Cost controller

5 days ago

Jeddah, Makkah Province, Saudi Arabia Food Services Co. Full time
  • Job Title:

Cost Controller

Role:

The Cost Controller is responsible for monitoring and controlling costs within an organization, analyzing financial data, identifying cost-saving opportunities, and ensuring adherence to budgetary guidelines.

Responsibilities:

· Develop and implement cost control strategies, policies, and procedures to manage and optimize expenses across the organization.

· Monitor and analyze financial data, including budgets, forecasts, and actual expenses, identifying variances, trends, and areas of concern, and providing insights to senior management.

· Prepare and present financial reports, dashboards, and performance metrics to track and communicate cost control efforts, highlighting opportunities for improvement and areas of risk.

· Coordinate with department heads and project managers to establish budgetary guidelines, allocate funds, and monitor spending against approved budgets and forecasts.

· Conduct regular budget reviews and variance analyses, identifying discrepancies, root causes, and corrective actions to ensure budget compliance and cost containment.

· Implement cost-saving initiatives and efficiency improvements, such as process automation, vendor negotiations, and inventory management strategies, to reduce expenses and improve profitability.

· Collaborate with procurement, operations, and finance teams to streamline processes, standardize procedures, and optimize resource allocation to minimize waste and maximize value.

· Ensure compliance with financial policies, procedures, and regulations, including internal controls, audit requirements, and accounting standards, to maintain financial integrity and transparency.

· Develop and maintain relationships with key stakeholders, such as department heads, finance managers, and external auditors, fostering collaboration and alignment on cost control objectives and initiatives.

· Stay updated on industry trends, economic conditions, and best practices in cost control and financial management, continuously learning and adapting strategies to remain competitive and innovative.

KPIs:

· Recipe review and cost parameter adjustments

· Demand planning vs budget

· Cost savings achieved

· Budget variance (actual vs. budgeted)

· Cost per unit or cost per project

· Return on investment (ROI) for cost-saving initiatives

· Inventory turnover ratio

· Procurement cost savings

· Operating expense ratio

· Gross margin percentage

· Net profit margin

Employee satisfaction and engagement in cost control effort

Job Type: Full-time

Pay: ﷼6, ﷼7,000.00 per month

Ability to commute/relocate:

  • Jeddah: Reliably commute or planning to relocate before starting work (Preferred)

Work Location: In person

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