- As a Cost Controller, you will be responsible for developing and implementing cost control procedures to ensure efficient financial management within the organization.
- Collaborate cross-functionally to develop and manage budgets, closely tracking expenditures and variances to ensure alignment with financial objectives.
As a Cost Controller, your primary focus will be on formulating and executing cost control measures to enhance overall fiscal efficiency.• Character requirements
- Pleasing Personality: Positive, Energetic, Motivated & Optimistic
- Courteous, Respectful & Polite
- Excellent attention to details
- Able to demonstrate a clear passion for the F&B and Service Industry
- Excellent face-to-face and telephone communication skills
- Ability to work under challenging situations
- A good listener, and able to consider all information
- Flexible and willing to work extra hours, if necessary
Specific Roles and Responsibilities
Results Focus
• Monitor food and beverage costs, including raw materials, supplies, and waste.
• Collaborate with chefs and kitchen staff to ensure menu pricing/ recipes are
aligned/updated with food costs.
• Monitor inventory turnover and wastage.
• Conduct regular stock audits, reconcile inventory discrepancies, and report issues to senior
management.
• Evaluate supplier pricing and cost efficiencies.
• Identify cost-saving opportunities, Monitor and analyze monthly and weekly cost trends.
• To work in conjunction with relevant department heads to ensure maximum profitability
• To review and analyse the consumption of all operational units, and accurately report on
costs, including usage and wastage
• Review and verify sales and usage reports from branches and prepare periodic reports on
food costs
• Review and verify all discounts, complimentary sales , staff meals, staff discounts, voided
transactions and deductions on the POS systems
• Prepare a Daily Cost of Sales report for the executive management
• Review and verify all settlements made through the POS system
• Conduct regular reviews and analysis on the actual cost of sales recorded in each operational
branch and tally with inventories, requisitions and distributions, and ensure that the costs
are within budgeted amounts
• Ensure accuracy of pricing on all internal management software and systems, most
significantly, the POS and Inventory Management system
• Tally all end of shift reports generated from all POS tills and submit a detailed report to the
management on daily basis
• Conduct surprise spot checks on inventory and cash balances at all operational units
• Conduct random testing of inventory at all operational branches by reconciling the opening
stock with the closing stock, taking account of store issues and sales
• Assess all incoming products, resources, and services to ensure the best price by keeping up
to date on new vendors and possible cost-cutting partnerships
• Responsible for checking invoices against receiving record and compare them with purchase
order and purchase request, and to ensure that all invoices are stamped and signed by the
authorized person
• Check and review all filled requisitions and ensure that goods are not issued more than
requested, and that correct stock levels are maintained (no under or over ordering)
• Ensure no materials are issued from the store without a duly prepared requisition or
approval from the respective department head
• Conduct spot checks to ensure that the goods received are as per specifications and the
deliveries of goods by suppliers are consistent with the receiving schedule and the
storerooms are not overstock especially during month end.
• Conduct weekly and monthly inventory counts and audit monthly stock, preparing
necessary reconciliation reports
• Collaborate with Branch Managers to strategize ways to minimize wastage
• Always seek to develop and implement proactive solutions and cost-cutting measures
• Remain acutely aware of market trends that could impact resource costs
• Demonstrate a comprehensive understanding of the interdependency of cost drivers
Self-Learning & Development
• Develop detailed product knowledge & menu knowledge
• Be fully committed and dedicated to personal development and growth, working toward
the achievement of performance targets on agreed periodic basis
• Engage in Training Sessions when required
Knowledge Management
• Ensuring all processes and procedures within the business are captured and are well
documented and updated on a regular basis
• Ensures all paperwork is kept in meticulous order and correctly executed within the
operational units, complying with all management information and reporting requests
and in compliance with legal/regulatory standards/requests
• Ensures that all documentations are up to date and the team is following and are audited
as per the set benchmarks on a regular basis
Technology Management
• Ensures that the team use only the hardware and software systems as provided by the
Company for all communications, information and data storage purposes
• Ensure Quality Standards set are adequately followed and a culture for the same is
developed and maintained across all teams
Confidentiality & Ethics
• Ensure full compliance with the Company’s Confidentiality policy and Third-Party Non-
Solicitation policy which prohibits the sharing or discussion of sensitive information and
the earning of fees through third party channels not connected with the Company;
• Protection of the Company at all times in relation to informational databases, IP, secrets
and strategy, as well as sensitive information, all of which may not be discussed with any
unauthorised person
• Ensure all sensitive client and Company information remains confidential and ensure this
culture is built across the Branch
• Ensure any unethical behaviour of any team member is quickly brought to the attention
- of Senior Management, so that it may be appropriately addressed.
Skills
- Strong communication skills: Effective communication is vital for a cost controller to collaborate with various departments, present financial reports to management, and provide recommendations for cost improvements. Clear communication fosters understanding and facilitates the implementation of cost-saving strategies.
- Meticulous attention to detail is essential for a cost controller to catch discrepancies in financial records and maintain accurate financial documentation.
- A cost controller should possess strong communication skills to facilitate collaboration with different departments, present financial reports, and offer valuable recommendations for cost improvements.
- Essential for success, proficiency in financial software and tools empowers a cost controller to streamline financial processes, generate accurate reports, and analyze data efficiently.
Pre-requisites
• Bachelor’s / master’s degree in finance and accounting or relevant fields
• Specialization in cost accounting – highly preferred
• Minimum 3 years of experience in similar role and well versed with Accounting System, POS
Systems and cost and inventory systems.
• Advanced knowledge of Microsoft Office package -Word, Excel and Power Point
• Hands-on experience in data analysis software- added advantage
• Exceptionally well organized with cost analysis techniques
• Ability to overcome time constraints
• Excellent MIS reporting skills.
• Ability to multitask, work in a fast-paced environment.
• Ability to work independently and to partner with others to promote an environment of