Sr. Dir. Finance

Position Summary: Leads all financial activity of Colonial Downs Group (CDG) including accounting, financial analysis, cash operations, revenue audit, purchasing and compliance.  Manages the timely preparation and analysis of the financial results and establishes and maintains the necessary internal controls required to safeguard CDG’s assets, to ensure integrity and compliance with the Virginia Racing Commission and other State and Federal regulations, and to ensure that the financial results reflect established accounting and financial standards. Responsible for working with CDG leaders to manage maintenance and project capital and to obtain approvals, as necessary. Responsible for providing financial analysis and decision support to the CDG leadership team and corporate financial planning and analysis, as needed, related to CDG. Responsible for developing financial forecasts and actions to achieve the forecasts with the CDG leadership team.

Essential Duties and Responsibilities:  A review of this description has excluded the marginal functions of this job which are incidental to the performance of fundamental job duties. All duties or requirements are essential job functions. This job description in no way states or implies that these are the only duties to be performed by the employee occupying this position. Employees will be expected to follow any other job-related instruction and to perform any other job-related duties requested by their supervisor. This document does not create an employment contract, implied or otherwise, other than an “at-will” employment relationship.

1. Lead all financial activity of CDG including accounting, financial analysis, cash operations, revenue audit, purchasing and compliance.
2. Manage the timely preparation and analysis of the financial results and establish and maintain the necessary internal controls required to safeguard CDG’s assets, to ensure integrity and compliance with the Virginia Racing Commission and other State and Federal regulations, and to ensure that the financial results reflect established accounting and financial standards.
3. Responsible for working with CDG leaders to manage maintenance and project capital and to obtain approvals, as necessary.
4. Responsible for providing financial analysis and decision support to the CDG leadership team and corporate financial planning and analysis, as needed, related to CDG.
5. Review regulatory and compliance activities with the Vice President and Legal Department as needed.
6. Ensure managers of Finance, Cash Operations, Purchasing, Compliance, and Accounting fulfill their required compliance and reporting duties and responsibilities in a timely, consistent, and efficient manner.
7. Consult with management and/or legal counsel to ensure policies comply with local ordinances, state, and federal laws regarding gaming compliance matters.
8. Oversee the revision, preparation, and dissemination of new and updated compliance standards and procedures.
9. Keep all Internal Controls up to date and on file with regulatory authorities.
10. Consults with outside agencies and consultants and makes prompt recommendations to management to prevent illegal activities from taking place at CDG.
11. Coordinate, supervise, and support compliance-related programs, such as compliance training, compliance testing, and reporting, including that done by external auditors.
12. Provide support and leadership direction to individuals reporting to this position in accordance with the organizational structure.
13. Responsible for developing financial forecasts and actions to achieve the forecasts with the CDG leadership team.
14. Oversee all financial operations for the Historical Racing Machine facility, and racing operations, including:
    1. Accounting,
    2. Financial analysis,
    3. Cash Operations,
    4. Revenue Audit,
    5. Purchasing, and
    6. Compliance.
15. Manages the timely preparation and analysis of the financial results.
16. Reviews and analyzes monthly financial results and assist in the preparation of the consolidated internal reporting package for the property.
17. Reviews and analyzes detailed results from the hotel and food & beverage operations to determine if pricing, utilization, and cost structure are properly established and maintained.
18. Meets monthly with each business unit leader to review performance to budget and prior year.
19. Challenges business units that are falling short of expected performance.
20. Establishes and maintains the necessary internal controls.
21. Develops, implements, and maintains accounting policies and procedures for the financial operations including financial accounting and reporting.
22. Develops, implements, and maintains strong internal controls over cash handling, revenue recognition, ordering and receipt of goods and other areas of the operation.
23. Serves as the primary financial support for CDG. Provides financial information to the business unit leaders, assists with the preparation of various financial analyses and reports as the business unit heads participate in reviews during the year and coordinates the preparation of their annual operating plans.
24. Develops financial forecasts and actions to achieve the forecasts with the CDG leadership team.
25. Prepares short and long-term financial forecasts of financial performance for use with internal CDG and corporate management and external parties.
26. Responsible for working with CDG leaders to analyze, forecast, and manage maintenance and project capital and to obtain approvals, as necessary.
27. Coordinates and leads the annual strategic planning process including the coordination of the annual operating and capital budget. Challenges each property and business unit management team/leader to maximize business unit and property performance while minimizing costs. Creates activity-based budgets that can be easily tracked and monitored against actual performance.
28. Assists with the preparation of ad-hoc reporting and other special reporting as needed by the management team. Develops conclusions and/or opinions based on analysis and is prepared to challenge the management team to make decisions that will improve the overall financial health of CDG.
29. Identifies process improvement opportunities, including those related to automation using available technologies.
30. Other tasks and duties as assigned.

 Regulatory and Compliance Responsibilities: In addition to the other duties described herein, each Team Member has the following responsibilities related to compliance with laws and regulations.

• Attend required training sessions offered by the Company.
• Obtain and retain required license(s).
• Perform the duties described in compliance with local laws and regulations.
• Take the necessary steps to ensure minors are not allowed to gamble or loiter in gambling areas, drink alcoholic beverages, or purchase tobacco.
• Have knowledge of the ordinances, regulations, laws, policies, and procedures relating to the Team Member’s department.
• Have knowledge of the Property’s programs to address problem gaming.
• Report any acts of wrongdoing of which the Team Member may have knowledge.

Position Qualifications: A bachelor’s degree in accounting or finance is required. Eight to ten years of experience in accounting, financial reporting, and analysis, with three years managing a financial department is required; other combinations of education and experience may be considered. CPA preferred. Thorough knowledge of all accounting procedures and regulations as they apply to the state and the gaming industry. Understanding of corporate and property-specific policies and procedures. Knowledge of finance, accounting, budgeting, and cost control principles including Generally Accepted Accounting Principles. Knowledge of automated financial and accounting reporting systems. Ability to analyze financial data and prepare financial reports, statements, and projections. Working knowledge of short- and long-term budgeting and forecasting, rolling budgets, and product-line profitability analysis. Ability to motivate teams to produce quality materials within tight timeframes and simultaneously manage several projects. General ledger experience is required. Must be proficient in the entire Microsoft Office Suite.

 Certificates, Licenses, and Registrations: Virginia Racing Commission License and a Valid Driver’s License with minimum three (3) years’ experience driving

Supervisory Responsibilities: Manages subordinates who may supervise employees. Responsible for the overall direction, coordination, and evaluation of the unit(s).

Physical Demands: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.  While performing the duties of this job, the employee is frequently required to sit or stand; walk; use hands to finger reach, handle, or feel objects, tools, or controls; reach with hands and arms; climb or balance; stoop, kneel, crouch, or crawl; and talk or hear.  The employee may also be required to lift, push, and pull up to 25lbs.  Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The noise level in the work environment is usually moderate to loud. The employee is subjected to circulate throughout the assigned areas, including the smoking area, actively observing players, and functioning of machines.

A review of this description has excluded the marginal functions of this job which are incidental to the performance of fundamental job duties. All duties or requirements are essential job functions. This job description in no way states or implies that these are the only duties to be performed by the employee occupying this position. Employees will be expected to follow any other job-related instruction, and to perform any other job-related duties requested by their supervisor.

The statements herein are intended to describe the general nature and level of work being performed by employees and are not to be construed as an exhaustive list of responsibilities, duties, and skills required of personnel so classified. Furthermore, they do not establish a contract for employment and are subject to change at the discretion of the employer.