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Head of Finance

Employer
St Michaels Resort
Location
Falmouth, Cornwall
Salary
£43,000.00-£50,000.00 per year depending on experience
Closing date
24 Jun 2022

View more

Sector
Hotel
Hours
Full Time
Contract Type
Permanent
Job function
Finance
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Based in one of the UK’s most stunning locations by the sea, St Michaels is one of the South-West’s most iconic and dynamic resorts.

We are currently building the right senior management team for the long term and the recruitment of absolutely outstanding individuals is critical to our success

St Michaels Hotel & Spa is already one of Cornwall’s leading 4-star resorts. It is stylish and contemporary, with a vibrant, friendly atmosphere which embraces the local community. It overlooks a sandy, blue flag beach, and a wonderful stretch of coastline. It is within walking distance of the vibrant, creative Falmouth town centre.

The hotel has benefitted from substantial investment from 2002 and has been awarded most recently, Gold for Spa & Well Being Experience of the year in the Southwest Tourism Awards 2021-2022, and Best Large Hotel in Cornwall in the 2019-2020 Cornwall Tourism Awards. It is rated AA 4 star, with 2 AA Rosettes.

We are currently undergoing a development of our spa garden area, introducing 2 new spa lodges, a new larger outside hot tub and plunge pools.

Our current development programme will strengthen St Michael’s position as one of the leading resorts in the Southwest, delivering clear competitive advantage in spa and wellness.

The Role of Head of Finance at St Michaels:

The Head of Finance for St Michaels Resort is a key senior manager in the business and Chief Financial Officer.

The role is critical in helping to ensure that St Michaels meets its overall profit and performance targets through insightful management reporting and the coaching of financial acumen across all staff in the business. You will be not only responsible for the whole finance function within the business, but also play a leading role in IT and procurement.

This is both a “hands on” Head of Finance role, as well as encompassing a wide-ranging commercial brief to improve the performance and efficiency / productivity of the business

The role reports to The Resort Director (effectively CEO) and the Board of Directors / shareholders.

There are 4 full time direct reports, and close liaison with the senior team.

Scope of the Role:

Budgetary / Planning:

  • Work closely with senior managers in the preparation of annual business plans and detailed budgets
  • Undertake regular performance reviews and ensure that all financial / business forecasting is well developed
  • Prepare annual investment and capex plans
  • Prepare annual cash flow plans

Performance Management

  • Report daily, weekly, monthly on business performance through the creation of key management KPI dashboards and performance monitors
  • Set clear and accountable performance measures, KPI’s and performance ratios in conjunction with Board / senior management.
  • Work closely with all managers to ensure targets are met and help coach financial understanding and financial control throughout the business
  • Preparation of weekly Profit and Loss Accounts
  • Preparation of weekly Cash Flow Forecasting
  • Production of monthly Management Accounts to include detailed Departmental trading performance
  • Advise on all key commercial strategies of the business, and ensure all pricing strategies are developed in the context of detailed cost understanding and market insight
  • Provide ad hoc financial analyses as required, review of historic data, investment of capital expenditure, pricing decisions etc

Processes and Systems

  • Ensure all financial procedures, processes, and systems are agreed, documented and well understood by all relevant personnel across the business
  • Strive to improve all procedures and make them more efficient
  • Undertake regular checks and reviews to ensure all processes are properly followed And that an adequate system of controls over accounting transactions is in place
  • Stay constantly alert to any irregularities and investigate as necessary. Ensure all cash handling is well managed and sales revenue against monies received is well analysed

IT

  • Co-ordinate our company wide approach / strategy on IT and ensuing procurement and utilisation of all software, hardware etc
  • Maximise our cost-effective use of IT to improve our performance in all areas of the business

Procurement / Bought ledger/ stockholdings

  • Ensure the business procures all its goods and services as cost effectively as possible and our process of procurement delivers us excellent value in a clear, accountable, and transparent manner
  • Ensure all suppliers are well managed and paid in accordance with agreed terms
  • Ensure all procurement, stock holding levels, stock management, receiving etc is managed well and accurate cost of sale figures are produced as a result
  • Ensure regular stock takes and analysis of findings across all stocked items takes place

Team/ Development

  • Develop a strong, motivated, accurate, reliable, insightful, Finance department with a good level of retention and development
  • Create a strong financial awareness and understanding of financial control across the business
  • Providing commercial and financial mentoring to senior management team to ensure a clear understanding of departmental performance and targets

Payroll

  • Overseeing of payroll  

Financial Accounts, Reports & Compliance

  • Preparation of weekly Profit and Loss Accounts
  • Preparation of weekly Cash Flow Forecasting
  • Production of monthly Management Accounts to include detailed Departmental trading performance
  • Responsible for financial reporting of associated companies and group consolidation
  • Provision of annual financial statements to external accountants for detailed audit review and thereafter submission to Companies House
  • Responsible for all statutory requirements of the business including VAT, payroll and liaison with related parties
  • The chart of accounts is maintained
  • Manage insurance, Utilities along with property manager
  • Ensure compliance with all licences, and statutory matters
  • All Debtors Accounts are managed and control on a regular basis
  • All bank accounts are reconciled on a monthly basis


Person Specification

You will be a very experienced and well-rounded financial professional, with at least 5 years of experience in a senior management role as Head of Finance or above. Ideally, you will have worked in larger and smaller companies across your career and had the right blend of being mentored and taking full responsibility

  • You will need considerable experience of the hospitality sector, preferably leisure-oriented hotels
  • Either CIMA / ACCA Qualified Accountant or QBE
  • Confident in forecasting and preparing budgets
  • Excellent IT Skills 
  • Highly analytical and efficient in producing financial reports
  • Excellent communication skills to liaise with Department Heads
  • Strong team leadership, training and development skills
  • Highly commercial and astute
  • Good sense of humour
  • High integrity & honesty
  • Friendly and warm hearted
  • Strong customer orientation
  • Experience with xero preferred

Benefits:

  • Incentive scheme
  • 28 days paid holiday
  • Preferential room rates*
  • 25%staff discount on food and drink
  • 25% discount on spa treatments and retail products*
  • Free gym membership and discount for family and friends
  • Professional development

*Subject to availability and eligibility

Salary: £43,000.00-£50,000.00 per year depending on experience

To apply for this role, please click "Apply"

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