As a senior member of the Marriott Finance Team, the Vice President, Corporate and Financial Accounting will be responsible to provide accurate, timely and actionable financial information related to the accounting and administration of Marriott’s mergers and acquisitions, foreign currency and interest rate derivatives, corporate debt offerings, foreign currency transactions, long-term investment activities (i.e. loans and guarantees, contract investments, investments in wholly owned or leased properties and joint venture investments), international cash management processes relating to cash repatriations and bank account management, project accounting relating to Marriott’s hotel development activities, and oversight of US GAAP accounting for all leasing arrangements. Partnering with other Global Finance leaders, he/she will also be responsible for developing the appropriate strategies and implementing best practices that will enable operational excellence in the management, accounting, and reporting of MI’s global financing activities today and create flexibility to accommodate evolving future business needs. Leading a large professional work team, the Vice President, Corporate and Financial Accounting will:
Provide oversight relating to the accounting and financial reporting for owned and leased hotel properties. This oversight includes managing the receipt of accounting information relating to owned or leased properties accounted for by hotel Directors of Finance, as well as identifying and maintaining appropriate US GAAP adjustments related to foreign properties. This includes identifying and maintaining proper financial statement presentation and footnote disclosures.
Partner with other Global Finance departments, including but not limited to Asset Management, Accounting Policy, Project Finance, Tax and Treasury, to effectively manage the accounting for the acquisition, holding (including ensuring proper asset-held-for sale accounting treatment), and disposition of wholly-owned or leased properties (or entities holding such property ownership).
Plan and direct the activities of the Corporate Financial Accounting group to ensure the proper management, accounting and administration of Marriott’s global financing activities including: the accurate and timely servicing of a complex global loan portfolio (loans and/or guarantees provided to hotel owners); the accurate and timely payment of debt service, fees, interest rate hedges and other financing costs on all corporate debt; compliance with US and local country GAAP relating to foreign currency transactions, including the determination of the appropriate functional currency of all newly established legal entities, translating financial statements, revaluing foreign currency transactions, and determining the proper treatment of foreign currency hedging transactions. Develop and implement “best practice” policies, processes, and procedures to ensure cost effective and efficient transaction processing.
Provide ongoing guidance to Finance Business Partners and Finance Centers of Expertise concerning issues related to areas of responsibility. Partner with Treasury, Tax and International Continents to ensure the efficient and effective use of cash and currency management systems, including identifying opportunities for, and the implementation of, cash concentration mechanisms. Support Treasury and Asset Management with loan recoveries, refinancings and workout activity by providing quantitative and qualitative analyses. Partner with Treasury, International Continents and Financial Reporting & Analysis to develop a reporting framework for foreign exchange financial instruments.
Provide accurate servicing and administration of MI’s long-term investment outflow activities including cash flow controls and accounting for notes receivables, key money, IMCs, guarantees and new entity formation.
Provide quantitative and qualitative analyses (e.g., cash flow waterfall analysis) to key stakeholders (i.e., Treasury, Global Asset Management, Legal) that facilitate the achievement of MI’s lending program’s business objectives. In addition, provide international cash flow forecasting and cash repatriation strategies
Provide bank account management support including entity bank account establishment, interest income forecasting and management
Partner with key constituents to develop and maintain processes to monitor Marriott’s capital commitments and determine the impact on debt capacity and earnings.
Provide management oversight for the accounting of Marriott’s lodging and corporate joint venture interests. This responsibility encompasses the accounting for ventures (either directly or through the oversight of hotel Directors of Finance), managing the accurate and timely receipt of financial information from partners where the venture’s books are maintained by the partner, as well as supporting Asset Management, Legal, Project Finance, Tax, and Continent Finance teams in the formation, acquisition, and divestiture of joint venture interests.
Provide Accounting support to Marriott’s Development organization. Specifically, identify and execute effective processes and protocols to ensure effective accounting and financial statement reporting of strategies for development activities worldwide.
Ensure accurate US GAAP accounting and reporting of Marriott’s global leasing activities (hotel, offices, equipment, etc.) by maintaining effective working relationships with worldwide stakeholders.
Develop and maintain strong relationships with other Finance teams (i.e., International Continents, Treasury, and Tax) providing guidance and/or consultation in the development of strategies (e.g., global cash and currency management) to improve financial and operational performance of the business.
Directing the work activities of the Corporate Financial Accounting staff including: establishing business priorities and managing performance against these objectives; developing the organizational infrastructure necessary to deliver against current and future work requirements; and developing talent for future assignments.
Establish and maintain the department administrative budget, including accurate forecasting and variance analysis.
Perform other duties as assigned to meet business needs.
Key Talents and Experience
Fifteen + years of broad financial management experience in a global organization with increasing management responsibility and history of consistently delivering business results.
Ten + years in a management role; demonstrated success leading and developing a strong team in a complex, service-intensive, deadline-driven environment.
Knowledge of Marriott, generally accepted finance and accounting policies, and financial management tools, methodologies, governance frameworks and processes; ability to drive process improvements and implement best practices.
Strong qualitative and quantitative analytical skills; ability to take large volumes of complex information and present it in a clear and concise manner appropriate for senior management decision-making; uses data and a cogent problem-solving methodology in decision making and impact assessment.
Results oriented; delivers results under difficult conditions and time constraints and demonstrates balanced judgment under pressure. Ability to assess, plan and get “the right priorities” done, on time and budget, at high quality levels; ability to work both independently and as part of a team.
Operates with a collaborative mindset to ensure that key stakeholders are considered, eliminating the need for duplicate systems; builds strong relationships to leverage information and insights to anticipate and respond to project risks; communicates well with project and other leaders; openly shares and does not withhold information; makes things happen without having to own all the resources; leverages shared resources to achieve results.
Strong interpersonal skills; able to maintain effective relationships with internal and external customers.
Communicates effectively, both orally and in writing; listens to others and effectively comprehends information; creates an environment allowing timely information flows throughout the organization.
Responsive; ability to integrate and balance priorities, work activities and resources for the benefit of multiple key stakeholders, as well as for department staff members.
Ability to consistently make decisions in a timely manner, sometimes with incomplete information and under tight deadlines and pressure; comfortable challenging organizational norms and accepted thinking to improve effectiveness.
Ability to sell ideas persuasively; settles differences and wins concessions without damaging relationships; can be both direct and forceful while remaining diplomatic.
Education and Professional Certification
Baccalaureate degree in Accounting, Finance, or related discipline required.
MBA or Masters degree with a concentration in Finance/Accounting strongly preferred.
This position will be based at MI Corporate Headquarters.
Additional Salary Information: Compensation plan offers bonus and equity
Internal Number: 19130029
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