Cost Controller - F&B

Cost Controller

Reporting to: Finance Manager

The Cost Controller involves in monitoring and managing expenses to ensure they align with the budget, enhance resources and processes to minimize waste and increase profitability. Employees should adhere to company rules and fulfill their assigned responsibilities, while also recognizing that their duties may extend beyond the specific tasks outlined.

Duties:

Employees should adhere to company rules and fulfill their assigned responsibilities, while also recognizing that their duties may extend beyond the specific tasks outlined. Employees should maintain professional conduct by:

• Showing respect and courtesy to all colleagues,
• Adhering to the dress code
• Using professional communication skills.
• Proper hygiene,
• Accurate attendance and
• Mindful use of company property

Responsibilities:

• Review and update the cost cycle, including updating recipes and calculating new elements or components to ensure accurate pricing and cost allocation.
• Reconcile cost and inventory accounts periodically, ensuring alignment of the cost unit with the general ledger.
• Assist in preparing and updating annual cost budgets in collaboration with the budgeting team.
• Coordinate with the inventory control team to resolve any cost discrepancies and maintain effective communication between them.
• Supervise and support the cost team, ensuring that tasks and monthly closing steps are completed accurately and on time.
• Monitor financial controls related to food and beverage costs to ensure accuracy and its compliance with company policies.
• Review cost reports to verify that all cost elements for products are correct and provide solutions to management regarding pricing, profitability and other influencing factors.
• Analyze menu engineering and maintain profitability factors in accordance with the sales.
• Follow-up on all cost-related operations in the resource planning system.
• Monitor all reports and identify variances between actual and planned consumption, determining all deviations, managing solutions, and tracking the quality and effectiveness of the proposed solutions.
• Develop and implement policies, procedures, and processes to improve operational efficiency in cost management.
• Prepare and present monthly reports, budgets, and annual budgets in coordination with the managers responsible.
• Provide all functional levels with periodic reports to enhance management efficiency.
• Lead and motivate the cost team, providing training and professional development opportunities.
• Continuously contributes to improving management information systems and accounting systems.
• Execute additional tasks as needed to ensure smooth management operations and achieve company objectives.

Requirements:

• Bachelors degree in Commerce, finance or Business Administration.
• 10 to 12 Years of experience in F&B or hospitality industry.
• Ability to work under extreme pressure
• Communication Arabic & English
• Time management & Leadership
• Attention to detail
• MS Office, Oracle, ERP