F&B Cost Controller

Description

Summary: Seeking a detail-oriented Cost Controller to manage budgeting, forecasting, and cost analysis in the F&B industry, ensuring financial planning and profitability. Highlights: 1. Develop and maintain detailed budgets and cost forecasts for business units. 2. Monitor and control actual spending, performing variance analysis. 3. Collaborate on recipe costing and pricing structures for profitability. **Responsibilities** Budgeting \& Forecasting * Develop and maintain detailed budgets and cost forecasts for all business units (coffee shops and central kitchens). * Estimate costs for labor, raw materials, and overhead to ensure accurate financial planning. * Support management in annual and quarterly budgeting cycles with cost\- based analysis and projections. Cost Tracking \& Analysis * Monitor and control actual spending versus approved budgets on a daily, weekly, and monthly basis. * Perform variance analysis to identify discrepancies and potential cost overruns. * Investigate and report on causes of cost variances, wastage, and inefficiencies, proposing corrective actions where needed. Menu \& Recipe Costing * Collaborate with chefs and production teams to prepare and update recipe costing sheets and ensure profitability per menu item. * Review pricing structures regularly, accounting for ingredient price fluctuations and operational costs. * Provide cost evaluations for new product launches, seasonal offerings, and promotions. Reporting \& Insights * Prepare and present regular financial and cost reports, dashboards, and performance summaries to senior management. * Highlight key cost trends, risks, and opportunities for improvement. * Provide actionable cost\-saving recommendations and assist in implementing process improvements across departments. Collaboration \& Financial Procedures * Work closely with Operations Managers, Department Heads, and Suppliers to align financial needs with business objectives. * Coordinate with Procurement and Accounting to validate expenditures, invoices, and supplier payments. * Ensure strict adherence to company financial policies and internal control procedures. * Support audits and ensure compliance with local regulations and industry standards. **Qualification** * Bachelor's degree in Finance, Accounting, Business Administration, or a related field. * 3–5 years of proven experience in cost control, preferably in the F\&B, hospitality, or catering industry. * Solid understanding of cost management, budgeting, and financial reporting principles. * Strong analytical and problem\-solving skills with the ability to interpret financial data effectively. * Proficiency in MS Excel, ERP, and F\&B cost management software (e.g., Oracle, SAP, FMC, or similar). * Excellent communication, organizational, and teamwork skills. * Ability to perform under pressure and meet tight deadlines in a dynamic operational environment. * Certification in Cost Management, CMA, or Project Management (PMP/PMI) is an advantage. * Knowledge of POS and inventory systems commonly used in restaurants and cafés is preferred. Work Location: In person