The Finance Head will oversee all financial activities of the restaurant business, ensuring the company's financial health by developing financial strategies, managing budgets, analyzing financial performance, and ensuring compliance with financial regulations. The role involves close collaboration with other department heads to drive the financial success of the restaurant(s)
Duties and Responsibilities:
Financial Strategy & Planning:
- Develop and implement financial strategies to support the restaurant's growth and profitability goals.
- Oversee the preparation and management of budgets, forecasts, and financial plans.
- Conduct financial modeling and risk analysis to inform decision-making.
Financial Reporting:
- Prepare and present financial reports, including profit and loss statements, balance sheets, and cash flow statements.
- Ensure accurate and timely reporting of financial data to stakeholders, including the management team and board of directors.
Cost Control & Optimization:
- Monitor and control operational costs, including food, labor, and overheads, to maximize profitability.
- Implement cost-saving initiatives and process improvements across the business.
Cash Flow Management:
- Manage cash flow to ensure the business has adequate liquidity to meet its obligations.
- Oversee accounts payable and receivable, ensuring timely payments and collections.
Compliance & Audit:
- Ensure compliance with financial regulations, including tax laws and accounting standards.
- Liaise with external auditors and manage internal audits to ensure financial integrity.
Team Management:
- Lead and develop the finance team, providing mentorship and support to ensure high performance.
- Oversee payroll processing and ensure accurate and timely payments to employees.
Business Analysis & Support:
- Analyze financial performance and provide insights and recommendations to support business decisions.
- Collaborate with other departments, such as operations and marketing, to align financial strategies with business objectives.
Investment & Funding:
- Evaluate investment opportunities and manage relationships with investors and financial institutions.
- Oversee capital expenditure and manage financing activities, including loans and equity funding.
QUALIFICATIONS
- Bachelor's degree in Finance, Accounting, or a related field; MBA or CPA preferred.
- Minimum of 10 plus years of experience in financial management, preferably in the restaurant or hospitality industry.
- Strong understanding of financial principles, budgeting, forecasting, and financial analysis.
- Excellent leadership and team management skills.
- Proficiency in financial software and systems, such as QuickBooks, Excel, and ERP systems.
- Strong communication and presentation skills.
- Analytical and problem-solving abilities.
- Attention to detail and accuracy.
- Ability to work under pressure and meet tight deadlines.
- Strategic thinking and business acumen.
- Integrity and ethical approach to financial management.
