Marriott Manager of Revenue Accounting in Bethesda, Maryland
Posting Date Mar 13, 2018
Job Number 18000LZX
Job Category Finance and Accounting
Location Marriott International HQ, Bethesda, Maryland VIEW ON MAP
Position Type Management
Start Your Journey With Us
Marriott International is the world’s largest hotel company, with more brands, more hotels and more opportunities for associates to grow and succeed. We believe a great career is a journey of discovery and exploration. So, we ask, where will your journey take you?
The Financial Contract Compliance (FCC) department works with corporate departments, continental leadership and regional teams, property management, and stakeholders to ensure financial contractual responsibilities are executed and financial results are recorded in compliance with executed agreements and U.S. GAAP. The organization supports corporate processes in partnership with the continent organizations worldwide across all brands, as well as the respective Finance Business Partners, Centers of Expertise, and Accenture Hospitality Services (AHS).
As a member of the MI FCC team, the Manager is responsible for the accurate and timely accounting and analysis of MI’s revenues; primary focus will be for International Managed brands (legacy Marriott). This position is responsible for all aspects of management contracts pertaining to calculation, recording, reporting, and analysis of MI revenues, including collaboration, documentation, and process implementation with FCC team members, Property Directors of Finance, Continent Finance Teams, Financial Reporting & Analysis, Accounting Policy , and other key stakeholders. This position will focus on process alignment and will address business process improvements pertaining to contracts and revenue recognition. The Manager will supervise one or two associates.
SCOPE/BUSINESS CONTEXT/EXPECTED CONTRIBUTIONS
Number of Direct Reports – 1-2
Titles of Direct Reports – Assistant Manager
Number of FTEs – 1-2
Budget Responsibilities – N/A
Accounting & Analytics:
Manage and execute monthly close process to ensure results are reflected accurately for MI’s fees, investments, obligations and reserves in accordance with the management contracts, royalty agreements, other legal documents, and US GAAP. Provide supervision and direction to staff in the review and calculation of Marriott’s fees, and completion of monthly and quarterly customer reporting package.
Manage and execute fee planning activities to ensure fee projections accurately reflect contractual estimates, and MI’s income. Support the summary and preparation of the management fee calculation for the long range plan, business plan, budget, and forecast process and distribute to various internal customers.
Coordinate the tracking and reconciliation of deferred fees in compliance with contractual provisions and revenue recognition policy. Ensure tracking is complete and represents all current and potential deferred fees.
Lead in the development, implementation, and maintenance of standard, leverageable processes to ensure accurate and timely recognition of Marriott fee income in a multi-currency, multi-entity environment according to US GAAP.
Manage review of balance sheet account reconciliations are completed on a monthly basis, ensure balances are accurate and reconciliations contain proper support for balances. Partner with Accenture Hospitality Services (AHS) and direct staff to ensure completeness and accuracy of account reconciliations.
Serve as a point lead for audit related schedules and questions.
Contract Compliance, Governance & Global Partnerships:
Review and understand management (and related) agreements to ensure compliance with contractual requirements for revenue related items, including standard and complex deal arrangements.
Lead the team in developing knowledge and expertise in contractual revenue requirements for properties within the growing Marriott International portfolio.
Ensure compliance with executed agreements on an individual property and / or pooled portfolio basis. Ensure accuracy of revenues in accordance with contracts, US GAAP, and Corporate policies.
Partner with the Financial Reporting, Finance Business Partner, Continent Teams, Treasury Accounting Services, Corporate & Statutory Accounting, AHS, and other corporate departments as necessary to enhance business process flows. Seek methods to enable the recording to reporting processes. Collaborate with Legal on interpretations and revenue recognition policy matters
Supervise and develop staff on specific aspects in management and royalty agreements including, contract management, cash waterfalls, revenue recognition, and fee deferrals.
Lead the team in establishing strong working relationships with the various disciplines, regional and continent offices.
Fee Database Maintenance and Special Projects:
Ensure the fee database is updated for key terms, definitions, calculations and fee ramps to facilitate ongoing accurate reporting and analysis; including maintaining processes to ensure consistent and accurate fee calculations.
Translate contract terms into formulas utilized by Excel based models and database calculations.
Assist in identifying system enhancements to improve the effectiveness and efficiency of the accounting functions. Prioritize issues and focus on continuous process improvement.
Assist with ad hoc reporting requests combining former Marriott and Starwood information.
Responsible for staff development: training, effective performance feedback, evaluation, and career development.
Participate, coordinate, and / or lead process redesign initiatives in support of Global Finance initiatives.
Perform other duties as assigned to meet business needs.
5+ years of relevant finance/accounting experience, managerial experience a plus
Exposure to Management contracts and/or legal agreements
Strong understanding of accounting processes and systems.
Education or Certification
B.S. Degree in Accounting, Finance or related discipline preferred.
CPA or advanced degree preferred.
Knowledge and Skills
Strong financial acumen with proven analytical and problem solving skills with the ability to effectively resolve issues and to initiate, design, implement and document required business processes.
Strong technical accounting skills; understanding of Generally Accepted Accounting Principles and related controls.
Understanding of Marriott’s management contracts and business models.
Experience in interpreting complex contract provisions, evaluate MI’s risks, and coordinate compliance and handling of complex financial issues.
Well-organized and strong organizational and managerial skills to be able to manage multiple priorities, adjust to changing business demands and follow through on commitments.
Proficient in spreadsheet and other business software applications.
Experience with PeopleSoft preferred.
Strong people management skills; ability to motivate others to perform at peak levels; ability to enhance the organization’s capabilities through effective management of resources and skills.
High degree of initiative; highly motivated self-starter.
Excellent communication and interpersonal skills. Ability to work effectively in a collaborative work environment with senior management, owner representatives, attorneys, peers and subordinates.
Supports, manages and initiates change within the organization, taking steps to remove barriers or to accelerate its pace.
Fosters relationships and a positive climate to build effective teams that are committed to organizational goals and initiatives.
Effective in prioritizing work and following through on commitments.
Strong oral/written communication skills, ability to interact effectively with all levels of management.
Demonstrates a “win-win” negotiating style with the ability to influence others and function effectively in a collaborative environment.
Marriott International is an equal opportunity employer committed to hiring a diverse workforce and sustaining an inclusive culture. Marriott International does not discriminate on the basis of disability, veteran status or any other basis protected under federal, state or local laws.