Collection Director Jobs in Chicago, IL (NOW HIRING)

The Drake Oak Brook, Autograph Collection

Compensation: $70,000 to $100,000 per year

The successful candidate will have a minimum of 5 years' experience in Accounting. Experience in hotel accounting environment, preferably in a unionized hotel preferred. Successful candidate will also have four year college degree in Accounting with emphasis in Finance, Accounting or Business Management.

• Insurance enrollment available from DAY 1!
• Paid time off available from DAY 1!
• Holiday pay available from DAY 1!
• Hotel and travel discounts at worldwide destinations!
• Professional development and promotion opportunities!

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.
• 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.
• 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.
• 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:

• Accounts Receivable Aging Reports
• Accounts Payable Aging Reports
• Flash Reports
• Payroll Analysis
• Revenue Updates
• Cash Position Reports

Monthly

• 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 ProfitSword, and hotel PMS systems.

Hotel with 153 Rooms

Follow Chicago icons' footsteps and reserve a hotel room at the Drake Oak Brook, Autograph Collection. A beacon of style and class since the 1960s, our Oak Brook, IL hotel is easily accessible from O'Hare and Midway airports. A sense of grandeur marks your arrival at the hotel as sumptuous furnishings and impressive artwork greet you.

After check-in, explore attractions like the Brookfield Zoo or Oak Brook Center shopping-or immerse yourself in the energy of downtown Chicago.

Upon your return, relax in luxury hotel accommodations equipped with superb bedding and modern features, followed by a session in the fitness center. Dinner options include the Colonial Room, Coa, and the Polo Lounge.

Meeting and wedding guests appreciate our elegant, European-inspired event spaces. Our motto is Ubi Tempus Quietus, or "where time rests." So travel to a bygone era of refinement while staying at our renowned Oak Brook hotel.