Cost Controller

A symbol of Saudi Arabia’s heritage, The Red Palace stands as an extraordinary landmark in Riyadh, now reimagined as an ultra-luxury boutique hotel. Originally built in 1943, this historic Palace has been transformed into a masterpiece of refined hospitality, blending timeless elegance with contemporary sophistication.Nestled in the heart of the capital, The Red Palace offers an exclusive glimpse into the Kingdom’s storied past, featuring meticulously restored architecture, curated cultural experiences, and unparalleled service. Every detail has been thoughtfully designed to honor its legacy while delivering a modern interpretation of luxury. At The Red Palace, we invite guests to step into a world of history, prestige, and indulgence, where tradition and innovation seamlessly come together.JOB TITLE: Cost ControllerREPORTING TO: Chief Accountant / Director of FinanceTHE POSITIONTo administer and oversee all cost control processes within the hotel to ensure that appropriate internal control procedures are implemented effectively. This role supports financial accuracy, inventory control, and cost efficiency across all departments while ensuring compliance with company policies and audit standards.Key RelationshipsInternal:Hotel Executive CommitteeAll Hotel DepartmentsExternal:RESPONSIBILITIESEnsure cost control systems and procedures are developed and maintained to support accurate auditing and internal control processes.Provide Department Heads with monthly financial data to enable them to analyze their performance and manage their departments profitably.Review daily flash food cost reports by outlet and investigate any variances or spoilage to prevent excessive losses.Verify inter-bar transfers on a daily basis to ensure proper postings and accurate reconciliation at month-end.Ensure that purchasing, receiving, transferring, and issuing procedures are followed in accordance with the Internal Operating Procedures Manual and company policies.Administer monthly inventory processes to ensure controlled stock levels and minimize losses across the hotel.Oversee menu pricing in collaboration with relevant department heads to ensure optimal revenue and cost efficiency.Monitor inventory movements and consumption patterns to identify discrepancies and areas for cost improvement.Coordinate with Purchasing, Finance, and operational departments to ensure proper cost monitoring and reporting.Embrace and practice the company’s legacy values and competencies in all, team, and stakeholder interactions, acting as a role model for the desired culture and behaviors.Support financial reporting by providing accurate cost data and analysis.Perform any other duties that management may reasonably assign.FINANCIAL ACCOUNTABILITYEnsure all cost control procedures comply with internal control standards and audit requirements.Monitor food, beverage, and operational costs to ensure they remain within budgeted levels.Verify accuracy of inventory valuation and cost allocations.Support month-end closing activities including stock reconciliations and cost analysis.Identify cost discrepancies and report findings to the Director of Finance for corrective action.QUALIFICATIONSBachelor’s degree in Accounting, Finance, Business Administration, or a related field.Minimum 3 years of experience in a similar role.Previous experience in the hospitality industry is preferred.Strong English communication skills and proficiency in computer applications, particularly Microsoft Office.EXPERIENCEMinimum 3 years of experience in a Cost Control position in the Middle East.Demonstrated experience working in a high-volume and high-pressure environment.Experience in the hospitality or customer service industry.Experience working in KSA or GCC countries.MAIN COMPETENCIESExcellent organizational skills with the ability to multitask and meet deadlines.Familiarity with back-office systems and financial control systems.Strong numerical and analytical skills.Organized, methodical, and logical thinking.High level of accuracy and attention to detail.Strong verbal and written communication skills in English.Advanced proficiency in Microsoft Office applications, particularly Excel.#J-18808-Ljbffr