Cost Controller

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

• 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.
• 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.
• 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.
• 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.
• 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.
• 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.