Cost Controller
Contract type :Permanent
Availability :Full time
Job description
The Cost Controller is responsible for monitoring, analyzing, and managing costs to ensure financial efficiency and profitability. This role plays a crucial part in budgeting, forecasting, cost allocation, and variance analysis to support strategic decision-making and optimize business operations within the retail group.
KEY RESPONSIBILITY
1. Cost Monitoring & Control:
- Track, monitor, and control company expenses to ensure adherence to approved budgets.
- Analyze cost structures and identify areas for cost reduction and efficiency improvements.
- Implement cost-control measures to enhance operational and financial performance.
2. Budgeting & Forecasting:
- Assist in the preparation of annual budgets and periodic financial forecasts.
- Conduct detailed cost analysis to support budgeting and business planning.
- Work with various departments to establish and maintain budgetary control mechanisms.
3. Variance Analysis & Reporting:
- Conduct variance analysis by comparing actual costs with budgeted figures and identifying discrepancies.
- Prepare reports on cost deviations, trends, and recommendations for corrective actions.
- Provide insights to senior management on cost-related risks and opportunities.
4. Cost Allocation & Process Improvement:
- Ensure proper cost allocation across business units, brands, and operational segments.
- Collaborate with procurement, supply chain, and operations teams to optimize cost efficiency.
- Develop and implement best practices for cost control and financial reporting.
5. Compliance & Risk Management:
- Ensure compliance with company policies, financial regulations, and audit requirements.
- Monitor financial transactions to prevent fraud, wastage, and misallocation of funds.
- Assist in internal and external audits by providing necessary cost data and reports.
6. MIS Reporting & Decision Support:
- Prepare and present cost reports, profitability analysis, and financial dashboards.
- Support decision-making by providing accurate cost data and scenario analysis.
- Utilize ERP systems and data analytics tools to enhance cost reporting and transparency.
DESIRED EXPERIENCE
The ideal Cost Controller should have 5+ years of experience in cost control, financial analysis, or management accounting with strong analytical and problem-solving skills with attention to detail. Proficiency in financial software and ERP systems (SAP, Oracle, etc.) is preferred.
KEY RELATIONSHIPS
Account - Manager, Chief Accountant, Key Accounts Manager, Senior Accountant, Executives, etc.
KEY RESPONSIBILITY
1. Cost Monitoring & Control:
- Track, monitor, and control company expenses to ensure adherence to approved budgets.
- Analyze cost structures and identify areas for cost reduction and efficiency improvements.
- Implement cost-control measures to enhance operational and financial performance.
2. Budgeting & Forecasting:
- Assist in the preparation of annual budgets and periodic financial forecasts.
- Conduct detailed cost analysis to support budgeting and business planning.
- Work with various departments to establish and maintain budgetary control mechanisms.
3. Variance Analysis & Reporting:
- Conduct variance analysis by comparing actual costs with budgeted figures and identifying discrepancies.
- Prepare reports on cost deviations, trends, and recommendations for corrective actions.
- Provide insights to senior management on cost-related risks and opportunities.
4. Cost Allocation & Process Improvement:
- Ensure proper cost allocation across business units, brands, and operational segments.
- Collaborate with procurement, supply chain, and operations teams to optimize cost efficiency.
- Develop and implement best practices for cost control and financial reporting.
5. Compliance & Risk Management:
- Ensure compliance with company policies, financial regulations, and audit requirements.
- Monitor financial transactions to prevent fraud, wastage, and misallocation of funds.
- Assist in internal and external audits by providing necessary cost data and reports.
6. MIS Reporting & Decision Support:
- Prepare and present cost reports, profitability analysis, and financial dashboards.
- Support decision-making by providing accurate cost data and scenario analysis.
- Utilize ERP systems and data analytics tools to enhance cost reporting and transparency.
DESIRED EXPERIENCE
The ideal Cost Controller should have 5+ years of experience in cost control, financial analysis, or management accounting with strong analytical and problem-solving skills with attention to detail. Proficiency in financial software and ERP systems (SAP, Oracle, etc.) is preferred.
KEY RELATIONSHIPS
Account - Manager, Chief Accountant, Key Accounts Manager, Senior Accountant, Executives, etc.