Finance Controller

Role Overview

The Finance Controller is responsible for managing and controlling the food and beverage costs within the cafés, commissary and back end. This role involves overseeing inventory management, cost analysis, budgeting, and implementing cost-saving initiatives to optimize profitability while maintaining high quality standards in food and beverage operations.

Key Responsibilities:

Inventory Management:

● Oversee the procurement, storage, and issuance of food and beverage inventory to ensure adequate stock levels while minimizing waste and spoilage.

● Conduct regular inventory audits and reconcile discrepancies.

● Maintain accurate records of inventory levels, purchases, and usage.

● Ensure defined recipes are being followed in production and deviations, if any are rectified

Cost Analysis & Cost saving initiatives:

● Analyze food and beverage costs on a regular basis, including ingredient costs, portion sizes, menu prices, and sales trends.

● Identify variances and opportunities for cost optimization.

● Provide insights and recommendations to the management team for improving profitability.

● Ensure consumption is in line with revenue.

Menu Engineering:

● Collaborate with the culinary team and category teams to develop menus that balance profitability with guest satisfaction.

● Identify opportunities for cost-saving initiatives, such as portion control measures, inventory optimization, waste reduction strategies, and energy-saving practices.

● Consider ingredient costs, pricing strategies, and menu engineering principles.

● Analyze the profitability of menu items and suggest modifications as needed.

Vendor Management:

● Identification of new vendors when expanding to a new city.

● Negotiate favorable terms with suppliers and vendors to secure competitive pricing, quality products, and timely deliveries.

● Maintain strong vendor relationships and evaluate vendor performance.

● Work on alternate vendors for critical materials and keep a repository ready for all locations.

● Ensure compliance with quality standards and food safety regulations.

Internal Controls:

● Establish and enforce internal controls and procedures for food and beverage procurement, storage, and disbursement.

● Prevent theft, shrinkage, and unauthorized use of inventory.

● Conduct regular audits to ensure compliance with policies and procedures.

Reporting and Analysis:

● Prepare regular reports and analysis on food and beverage costs, inventory levels, sales performance, and profitability metrics.

● Present findings to management for decision-making.

● Develop and maintain dashboards and key performance indicators (KPIs) for monitoring performance.

Training and Education:

● Conduct training sessions for food and beverage staff on cost control best practices, inventory management techniques, and compliance with standard operating procedures.

● Foster a culture of cost consciousness and continuous improvement.