Cluster Cost Controller
|Company Name:||Confidential Company|
|Employment Type:||Full Time|
|No. Of Vacancies:||1|
1. Cost Control and Budget Management:
Develop and implement cost control strategies, policies, and procedures specific to the hospitality industry.
Monitor and analyze financial data related to hotel operations to identify cost-saving opportunities and areas of improvement.
Prepare and manage the annual budget for the hotels, considering industry-specific factors and financial targets.
Review and approve expenditures, ensuring compliance with budgetary guidelines specific to the hospitality industry.
2. Financial Analysis and Reporting:
Conduct regular financial analysis and prepare comprehensive reports on cost variances, trends, and performance indicators specific to the hospitality industry.
Provide accurate and timely financial reports to management, highlighting key findings and recommendations relevant to the hospitality industry.
Collaborate with the finance team to perform regular audits specific to the hospitality industry and ensure data integrity.
3. Inventory Management:
Develop and implement inventory control procedures tailored to the unique requirements of the hospitality industry to optimize stock levels and minimize wastage.
Monitor and reconcile inventory records, ensuring accuracy and consistency, with a focus on hospitality-specific items such as food, beverages, linens, amenities, etc.
Coordinate with purchasing and receiving departments to manage inventory levels and pricing, considering industry-specific factors like seasonality and guest demand.
4. Vendor Management:
Negotiate and maintain contracts with suppliers, ensuring favorable pricing and quality standards specific to the hospitality industry.
Evaluate vendor performance and conduct regular cost comparisons to identify cost-effective alternatives while maintaining industry-specific quality standards.
Develop and maintain strong relationships with hospitality-specific vendors to ensure a reliable supply chain.
5. Cost Optimization and Efficiency:
Identify opportunities for cost optimization and process improvement within the hospitality industry, taking into account areas such as food and beverage operations, housekeeping, energy management, and labor costs.
Collaborate with department heads in the hotels to develop and implement cost-saving initiatives tailored to the unique requirements of the hospitality industry.
Provide guidance and training to employees on cost-conscious practices and expense management specific to the hospitality industry.
6. Compliance and Internal Controls:
Ensure compliance with financial regulations, policies, and procedures specific to the hospitality industry.
Develop and enforce internal controls tailored to the unique challenges and risks faced by the hospitality industry.
Assist with internal and external audits specific to the hospitality industry as required, addressing industry-specific compliance areas such as guest data privacy and security.
Desired Skill & Expertise
Bachelor’s degree in Finance, Accounting, Hospitality Management, or a related field, with a strong focus on finance and cost control.
Proven experience in cost control, finance, or accounting roles within the hospitality industry, demonstrating a deep understanding of industry-specific financial practices.
Familiarity with hospitality industry standards, regulations, and best practices related to cost control, budgeting, and financial management.
Strong analytical skills with the ability to interpret complex financial data within the context of the hospitality industry.
Proficiency in financial analysis and reporting tools commonly used in the hospitality industry.
Excellent knowledge of hospitality-specific cost drivers, inventory management principles, and purchasing processes.
Strong attention to detail and accuracy in handling financial information specific to the hospitality industry.
Excellent communication and interpersonal skills to collaborate effectively with cross-functional teams, vendors, and hotel management.
Ability to work independently and collaboratively in a fast-paced hospitality environment, adapting to changing priorities and deadlines.
Knowledge of relevant software applications used in the hospitality industry, such as property management systems (PMS), point of sale (POS) systems, and inventory management software.
Understanding of hospitality-specific compliance requirements, including guest data privacy and security regulations.
Familiarity with the operational aspects of the hospitality industry, including food and beverage operations, housekeeping, and labor management, to provide well-rounded financial guidance.
Proactive mindset and problem-solving abilities to identify cost-saving opportunities and implement effective solutions within the unique dynamics of the hospitality industry.