Restaurant Cost Controller at IBIC Investment Holdings

Job Summary:

• The Restaurant Cost Controller is responsible for overseeing the restaurant's overall financial and operational performance by managing costs, analyzing financial data, and implementing cost-saving strategies.
• This role involves maintaining accurate financial records, monitoring inventory levels, and ensuring adherence to budgets to optimize profitability.

Key Responsibilities:

Financial Analysis and Reporting:

• Analyze financial statements and reports to identify areas of cost control and savings.
• Prepare monthly, quarterly, and annual financial reports.
• Monitor key financial metrics such as food cost, beverage cost, labor cost, and overhead expenses.

Budget Management:

• Assist in the preparation of the annual budget.
• Monitor actual vs. budgeted costs and variances, and recommend corrective actions.
• Ensure that all financial transactions are in compliance with the budget.

Inventory Management:

• Oversee inventory counts and reconcile discrepancies.
• Implement effective inventory control measures to minimize waste and theft.
• Maintain accurate inventory records and ensure timely procurement of supplies.

Cost Control:

• Develop and implement cost-saving initiatives.
• Analyze cost variances and recommend corrective actions.
• Work with kitchen and bar staff to ensure portion control and minimize waste.

Supplier Management:

• Negotiate with suppliers to secure the best prices and terms.
• Evaluate supplier performance and ensure timely delivery of goods.
• Establish and maintain strong relationships with suppliers.

Compliance:

• Ensure compliance with all financial regulations and standards.
• Maintain accurate and up-to-date financial records.
• Coordinate with auditors during financial audits.

Training and Development:

• Train staff on cost control measures and financial procedures.
• Provide ongoing support and guidance to the finance team.

Other Duties:

• Assist with special projects as needed.
• Participate in management meetings and provide financial insights.

Qualifications:

• Bachelor’s degree in Finance, Accounting, Business Administration, or a related field.
• Minimum of 3-5 years of experience in a similar role, preferably in the hospitality industry.
• Strong analytical and problem-solving skills.
• Proficiency in accounting software and Microsoft Office Suite (Excel, Word, PowerPoint).
• Excellent organizational and time-management skills.
• Strong communication and interpersonal skills.
• Attention to detail and a high level of accuracy