, is seeking an accomplished Director of Finance to lead the financial operations of the property and serve as a key member of the Executive Committee. This strategic leadership role is responsible for driving profitability, strengthening financial performance, ensuring compliance, safeguarding assets, and providing operational guidance that supports the hotel's long-term success.
The Director of Finance will provide consistent leadership in all financial aspects of the hotel, including accounting, budgeting, forecasting, cash flow management, internal controls, financial reporting, capital planning, and risk management. The ideal candidate is a hands-on leader with strong hospitality finance experience who can partner effectively with department leaders and ownership to drive results.
Key Responsibilities
Financial Leadership & Strategic Planning
- Lead all financial operations for the hotel, ensuring alignment with ownership, management company, and brand objectives.
- Serve as a trusted advisor to the General Manager and Executive Committee on all financial matters.
- Develop annual operating budgets, capital budgets, forecasts, and long-range strategic financial plans.
- Prepare monthly variance analyses and identify opportunities to improve revenue, productivity, cost controls, and overall profitability.
- Analyze financial results and operational performance to ensure achievement of financial goals and objectives.
Financial Reporting & Accounting
- Ensure the accurate and timely preparation of all financial statements in accordance with Generally Accepted Accounting Principles (GAAP), management company standards, and ownership requirements.
- Review and approve balance sheet reconciliations, bank reconciliations, and general ledger accounts.
- Oversee month-end and year-end closing processes.
- Monitor daily operating reports and ensure the accuracy of all financial reporting.
- Manage the preparation and presentation of financial information for ownership reviews and executive leadership meetings.
Cash Flow & Asset Management
- Effectively manage and communicate all cash flow related matters.
- Oversee accounts receivable, accounts payable, cash balances, banking relationships, and investment of operating funds.
- Ensure timely collection of receivables and proper management of payables.
- Safeguard hotel assets through strong financial controls and accountability measures.
- Monitor hotel operating forecasts and capital expenditures to ensure optimal financial performance.
Compliance, Controls & Risk Management
- Establish, monitor, and continually audit internal controls related to:
- Purchasing
- Cash handling
- Payroll
- Disbursements
- Inventory controls
- Fixed assets
- Employee records
- Master keys and security procedures
- Ensure compliance with all federal, state, and local regulations.
- Maintain all required licenses, permits, leases, contracts, and legal agreements.
- Oversee tax compliance, including sales, use, occupancy, and payroll taxes.
- Coordinate internal and external audits and provide timely responses to auditors and ownership representatives.
Business Partnership & Operations Support
- Partner with department leaders to improve financial performance and operational efficiency.
- Assist management teams in developing action plans to address financial opportunities and challenges.
- Provide financial training and guidance to department heads regarding budgeting, forecasting, labor management, and expense controls.
- Participate in strategic planning initiatives and capital investment decisions.
Team Leadership & Development
- Lead, mentor, and develop the Accounting and Finance team.
- Recruit, train, and retain high-performing associates.
- Conduct performance evaluations, coaching, counseling, and disciplinary actions as necessary.
- Foster a culture of accountability, collaboration, and continuous improvement.
Reporting Requirements
The Director of Finance is responsible for preparing and overseeing reporting requirements including, but not limited to:
Weekly
- Accounts Receivable Aging Reports
- Accounts Payable Aging Reports
- Flash Reports
- Payroll Analysis
- Revenue Updates
- Cash Position Reports
Monthly
- Financial Statements
- Forecast Reports
- Cash Flow Analysis
- Key Performance Metrics
- Variance Reports
- Balance Sheet Reconciliations
Annual
- Operating Budgets
- Capital Budgets
- Five-Year Strategic Plans
- Five-Year Capital Expenditure Plans
- Annual Audit Preparation
Qualifications
Required
- Bachelor's degree in Finance, Accounting, Business Administration, or related field.
- Minimum of 7 years of progressive hospitality finance and accounting experience.
- Minimum of 3 years in a Hotel Controller or Director of Finance role within a full-service hotel or resort environment.
- Experience leading and developing teams of four or more associates.
- Strong knowledge of hotel accounting practices, financial controls, forecasting, budgeting, and cash flow management.
- Excellent analytical, organizational, and problem-solving skills.
- Exceptional verbal and written communication abilities.
- Advanced proficiency in Microsoft Excel, Microsoft Office Suite, and hotel financial systems.
Preferred
- CPA, CMA, MBA, or other related professional certification.
- Preferred Experience with Marriott-branded hotels, Autograph Collection properties, or luxury hospitality environments.
- Experience working with ownership groups, asset managers, and management companies.
- Preferred Knowledge of Opera, BirchStreet, ProfitSword, Ramp and hotel PMS systems.
Compensation & Benefits
- Competitive base salary
- Quarterly performance bonus opportunity
- Medical, Dental, Vision, and Life Insurance
- 401(k) with company match
- Paid Time Off and Holidays
- Marriott Travel Benefits
- Professional Development Opportunities
Why Join The Drake Oak Brook?
The Drake Oak Brook is one of Chicagoland's most iconic hospitality destinations, combining historic elegance with modern luxury. This is an opportunity to join a high-performing leadership team and make a direct impact on the financial success and future growth of one of Illinois' premier hotels.
Pay: $70,000.00 - $100,000.00 per year
Benefits:
- 401(k)
- 401(k) matching
- Dental insurance
- Health insurance
- Health savings account
- Life insurance
- Paid time off
- Retirement plan
- Vision insurance
Work Location: In person
