Controller
Contents
Unlocking the Role of a Controller in Business: Responsibilities and Requirements
Demystifying the Controller Role
A controller is a key figure within a company responsible for overseeing all accounting-related activities, from high-level accounting to finance operations. This individual often reports to the chief financial officer (CFO) and plays a crucial role in budget preparation, financial reporting, and payroll management.
Diving into Controller Responsibilities
Controllers wear many hats, from managing budgets to analyzing financial data and reporting variances to management. They play a pivotal role in ensuring the financial health of an organization by monitoring trends, investigating budget deficiencies, and recommending corrective actions when necessary.
Exploring Career Opportunities
With a projected growth rate of 15% from 2019 to 2029, according to the Bureau of Labor Statistics (BLS), the demand for financial managers, including controllers, is expected to outpace the average for other occupations. This indicates ample career opportunities for individuals with the requisite skills and experience in accounting and finance.
Qualifications and Requirements
Employers typically seek candidates with a minimum of 10 years of accounting or finance experience, along with a bachelor's degree in accounting, finance, or business administration. While not always mandatory, professional certifications such as Certified Public Accountant (CPA) are highly preferred, demonstrating expertise in the field.
Navigating Special Considerations
Controllers collaborate with external auditors to ensure compliance with reporting standards and establish internal controls over financial reporting. They also stay abreast of tax regulations and operational requirements, playing a critical role in tax preparation and financial filings for both state and federal entities.