Cost Controller

We are seeking a meticulous and highly skilled Cost Controller to oversee cost control initiatives within our esteemed organization. As a vital member of our finance team, you will spearhead efforts to monitor, analyze, and optimize costs across our operations. Your expertise in cost control methodologies and financial analysis will be instrumental in driving efficiency and maximizing profitability within the restaurant industry.

.

Skills

Key Responsibilities:

1. Cost Monitoring and Analysis:

Conduct daily monitoring and analysis of costs associated with production, procurement, and distribution.

Utilize cost control tools and software to track expenditures and identify areas for cost optimization.

Perform detailed cost variance analysis to identify trends, discrepancies, and opportunities for improvement.

2. Budget Development and Management:

Collaborate with department heads to develop comprehensive budgets aligned with organizational goals.

Monitor budget performance on an ongoing basis, identifying potential risks and opportunities for cost savings.

Proactively adjust budgets as needed to ensure financial targets are met while maintaining operational efficiency.

3. Wastage Reduction:

Implement rigorous wastage monitoring processes to identify areas of inefficiency and waste within operations.

Develop and implement strategies to minimize wastage, including inventory management practices and production optimization techniques.

Promote awareness and adherence to wastage reduction initiatives.

4. Menu Costing and Engineering:

Analyze the cost of individual menu items, including ingredients, labor, and overhead, to determine profitability.

Collaborate with culinary and operations teams to optimize menu offerings for profitability and customer appeal.

Conduct regular menu engineering reviews to identify high-profit and low-profit items, making recommendations for adjustments as needed.

5. Variance Analysis and Reporting:

Prepare comprehensive financial reports, including cost forecasts, budgets, variance analyses, and performance dashboards.

Investigate cost variances and deviations from budgeted targets, identifying root causes and recommending corrective actions.

Present financial reports and analysis to senior management, providing insights and recommendations for improving cost control and financial performance.

6. Operational Excellence:

Drive continuous improvement initiatives to streamline processes, enhance cost control mechanisms, and drive overall efficiency within the F&B sector.

Collaborate with cross-functional teams to implement best practices and standardized processes for cost control and financial management.

Stay abreast of industry trends, regulatory changes, and emerging technologies to identify opportunities for innovation and improvement

• Bachelor’s degree in Finance, Accounting, Hospitality Management, or a related field. Advanced certifications such as CPA or CMA are highly desirable.
• Minimum of 3 to 5 years of progressive experience in cost control and financial analysis within the restaurant industry, with a demonstrated track record of success.
• Exceptional analytical and problem-solving abilities, with an eye for detail and the ability to interpret complex financial data.
• Strong interpersonal and negotiation skills, with the ability to effectively communicate and collaborate with internal stakeholders and external suppliers.
• Advanced proficiency in financial software, and advanced Excel skills for data analysis and reporting.

Ability to relocate