Director Accounting
Resume:
Wayne S. Carney, CPA
***** ****** ***** **., ***** Potomac, MD 20878
abm2xf@r.postjobfree.com cell 202-***-****
Professional Summary
Regional Senior Director of Finance and CPA with strong technical and
analytical abilities. Has substantial and diversified International and
U.S. experience. Achieves high standards, cost savings, and employee
commitment. Drives financial performance and compliance to corporate
initiatives. Has proven experience in managing change and demonstrated
leadership during periods of business adversity.
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Experience
2007 - Present
The Ritz-Carlton Hotel Co. LLC, Chevy Chase, MD
Regional Senior Director of Finance and Accounting
Southeast, Caribbean and Latin America
Currently provides financial oversight for 15 domestic and 6 international
Ritz Carlton Hotels, 5 Ritz Carlton Residences, 1 Casino and 1 Club
operation with region wide revenue of over $1 Billion. Responsibilities
include recruiting and development of financial talent, reporting,
controls, and audit compliance.
. Improved the integrity of balance sheets and strengthened financial
controls within the region.
. Coordinated the conversion of the St. Regis Hotel in Fort Lauderdale to
the Ritz-Carlton Brand.
. Worked with the ownership groups of the San Juan, Atlanta, and Buckhead
Ritz-Carlton hotels to resolve balance sheet and working capital issues.
. Improved financial compliance and audit results for hotels throughout the
Southeast CALA Region.
. Coordinated the use and execution of a shared services accounting model
for the region.
2004 - 2007
Marriott Wardman Park, Washington, DC
Director of Finance and Accounting
The Marriott Wardman Park is the largest convention hotel in Washington,
D.C. and consists of 1,334 rooms and over 175,000 square feet of meeting
space. Annual revenue is approximately $125 million. Responsible for
capital expenditure planning, owner reporting, coordination of owner's year
end audit, sales tax reporting, internal controls, annual business plan,
forecasting, and analysis, as well as revenue growth and profitability.
Coordinated payroll and local benefit payments for over 700 union
employees. Managed accounting department of thirteen associates, including
five managers.
. Improved communication and reporting to ownership group.
. Collaborated with human resources, internal and external attorneys, and
DC Hotel Association in the resolution and renewal of our union labor
agreement.
. Negotiated two cancellation settlements in excess of $1 million each.
. Coordinated the accounting and equitable distribution of assets following
the sale of hotel between old and new ownership groups.
. Worked with new ownership group, and Marriott's Feasibility and
Development Asset Management groups to reposition the hotel in the
market.
. Appointed as Lead Director of Finance for DC/Maryland cluster.
1998 - 2004
Renaissance Mayflower, Washington, DC
Director of Finance and Accounting
The Mayflower Hotel, built in 1925, is Washington's largest luxury hotel.
It has 660 rooms and a sales volume of $60 million.
. Facilitated transition of hotel operating departments and the accounting
office to Marriott policies, payroll, and general ledger systems
following the purchase of the Renaissance brand by Marriott.
. Developed Capital Expenditure reporting process for Renaissance Hotels.
. Renegotiated valet parking and public space lease agreements resulting in
significant revenue increase for the hotel.
. Trained seven and promoted five Assistant Controllers and three Credit
Managers to higher positions within the company.
. Appointed as a member of the Renaissance Director of Finance Leadership
Team with the responsibility of performing audits and compliance reviews
of other Renaissance Hotels as well as assisting the Regional Vice
President and Regional Director of Finance on current business issues.
1996 - 1998
Marriott at Metro Center, Washington, DC
Director of Finance
. Designed a Sales and Use Tax Manual for Washington D.C. area Marriott
Hotels.
. Resolved investment and working capital issues with owner.
. Initiated review and approval from owner on the design and funding of
several capital expenditure projects that yielded a strong ROI.
. Completed due diligence and control review of the Baltimore Inner Harbor
Renaissance Hotel as part of acquisition plan.
1991 - 1996
Charlotte Marriott City Center, Charlotte, NC
Director of Finance
. Worked with owners, bank, outside consultants, and corporate staff during
period of financial stress for the property.
. Responsible for the smooth transition of the hotel to a new owner.
. Implemented cost reduction steps during period of market transition.
. Managed capital funding issues and accounting for extensive renovations.
1988 - 1991
Hamburg Marriott, Hamburg, Germany
Director of Finance
Opening Director of Finance at Marriott's first hotel in Germany.
Responsible for opening hotel and finance functions, including U.S.
consolidation, as well as financial reporting necessary for compliance to
German tax (VAT) and accounting law.
. Drafted accounting pre-opening plans and actions and achieved a total
hotel pre-opening expense at 10% less than budget.
. Established the framework for compliance to German and U.S. GAAP that
would be used for further expansion in Germany.
. Opening task force member for the Warsaw Marriott.
. Managed pre-opening accounting for the Munich Marriott.
. Assisted with the conversion of the Bremen Marriott and the training of
the Director of Finance.
1982 - 1988
Other Positions with Marriott
Opening Controller - Atlanta Norcross Marriott
Controller - Columbia Marriott
Assistant Controller - Biscayne Bay Marriott
Assistant Controller - Riyadh Marriott, Saudi Arabia
Assistant Controller - Dallas Marriott Market Center
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Education
B.A., Business Administration, Accounting Major
Duquesne University - Pittsburgh, PA
Executive MBA
Loyola College - Baltimore, MD
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Professional Affiliations
. American Institute of Certified Public Accountants
. Maryland Association of Certified Public Accountants
. Hospitality Financial and Technical Professionals (Past President
-Washington, DC Chapter)
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