Job Description: F&B Chief Financial Officer (CFO)

Company: Above Sea Level
Position: Chief Financial Officer – Food & Beverage
Department: Finance & Corporate Strategy
Reports To: Board of Directors / Managing Director
Employment Type: Full-Time
Location: Singapore

Position Overview

The F&B CFO will be responsible for the overall financial health, financial strategy, and commercial performance of Above Sea Level.

This is a hands-on senior leadership position designed for an F&B finance professional who understands that restaurant finance is not just about accounting—it is about sales, margins, food cost, labour cost, cash flow, expansion, and profitability.

The CFO will work closely with the Managing Director, F&B Director, Operations, Marketing, Procurement, and outlet teams to ensure that every business decision is financially sound and aligned with Above Sea Level's growth objectives.

The ideal candidate must be able to read the numbers, challenge the numbers, and turn the numbers into action.

Key Responsibilities

1. Financial Strategy & Planning

• Develop and implement the company's overall financial strategy.

• Establish short-term and long-term financial plans aligned with business expansion.

• Provide management with financial insights and recommendations for strategic decisions.

• Develop financial models for new outlets, investments, partnerships, and expansion opportunities.

• Assess the financial viability and ROI of proposed business initiatives.

2. P&L & Profitability Management

• Take ownership of the company's financial performance and profitability.

• Monitor outlet-level P&L performance.

• Analyze revenue, gross profit, EBITDA, operating expenses, and net profit.

• Identify underperforming outlets and recommend corrective strategies.

• Establish financial KPIs and targets for each outlet and business unit.

• Work with the F&B Director to improve outlet profitability.

3. F&B Cost Control

• Develop and monitor food cost, beverage cost, labour cost, and operating expense targets.

• Analyze food-cost variances, wastage, portion control, and inventory discrepancies.

• Review menu costing and pricing to ensure appropriate margins.

• Monitor labour productivity and manpower costs.

• Identify financial leakage and implement stronger controls.

4. Cash Flow & Treasury Management

• Manage the company's cash-flow planning and liquidity.

• Prepare cash-flow forecasts and monitor working capital.

• Ensure sufficient funds are available for operations, suppliers, payroll, and expansion.

• Manage banking relationships and financing requirements.

• Monitor accounts receivable and accounts payable.

• Establish appropriate cash-handling and payment controls.

5. Budgeting & Forecasting

• Lead the annual budgeting process.

• Prepare monthly and quarterly financial forecasts.

• Compare actual results against budget and provide variance analysis.

• Develop financial scenarios for expansion, cost increases, and market changes.

• Recommend actions based on financial performance.

6. Expansion & Investment

• Lead financial due diligence for new outlets and business opportunities.

• Prepare feasibility studies and investment proposals.

• Evaluate rental costs, CAPEX, expected revenue, operating costs, and break-even periods.

• Establish financial models for new locations.

• Monitor post-opening performance against the approved business plan.

• Support management in franchise, partnership, acquisition, and investment decisions.

7. Accounting & Financial Reporting

• Oversee accurate and timely financial reporting.

• Ensure proper accounting systems and financial controls are maintained.

• Work with external accountants, auditors, tax advisors, and other professional service providers.

• Ensure compliance with Singapore accounting and tax requirements.

• Review monthly management accounts and financial statements.

• Establish standardized financial reporting across all outlets.

8. Procurement & Commercial Management

• Work with Procurement to monitor supplier pricing and purchasing efficiency.

• Review major supplier contracts and commercial terms.

• Analyze purchasing trends and identify cost-saving opportunities.

• Support negotiations with landlords, suppliers, banks, and business partners.

• Ensure procurement decisions are aligned with financial targets.

9. Internal Controls & Risk Management

• Establish strong financial controls across outlets and corporate operations.

• Monitor cash handling, POS transactions, refunds, discounts, voids, and complimentary items.

• Identify potential fraud, leakage, or financial irregularities.

• Conduct regular financial and operational reviews.

• Develop policies to protect company assets and cash flow.

10. Management & Business Advisory

The CFO will act as a financial business partner to management, providing clear recommendations rather than simply reporting numbers.

Responsibilities include:

• Advising management on major business decisions.

• Providing financial analysis for promotions and campaigns.

• Evaluating pricing strategies.

• Assessing profitability of menu items and business segments.

• Advising on manpower and operating structures.

• Identifying opportunities to increase revenue and reduce costs.

Key Performance Indicators (KPIs)

The F&B CFO will be evaluated based on:

• Revenue growth

• Gross profit improvement

• EBITDA / net profit growth

• Food and beverage cost control

• Labour cost efficiency

• Cash-flow management

• Working capital efficiency

• Budget accuracy

• Reduction of financial leakage and wastage

• Outlet profitability

• ROI of new outlets and investments

• Cost savings achieved

• Accuracy and timeliness of financial reporting

Qualifications & Experience

• Bachelor's degree in Accounting, Finance, Business, Economics, or related field.

• CPA, CA, ACCA, CFA, or equivalent professional qualification is preferred.

• Minimum 8–12 years of progressive finance experience, with significant experience in senior financial management.

• Strong experience in F&B, hospitality, restaurants, retail, or multi-outlet operations preferred.

• Proven experience managing P&L, budgeting, forecasting, cash flow, and financial controls.

• Strong understanding of food cost, labour cost, inventory, and outlet profitability.

• Experience in Singapore financial and regulatory requirements.

• Strong analytical and commercial skills.

• Excellent negotiation and communication abilities.

• Experience supporting business expansion and investment decisions is highly advantageous.

Ideal Candidate

Above Sea Level is looking for a CFO who is:

Commercial — Analytical — Hands-on — Strategic — Accountable

The ideal candidate understands that:

Revenue is vanity. Profit is sanity. Cash is reality.

You should be comfortable sitting with the management team in the morning reviewing P&L, walking into an outlet in the afternoon to understand why food cost is high, and negotiating a better commercial deal with a supplier before the day is over.

We need someone who can protect today's business while building the financial foundation for tomorrow's expansion.

Working Relationship

The F&B CFO will work closely with:

• Board of Directors

• Managing Director

• F&B Director

• Operations & Outlet Managers

• Procurement

• HR

• Marketing

• External Accountants & Auditors

• Banks, Investors & Business Partners

The Goal

Build a financially disciplined F&B organization that can scale sustainably, profitably, and confidently—without losing the entrepreneurial spirit of Above Sea Level.