Cost Controller

Roles and responsibilities

As a Cost Controller, you will play a crucial role in monitoring and optimizing the hotel's operational costs. Your responsibilities will include tracking expenses, analyzing cost data, and collaborating with various departments to ensure efficient cost management, contributing to financial efficiency.

Key Job Responsibilities:

• Monitor and analyze daily operational costs, identifying variances and trends.
• Collaborate with department heads to track and manage departmental budgets.
• Assist in cost control measures while maintaining service and quality standards.
• Oversee inventory control and management processes.
• Conduct regular inventory audits to minimize losses and waste.
• Implement procedures for the efficient use and storage of inventory.
• Prepare and maintain accurate records of expenses, ensuring compliance with accounting standards.
• Generate regular cost reports and analysis for management review.
• Identify opportunities for cost-saving and process improvement.
• Ensure compliance with financial regulations and company policies related to cost control.
• Assist in internal and external audits as needed.
• Collaborate with procurement and suppliers to negotiate favorable terms.
• Monitor vendor performance and adherence to contracts.
• Resolve billing and payment discrepancies with suppliers.
• Provide guidance and training to colleagues in cost control practices.
• Communicate cost control objectives and best practices to relevant departments.
• Contribute to the preparation of financial statements and reports.
• Collaborate with the finance team to integrate cost data into financial analysis.
• Operate in a safe and environmentally friendly manner, prioritizing guests' and colleagues' health and safety, as well as environmental conservation.
• Adhere to hotel environmental, health, and safety procedures and policies.

Desired candidate profile

Financial Expertise

Strong understanding of accounting principles, budgeting, and financial reporting.
Analytical Skills

Ability to analyze data, identify trends, and draw actionable insights.
Attention to Detail

Ensuring accuracy in cost tracking and reporting.
Communication

Presenting financial findings clearly to both technical and non-technical stakeholders.
Problem-Solving

Developing practical solutions to address cost overruns or inefficiencies.
Proficiency in Tools

Familiarity with financial software like SAP, Oracle, or specialized cost control tools.
Strong Excel skills for creating and managing financial models.
Time Management

Prioritizing tasks to meet reporting deadlines and project milestones.
Negotiation Skills

Collaborating with vendors and suppliers to achieve the best value for money.
Financial Expertise

Strong understanding of accounting principles, budgeting, and financial reporting.
Analytical Skills

Ability to analyze data, identify trends, and draw actionable insights.
Attention to Detail

Ensuring accuracy in cost tracking and reporting.
Communication

Presenting financial findings clearly to both technical and non-technical stakeholders.
Problem-Solving

Developing practical solutions to address cost overruns or inefficiencies.
Proficiency in Tools

Familiarity with financial software like SAP, Oracle, or specialized cost control tools.
Strong Excel skills for creating and managing financial models.
Time Management

Prioritizing tasks to meet reporting deadlines and project milestones.
Negotiation Skills

Collaborating with vendors and suppliers to achieve the best value for money.