Chief Accountant

Position Overview

Grand Hyatt – The Red Sea, a flagship property under the esteemed Grand Hyatt brand, is redefining luxury hospitality in Saudi Arabia as part of the Red Sea Global portfolio. As a key member of our leadership team, the Chief Accountant will play a pivotal role in shaping the financial integrity and operational excellence of this world-class destination. This role is designed for a strategic and detail-oriented finance professional who thrives in a dynamic environment where precision, compliance, and strategic insight are paramount. The Chief Accountant will report directly to the Director of Finance and will be responsible for overseeing the accounting, finance, and information systems functions to ensure the hotel’s financial health and alignment with corporate standards.

Key Responsibilities

• Financial Reporting and Compliance: Prepare and present accurate financial statements, accruals, and journal entries in strict adherence to generally accepted accounting principles (GAAP) and corporate reporting formats. Ensure all balance sheet accounts are reconciled and documented in compliance with internal controls and statutory requirements.
• Budgeting and Forecasting: Collaborate with the Director of Finance to develop, analyze, and present annual budgets, forecasts, and financial projections. Ensure alignment with corporate objectives and operational needs while maintaining rigorous financial discipline.
• Month-End and Year-End Close: Lead the monthly and annual financial close processes, including the preparation of cash flow statements, payroll reports, and other financial deliverables within established deadlines. Ensure all financial data is accurate, complete, and audit-ready.
• Financial Controls and Asset Management: Oversee the safeguarding of company assets, including cash, negotiable instruments, inventories, and statutory records. Implement and maintain robust internal controls to mitigate risks and ensure compliance with financial policies and regulatory requirements.
• Payroll and Credit Management: Supervise payroll processing to ensure timely and accurate disbursement of employee compensation. Review and authorize post-departure credit card allowances, ensuring all transactions are scrutinized and documented in accordance with corporate policies and credit card processing guidelines.
• Expense Monitoring and Profitability: Monitor daily financial performance through comprehensive reporting, identifying variances and trends that impact profitability. Work closely with operational teams to address material discrepancies and enhance guest experience while maintaining financial discipline.
• Capital Expenditure and Audit Compliance: Maintain and update capital expenditure spreadsheets, ensuring all investments are tracked, justified, and aligned with the hotel’s strategic goals. Conduct periodic audits of accounting principles and standard operating procedures (SOPs) to uphold compliance and operational efficiency.
• Stakeholder Communication: Generate and deliver timely, insightful financial reports and presentations to senior management and corporate stakeholders. Present key financial metrics and analytics to support data-driven decision-making and departmental goal achievement.

Qualifications and Experience

To excel in this role, candidates must possess a bachelor’s degree in Accounting, Finance, or a related field, complemented by a minimum of 7-10 years of progressive accounting experience, preferably within the hospitality or luxury service industry. Professional certifications such as CPA, ACCA, or CMA are highly desirable. The ideal candidate will demonstrate exceptional leadership skills, a strong understanding of financial systems and controls, and the ability to thrive in a fast-paced, high-stakes environment. Proficiency in ERP systems, advanced Excel skills, and experience with international financial reporting standards (IFRS) are essential. Fluency in English is required, and additional language skills are a plus.

Why Join Us?

At Grand Hyatt – The Red Sea, we are committed to fostering a culture of care, innovation, and excellence. As part of our team, you will have the opportunity to contribute to a groundbreaking hospitality project that sets new benchmarks in luxury and sustainability. We offer a competitive compensation package, comprehensive benefits, and a supportive environment that encourages professional growth and work-life balance. Join us in creating unforgettable experiences for our guests while advancing your career in a dynamic and rewarding setting.