Cost Control Officer

JOB SUMMARY:

• The Cost Control Officer analyzes spending, assist Food & Beverage with forecasting needs, and implement cost-saving measures to maintain costs and meet financial targets. Prioritize tasks, delegate efficiently, and review work to ensure effective team performance .

RESPONSIBILITIES:

• Approve all inter-transfers between the Revenue Centers and Production outlets to ensure inventory tracking and maintain operation control.
• Work together with Food & Beverage personnel and kitchen staff to establish accurate food and beverage prices and recipe costing respectively.
• Review weekly cost reports and monthly analyses, service/bar and kitchen consumption reports, and various store issuance reports to monitor expenses, control inventory and identify cost variances for effective financial management.

• Authorize Food & Beverage inter-transfers of stock among outlets and stores, purchase requests, and orders to ensure proper inventory control, prevent stock discrepancies, and maintain procurement compliance.
• Review banquet event orders and micros change advice forms to ensure accuracy of event details and proper configuration of point-of-sale systems for seamless operations.
• Supervise month-end and year-end inventory counts on all service/bar, kitchen and stores to ensure accurate inventory records and support financial and cost control processes.

• Perform Yield Test for New Recipe to determine ingredient yields, ensure accurate costing, and maintain portion control.
• Review of Portion for Recipe Ingredients to ensure consistency, cost control and product quality.
• Project the Cost Mark Up vs Selling Price to ensure profitability and pricing accuracy.

• Review selling prices of all trading stocks and their cost of sales to ensure alignment within the business plan.
• Manage the Inventory material management system to warrant accurate costing.
• Review inventory turnover and related ratios to identify slow-moving and obsolete items, and approve their disposal to optimize inventory levels and reduce holding costs.

• Performance Management: Manage and drive high performance among direct reports, and help them achieve their performance goals . This also includes conducting performance evaluations.
• Coaching and Mentoring: Provides guidance to direct reports in performing their areas of responsibility, and supports their growth and development.
• Employee Engagement: Implement initiatives and provide a work environment that will promote employee engagement and high commitment to the company.

QUALIFICATIONS:

• Must be a college graduate, of any of the following courses: Finance, Business, Economics, Accounting or a related field
• At least two (2) years of relevant experience in cost control.
• Excellent verbal and written communication skills
• Excellent analytical and critical thinking skills
• Excellent project management skills
• Good understanding of cost control processes, policies, and best practices
• Proficiency in office applications (GSuite, MS Office, etc.)