Job Description

Job Title:

Cost Controller

Role:

The Cost Controller is responsible for monitoring and controlling costs within an organization, analyzing financial data, identifying cost-saving opportunities, and ensuring adherence to budgetary guidelines.

Responsibilities:

Develop and implement cost control strategies, policies, and procedures to manage and optimize expenses across the organization.

Monitor and analyze financial data, including budgets, forecasts, and actual expenses, identifying variances, trends, and areas of concern, and providing insights to senior management.

Prepare and present financial reports, dashboards, and performance metrics to track and communicate cost control efforts, highlighting opportunities for improvement and areas of risk.

Coordinate with department heads and project managers to establish budgetary guidelines, allocate funds, and monitor spending against approved budgets and forecasts.

Conduct regular budget reviews and variance analyses, identifying discrepancies, root causes, and corrective actions to ensure budget compliance and cost containment.

Implement cost-saving initiatives and efficiency improvements, such as process automation, vendor negotiations, and inventory management strategies, to reduce expenses and improve profitability.

Collaborate with procurement, operations, and finance teams to streamline processes, standardize procedures, and optimize resource allocation to minimize waste and maximize value.

Ensure compliance with financial policies, procedures, and regulations, including internal controls, audit requirements, and accounting standards, to maintain financial integrity and transparency.

Develop and maintain relationships with key stakeholders, such as department heads, finance managers, and external auditors, fostering collaboration and alignment on cost control objectives and initiatives.

Stay updated on industry trends, economic conditions, and best practices in cost control and financial management, continuously learning and adapting strategies to remain competitive and innovative.

KPIs:

Recipe review and cost parameter adjustments

Demand planning vs budget

Cost savings achieved

Budget variance (actual vs. budgeted)

Cost per unit or cost per project

Return on investment (ROI) for cost-saving initiatives

Inventory turnover ratio

Procurement cost savings

Operating expense ratio

Gross margin percentage

Net profit margin

Employee satisfaction and engagement in cost control effort

Job Type: Full-time

Pay: ?6,000.00 - ?7,000.00 per month

Ability to commute/relocate:

Jeddah: Reliably commute or planning to relocate before starting work (Preferred)
Work Location: In person