Finance Manager

Finance Manager - F&B/Hospitality Industry Position Title:
Finance Manager Department:
Finance Reports To:
General Manager / Director of Finance Location:
Bahrain Job Type:
Full-time Job Summary:
The Finance Manager in the F&B/Hospitality industry is responsible for overseeing and managing all aspects of financial planning, reporting, and analysis within the organization.
This includes budgeting, forecasting, financial reporting, cash flow management, and ensuring the accuracy of financial records.
The Finance Manager will collaborate with department heads to improve financial performance, ensure profitability, and support strategic decision-making.
Key Responsibilities:
Financial Reporting & Analysis:
Prepare and analyze monthly, quarterly, and annual financial statements, ensuring accurate and timely reporting.
Provide detailed analysis of revenue, costs, and profitability, and identify trends and opportunities for cost-saving initiatives.
Review and evaluate monthly financial performance against budget, forecast, and prior periods.
Budgeting & Forecasting:
Lead the annual budgeting process, collaborating with all departments to ensure realistic and achievable financial targets.
Develop financial forecasts and projections based on actual performance and market trends.
Continuously monitor financial results and adjust forecasts as necessary.
Cost Control & Profitability:
Manage and analyze food, beverage, and operational costs to improve margins and reduce wastage.
Implement effective cost-control measures and work with department heads to achieve cost reduction targets without compromising service quality.
Oversee pricing strategies, ensuring they are competitive while meeting profitability targets.
Cash Flow Management:
Monitor cash flow to ensure sufficient liquidity for operational needs.
Manage daily cash transactions, ensuring compliance with company policies and financial regulations.
Optimize working capital and manage accounts payable and receivable to maintain healthy cash flow.
Internal Controls & Compliance:
Ensure the implementation and maintenance of effective internal controls to safeguard company assets.
Oversee compliance with financial regulations, tax laws, and industry-specific standards (e.g., VAT for F&B).
Conduct regular audits and reviews of financial processes, systems, and records to ensure accuracy and compliance.
Team Leadership & Collaboration:
Supervise and mentor the finance team, providing guidance and support for their professional development.
Collaborate with other departments (e.g., Operations, F&B, HR) to improve operational efficiency and ensure financial goals align with the business strategy.
Work closely with the senior management team to provide insights and recommendations on financial performance and strategy.
Taxation & Regulatory Reporting:
Oversee the preparation and submission of tax returns (e.g., VAT, income tax) in accordance with local regulations.
Ensure compliance with all regulatory requirements in the hospitality industry.
Financial Systems & Technology:
Manage and optimize financial systems and tools (e.g., accounting software, POS systems) to improve financial reporting and operational efficiency.
Implement and maintain technology solutions for cost control, reporting, and budgeting.
Qualifications & Skills:
Education:
Bachelor's degree in Accounting, Finance, Business Administration, or related field.
A professional accounting qualification (e.g., CPA, CMA, ACCA) is preferred.
Experience:
Minimum of 7 years of experience in financial management, with at least 3 years in the F&B, hospitality, or retail sector.
Experience in managing financial teams is a must.
Key Skills:
Strong financial analysis and budgeting skills.
Expertise in cost management and control, particularly in the F&B sector.
Excellent understanding of accounting principles, financial reporting, and taxation in the hospitality industry.
Proficiency in financial software (e.g., SAP, Quick Books, Microsoft Dynamics).
Strong leadership and interpersonal skills to collaborate across departments.
Ability to work under pressure and meet tight deadlines.
Detail-oriented with strong problem-solving abilities.
Fluent in English (knowledge of additional languages is a plus).
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