- The Cost Controller Specialist at Daily dose is responsible for monitoring, analyzing, and controlling costs within the organization to ensure financial efficiency.
- This role focuses on tracking expenses, optimizing budgets, and identifying cost-saving opportunities.
- The Cost Controller Specialist will collaborate closely with various departments to implement cost control measures and support the company’s financial goals.
:Key Responsibilities
:Cost Monitoring & Analysis
- Monitor daily, weekly, and monthly costs, ensuring alignment with budgeted targets.
- Analyze cost structures and report variances to management, providing insights and recommendations for corrective actions.
- Review cost allocation methods and ensure accurate distribution of expenses across different business units or projects.
:Budget Management
- Assist in the preparation and management of budgets, working closely with department heads to ensure budget adherence.
- Track actual expenditures against budgets and forecast future costs, identifying potential areas of overspending or savings.
- Support the annual budgeting process by providing historical cost data and financial analysis.
:Financial Reporting
- Prepare detailed financial reports and presentations on cost performance for senior management.
- Provide regular updates on key financial metrics, such as cost per unit, cost of goods sold (COGS), and gross margin.
- Maintain accurate and up-to-date records of all cost-related transactions.
:Cost Reduction Initiatives
- Identify and recommend cost-saving opportunities across the organization, including process improvements, waste reduction, and supplier negotiations.
- Collaborate with procurement and operations teams to optimize purchasing and inventory management, ensuring cost efficiency.
- Participate in cross-functional teams to implement and monitor cost reduction initiatives.
:Inventory & Resource Management
- Oversee inventory levels and ensure efficient use of resources, minimizing waste and reducing excess stock.
- Conduct regular audits of inventory and resource usage to ensure accuracy and compliance with company policies.
- Work with the supply chain team to ensure optimal inventory levels and timely replenishment.
:Compliance & Best Practices
- Ensure compliance with internal policies and external regulations related to cost control and financial management.
- Stay updated on industry best practices in cost control and implement relevant strategies within the organization.
- Develop and maintain documentation of cost control procedures and policies.
:Collaboration & Support
- Provide financial support and guidance to department heads and project managers on cost-related matters.
- Assist in the training and development of staff on cost control processes and financial management practices.
- Work closely with the finance team to ensure accurate financial reporting and alignment with overall business objectives.
:Variance Analysis
- Conduct variance analysis to identify discrepancies between actual costs and budgeted amounts, investigating the causes of these variances.
- Recommend and implement corrective actions to address variances and improve cost management.
:Qualifications
- Bachelor’s degree in Finance, Accounting, Business Administration, or a related field.
- 3+ years of experience in cost control, financial analysis, or a related field.
- Strong analytical skills, with the ability to interpret financial data and make data-driven decisions.
- Proficiency in financial software, accounting systems, and Microsoft Excel.
- Excellent attention to detail and organizational skills.
- Strong communication and interpersonal skills, with the ability to collaborate effectively across departments.
- Knowledge of cost control principles and practices, with experience in budget management and financial reporting.