Cost Controller, Fairmont The Red Sea

Company Overview

Raffles and Fairmont The Red Sea sit within the Kingdom’s ambitious Red Sea Project and are designed as two nature-led resort experiences. The development features 361 rooms, 11 different dining experiences, an overwater restaurant overlooking the Red Sea and mangroves, and a spa.

Raffles The Red Sea is envisioned as a refined luxury retreat in Saudi Arabia’s remarkable Red Sea destination. It combines Raffles’ signature warm hospitality and highly personalized service with the area’s natural setting and sustainability-focused approach to create an exceptional stay for discerning guests.

Role Summary

Fairmont The Red Sea is hiring a meticulous and analytical Cost Controller to support the finance function in Umluj, Saudi Arabia. The position is responsible for monitoring and managing costs across departments, maintaining reliable financial records, spotting opportunities to reduce expenses, and producing insightful analysis to guide leadership decisions. The role works closely with department leaders and senior finance management to safeguard financial accuracy and support planning.

Key Responsibilities

• Track departmental spending and review cost patterns to highlight variances and emerging trends.
• Build and update cost budgets and forecasts for the assigned business areas.
• Carry out variance analysis and explain deviations from budget to management.
• Reconcile cost-related accounts and ensure financial records and reports remain accurate.
• Create and roll out cost-control processes and improved operating practices across departments.
• Prepare recurring cost reports and financial statements for internal use.
• Partner with department heads on expense-reduction plans and productivity improvements.
• Ensure adherence to company financial policies and accounting requirements.
• Review operational data to support pricing decisions and profitability analysis.
• Support the annual budgeting process and financial forecasting work.
• Examine unusual cost movements and propose corrective measures.
• Use accounting and ERP tools to monitor, analyze, and report costs.

Qualifications

• At least 3 to 5 years of experience in cost accounting, financial control, or a closely related finance position.
• Background in managing departmental budgets and expenses within hospitality or a similar service-based environment.
• Strong grasp of financial analysis and cost accounting fundamentals.
• Advanced Excel capability, along with experience using accounting systems or ERP platforms.
• High attention to detail and comfort working with complex financial information.
• Strong analytical and troubleshooting skills with the ability to interpret financial data.
• Ability to prepare precise financial documentation and reports.
• Well-developed organizational and time management abilities.
• Clear communication skills, including the ability to explain financial matters to non-finance colleagues.
• Solid understanding of variance analysis and forecasting techniques.
• Experience supporting process improvements and cost-optimization efforts.
• Capacity to work both independently and as part of a team.
• Knowledge of hospitality finance operations is preferred.
• Experience with SAP or comparable ERP systems is preferred.

Additional Information

• Knowledge of ultra-luxury guest expectations and alignment with brand standards is important.
• Experience in project coordination, scheduling, and document control during pre-opening phases is required.
• Pre-opening experience is mandatory.
• The role calls for a proactive, anticipatory mindset with strong ownership and accountability.
• Personal grooming and presentation must meet luxury brand standards.