Cost Controller, Fairmont The Red Sea

Company DescriptionRaffles & Fairmont the Red Sea, positioned in the kingdom's groundbreaking Red Sea Project, will provide visitors access to two nature-focused resorts. With 361 rooms, 11 distinct dining concepts, including overwater restaurant with views of the Red Sea and the mangroves, and a Spa.Raffles The Red Sea will be a sanctuary of refined elegance and timeless luxury, nestled within Saudi Arabia’s extraordinary Red Sea destination. Blending Raffles’ legendary graciousness and personalized service with the natural beauty and sustainability ethos of Red Sea Global, the property offers a curated haven for the world’s most discerning travelers.Job DescriptionFairmont The Red Sea is seeking a detail-oriented and analytical Cost Controller to join our finance team in Umluj, Saudi Arabia. In this role, you will be responsible for managing and controlling costs across various departments, ensuring accurate financial reporting, and identifying opportunities for cost optimization. You will work closely with departmental managers and senior finance leadership to maintain financial integrity and support strategic decision-making through comprehensive cost analysis and reporting.Monitor and analyze departmental costs and expenditures to identify variances and trendsPrepare and maintain detailed cost budgets and forecasts for assigned departmentsConduct variance analysis and provide explanations for budget deviations to managementReconcile cost accounts and ensure accuracy of financial records and reportsDevelop and implement cost control procedures and best practices across departmentsGenerate regular cost reports and financial statements for internal stakeholdersCollaborate with department heads to develop cost reduction initiatives and efficiency improvementsMaintain compliance with company financial policies and accounting standardsAnalyze operational data to support pricing strategies and profitability assessmentsAssist in the preparation of annual budgets and financial projectionsInvestigate cost anomalies and recommend corrective actionsUtilize accounting software and ERP systems to track and report on costsQualifications3-5 years of professional experience in cost accounting, financial control, or a related finance roleProven experience managing departmental costs and budgets in a hospitality or similar service industry environmentStrong proficiency in financial analysis and cost accounting principlesAdvanced skills in Microsoft Excel and experience with accounting software or ERP systemsExcellent attention to detail and ability to work with complex financial dataStrong analytical and problem-solving skills with the ability to interpret financial informationDemonstrated ability to prepare accurate financial reports and documentationExcellent organizational and time management skillsStrong communication skills with the ability to present financial information to non-financial stakeholdersProficiency in variance analysis and forecasting methodologiesExperience with process improvement and cost optimization initiativesAbility to work independently and collaboratively within a team environmentKnowledge of hospitality industry financial operations (preferred)Experience with SAP or similar enterprise resource planning systems (preferred)Additional InformationUnderstanding of Ultra-Luxury guest expectations and brand alignment.experience in project coordination, scheduling, and document control during pre-Opening stages.Experience in pre-Opening is a must.A proactive, anticipatory approach with a strong sense of ownership and accountability.Impeccable grooming and personal presentation aligned with Luxury standards.