Financial Controller: A financial controller is a senior-level executive who acts as the head of accounting and oversees the preparation of financial reports, such as balance sheets and income statements. A financial controller, who may also be referred to as a financial comptroller, usually reports to an organization’s chief financial officer (CFO). In smaller organizations that do not have CFO, the controller might be the top financial officer.
In addition to preparing reports, the controller’s responsibilities may also include compliance audits, monitoring internal controls, participating in the budgeting process and analyzing financial data to varying degrees. At some companies, financial controllers are involved in evaluating and selecting technology for use within the finance department or other related departments within the organization.
The position of financial controller, or comptroller, involves managing financial departments of a company. These departments can include the accounting department, budget department, audit department, and any other finance-related departments. Financial controllers have many responsibilities, such as producing critical financial reports, profit and loss statements, balance sheets, and financial prospectuses. They must also prepare reports that predict the financial performance of a company over time.
Any paperwork that needs to be done for federal and state regulatory agencies is completed and submitted by the financial controller. A financial controller should have a good grasp of financial reporting, as well as high-level mathematical and problem-solving skills. Because they need to submit and often explain complex financial concepts to executives and people without a financial background, superior communication skills are necessary.
Typically financial controllers have a bachelor’s degree in accounting, finance, or business, although it is not uncommon to find someone with a liberal arts background in this role. They also should obtain a license as a certified public accountant, certified financial manager, or certified management accountant.
Most companies hiring for this position will look for a master’s degree in business administration or financial accounting, as well as seven to 10 years of progressive accounting experience and previous supervisory experience. Pay by Experience for a Financial Controller has a positive trend. An entry-level Financial Controller with less than 5 years of experience can expect to earn average total compensation of Rs 728,000 based on 78 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay.
A Financial Controller with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn average total compensation of Rs 1,758,000 based on 127 salaries. An experienced Financial Controller which includes employees with 10 to 20 years of experience can expect to earn average total compensation of Rs 2,560,000 based on 197 salaries.
A Financial Controller with late-career experience which includes employees with greater than 20 years of experience can expect to earn average total compensation of Rs 3,000,000 based on 39 salaries. This role is not the same as shared services finance controlling, the whole open planning, actual tracking, financial reporting, maintain controls, Financial Modeling. (MBA)
Deal analysis, assumptions to charge back technology expenditure to other LOB’s. Being a spec for APAC it finances role has got a high-end significance to partner with APAC CIO and CAO on the vendor negotiations projects and monthly financials walkthrough. Career path next level is Business Unit line Controller.