Cost Controller 🎉
- Dar es Salaam, Tanzania
- viaKaziConnect
2 months ago
Mid Level
Hospitality and Tourism
2 - 5 years
Bachelor's Degree in Finance, Accounting, Business Administration, or a related field
Job Summary
We are seeking an experienced Cost Controller to oversee and manage the financial operations related to cost control within our tourism and hospitality company. The Cost Controller will play a crucial role in ensuring the company operates efficiently and profitably by managing expenses, identifying cost-saving opportunities, and improving financial performance. This position is pivotal in supporting management with accurate financial insights, budgeting, and cost reporting.
Duties And Responsibilities
- Track, record, and analyze all costs associated with operations, including inventory, labor, and operational expenses.
- Monitor daily and monthly costs in various departments such as food and beverage, accommodation, transportation, and tours.
- Provide regular reports on cost performance, trends, and variances, with recommendations for optimization.
- Assist in the preparation of annual budgets and monthly forecasts.
- Work closely with department heads to set realistic cost targets and control expenses within the set budgets.
- Ensure alignment between actual performance and budgeted goals.
- Conduct periodic audits and spot checks of inventory levels to prevent wastage, pilferage, and overstocking.
- Collaborate with the procurement team to ensure cost-effective purchasing without compromising quality.
- Analyze supplier contracts and negotiate better terms where possible.
- Prepare and present comprehensive cost analysis reports to management, highlighting any discrepancies and areas for improvement.
- Ensure all financial transactions adhere to company policies and local Tanzanian financial regulations.
- Collaborate with internal and external auditors to ensure transparency and accuracy in financial reporting.
- Develop, implement, and monitor cost control systems and procedures across the organization.
- Work with the IT team to ensure financial software systems support accurate cost tracking and reporting.
- Identify areas where technology can be used to enhance efficiency and reduce costs.
- Train and mentor staff on cost control procedures, including waste reduction, resource management, and budgetary discipline.
- Promote a culture of financial accountability and cost awareness across departments.
Education Other Skills Required
- Bachelor's Degree in Finance, Accounting, Business Administration, or a related field. A Master’s degree is an added advantage.
- Professional certification in accounting or finance (e.g., CPA, ACCA) is highly preferred.
- Minimum of 3-5 years of experience in a cost control or financial management role, preferably in the tourism or hospitality industry.
- Prior experience working in Tanzania or East Africa, with knowledge of local regulations and business practices, is a plus.
- Strong analytical and financial modeling skills.
- Proficiency in accounting and financial software such as ERP systems (e.g., SAP, QuickBooks).
- Excellent problem-solving skills with a strong focus on detail.
- Strong communication skills, both written and verbal, with the ability to present financial data to non-financial stakeholders.
- Strong negotiation and interpersonal skills to manage vendor relationships and work across departments.
- Proactive and able to work independently while maintaining close collaboration with team members.
- Familiarity with Tanzanian tax laws, cost management practices, and industry-specific regulations.
- Deep understanding of the tourism industry, including cost structures in travel, accommodation, and service delivery.
