Company Description
Trace Hospitality, founded in Abu Dhabi in 2019, is an emerging Food & Beverage company that specializes in restaurant management, hospitality, and catering. The company aims to support the hospitality sector within Abu Dhabi and the UAE by developing creative concepts and providing guidance to those enthusiastic about starting a business. Trace Hospitality is committed to improving food and beverage operations and services and supporting the youth in exploring the world of start-ups.
Role Description
This is a full-time on-site role for a Cost Controller at Trace Hospitality located in Abu Dhabi.
The Cost Control Specialist is responsible for managing and controlling the costs., monitoring inventory levels, analyzing financial data, and implementing cost-saving measures to ensure the financial efficiency.
, using analytical skills to analyze financial data, managing costs to optimize profitability, and ensuring sound financial management. The Cost Controller will collaborate with the finance team and other relevant stakeholders to develop and implement cost control strategies.
Key Responsibilities:
1. Cost Management:
- Develop, maintain, and update budgets for food and beverage operations.
- Monitor and track F&B expenditures against the budget.
- Identify and report variances and recommend corrective actions to stay within budget.
2. Inventory Control:
- Oversee inventory management processes, including ordering, receiving, and stocktaking.
- Ensure accurate recording of inventory levels and movements.
- Conduct regular inventory audits to minimize wastage and pilferage.
3. Cost Analysis:
- Analyze F&B costs and identify trends and areas for potential savings.
- Prepare cost forecasts and financial reports for management.
- Conduct menu engineering analysis to determine the profitability of menu items.
- Conduct actual and Theoretical Food Cost report to identify variances in all outlets.
- Create / Update all recipes in the system.
4. Financial Reporting:
- Prepare regular financial reports on F&B cost performance.
- Ensure accuracy and completeness of financial data related to F&B operations.
- Assist in the preparation of financial statements and other regulatory documents.
5. Process Improvement:
- Identify opportunities for improving cost control processes and practices.
- Implement best practices for F&B cost management.
- Overlook on the Supply Chain Ordering Procedures (Purchase Request, Purchase Order, Receiving, Corrections of Invoices).
- Conduct Minimum/ Maximum par levels of each outlets & Central Kitchen.
Qualifications
Strong knowledge and experience in cost control and cost accounting
Excellent analytical skills
Understanding of finance principles and financial management
Proven experience in cost management and optimization
Ability to analyze financial data and provide actionable insights
Attention to detail and accuracy
Strong organizational and time management skills
Bachelor's degree in finance, accounting, or a related field
Relevant certifications (e.g., CMA, CPA) are a plus
Seniority Level: Other
Job Functions: Project Management
Industries : Information Technology
