Cost Controller

Roles and responsibilities

1. Financial Management:

• Oversee the budgeting process for various departments or units, ensuring alignment with organizational goals.
• Monitor and analyze financial performance across the group, providing insights and recommendations to senior management.

2. Cost Control:

• Develop and implement cost control measures to minimize waste and maximize profitability.
• Conduct regular reviews of departmental costs and identify areas for improvement or reduction.

3. Reporting:

• Prepare and present comprehensive financial reports, including variance analysis, to senior management and stakeholders.
• Ensure accurate and timely reporting of financial information across all units, maintaining transparency and accountability.

4. Compliance and Audit:

• Ensure compliance with financial regulations and internal policies related to cost control and financial reporting.
• Coordinate with internal and external auditors during audits, providing necessary documentation and explanations.

5. Forecasting:

• Prepare financial forecasts and projections based on historical data and market trends to inform strategic decision-making.
• Update forecasts regularly to reflect changes in operations, market conditions, and business strategies.

6. Team Collaboration:

• Collaborate with various departments, such as operations, finance, and procurement, to ensure effective cost management practices are followed.
• Provide training and support to department heads and staff on cost control measures and financial reporting.

7. Data Analysis:

• Analyze financial data to identify trends, variances, and opportunities for cost savings.
• Use data analytics tools and software to improve cost tracking and reporting accuracy.

8. Policy Development:

• Develop and implement policies and procedures related to cost management and financial reporting.
• Continuously review and update policies to reflect best practices and regulatory changes.

9. Inventory Management:

• Monitor and control inventory levels across the group to minimize holding costs and reduce waste.
• Implement inventory management best practices and systems to enhance accuracy and efficiency.

Desired candidate profile

1. Education:

• Bachelor’s Degree: A degree in Finance, Accounting, Business Administration, or a related field is required.
• Professional Certification: Additional qualifications such as CPA (Certified Public Accountant), CMA (Certified Management Accountant), or equivalent are highly desirable.

2. Experience:

• Relevant Experience: A minimum of 5-7 years of experience in financial management, cost control, or accounting, preferably in a multi-unit or group setting.
• Industry Experience: Experience in the hospitality, manufacturing, or retail sectors is advantageous, as it often involves complex cost structures.

3. Technical Skills:

• Financial Analysis: Proficient in financial analysis and reporting, with the ability to interpret complex data and derive actionable insights.
• Budgeting and Forecasting: Strong skills in budgeting, forecasting, and variance analysis.
• Accounting Software: Familiarity with accounting software (e.g., SAP, Oracle, QuickBooks) and advanced proficiency in Microsoft Excel.

4. Skills:

• Analytical Skills: Excellent analytical and problem-solving abilities to identify trends and make informed decisions.
• Attention to Detail: Strong attention to detail and accuracy in financial reporting and data analysis.
• Communication Skills: Effective verbal and written communication skills to convey financial information clearly to stakeholders at all levels.

5. Personal Attributes:

• Integrity and Ethics: A strong sense of ethics and integrity in financial practices and reporting.
• Proactive Attitude: A proactive approach to identifying cost-saving opportunities and implementing effective solutions.
• Team Player: Ability to work collaboratively with cross-functional teams and support a positive working environment.