Cost Controller at Universal Human Resource Consult

About the Role

This position offers a great opportunity for career growth. The Cost Controller is responsible for implementing, monitoring, and maintaining robust cost and inventory control systems across all hotel departments, with a particular focus on Food & Beverage (F&B) and operational supplies.

This role ensures cost efficiency, accuracy in financial reporting, and strict adherence to established financial policies and procedures to maximize hotel profitability.

Key Responsibilities

• Track and control food, beverage, and other operational costs daily against approved budgets and standard costs
• Conduct detailed weekly and monthly variance analysis, investigating significant discrepancies (e.g., high consumption, low gross profit, inventory losses) and report findings to the Financial Controller and Department Heads
• Maintain up-to-date and accurate standard recipe costs for all F&B items, ensuring menu prices reflect desired profit margins
• Oversee and monitor the entire stock movement process, including purchasing, receiving, issuing, and transfers of all materials
• Coordinate and participate in regular physical stocktakes (monthly/quarterly), reconcile physical counts with system records, and report variances
• Ensure correct security procedures are maintained in all store areas to prevent losses and ensure the "First In, First Out" (FIFO) principle is followed for stock rotation
• Ensure all stock movements are accurately and timely input into relevant cost control or inventory management software
• Check and verify supplier invoices against purchase orders, delivery notes, and agreed-upon price lists, flagging any price variances to the Purchasing department
• Research and maintain records of current market prices for key commodities to assist the Purchasing department in negotiating the best rates
• Prepare and distribute daily, weekly, and monthly cost reports, including F&B cost reports and consumption reports