The Officer, Cost Management is accountable for assisting the assistant manager in providing control, direction and support to food & beverage operations to ensure that the decision making and financial process is based on accurate, timely and meaningful information. This position is also responsible for assisting the assistant managers identify opportunities to improve efficiency resulting in improved financial performance for F&B. Activities may include process menu engineering, ad hoc project work, cost analysis, stock-takes, and market price comparison projects.

The Officer, Cost Management is directly responsible for the monitoring and control of food and beverage costs provide direction and support to all restaurants, bars and snack bars/cafes in planning, purchasing and usage. The Officer, Cost Management must provide accurate, timely and meaningful information for decision making, maintain data systems integrity and ensure compliance with budgets.

PRIMARY RESPONSIBILITIES:

• Monitor, control and audit food and beverage costs for all outlets. This includes:
  • menu ingredients and measures, recipes and yield calculations
  • wastage/ spoilage
  • daily monitor of food and beverage costs
  • stocktake variances
  • price fluctuations of products
• Analyse and recommend food and beverage product for menu engineering & new menu cost analysis
• Assist all outlet Chefs and Managers:
  • to control daily food and beverage costs
  • with menu engineering,
  • to determine maximum product mix
  • maintain budget levels for food and beverage costs
  • ensure all menu items have accurate recipes and are entered in the menu engineering system
• Assist assistant managers on obtaining detailed reports/ analysis
• Assist to provide daily food and beverage cost reports
• Liaise with supply chain and inventory control departments
• Work with POS Database Administrator to maintain integrity and accuracy of Micros database
• Update daily cost transfer forms to SWS system
• Works with management to help devise and implement business improvement projects

KEY PERFORMANCE INDICATORS:

Product

• Ensure computer system accuracy of menu item recipe & ingredients on an ongoing basis
• Ensure physical compliance to menu recipes
• Provide daily food and beverage cost reports to outlets and recommendations to assist in meeting budget requirements
• Monitoring of product yield
• Monitoring of wastage
• Analysing food and beverage product mix
• Analysing food and beverage cost of sales
• Overseeing beverage stocktake
• Recommending alternative products when price increases occur

Financial

• Adherence to cost of sales percentages
• Monitoring of food cost by outlet on a daily basis
• Compare reported daily food costs against budget
• Validating beverage cost of sales

Reporting

• Daily reporting of wastage
• Daily reporting of consolidated food and beverage costs
• Monthly reporting stocktakes

Customer Service / Communication

• Ability to communicate to all levels of management
• Service standards are consistent with departmental expectations
• Adherence to all relevant policies and procedures
• Constructive relationships are built with team members and business managers
• Adheres to, and supports the Company's Vision & Values
• Displays a high commitment to improving customer service
• Adopts and implements new approaches and practices to meet changing circumstances
• Clearly understands the strategic Vision of the Company and how it impacts on the Business Unit / function.
• Achieves agreed objectives and accepts accountability for results

QUALIFICATIONS

Experience

• Minimum 2 years post graduate experience in management accounting or analysis preferably in the F&B / hospitality sector
• Experience in the gaming industry or in large hotel environment with multiple F&B outlets preferred

Education

• Tertiary education in Finance / Business discipline

Skills / Competencies

• Professional presentation and communication skills with the ability to build relationships at all levels within the organization
• Very good PC skills, particularly Excel
• Self starter, mature, confident
• High level of motivation and discipline to achieve business objectives and common goals
• Able to work with all levels of staff
• Demonstrated ability to work without supervision