The Controller takes responsibility over direct oversight of the accounting team. The Controller’s responsibilities are inclusive of the creation and implementation procedures and policies, identifying and resolving any occurring accounting issues and developing processes that make the end-of-period reporting processes more accurate and efficient.
He has the opportunity to be involved in numerous areas of the business and directly oversees accounting responsibilities for all of the business’s departments.
Objectives and Responsibilities of the Controller
Management: The Controller plays a managerial role in which he leads the finance department in determining an operational plan and developing quarterly forecasts. In this position, the Controller prepares and presents weekly/monthly/quarterly financial results against the business’s financial forecast in order to ensure that financial departments across the business are aligned on key risks and opportunities of current strategic approaches as the business seeks to achieve periodical financial success.
The Controller works with senior financial management and senior control management in an effort to deliver quarterly forecasts and maintenance of internal finance controls.
The Controller also oversees financial activities and enforces proper authorization and accurate transaction recording. He also looks for ways to streamline and safeguard all assets, for example, cash, fixed assets, investments, and so forth. The Controller additionally manages the working capital of the business and drives improvements in the areas of credit, trade spend oversight, collections, consumer terms, policies, and so forth. The Controller is also responsible for ensuring that periodical inventories are completed.
People Leadership: He is charged with providing ongoing coaching and development of staff within the finance department. In this capacity, the Controller creates an inspiring vision for the finance team and drives speed and accuracy in order to guarantee that there is an environment of high productivity across the business and that there is forward-looking decision-making support for senior finance management.
Financial Reporting: The Controller plays an active role in finance reporting where he oversees end-of-period close process and performs reviews in order to guarantee that there is accuracy and compliance with the generally accepted accounting principles. The Controller in this position is further charged with publishing timely financial statements inclusive of bank reports and analyzing variances from the business financial plans and forecasts.
Financial Management: The Controller also acts a finance expert, having vast experience in all aspects of the business’s financial operations, for example, auditing, accounting, and tax. The Controller develops accounting procedures as well as budgets for any of the business’s new projects and oversees regular progress reports.
The Controller will also oversee the business’s cash management functions and completes all bank reconciliations. He is further charged with ensuring that all subcontractors or vendors to the business meet the requirements of contract agreements prior to any payments.
Collaboration: The role of the Controller is a highly collaborative role. The Controller works closely with the entire accounting team in an effort to close and complete process. In this collaboration, he coordinates the preparation of periodical tax returns and liaises with external auditors to prepare schedules and internal books in a timely fashion.
The Controller further liaises with senior finance management in creating an environment of productivity and overseeing the effective execution of finance/accounting duties.
Other Duties: The Controller also performs similar duties and duties as delegated by the Senior Controller, Head of Controlling, the Chief Finance Officer, or the Employer.
Required Qualifications of the Controller
Education: The Controller must have a bachelor’s degree in Finance or Accounting. The equivalent of the same in practical experience is also acceptable. CPA certification is also desirable for the position.
Experience: A candidate for this position must have had at least 3 years of working experience in an accounting or tax accounting position within a fast paced and dynamic business environment. He must be highly proficient in generally accepted accounting principles as well as financial accounting standards within the business’s jurisdiction.
The candidate must be a highly experienced strategist who has an ability to balance complex needs of a growing business by establishing a balance between growth and profitability. A suitable candidate will also have had experience working with senior finance management such as the Chief Financial Officer or other executives and heads.
The candidate will also demonstrate successful experience supporting new business lines and have an ability to leverage knowledge to inform creative solution formulation within the finance department. A suitable candidate will also demonstrate vast knowledge in diverse transactions such as mergers and acquisitions among other common transactions.
Communication Skills: The Controller must also have exceptionally good communication skills, both in written and verbal form. The controller will need these skills in his highly collaborative capacity where the clarity with which he conveys information to collaborating personnel across the finance department and externally to partners such as auditors will greatly determine the financial performance of the business. He must be highly capable of communicating complex messages to different audiences in a relatable and easily understandable manner.
Ms Word/Software: The Controller must be technologically adept and possess exceptionally good computer skills. He must similarly display exceptionally good Ms Excel, Ms Office, Ms Outlook, and PowerPoint skills, which will be necessary for creating of engaging and easy-to-understand financial documentation in conjunction with other financial teams. He will further be highly familiar with the use of financial software such as NetSuite, SQL, lSSI among others.
Interpersonal Skills: Certain personal attributes will make the candidate even more suited for the position. He must have high attention to detail, be passionate about process improvement, be a self-starter, be proactive going beyond the call of duty, be team player and works comfortably in a highly collaborative setting, work comfortably with senior business management, and demonstrate an ability to remain calm in times of uncertainty inspiring the same in his peers.
People Skills: The Controller must also possess exceptionally good people skills. He must be a good relationship builder who has a passion for team-building. He must also be extremely likable, relatable and approachable, which will inspire trust and confidence in others who will then trust and believe in his directives, judgments, and insights.