JOB SUMMARY:
The Cost Controller is responsible for overseeing and managing the company’s cost management processes. This role involves analysing costs, monitoring budgets, forecasting financial outcomes, and implementing cost control measures to ensure financial efficiency and effectiveness. The Cost Controller will work closely with various departments to provide detailed cost analysis and support decision-making processes to drive profitability.
RESPONSIBILITIES:
- • Analyse costs and expenditures to identify trends, variances, and opportunities for cost reduction.
- • Monitor and review cost reports and budgets to ensure financial targets are met.
- • Develop and manage departmental and project budgets in collaboration with department heads.
- • Prepare and present budget reports, highlighting key variances and recommendations for corrective actions.
- • Generate and maintain accurate financial reports, including cost reports, variance analysis, and budget forecasts.
- • Provide regular updates to management on financial performance and cost-related issues.
- • Implement and maintain cost control procedures and best practices across the organization.
- • Identify inefficiencies and recommend process improvements to reduce costs and enhance financial performance.
- • Oversee and track project costs, ensuring they align with budgetary constraints and project goals.
- • Provide cost estimates and financial forecasts for new projects and initiatives.
- • Work closely with various departments to ensure accurate cost allocation and financial reporting.
- • Communicate cost-related insights and recommendations to management and other stakeholders.
- • Ensure compliance with financial regulations, company policies, and accounting standards.
- • Assist with internal and external audits by providing necessary documentation and reports.
- • Stay updated on industry trends and best practices in cost control and financial management.
- • Suggest and implement improvements to cost control systems and processes.
REQUIREMENTS:
- • Degree in Accounting, Finance, Business Administration, or a related field.
- • Professional certification (e.g., ACCA, CPA, CMA) is preferred.
- • Proven experience (typically 7-9 years) in cost control, financial analysis, or a similar role.
- • Strong analytical skills and attention to detail.
- • Proficiency in financial software and Microsoft Office Suite (Excel, Word, PowerPoint).
- • Excellent communication and interpersonal skills.
- • Ability to work independently and manage multiple tasks effectively.