Organization
Established in 1912, Lakewood Country Club was Dallas' second 18-hole golf course. Originally designed by Scotsman Tom Bendelow, it is located on 129 acres at the corner of Abrams Road and Gaston Avenue, the perfect location to be enveloped by Dallas residents as it grew into Texas' third largest city. The Club is very successful today with a waiting list of over three years. It has truly become a second home for over 1,100 Member families, 90% of whom live within three miles from the Club.
The Club is so popular year-round that it does not really experience a peak season. Even during the heat of mid-summer, the pool and its surrounding dining and social areas become the epicenter of unprecedented dining and social activity. Golf rounds consistently exceed 30,000 annually.
Lakewood Country Club is entering into a new era of its rich and established history. In the Fall of 2025, the Club will undergo a major golf course renovation at the direction of renowned golf course architect, Andrew Green. All 18 holes are being redesigned to complement a new state-of-the-art practice facility, teaching studio and on-course comfort station. The Club also looks to address the Clubhouse in the near future following the golf course renovation. In addition to the improvements of the Club's infrastructure, there's a renewed focus on the Member and guest experience and service-minded culture amongst the team in all facets of the operation.
Lakewood Country Club Details
- Gross Revenue: $19M
- Food & Beverage: $5.8M (85% from a la carte dining)
- Clubhouse: 58,000 square feet
- Total Membership: 1,100+ families
- Wait Lists: Three years for Social Members, eight years for Golf Member
- Initiation Fee: $135,000
- Full Stock Member Dues: $15,000 annually
- A la Carte Dining Venues: Five (seating 400)
- Banquet Room Seating: 280 seated, 300 reception
- Fitness Center: 3,000 square feet
- Peak Season Employees: 300+
- Full-Time, Year-Round Employees: 175
- Tom Bendelow 18-hole championship Golf Course; redesigned in the 1950s by Ralph Plummer; redone in 2013 by Coore & Crenshaw
- Golf Practice Facility
- Golf Pro Shop
- Men's and women's Locker Rooms
- Wine Room with wine cellar
- Fitness Center and "Kidz Klub"
- Two massage rooms
- Recreational Pool with Baby Pool, Leisure Pool and Snack Bar
- Eight hard-surface, lighted Tennis Courts
- Tennis Pro Shop
- Pickleball Court
Position Overview
The Chief Financial Officer (CFO) is the foundation of Lakewood Country Club's policies and financial health. This vital position is relied upon by the General Manager/Chief Operating Officer, the senior management team and the Board of Governors to ensure the Club has the proper controls, administrative and reporting procedures, and people systems to effectively grow the organization while maintaining financial strength and operational efficiency.
Accurate record-keeping is fundamental to the CFO's role, but timely and thoughtful analysis of financial results is crucial for impacting both short- and long-term strategic decision-making. The successful CFO will be an energetic, forward-thinking and creative individual with high ethical standards and a professional image. Discretion and professionalism are paramount, along with a thorough understanding of finance, accounting, budgeting and cost control principles, including generally accepted accounting principles and human resources/payroll.
Guided by the GM/COO and within the limits of Lakewood Country Club's policies and procedures, the CFO will develop the strategic direction of the Finance Department and manage all financial aspects of the Club to maximize business potential and growth. Responsibilities include optimizing traditional financial planning and analysis, auditing, compliance, treasury, capital project accounting, financial reporting and controller functions. The CFO will also develop transformative and automated processes/systems that positively impact the business for our IT and Human Resources. This leader will identify inefficiencies, promote effective cost management initiatives, streamline the procurement process, harness analytic insights and build performance metrics and reporting for department heads.
Responsibilities
- The CFO has primary, day-to-day responsibility for planning, implementing, managing and controlling all finance-related activities of the Club. This includes direct responsibility for accounting, finance, forecasting, strategic planning, budgeting, human resources, payroll, benefits, legal, insurance, IT, banking and compliance.
- The position works directly with the General Manager and senior management team on operational and strategic issues; provides strategic recommendations based on financial analysis, revenue/expense analysis, projections and Member utilization data.
- Oversees the Director of Human Resources and our employee hiring, onboarding and termination procedures.
- Provides recommendations to strategically enhance financial performance and business opportunities.
- Oversees long-term budgetary planning and cash flow analysis in alignment with Lakewood Country Club's financial and strategic plan.
- Oversees all capital and project accounting for upcoming Golf Course renovation totaling a $45 million dollar investment and all future capital projects.
- Advises the Finance Committee regarding issues, trends and changes in the financial operations of the Club.
- Collaborates on the budgeting process in coordination with department heads, and the implementation of approved budgets; monitors progress toward achieving budget goals and presents operational issues and opportunities.
- Assists the Club's CPA firm with the preparation of the Club's annual state and federal income tax returns.
- Facilitates the Finance Committee; reports on the financial condition of the Club, sets agenda, prepares necessary reports and regularly communicates with the Finance Committee chairman and prepares the monthly meeting minutes. This also includes the Past Presidents Meeting and Annual Shareholder Meeting presentations.
- Becomes thoroughly knowledgeable of the Club's bylaws, rules and regulations, organization structure and membership procedures.
- Manages the operating and capital funds of the Club.
- Formulates accounting procedures to facilitate Club operations including cash controls, bank deposits, petty cash, payroll policies, Member billings and collection of Accounts Receivable in timely fashion.
- Ensures that finance staff maintains financial systems in accordance with Generally Accepted Accounting Principles and monitors the use of all funds.
- Oversees the preparation and approval of all financial reporting materials; monitors the monthly operating results as compared to budget, advises management about variances, and works closely with General Manager and senior management team to keep costs under control.
- Provides department managers with guidance on the financial implications of business activities.
- Manages all audit activities, including implementing and monitoring sufficient internal controls and segregation of duties to maintain the integrity of the Club's assets.
- Reviews all HR-related procedures, processes and administration, recommending improvements to the systems in place and managing the systems going forward.
- Supervises payroll preparation, disbursements, bank reconciliations, distribution and all wage and hour compliance.
- Evaluates and manages all benefits programs, ensuring the Club is providing competitive packages for employees while meeting budgetary demands.
- Serves as Administrator for the employee 401(k) program and on the Club's 401(k) oversight committee.
- Evaluates and manages all banking and borrowing-related activities.
- Evaluates and manages all insurance-related activities.
- Maintains a strong industry awareness and consistently works to improve industry knowledge and expertise.
- Sets and maintains operating procedures within the Accounting Department to include accounting support staff.
- Models core values, including professionalism, integrity and exceptional service and quality.
- Inspires a shared vision, fosters collaboration and recognizes the contributions of others.
- Performs other duties as requested by the Club.
Attributes
- An outgoing and friendly personality with a high potential to identify with and embrace the Club's unique culture.
- Highly energetic; a self-starter with a "hands-on" approach to management.
- A strong sense of service with proven staff development and training skills.
- Ability to establish and maintain effective working relationships with all staff. Teamwork is the foundation of the Club's success.
- Resolve common problems and challenges regularly with high judgment.
- Determines the best method to achieve goals and maintains the flexibility to ensure effective delivery of work. Continuously delivers high-quality results and is resilient in the face of obstacles.
- Fosters a collaborative team spirit. Actively helps and supports others. Deals with conflict in a positive manner.
- Understands all the key departments and functions and how they work collectively to achieve larger goals. Provides advice, information and direction to others to support the achievement of team and/or department goals. Recommends optimal approaches to address critical issues in the immediate and medium-term.
- An intelligent and articulate individual who can relate to people at all levels of an organization and possesses excellent written and oral communication skills. Must be able to communicate policies, procedures, regulations, reports, etc., to staff, members and guests.
- Provides exceptional member service and uses prompt and responsive follow-through. Ask questions to identify Members' needs and/or expectations. Ability to respond effectively to the most sensitive inquiries or complaints.
- Able to work in a rapidly changing work environment. Must be able to adapt to changes, manage competing demands and deal with frequent changes, delays or unexpected events.
- Remain open to others' ideas and exhibit a willingness to try new things.
- Ability to envision the Club's future and continually come up with ways to improve the entire member experience.
Requirements
- Bachelor's degree in Finance or a related field and experience that provides the required finance, knowledge, skills and abilities. A CPA would be viewed as a plus, but not required.
- Five years minimum experience as a Controller, CFO or similar position at a club or within a similar hospitality environment, resort or hotel.
- 5+ years of accounting experience in balance sheet reconciliation, accruals, G/L accounts, journal entries, variance analysis, preparing monthly financial reports, budgeting, bank reconciliations, preparing tax returns, annual audit preparation, forecasting, payroll, AR/AP, cash flow, policy and process development.
- Solid knowledge of GAAP and regulations.
- A career path marked with stability and professional achievement.
- A person of exceptional character - motivated, energetic, friendly and dedicated to the profession. A friendly and outgoing personality with strong communication skills and high visibility.
- The professional will be a lifelong learner continuing research and understanding industry trends. Excellent verbal and written skills.
- Effective coaching/supervision/training of staff.
- The ability to operate a computer to enter, retrieve or modify data utilizing Microsoft Word, Excel, Outlook, PowerPoint, email, internet and other software programs at a high level of proficiency.
- Strong working knowledge of Microsoft suite.
- Knowledge and implementation of accounting software is preferred
- Impeccable and verifiable references. All candidates will be subject to a thorough background check.
Competitive Compensation
- Competitive compensation/salary and an annual performance bonus
- Healthcare, Medical, Dental and Life Insurance
- Paid Time Off
- Participation in the Club's 401(k)
- Professional dues, educational allowance expenses and other expenses per the annual budget
- Relocation Assistance
Individuals who meet or exceed the established criteria as detailed in this position profile and posting are encouraged to send both a cover letter and resume to Tara Osborne at tara@gsiexecutivesearch.com in PDF format, attached via email with the subject line: Lakewood Country Club Director of Facilities.
Tara Osborne
Principal
tara@gsiexecutivesearch.com
512-965-5643
GSI Executive Search has been serving the private club industry for thirty years, providing a wide range of executive search and placement services. In addition to GM searches that have been performed recently, GSI consultants have done over 100 GM searches around the US in the last two years.