Controllers are employed by large companies and organizations to oversee a variety of activities such as the coordinating, planning and reporting of an organization’s financial activities. Government agencies, large corporations and banks require a controller to set their financial polices and make sure that the set policies are followed. Controllers are typically in charge of a variety of departments such as the accounting department, financing department, auditing department and bookkeeping departments within an enterprise. Controllers also work closely with other employees of an enterprise to ensure that financial policies are understood and followed by all.
Controllers are responsible for the overall planning and management of a company’s financial budget. They must analyze the existing operations of the finance department, find areas that can be improved on and implement those improvements. The controller must creatively design and maintain a financial organizational structure that can effectively accomplish a company’s key objectives and goals. Controllers must determine what are the best short and long term goals for a company to achieve its overall financial goals and ensure those goals are met. The controller may further be responsible for holding the role of head liaison when it comes to a company’s financial issues and development.
Level of Education Required
Typically a master’s level degree in accounting or business administration is required to hold the position of Controller. One must have vast knowledge of general accounting principles, budgeting and cost control principles. Experience in budgeting, financial forecasting and profitability in addition to knowledge related to automated financial reporting systems are required. Other personal qualities that are necessary to be a successful controller are the ability to communicate well with others both verbally and in written form. One must be able to multi-task and manage a variety of projects simultaneously. Most employers look for five to ten years of experience working in a finance or accounting department. Further procurement of certifications from institutions such as the Institute of Management Accountants in certified public accounting and certified management accounting can also greatly increase the probability of securing a position as a controller.
Most controllers start out as auditors or accountants and move up within their company to higher-ranking positions within the accounting or finance departments. The average salary of a controller is approximately $65,000. Since many years of experience are required to become a financial controller in a company the only way to guarantee career advancement is through persistence and willingness to put in quality time while gradually moving up the corporate financial management ladder.
When discussing the Controller Resume, a company’s financial success requires that it establish a method of accounting and financial policies that are followed and supervised with honesty and efficiency. The controller is responsible for making sure that such mentioned policies and plans are established, implemented and followed effectively. The position of controller has a substantial amount of stress associated with it as the responsibilities of and operations overseen by financial controllers can be crucial to a company’s success or failure. The controller can find personal satisfaction in the position by implementing financial plans that successfully function to benefit their company.