Title: Cluster Financial Controller & FC
About IHCL
Indian Hotels Company Limited (IHCL) is a part of the Tata Group and is one of South Asia's largest and most iconic hospitality companies. With a legacy of over 120 years, we are dedicated to delivering exceptional experiences to our guests through our diverse portfolio of hotels, resorts, and palaces.
Careers at IHCL
At IHCL, we believe our employees are our greatest asset. We are committed to fostering a dynamic work environment that encourages innovation, collaboration, and personal growth. Join us in creating memorable experiences and shaping the future of hospitality. Explore exciting career opportunities with us and be a part of a vibrant team that values passion, excellence, and diversity.
Job Objective
• To manage all aspects of the finance and accounting functions of the hotel, maintain the financial reporting norms with a view to maximize profitability and achieve desired financial results. Ensure implementation of the company's accounting policies and processes, RCM - Risk Control Management and compliance with taxation, commercial, and statutory norms.
• Additionally, as part of the Cluster Role, need to do coaching, mentoring, and guiding of the colleagues who are handling units in the Region/Cluster.
Essential Job Tasks
Implementation of the company's accounting policies and processes, RCM - Risk Control Management and complying with taxation, commercial and statutory norms both at the hotel level and at the area level.
Areas of Responsibility
1. Budgeting and Planning
• Guide and direct the budgeting process for Capital Expenditure and Operational performance for the year with revenue projections duly aligned with business strategy and justifying each and every cost head.
• Assist in strategy formulation for the Hotel in order to achieve greater profitability.
• Budgetary control to ensure desired financial performance with an emphasis on profit maximization and cash flow through revenue enhancement and strict expenditure controls.
• Set specific targets for Inventory, debtors, and creditors levels and periodic ageing review to keep the same at minimum levels.
• Leads the development and implementation of a comprehensive annual business plan which is aligned with the company’s and brand’s strategic direction.
• Analyzes financial data and market trends.
• Provides analytical support during budget reviews to identify cost saving and productivity opportunities for property managers.
• Produces accurate forecasts that enable operations to react to changes in the business.
• To assist area directors by coordinating with the hotel team in the region for budget preparation as per guidelines and discussion.
2. Financials and Reporting
• Assumes responsibility for preparing and presenting all MIS reports to develop a more informative database for improved management decision making and critical evaluation of activities.
• Monitors cost and profit performance of all Departments regularly and provides recommendations / suggests corrective action.
• Ensure the daily and monthly FC checklist is diligently filled and all tasks are performed in timelines.
• Informs and advises the Department heads in areas of financial performance, cost-benefits analysis, cost management.
• Reconciles balance sheet to ensure account balances are supported by appropriate documentation in accordance with policies of the organisation.
• Ensures compliance with management contract and reporting requirements.
• To have a monthly review of performance along with the cluster team for the hotels in the region and raising necessary alerts for corrective action by the hotel team.
3. Audit & Statutory Compliance
• Reviews audit findings - Safety/Hygiene and TPAM (Taj Positive Assurance Model) and takes corrective measures to ensure full compliance.
• Set up a review system to comprehensively cover all areas of financial performance and statutory compliance.
• Prepares the internal audit checklists as per the IHCL Safety Guidelines.
• Adheres to all departmental legal compliances.
• Ensures that the terms of the Operating agreement with Partners are duly complied with in all respects.
• Implements the latest amendments in commercial laws, tax structures and other developments in the financial world and ensuring that all litigations are handled diligently in line with corporate guidelines.
• Ensures deposition of all taxes and statutory dues in a timely manner and filing of all returns within due dates.
• Ensures compliance of all statutory and internal audit procedures and implements corrective actions as brought out by the audit observations.
• To review the quarterly ICFR Checklist of the hotel and also coordinating the closure of daily/monthly exceptions checklist.
Required Qualifications
Chartered Accountant (CA), Masters in Commerce or Finance (M.Com./MBA) or equivalent.
Work Experience
14 - 18 Years.
Languages Needed in Position
English
Key Interfaces- External
Vendors, Law Firms, Consultants, Auditors and Others
Key Interfaces- Internal
Finance function, all departments, Corporate Office, Regional Office, compliance and internal audit
Behavioural Competencies
Equal Opportunities Employment at IHCL
At IHCL, we celebrate diversity and are committed to creating an inclusive environment for all employees. We are proud to be an equal opportunity employer and do not discriminate based on race, color, religion, gender, sexual orientation, age, national origin, disability, or any other status protected by applicable law. We encourage all qualified individuals to apply and join our team, where every voice is valued and respected.