Cost Management Accountant

3 days ago

Singapore HERITAGE SOHO PARTNERS PTE. LTD. Full time

**Position Overview**:
As a Cost Management Accountant & Operations Coordinator for Hotel, your primary responsibility will be to ensure efficient cost control and financial management within the hotel's operations. You will be responsible for monitoring and analyzing financial data related to costs, expenses, and profitability, providing insights and recommendations to optimize operational efficiency and maximize revenue. Your role will involve collaborating with various departments, including finance, operations, procurement, and senior management, to develop and implement cost management strategies.

**Key Responsibilities**:
1. Cost Analysis and Reporting:

- Analyze and monitor various cost elements, such as labor costs, operating expenses, and overheads.
- Prepare regular reports, including cost variance analysis, budget performance reports, and profitability analysis, to provide accurate and timely financial information to management.
- Identify cost-saving opportunities, cost trends, and potential areas for improvement.

2. Budgeting and Forecasting:

- Monitor budget performance throughout the year, analyzing actual costs against the budget and providing explanations for variances.
- Collaborate with department heads to develop accurate cost forecasts for future periods.

3. Cost Control and Optimization:

- Implement effective cost control measures and procedures to ensure adherence to budgetary limits and maximize profitability.
- Identify areas of potential cost reduction, waste elimination, and process improvement.
- Conduct regular audits and reviews to ensure compliance with cost control policies and procedures.
- Call different vendors for quotes and compare the quotations.

4. Inventory Management:

- Oversee the inventory management process, including monitoring stock levels, conducting inventory counts, and reconciling inventory records and procurement of stocks.

5. Cross-Functional Collaboration:

- Collaborate with various departments, such as finance, operations, procurement, and sales, to ensure cost management initiatives align with overall business objectives.
- Collaborate with the landlords' representative to resolve issues relating to buildings.
- Provide financial insights and guidance to department heads and senior management to support decision-making processes.

Qualifications and Skills:

- Bachelor's degree in accounting, finance, or a related field. Professional certifications such as CPA (Certified Public Accountant) or CMA (Certified Management Accountant) are advantageous.
- Proven experience as a cost management accountant or similar role within the hospitality industry, preferably in a hotel or resort setting.
- Strong understanding of cost accounting principles, financial analysis, and budgeting.
- Proficiency in financial management software and systems.
- Excellent analytical skills with attention to detail.
- Strong communication and interpersonal skills to collaborate effectively with cross-functional teams.
- Ability to work independently, prioritize tasks, and meet deadlines.
- Knowledge of hotel operations and familiarity with hospitality industry standards and best practices.

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