Controller

What is a Controller?

Duties

A controller has important job responsibilities that involve the following points:

• Supporting the updating and implementation of major company objectives as linked to financial planning, accounting, payroll and budget as per federal and state law.
• Functioning as the primary point of contact for the company’s external audit firm, to promote seamless annual financial and retirement audits.
• Undertaking the close supervision and evaluation of staff in the finance department, which involves coordination with external vendors for service delivery and ensuring quality standards.
• Addressing any data requests from departments such as HR, IT or Sales, or financial management pertaining to the region or field.
• Taking care of financial reporting on a daily, monthly and weekly basis as agreed upon, and measuring overall performance.

Day In The Life

As a controller, your main job day-to-day is to ensure that your finance team is working effectively, and report their overall performance levels to your superior officer, in this case the finance director. In addition, your role extends to creating efficient internal control structures that will lessen the possibility of any miscalculations, and ensure that regulations and protocols are complied with. Depending on the size of your organization, you may also lead the annual budget process and update forecasts as required. Most organizations prefer to have a controller simply as a multi-tasker that monitors and maintains multiple financial elements at the company, like making the company taxes, optimizing profits from the annual budget, etc.

You will get the opportunity to work across departments and this will require flawless and articulate communication skills. You may have the chance to take the lead on staff development in the finance department, and ensure the smooth running of areas such as accounts and payroll. To stay on top of the game, controllers have to keep themselves updated regarding recent regulatory changes that may negatively or positively impact the organization.

Work Schedule And Typical Hours

Most of the controller’s work tends to be full-time and office-based where he often supervises a team of accountants, and report to the CFO or the CEO depending on the corporation size. Therefore, the working schedule mostly follow standard business hours of about 40 hours per week. However, this working schedule needs to be flexible enough to consider peak times and unexpected emergencies which happens as the end of the financial year and the annual taxing seasons where longer hours may be added to meet various deadlines. During these periods, controllers work overtime and on vacations.

Projected Job Growth

The employment of controllers is related to the accounting profession and is expected to increase by at least 4 % from 2019 to 2029 according to the US Bureau of Labor Statistics. This is similar to the expected growth rate for other jobs. Despite recent Technological advances like the introduction of cloud computing which lead to the automation of many accounting tasks, the controller’s job remains highly crucial with a specific focus dedicated to advisory and analytical skills as well as leadership and management skills. However, the market is getting more challenging and you may need to get further education and certification as the CPA (Certified Public Accountant) or MBA (Master of Business Administration). This will help you gain more competitiveness in the job market and find your dream job in this field.

Typical Employers

Controllers can virtually in all companies that hire in-house accounting teams which includes all large companies and organizations from various fields. Employers could be in the private and public accounting firms. However, most controllers work in accounting companies that provide outsourcing services to other businesses as Deloitte, PricewaterhouseCoopers, Ernst & Young, and KPMG. These companies provide intensive and diverse experience that is critically needed by fresh graduates recently joining this field. You will handle in these companies’ clients from different fields. Additionally, these accounting companies usually offer higher compensation compared to other companies or organizations. Controllers, as a management level job, cannot work remotely or as freelancers. They always need to work with teams that are found in large companies.