Financial controller jobs just might be for you if you’re the one your pals come running to financial advice. Does the budget section in the newspaper make your eyes sparkle? If you screamed a yes, chances are you have a hidden financial guru inside you.
It’s time to turn your altruistic passion into a full-time profession by opting for a career in the finance field. One such role is that of a financial controller. You will work as a liaison between decision-making authorities and the finance department.
The job requires a combination of accounting knowledge and excellent supervision skills. While its lucrative salary and great perks make it an attractive career. We’ve looked into what it takes to be a financial controller and the details are up next.
What Does A Financial Controller Do?
As a financial controller, you will oversee the day-to-day tasks of the finance department. You’ll be working with the finance manager to make important business decisions. That will include formulating reports and account statements.
Some key responsibilities of a financial controller have been provided below.
- Manage annual accounting reports and financial statements.
- Prepare annual budgets and forecasts.
- Coordinate the taxation activities of the business.
- Supervise the finance department staff.
- Communicate with auditors and banks.
- Solve complex accounting issues.
How Much Does A Financial Controller Earn?
A financial controller’s base salary figure was $198,400 in the US in 2020. The salary package can start from $130,000 and go up to $274,000 for experienced professionals.
Likewise, the financial controllers also receive average bonuses worth $30,000 annually. Moreover, working with reputed firms will also grant you benefits like social security, healthcare, and pension.
Qualifications and Skills Required
If you have a love for numbers and blade-like acumen you’re in a good spot already. But you also need to check off the following to qualify to be a financial controller.
- A bachelor’s degree in accounting or finance field. (Alternatively, you can go for courses like ACCA, AAT, and CMA-F2).
- Get accredited as a Chartered Accountant and gain experience working in this profile.
- Post-graduation in financial management or business management is optional.
Skills like analytical thinking, problem-solving, communication skills, and organizational skills are also important. You should be able to meet targets and show good decision-making abilities to grow as a financial controller.
How to Apply for the Role?
You need accounting experience as well as some supervisory experience to become a financial controller. There are two ways in which you can kick-start your career as a financial controller.
- First of all, start as an accountant at a reputed company after your formal education and get promoted to the financial controller role.
- Second, you can work independently as a C.A. for some time. Ultimately, you will get an honorable position at a good company.
Here are some tips for finding relevant opportunities in the field.
- Get in touch with your peers from university and update them about your interest in the profile.
- Have referrals from your mentors or seniors at the company you’re working for.
- Search for top accounting firms in your area and send them an application through their website or over mail.
- Make use of online job portals like Craiglist, Indeed, Career Builder, and LinkedIn.
Growth Opportunities
Did you know that a financial controller profile opens the door for many other opportunities in the finance field? The job has an average growth projection of 8.9% over five years. By working diligently, you can move up to a finance manager or finance director.
Financial Controller Jobs Financial Controller Jobs Conclusion
Working as a financial controller is a lucrative career opportunity in the finance domain. That said, there is fierce competition for such roles in the corporate jungle. You should start preparing for the role right from college.
That will help you maintain a good grasp of key accounting basics. And beginning your preparations from college can help you keep pace with the changing requirements of the job. And that will make you more than qualified when it comes time to apply.