Manager, Revenue Accounting

Marriott International Bethesda , MD 20813

Posted 2 weeks ago

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?

JOB SUMMARY

The Financial Contract Compliance (FCC)department works with corporate departments, continental leadership andregional teams, property management, and stakeholders to ensure financialcontractual responsibilities are executed and financial results are recorded incompliance with executed agreements and U.S. GAAP. The organization supports corporate processesin partnership with the continent organizations worldwide across all brands, aswell 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 ofMI's revenues; primary focus will be for International Managedbrands (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 Directorsof Finance, Continent Finance Teams, Financial Reporting & Analysis,Accounting Policy, and other key stakeholders. This position will focus on process alignment and willaddress business process improvements pertaining to contracts and revenuerecognition.

SCOPE/BUSINESS CONTEXT/EXPECTEDCONTRIBUTIONS

Scope

  • Number of Direct Reports N/A
  • Titles of Direct Reports N/A
  • Number of FTEs N/A
  • Budget Responsibilities N/A

ExpectedContributions

Accounting & Analytics:

  • Manage and execute monthly close process to ensureresults are reflected accurately for MI's fees, investments, obligations andreserves in accordance with the management contracts, royalty agreements, otherlegal documents, and US GAAP. Providesupervision and direction to staff in the review and calculation of Marriott'sfees, and completion of monthly and quarterly customer reporting package.

  • Manageand execute fee planning activities to ensure fee projections accuratelyreflect contractual estimates, and MI's income. Support the summary and preparation of the management fee calculationfor the long-range plan, business plan, budget, and forecast process anddistribute to various internal customers.

  • Coordinate the tracking and reconciliation ofdeferred fees in compliance with contractual provisions and revenue recognitionpolicy. Ensure tracking is complete andrepresents all current and potential deferred fees.

  • Lead in the development, implementation, and maintenance ofstandard, leverageable processes to ensure accurate and timely recognition ofMarriott fee income in a multi-currency, multi-entity environment according toUS GAAP.

  • Manage review of balance sheet account reconciliationsare completed monthly, ensure balances are accurate and reconciliations containproper support for balances. Partnerwith Accenture Hospitality Services (AHS) and direct staff to ensurecompleteness and accuracy of account reconciliations.

  • Serve as a point lead for audit related schedules andquestions.

Contract Compliance, Governance &Global Partnerships:

  • Review and understand management (and related)agreements to ensure compliance with contractual requirements for revenuerelated items, including standard and complex deal arrangements.

  • Lead the team in developing knowledge and expertisein contractual revenue requirements for properties within the growing MarriottInternational portfolio.

  • Ensure compliance with executed agreements on anindividual property and / or pooled portfolio basis. Ensure accuracy ofrevenues in accordance with contracts, US GAAP, and Corporate policies.

  • Partner with the Financial Reporting, FinanceBusiness Partner, Continent Teams, Treasury Accounting Services, Corporate& Statutory Accounting, AHS, and other corporate departments as necessaryto enhance business process flows. Seekmethods to enable the recording to reporting processes. Collaborate with Legalon interpretations and revenue recognition policy matters

  • Supervise and develop staff on specific aspects inmanagement and royalty agreements including, contract management, cashwaterfalls, revenue recognition, and fee deferrals.

  • Lead the team in establishing strong workingrelationships with the various disciplines, regional and continent offices.

Fee Database Maintenance and SpecialProjects:

  • Ensure the fee database is updated for key terms, definitions, calculations and fee ramps to facilitateongoing accurate reporting and analysis; including maintaining processes toensure consistent and accurate fee calculations.

  • Translate contract terms into formulas utilized byExcel based models and database calculations.

  • Assist in identifying system enhancements to improvethe effectiveness and efficiency of the accounting functions. Prioritize issues and focus on continuousprocess improvement.

  • Assist with ad hoc reporting requests combining former Marriottand Starwood information.

  • Responsible for staff development: training, effective performance feedback, evaluation, and careerdevelopment.

  • Participate,coordinate, and / or lead process redesign initiatives in support of GlobalFinance initiatives.

  • Perform other duties as assigned to meet business needs.

CANDIDATEPROFILE

Experience

  • 5years of relevant finance/accounting experience, managerial experience a plus.

  • Exposureto Management contracts and/or legal agreements.

  • Strongunderstanding of accounting processes and systems.

Education or Certification

  • B.S.Degree in Accounting, Finance or related discipline preferred.
  • CPAor advanced degree preferred.

Knowledge and Skills

  • Strongfinancial acumen with proven analytical and problem solving skills with theability to effectively resolve issues and to initiate, design, implement anddocument required business processes.

  • Strongtechnical accounting skills; understanding of Generally Accepted AccountingPrinciples and related controls.

  • Understandingof Marriott's management contracts and business models.

  • Experiencein interpreting complex contract provisions, evaluate MI's risks, andcoordinate compliance and handling of complex financial issues.

  • Well-organizedand strong organizational and managerial skills to be able to manage multiplepriorities, adjust to changing business demands and follow through oncommitments.

  • Proficientin spreadsheet and other business software applications.

  • Experiencewith PeopleSoft preferred.

  • Strongpeople management skills; ability to motivate others to perform at peak levels;ability to enhance the organization's capabilities through effective managementof resources and skills.

  • Highdegree of initiative; highly motivated self-starter.

  • Excellentcommunication and interpersonal skills. Ability to work effectively in acollaborative work environment with senior management, owner representatives, attorneys,peers and subordinates.

  • Supports,manages and initiates change within the organization, taking steps to removebarriers or to accelerate its pace.

  • Fostersrelationships and a positive climate to build effective teams that arecommitted to organizational goals and initiatives.

  • Effectivein prioritizing work and following through on commitments.

  • Strongoral/written communication skills, ability to interact effectively with alllevels of management.

  • Demonstratesa "win-win" negotiating style with the ability to influence others and functioneffectively in a collaborative environment.

Location

  • MIHQ

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.


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Manager, Revenue Accounting

Marriott International