Cost Controller

Description

The Cost Controller is responsible for managing the hotel's cost control systems and ensuring that costs are aligned with the hotel's budgetary guidelines. They work closely with department heads, particularly in food and beverage, procurement to monitor and analyze expenditures. The role also involves providing insights and recommendations to maintain profitability and cost efficiency while ensuring service quality and standards are met in a luxury hotel environment.

What will I be doing?

As Cost Controller, you will work with all Heads of Departments to effectively control all products that enter and exit the hotel. This role is pivotal in ensuring that the luxury standards of the hotel are maintained while achieving financial efficiency.

 Specifically, you will be responsible for performing the following tasks to the highest standards.

• Track and analyze daily operational expenses, particularly in high-cost areas such as food, beverage. Implement control systems to prevent overspending.
• Assist in preparing budgets, forecasts, and financial reports. Monitor actual expenses against the budget and provide variance analysis.
• Supervise regular stock takes of hotel inventories, ensuring accurate stock levels for food, beverages, and other hotel supplies. Identify discrepancies and ensure corrective actions are taken.
• Work with the purchasing department to ensure the procurement process is cost-efficient while maintaining quality standards.
• Prepare detailed cost analysis reports and present findings to management, identifying areas for potential savings or improvement.
• Collaborate with the culinary team to analyze the cost of dishes and create menu item costings, ensuring profitable pricing.
• Conduct internal audits related to cost control measures and compliance with hotel policies, identifying any financial risks or inefficiencies.
• Ensure all cost control documentation, including invoices, purchase orders, and expense reports, are accurately maintained and easily accessible for review.
•       Provide guidance to various departments on cost-related issues, ensuring alignment with financial goals.

Requirements

What are we looking for?

A Cost Controller serving Waldorf Astoria Hotels & Resorts is always working on behalf of our Guests and working with other Team Members. To successfully fill this role, you should maintain the attitude, behaviours, skills, and values that follow:

• Bachelor’s degree in Accounting, Finance, Business Administration, or a related field.
• Minimum 3-5 years of experience in cost control or a similar role, preferably in the hospitality industry.
• Experience in a luxury hotel environment is an advantage. 
• Strong analytical skills with the ability to interpret financial data.
• Proficiency in financial software (e.g., SAP, Opera, SunSystems) and Microsoft Excel.
• Knowledge of inventory and procurement processes.
• Excellent communication and interpersonal skills.
• Detail-oriented with a proactive approach to problem-solving.
• Thorough understanding of hotel operations, particularly in F&B cost control.
• Familiarity with budgeting, forecasting, and financial reporting in a hotel setting.
• High integrity and ethics in financial management.
• Ability to work in a fast-paced, luxury environment.
• Strong organizational skills and the ability to manage multiple tasks efficiently.
• Team player with the ability to collaborate with various departments to achieve cost-saving goals.

What will it be like to work for Waldorf Astoria Hotels & Resorts?

Waldorf Astoria provides guests the exceptional environment and the personalised attention of True Waldorf Service that creates a singular experience. If you understand the value of personalised attention and know how to treat even the most extraordinarily different experiences with the same rich level of customer service, you may just be the person we are looking for!