Financial Controller Job Description | Hays (2024)

FAQs

Financial Controller Job Description | Hays? ›

A Financial Controller is responsible for financial planning and analysis, forecasting, budgeting, and internal control. A Financial Controller may also be responsible for financial reporting to management and the board of directors, as well as compliance with government regulations.

Finance Controllers are the keepers of an organization's accounting and regulatory compliance. They're responsible for managing information technologies, insurance, sales tax reporting, and federal income taxes, along with outside audits from CPA firms.

CFOs usually hold more responsibility than controllers. A controller maintains completely accurate records of a business's financial transactions. A CFO uses that information and information from other departments across the company to make decisions that affect the business.

A bachelor's degree in accounting typically meets the minimum requirements for controller positions. However, hiring managers often prefer applicants with master's degrees in accounting or MBAs in accounting or finance.

A financial controller essentially is a company's lead accountant. They oversee accounting activities and ensure that ledgers accurately reflect money coming in and out of the company. Strategic controllers also impact decision making, forecasting, and budgeting at the company level, based on accounting data.

A Controller is not required to have a CPA license, although some companies might require it.

The controller reports to the CFO, sometimes alongside the treasurer and tax manager. Below the controller can be roles such as the accounting manager, financial planning manager, accounts receivable manager, and accounts payable manager.

Financial management careers offer solid job security, strong salary potential and plenty of room for advancement. In the accounting field, senior finance professionals known as controllers lead accounting departments and help shape financial strategy at organizations of all sizes.

An accounting manager will typically report to a controller or CFO, and they are not responsible for higher-level tasks such as strategic or capital planning. So, if you are looking to understand “what does an accounting controller do?,” they would likely manage the accountants for the company.

Financial Controllers' duties include supervising the finance team, managing budgets and cash flows, implementing accounting processes, preparing payroll documents and financial analysis, among others.

What are the duties of a controller? ›

What does a controller do? As the leader of the accounting team, a financial controller is in charge of closely monitoring a company's financial health. They typically maintain, manage, and analyze financial statements, payroll, budgets, tax compliance issues, and more.

An accountant, or practitioner of accounting, keeps and analyzes financial records. A controller, or comptroller, oversees the accounting operations of a firm, including managing staff. Because controllers' duties and responsibilities expand beyond that of an accountant, they typically command larger salaries.