Head of Budgeting and Cost Control

Head of Budgeting & Cost Control

Freedom24 · Limassol, Cyprus · — · Posted 2026-10-19

Workplace: on_site

Description

Freedom24 is a trusted online broker with expertise in the US, European, and Asian stock markets, registered in Cyprus, and offers a broad range of services in the financial markets.

Freedom Team is a union of highly qualified professionals on the market, bursting with vibrant energy and pioneer ideas. All of us are goal-oriented with a strong belief in teamwork power built on the strength of each of us. We work in a fast-paced environment and within cross-functional teams. We are dedicated to achieving the best possible result, and no one thinks he doesn’t make a change.

If you feel like you’re a good fit for us and we are a good fit for you, go ahead and check this position out.

About the Role

We are looking for a Head of Budget & Cost Control to lead our budgeting and cost control function. Reporting to the CFO, you will manage the company-wide budgeting process, track how budgets are spent and drive cost efficiency across the business. You will lead the budgeting and cost control team and give management accurate, timely financial insight.

1. Budget Planning & Management

• Implement and improve budgeting methods for operational, investment (CAPEX) and financial budgets in line with the company's financial policies.
• Prepare and consolidate the company-wide budget, including forecasts, scenario analysis and investment models.
• Run the full planning cycle: set tasks, define timelines and make sure deadlines are met.
• Develop, update and maintain internal policies and procedures for budgeting and cost control.

2. Budget Control

• Run monthly variance analysis (actual vs. plan), find the root causes and recommend specific actions.
• Monitor budget limits and escalate overspends.
• Support the automation and digitalization of budgeting and cost control processes using ERP and BI tools.

3. Cost Control & Optimization

• Carry out regular cost reviews and efficiency assessments for departments, projects and products.
• Identify and propose initiatives that improve efficiency and reduce operating costs.
• Implement cost-reduction initiatives and track and report the savings achieved.
• Monitor compliance with budget and financial policies and procedures.

4. Financial Analysis & Reporting

• Prepare management reports for senior management.
• Build financial models and assess the profitability of projects and capital investments.
• Provide analysis to support the company's long-term financial strategy.

5. Team Leadership

• Lead and develop the budgeting and cost control team.
• Mentor team members, assign responsibilities and evaluate performance.

Requirements

Must-have

• Degree in Economics, Finance, Accounting or a related field.
• More than 5 years of experience in budgeting, controlling, FP&A or financial management (an audit background is welcome); 2–3 years managing a team.
• Strong hands-on budgeting experience: operating budget, CAPEX/OPEX and cash flow.
• Solid management accounting and variance analysis skills.
• Strong financial modeling skills and advanced Excel.
• Experience with a major ERP system (e.g. SAP, Oracle or 1C), invoice management systems (e.g. SAP Concur, Coupa or Emburse) and a BI tool (Power BI or Tableau).
• Clear communicator, confident presenting to senior management.
• Highly organized, with strong attention to detail.

Nice-to-have

• ACCA, CIMA or CPA (completed or in progress).
• Experience in financial services companies (e.g. investment firms, asset managers, banking, payments or fintech).
• Experience with 1C and SAP Concur specifically.
• Knowledge of ABC/ABM or driver-based budgeting.
• Knowledge of IFRS.
• Experience setting up budgeting processes from scratch.

Benefits

• Work in a modern office in the center of Limassol with an open-minded and professional team;
• Relocation package, including reimbursement for flights and accommodation for 1 month;
• Visa sponsorship for the employee and their family members;
• The company covers 50% of the annual cost of the health plan, which the employee can choose with any insurance company;
• Company-provided life insurance;
• 21 working days of paid vacation;
• 12 additional days off per year, provided by the company;
• Paid sick leave;
• Team-building activities, corporate events, football and volleyball clubs, sports events, and challenges.

Apply

Apply at Freedom24

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