Chief Accountant

2026-07-22
, Unknown
, monthly
Banking & Finance

Domeo Resources International (DRI) is a prolific organisation which proffers HR and Management Consultancy solutions premised on excellence and innovation. DRI analyses various organisational problems, develops improvement plans, deploys those plans and monitors the plans to ensure improved organisational performance.

Job Summary

In addition to the core accounting function, the Chief Accountant is responsible for overseeing the hotel'sCost Control and Profitability Managementfunction, ensuring that operational costs are effectively monitored, controlled, analyzed, and optimized across all departments.
The role works closely with the General Manager and Department Heads to safeguard assets, strengthen financial controls, improve operational efficiency, minimize waste, and maximize profitability.
The role oversees financial reporting, budgeting, treasury management, taxation, payroll, accounts payable, accounts receivable, internal controls, fixed assets, inventory accounting, and financial planning.
The Chief Accountant is responsible for planning, directing, coordinating, and managing all financial and accounting activities of the hotel to ensure financial integrity, regulatory compliance, operational efficiency, and sustainable profitability.
The Chief Accountant ensures compliance with International Financial Reporting Standards (IFRS), applicable Nigerian tax laws, hospitality accounting best practices, and company financial policies while providing strategic financial advice to management for informed decision-making.

Key Responsibilities
Financial Accounting & Reporting:

Present financial reports and performance analyses to the General Manager and Executive Management.
Maintain complete, accurate, and up-to-date accounting records in accordance with IFRS and company policies.
Monitor revenue, expenditure, assets, liabilities, equity, and cash flow.
Plan, organize, direct, and supervise all accounting and financial activities of the hotel.
Ensure timely month-end and year-end financial closing processes.
Prepare daily, weekly, monthly, quarterly, and annual financial statements and management reports.
Ensure accuracy of the General Ledger and subsidiary ledgers.
Review journal entries, reconciliations, and financial adjustments.

General Ledger Management:

Ensure proper account coding and classification.
Review journal vouchers and accounting entries for accuracy.
Maintain and oversee the hotel's General Ledger.
Investigate and resolve accounting discrepancies.
Ensure timely reconciliation of bank accounts, supplier accounts, and customer accounts.
Perform monthly balance sheet reconciliations.

Accounts Payable & Procurement Control:

Monitor outstanding liabilities and payment schedules.
Ensure suppliers are paid accurately and within agreed payment terms.
Reconcile supplier statements regularly.
Ensure procurement transactions comply with company policies.
Verify supplier invoices against approved Purchase Requisitions (PRs), Purchase Orders (POs), Goods Received Notes (GRNs), and delivery documentation.
Supervise accounts payable activities.

Accounts Receivable & Credit Control:

Review credit applications and recommend credit limits.
Coordinate with Sales and Front Office to resolve disputed accounts.
Ensure timely collection of outstanding debts.
Monitor credit risks and recommend corrective actions.
Monitor outstanding receivables and debtor aging reports.
Supervise guest ledger, city ledger, corporate accounts, and credit accounts.

Cash Management & Treasury:

Prepare cash flow forecasts and liquidity reports.
Ensure adequate working capital for operations.
Safeguard hotel cash assets.
Supervise cash collections, banking activities, and cash disbursements.
Monitor foreign currency transactions where applicable.
Ensure proper reconciliation of cash receipts from all revenue outlets.
Monitor daily cash positions and liquidity.

Budgeting & Financial Planning:

Coordinate preparation of annual operating and capital budgets.
Monitor budget utilization across departments.
Prepare financial forecasts and business projections.
Assist department heads in preparing departmental budgets.
Support strategic financial planning and investment decisions.
Conduct variance analysis and recommend corrective measures.
Prepare long-term financial models.

Financial Analysis & Management Reporting:

Analyze trends in revenue and expenditure.
Recommend strategies to improve financial performance.
Monitor departmental profitability.
Present financial analysis to management for decision-making.
Prepare management dashboards and KPI reports.
Analyze financial performance and profitability.

Taxation & Statutory Compliance:

Monitor changes in tax legislation.
Coordinate preparation and filing of VAT, WHT, PAYE, Company Income Tax, Pension, NSITF, NHF, Industrial Training Fund (ITF), and other statutory remittances.
Maintain complete statutory documentation.
Liaise with tax authorities and regulatory agencies.
Ensure compliance with all applicable tax laws and statutory obligations.

Payroll Management:

Reconcile payroll accounts monthly.
Monitor overtime and payroll costs.
Review payroll calculations for accuracy.
Maintain payroll confidentiality.
Supervise payroll preparation and processing.
Ensure statutory deductions are correctly applied.

Internal Controls & Financial Governance:

Strengthen internal financial controls.
Review financial policies and procedures.
Investigate financial irregularities.
Safeguard company assets.
Develop and maintain effective financial control systems.
Ensure compliance with Delegation of Authority (DOA) policies.
Ensure segregation of duties within finance operations.

Cost Control & Profitability Management:

Prepare cost control reports and profitability analyses for management.
Review banquet, conference, wedding, and event costing to ensure targeted profit margins are achieved.
Participate in menu engineering, pricing reviews, and profitability analysis.
Review supplier pricing trends and procurement costs.
Develop profitability improvement strategies for all revenuecentres.
Review daily food and beverage cost reports against inventory consumption.
Conduct cost variance analysis against budgets, forecasts, and previous periods.
Monitor departmental operating expenses to ensure compliance with approved budgets.
Recommend practical cost-saving initiatives without compromising service quality.
Analyze Food Cost, Beverage Cost,LabourCost, Utility Costs, Housekeeping Costs, Laundry Costs, Engineering Costs, Administrative Costs, Spa Costs, and all operational expenditures.
Monitor departmental payroll costs, overtime, outsourcedlabour, and manpower utilization.
Identify cost leakages, wastage, inefficiencies, and unauthorized expenditures.
Establish and maintain effective cost control systems across all hotel departments.
Analyze recipe costing, standard yields, and portion control with the Executive Chef and Food & Beverage Manager.
Monitor utility consumption and recommend energy-saving initiatives.

Inventory & Asset Management:

Monitor depreciation schedules.
Ensure compliance with FIFO inventory principles.
Maintain the Fixed Asset Register.
Supervise asset tagging and periodic verification.
Monitor inventory movements and variances.
Oversee inventory accounting across all stores.
Investigate stock shortages, breakages, spoilage, and pilferage.
Coordinate disposal of obsolete assets in accordance with company policy.
Participate in daily, weekly, monthly, and annual stock counts.

Revenue Assurance:

Monitor discounts, rebates, voids, refunds, and complimentary transactions.
Ensure all hotel revenues are completely and accurately captured.
Review daily revenue reports from Front Office, Food & Beverage, Spa, Laundry, Events, and other revenuecentres.
Reconcile PMS, POS, and accounting system reports.
Strengthen revenue assurance controls.
Investigate revenue discrepancies.

Audit Coordination:

Implement audit recommendations.
Coordinate internal and external audit exercises.
Respond to audit findings promptly.
Provide audit schedules andsupportingdocumentation.
Maintain audit compliance records.

Team Leadership & Staff Development:

Coach and mentor finance employees.
Promote teamwork, accountability, integrity, and professionalism.
Conduct performance appraisals.
Support succession planning within the department.
Prepare departmental work schedules.
Lead and supervise the Finance Department.
Identify training and development needs.

Systems Administration:

Coordinate software upgrades and system enhancements.
Oversee financial modules within the Property Management System (PMS), Point-of-Sale (POS), accounting software, payroll system, and inventory management system.
Ensure system integrity and accurate financial data.
Work closely with the IT Department on finance-related technology solutions.

Coordination with Other Departments:

Liaise with Internal Audit, External Auditors, Banks, Tax Authorities, Regulatory Agencies, and Financial Institutions.
Collaborate with Department Heads on budget performance and cost optimization.
Support Procurement in supplier evaluations and purchasing controls.
Work closely with the General Manager on financial planning and strategic initiatives.
Provide financial guidance to operational departments.

Reporting & Administration:

Maintain complete accounting records andsupportingdocumentation.
Prepare daily, weekly, monthly, quarterly, and annual financial reports.
Prepare Board reports, financial presentations, and management reports.
Maintain confidentiality of financial information.
Ensure proper record retention.

Compliance & Continuous Improvement:

Develop and improve financial policies and procedures.
Participate in strategic planning initiatives.
Introduceautomation and process improvements.
Ensure compliance with IFRS, company policies, statutory regulations, and hospitality accounting standards.
Promote continuous improvement across finance operations.

Qualifications & Requirements
Education:

Bachelor's Degree in Accounting, Finance, Economics, or a related discipline.
Master's Degree in Finance, Accounting, Business Administration (MBA), or related field is an added advantage.

Experience:

At least5 yearsin a managerial position within a reputable hotel or hospitality organization.
7–10 years of progressive accounting and finance experience.
Experience in a superior luxury hotel or internationally branded hospitality establishment is highly preferred.

Professional Certifications: