Job Information
Choice Hotels Director, Financial Reporting & Accounting Policy in North Bethesda, Maryland
Who are we looking for?
Choice Hotels, one of the world’s largest lodging franchisors, has an exciting new opportunity as our Director, Financial Reporting & Accounting Policy in the Financial Reporting & Accounting team. This the team is responsible for preparing quarterly financial filings with the SEC and technical accounting memorandums for complex transactions. In this role, you will l ead the financial reporting, technical accounting, and international accounting statutory audit functions for Choice Hotels International through cross departmental collaboration.
Are you an experienced and dynamic Financial Reporting & Accounting leader? We invite you to apply today and #MakeItYourChoice.
Your Responsibilities
Accounting Policy
Lead GAAP analysis of complex transactions and technical accounting matters, such as revenue recognition, impairments, acquisitions/ dispositions, and joint venture formation.
Document and review conclusions within accounting position papers in accordance with relevant Sarbanes-Oxley 404 (SOX) controls.
Gain alignment with management and external auditors.
Prepare key communication points for executives and business partners across the Company.
Perform research into proposed transactions and business initiatives. Collaborate with operations, real estate, and business development to perform scenario analysis.
Provide insights to financially favorable transaction structures.
Execute and oversee technical accounting analyses for recurring areas, such as equity method joint ventures, lending (including expected credit losses), guest loyalty programs, segments, leasing, and real estate.
Coordinate with and review outputs from Corporate Accounting, International Accounting, and Real Estate Accounting to ensure technical accounting conclusions are appropriately reflected within the general ledger.
Periodically review and update accounting policies and then communicate the updated accounting policies on a cross departmental basis.
Align operational management and technical accounting, including for new system implementations and recently adopted accounting standards (e.g., ASC 606, ASC 842, ASC 326).
Develop a holistic view of the Company and understand how data flows between systems and significant initiatives impact the business.
Provide recommendations for the implementation of control improvements and process efficiencies with contemplation to business operations and accounting standards.
Perform research of new accounting standards. Develop and lead execution of project implementation plans.
Financial Reporting
Lead in drafting and reviewing 10Q and 10K financial statements to be filed with the Securities and Exchange Commission (SEC) in accordance with SEC, GAAP, and SOX rules and regulations.
Support press release and 8-K filing via collaboration with investor relations. Review digital tie out supporting documentation and oversee cross functional preparation in a web-based platform.
Prepare adjustments to presentation and disclosures within SEC filings based on current business activities and to conform with relevant regulations via research of literature and industry filings, and discussion with external auditors.
Oversee distribution of internal reporting of key performance indicators.
Coordinate with stakeholders, including IT personnel, to ensure seamless delivery during system transitions.
Support the planning and coordination of the financial reporting and compliance components of the external audit.
Prepare and distribute a monthly financial reporting package internally. In addition, improve the quarterly and annual financial reporting process by continuing to build-out a best-in-class quarterly 10-Q, annual 10-K, and Non-GAAP financial measures financial reporting processes.
International Accounting Statutory Audits
Work cross departmental with the International Accounting team to ensure the successful and timely completion of our annual international statutory audits.
By working cross departmentally with the International Accounting team, oversee the performance of the international reporting unit teams to ensure the annual year-end accounting and financial reporting processes are completed timely and accurately.
Work cross departmentally with the International Accounting team to develop and implement international accounting and financial reporting best practices in order to ensure the annual international statutory audits are completed timely and accurately. Work closely with the international accounting team to understand the following:
the corporate consolidation process including conversion of foreign GAAP to US GAAP, consolidation of wholly owned international subsidiaries, investment in equity method investments [Canada], and recognition of master franchise arrangements
key intercompany entries, including management fee funding (i.e., cost plus profit) and intellectual property development cost sharing
monthly/quarterly reports of key performance indicators (including operating statistics, profitability, foreign exchange impacts, and key balance sheet accounts), ensuring insights from analysis are effectively communicated to stakeholders
Support and act as a liaison to foreign auditors/accounting firms to ensure accurate, timely and cost-effective statutory and consolidated audits, and transfer pricing studies.
In conjunction with the International Accounting team, collaborate with Tax, Treasury, International FP&A, and the LATAM, AUS and Amsterdam offices to ensure the general ledger & financial reports are accurate and reflective of business operations, proposing adjustments to processes and procedures as appropriate.
Team Management & Leadership
Supervise and mentor existing staff to manage the Financial Reporting and Accounting Policy team.
Build relationships with peers and leaders throughout the organization to cultivate an environment where employees respect and adhere to company policies, procedures and standards of integrity and ethics.
Your Experience, Skills & Competencies
Position requires 7-10+ years of progressive relevant experience in public accounting (Big 4 preferred). In addition to public accounting, industry experience is preferred but not required.
BS/BA degree in Accounting or equivalent years of experience and CPA required.
Experience researching and implementing U.S. GAAP and SEC rules and regulations. Experience or familiarity in the following areas required:
ASC 606 - Revenue from Contracts with Customers
ASC 842 – Leases
ASC 810 - Consolidation
ASC 350 – Intangibles (Goodwill & Other)
ASC 805 - Business Combinations
ASC 326 – Current Expected Credit Losses
ASC 718 – Stock Compensation
Key international accounting and financial reporting topics (e.g., foreign exchange rates, statutory to GAAP adjustments, and international statutory audits and financial reporting)
Strong team building skills.
Able to work in a fast-paced environment and instill a sense of urgency.
Strong interpersonal, analytical and communication skills necessary.
Excellent written and verbal communication skills; ability to communicate with all levels of personnel in a large organization.
Strong presentation skills, including ability to anticipate questions and perspectives and provide timely and well thought out answers.
Excellent organizational skills.
Deadline-oriented and ability to multi-task.
Proven record of process improvement and streamlining functions.
Must be able to uphold Choice’s Values & Performance Principles of collaboration, performance excellence, sense of urgency, openness to new ideas, inclusion & diversity, integrity, customer focus, and respect.
Your Team
This is a leadership role that will report to the Chief Accounting Officer. You will have 2 direct reports and collaborate with cross functional departments on a regular basis.
Your Work Location
As our Director, Financial Reporting & Accounting Policy, you will be based in our beautiful, state-of-the-art worldwide corporate headquarters in North Bethesda, MD. Less than 15 miles from Washington, DC, we’re located one block away from the North Bethesda Metro station, with service on the Red Line and the MARC Brunswick line, easy access to I-270, and plenty of free parking provided by Choice Hotels.
Right now, our associates in corporate headquarters are working in a hybrid environment, up to 4 days per week in the office and virtually from your home office the remaining days. We provide flexibility and encourage ongoing communication with your leadership to establish expectations about your unique needs.
About Choice
Choice Hotels International, Inc. (NYSE: CHH) is one of the largest lodging franchisors in the world. With nearly 7,500 hotels, representing nearly 630,000 rooms, in 46 countries and territories as of September 30, 2022, the Choice® family of hotel brands provides business and leisure travelers with a range of high-quality lodging options from limited service to full-service hotels in the upper upscale, upper mid-scale, midscale, extended-stay, and economy segments. The award-winning Choice Privileges® loyalty program offers members a faster way to rewards, with personalized benefits starting on day one. For more information, visit www.choicehotels.com.
At our worldwide corporate headquarters in North Bethesda, MD and St. Louis Park, MN as well as our technology center in Scottsdale, AZ, and through our associates around the globe, we keep Choice Hotels thriving by serving as a champion for our franchisees and providing cutting-edge technology.
About Choice Hotels Financial Performance
Record total revenues grew 10% to $1.5 billion for full-year 2023 compared to the same period of 2022. Adjusted EBITDA for fourth quarter 2023 increased 11% to $125 million from the same period of 2022. Fourth quarter 2023 adjusted diluted EPS increased 14% to $1.44 compared to the same period of 2022. Please click here (https://investor.choicehotels.com/news/news-details/2024/Choice-Hotels-International-Reports-Fourth-Quarter-And-Full-Year-2023-Results/default.aspx) to review highlights of our Fourth Quarter and Full-Year 2023 Results.
* PLEASE NOTE: This role is not eligible for sponsorship *
Ability to model Choice’s Cultural Values: Welcome and Respect Everyone, Be Bold, Be Quick, Listen, Be Curious and Show Integrity.
CONNECT THE WORLD THROUGH THE POWER OF HOSPITALITY
We bring together the people, brand and technology that enable the success of others – welcoming every guest, every partner, everywhere their journey takes them.
Visit http://careers.choicehotels.com to learn more.