Cost Controller

3 weeks ago

Riyadh, Ar Riyāḑ, Saudi Arabia BAAN Holding | بان القابضة Full time

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Talent Acquisition & Development Manager

JOB SUMMARY

The Cost Controller is responsible for monitoring and managing costs within the corporate hospitality sector. This role involves analyzing financial data, developing cost control measures, and providing insights to enhance profitability and operational efficiency. The Cost Controller will work closely with the Area Financial Controller to support financial decision-making and ensure adherence to budgetary guidelines.

Key Responsibilities:

  • Cost Analysis: Conduct detailed analysis of costs associated with hospitality operations, identifying trends and variances to inform strategic decisions.
  • Budget Management: Assist in the preparation and management of departmental budgets, ensuring alignment with overall financial goals and objectives.
  • Cost Control Measures: Develop and implement cost control procedures to monitor expenses and optimize resource utilization across operations.
  • Reporting: Prepare and present regular cost reports to the Area Financial Controller, highlighting key performance indicators (KPIs) and areas for improvement.
  • Inventory Management: Monitor inventory levels and usage, providing insights to minimize waste and ensure efficient stock management.
  • Collaboration: Work closely with operational teams to provide guidance on cost management practices, ensuring adherence to budgets and financial targets.
  • Variance Analysis: Analyze variances between actual and budgeted costs, providing explanations and recommendations for corrective actions.
  • Forecasting: Assist in financial forecasting and planning processes, providing input on cost trends and potential impacts on profitability.
  • Audit Support: Support internal and external audits by providing necessary documentation related to cost management and control processes.
  • Continuous Improvement: Stay informed about industry best practices in cost control and suggest improvements to enhance financial performance.

Qualifications:

  • Bachelor's degree in finance, accounting, hospitality management, or a related field.
  • Master's degree or MBA preferred.
  • Minimum 5 years of experience in cost control, financial analysis, or accounting, preferably within the hospitality sector.
  • Previous experience in a similar role is advantageous.
  • Proficiency in accounting software, cost control systems, and data analysis tools.
  • Strong Microsoft Excel skills for financial modeling and reporting.

Core Skills:

  • Analytical Skills: Strong analytical skills to interpret financial data and provide actionable insights.
  • Attention to Detail: High level of accuracy and attention to detail in cost analysis and reporting.
  • Communication: Excellent written and verbal communication skills, with the ability to convey financial information clearly to stakeholders.
  • Problem-Solving: Proven ability to identify cost-related issues and develop effective solutions.
  • Organizational Skills: Strong organizational skills to manage multiple tasks and prioritize effectively.
  • Team Collaboration: Ability to work collaboratively with cross-functional teams to enhance cost management practices.
  • Time Management: Ability to manage time effectively and meet deadlines consistently.
  • Cost Efficiency: Achieve targeted cost savings through effective monitoring and control measures.
  • Budget Compliance: Ensure adherence to budgetary guidelines across hospitality operations.
  • Reporting Accuracy: Provide timely and accurate cost reports to the Area Financial Controller.
  • Operational Insights: Deliver actionable insights that drive operational efficiency and profitability.
  • Process Improvement: Identify and implement improvements to cost control processes to enhance effectiveness and efficiency.
  • Financial Compliance: Maintain compliance with all relevant regulations and internal policies related to cost management.
Seniority level

Mid-Senior level

Employment type

Full-time

Job function

Accounting/Auditing, Analyst, and Finance

Industries

Hospitality, Financial Services, and Accounting

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