Cost Controller, Fairmont The Red Sea

Fairmont Hotels & Resorts; Umluj; On-site; SAR 201,000 - 312,000; Full time

Job summary

Fairmont The Red Sea seeks a detail-oriented Cost Controller to join our finance team in Umluj, Saudi Arabia. You will manage and control departmental costs, ensuring accurate financial reporting and identifying opportunities for cost optimization.

You will work with department managers and senior finance leadership to maintain financial integrity and support strategic decision-making through comprehensive cost analysis and reporting.

Qualifications

• 3-5 years of professional experience in cost accounting, financial control, or a related finance role.
• Proven experience managing departmental costs and budgets in hospitality or similar service industry.
• Strong proficiency in financial analysis and cost accounting principles.
• Advanced skills in Microsoft Excel and experience with accounting software or ERP systems.
• Excellent attention to detail and ability to work with complex financial data.
• Strong analytical and problem-solving skills with ability to interpret financial information.
• Demonstrated ability to prepare accurate financial reports and documentation.
• Excellent organizational and time management skills.
• Strong communication skills with the ability to present financial information to non-financial stakeholders.
• Proficiency in variance analysis and forecasting methodologies.
• Experience with process improvement and cost optimization initiatives.
• Ability to work independently and collaboratively within a team environment.
• Knowledge of hospitality industry financial operations (preferred).
• Experience with SAP or similar enterprise resource planning systems (preferred).

Responsibilities

• Monitor and analyze departmental costs and expenditures to identify variances and trends.
• Prepare and maintain detailed cost budgets and forecasts for assigned departments.
• Conduct variance analysis and provide explanations for budget deviations to management.
• Reconcile cost accounts and ensure accuracy of financial records and reports.
• Develop and implement cost control procedures and best practices across departments.
• Generate regular cost reports and financial statements for internal stakeholders.
• Collaborate with department heads to develop cost reduction initiatives and efficiency improvements.
• Maintain compliance with company financial policies and accounting standards.
• Analyze operational data to support pricing strategies and profitability assessments.
• Assist in the preparation of annual budgets and financial projections.
• Investigate cost anomalies and recommend corrective actions.
• Utilize accounting software and ERP systems to track and report on costs.

Skills

Cost accounting

Financial analysis

Variance analysis

Forecasting

Excel

ERP systems

Attention to detail

Communication

Problem-solving

Tools

SAP

Job description

Company Description

Raffles & 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.

Company Description

Raffles & 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 Description

Fairmont 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 trends
• Prepare and maintain detailed cost budgets and forecasts for assigned departments
• Conduct variance analysis and provide explanations for budget deviations to management
• Reconcile cost accounts and ensure accuracy of financial records and reports
• Develop and implement cost control procedures and best practices across departments
• Generate regular cost reports and financial statements for internal stakeholders
• Collaborate with department heads to develop cost reduction initiatives and efficiency improvements
• Maintain compliance with company financial policies and accounting standards
• Analyze operational data to support pricing strategies and profitability assessments
• Assist in the preparation of annual budgets and financial projections
• Investigate cost anomalies and recommend corrective actions
• Utilize accounting software and ERP systems to track and report on costs

Qualifications

• 3-5 years of professional experience in cost accounting, financial control, or a related finance role
• Proven experience managing departmental costs and budgets in a hospitality or similar service industry environment
• Strong proficiency in financial analysis and cost accounting principles
• Advanced skills in Microsoft Excel and experience with accounting software or ERP systems
• Excellent attention to detail and ability to work with complex financial data
• Strong analytical and problem-solving skills with the ability to interpret financial information
• Demonstrated ability to prepare accurate financial reports and documentation
• Excellent organizational and time management skills
• Strong communication skills with the ability to present financial information to non-financial stakeholders
• Proficiency in variance analysis and forecasting methodologies
• Experience with process improvement and cost optimization initiatives
• Ability to work independently and collaboratively within a team environment
• Knowledge of hospitality industry financial operations (preferred)
• Experience with SAP or similar enterprise resource planning systems (preferred)

Additional Information

• Understanding 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.