Controllers Job DescriptionJob Descriptions October 26, 2013
The controller’s job description is to oversee the company’s finances, to the last detail. This worker usually operates at a bank, government agency, large corporation or even a medium-sized business. They report on all transactions and create the financial policies that govern a company. They’re not assigned to do bookkeeping but oversee the workers who are in charge of this task.
This is, essentially, a financial manager position, and the only superior, in regards to finance, is either the board of directors or the private company’s founder/owner. The company head will trust the controller with everything, making it a high-ranking position, second only to the owner in most cases, as well as the CFO or COO (Chief Financial Officer or Chief Operating Officer) respectively. These higher positions outrank the controller but are not involved as deeply in financial matters.
Job Description for a Controller
The larger the company, the more likely a controller will be employed since smaller companies don’t necessarily have the need for constant financial surveillance. They may even outsource such a job or at least keep it to a part time position.
If you acquire this position, you will be in charge of explaining these finances and supervising over them. You will be expected to set budgets, plan budgets and finances, and oversee the work of those who help you with the calculation.
Workers in this field typically come from an auditing or accounting background, and understand, firsthand, how a company’s finances operate and move on a daily basis. Therefore, one part of your job is to oversee the work of other accountants, making sure that all statements and reports will make sense to the CFO or owner, and that all numbers are accounted for.
This is not only for balance sheets but also for potential earnings and expenses. In addition, you will be in charge of payroll systems and help devise ways to save money on company operating expenses.
Expert Level Advice and Leadership
Oftentimes, you are considered the expert by others and will be expected to provide advice on company actions, like mergers and acquisitions. You are the one that everyone will look to when they talk about state laws, compliance, and ethical concerns.
While some of your job is in planning and budgeting, much of it will be in a leadership capacity. You will assume the role of project manager over finances, investment strategizing, assisting in the Human Resources Department, and learning the most common and accepted accounting principles of the modern age, to make sure your company is covered.
Attention to detail is critical, even though you are managing much of this workload. You must maintain a system of policies and procedures, as well as organize the structure of a program that will help organize a company’s finances. Correspondingly, You may oversee all subsidiaries of a large company, which requires a great deal of concentration.
If you are up for a monumental task, you will earn a high salary, great benefits, and a wonderful feeling of job satisfaction, pride and ambition. You can do it too, with a solid background and a striking resume built upon education.