The Marriott International HQ located at 10400 Fernwood Road, Bethesda, MD 20817 is currently hiring a Manager, Accounting.
- The Contract Compliance Team, as part of Americas Finance, is responsible for managing and overseeing compliance for MSB management (and related) agreements.
- The Manager will serve as and oversee a small team of contract experts for their assigned portfolios within Marriott International (MI) by providing support in understanding financial aspects of the contract and serve as owner point of contact for financial issues.
- The Manager will participate with corporate departments to resolve financial issues and coordinate with other groups to ensure appropriate execution of contractual requirement.
- The department’s overall responsibilities include executing required financial reporting, management of cash waterfall, support and execution of deal changes and workouts, accounting processes in support of portfolio transactions, calculation/monitoring of contract thresholds, and serving as owner point-of-contact for financial issues.
- This position will be an integral member of the Contract Compliance team which is responsible for managing compliance for the Company’s portfolio of approximately 420 MSB hotels operating under management/lease agreements.
- The Manager will also have exposure to support MSB deal changes and workouts by coordinating with other Marriott departments through contract negotiations, development, and execution.
- The work performed will enable the successful execution of financial compliance requirements, thereby minimizing the risk of financial exposure to the company and/or contract termination.
- The Manager is also responsible for the management of cash waterfall along with the related available cash flow items in conjunction with the coordination of corporate related process activities (e.g. LRP and Budget process).
- Review and interpret management (and related) agreements to ensure compliance with contractual requirements for complex multi-brand and multi-unit MSB portfolios
- Serve as point of contact and provide contract expertise to various internal departments (GAM, MBS/AHS, CAPEX, Financial Reporting, Legal, etc.), as well as regional finance teams.
- Provide work review, consultation and management (when applicable) support to other members of the Contract Compliance team.
- Coordinate and participate in the MSB hotel cash waterfall budgeting and Long-Range Planning processes, along with other corporate and organizational processes identified.
- Serve as a point of contact for high priority MSB hotel owners on contractual and financial questions.
- Participate in the Capital Budget Review Process.
- Engage Marriott International organizations to resolve owner issues and respond to owner requests.
- Responsible for the calculation of cash waterfall and related available cash flow items to ensure accurate recording of Incentive Management Fee (IMF) and reporting to hotel owners each period, per the management agreements.
- Partner with various departments (Owner and Franchise Services (OFS), Global Asset Management, Legal, etc.) in the development and execution of contract workouts and amendments and ensure appropriate treatment of deal changes.
- Provide analytical and consultation support relating to contractual obligations and cash waterfall items, as needed.
- Serve as liaison with owners/auditors in support of quarterly/annual audit requirements.
- Strong organizational and managerial skills to be able to effectively manage multiple priorities, follow through on commitments, and coordinate interdepartmental projects
- Effectively work in a team environment
- Ability to embrace continuous process improvement
- Strong attention to detail and accuracy
- Ensure appropriate accounting teams understand contract terms and have processes in place to account for transaction activity and flag material financial risks. Engage Legal and/or Accounting Policy, as appropriate to ensure intent and understanding of contract provisions.
- Provide information and support to the Revenue Accounting, Threshold Monitoring and MBS Reporting teams as necessary.
- Responsible for the management and development of direct reports.
- Perform special projects, as needed.
- Ability to motivate others to perform at peak levels; ability to enhance the organization’s capabilities through effective management of resources and skills
- Strong verbal and written communication skills; ability to interact effectively with all levels of management
- High degree of initiative; highly motivated self starter
- Strong interpersonal skills with a “win-win” negotiating style
- Improve owner satisfaction by establishing and fostering positive relationships through proactive communication (i.e. welcome letters) as well as creative issue resolution.
- Ensure the Management Agreement Synopsis (MAS) database is accurate for assigned MSB hotel portfolios.
- Identify and implement process improvements for contract compliance processes.
- Coordinate with Revenue Accounting team members to ensure the accurate interpretation of MSB agreement terms related to transactions. Provide guidance on tactical issues with proposed contract language during negotiations and contract development.
Qualification & Experience:
- Bachelor’s Degree in Finance or Accounting or related discipline preferred
- 6 – 8 years of relevant finance/accounting experience, managerial experience a plus
- Exposure to management contracts and or legal agreements
- Experience in interpreting complex management, lease and guaranty contract provisions
- Strong financial acumen with proven analytical skills
- Understanding of Marriott accounting and finance processes and systems
- Understanding of accounting and the correlation of operating Financial Statements; ability to analyze and interpret results
- Understanding of generally accepted accounting principles and controls
- Proficient in Microsoft Office applications
- Experience with PeopleSoft preferre
- Experience in the Lodging/Hospitality industry preferred
- CPA or advanced degree a plus
Company: Marriott International
Vacancy Type: Full Time
Job Location: Bethesda, Maryland, US
Application Deadline: N/A