FINANCIAL CONTROLLER SALARY: 2023 Salary Guide

Responsibilities

• Invoice approval: entails ensuring that invoices are correctly approved and coded in the general ledger.
• Monitoring and balancing cash flows into and out of a business in order to meet obligations and optimize investment.
• Coordination with external financial, compliance, and tax auditors.
• Internal controls: The process of developing and monitoring firm policies and internal controls, particularly expenditure controls, in order to protect company assets and reduce fraud.
• Budget: Assisting with or producing the budget entirely, including the incorporation of historical data.
• Debt management entails managing loan arrangements for company borrowings as well as collecting money due to the company by customers.
• Financial strategy: Creating a financial strategy that includes risk management plans and opportunity predictions.
• Compliance: Ensuring that local legislation, tax provisions, and related industrial and financial rules are followed.
• Financial reporting and analysis: Providing financial reporting and analysis to inform decision‑making.
• Identifying efficiencies and potential for cost reductions across the organization.
• Mentoring and managing the accounting and financial employees are examples of leadership.
• Payroll administration includes payroll processing and labor tax compliance.
• External reporting entails preparing tax and financial statements for the corporation, as well as filings with the Securities and Exchange Commission (SEC).
• Banking consists of opening bank accounts and managing banking relationships.
• Stakeholder management is the process of advising firm executives on operational actions based on knowledge of the underlying business.

Qualifications

• Obtain a bachelor’s degree in accounting, finance, or business administration.
• Have 5–10 years of financial experience, typically progressing from staff accountant or cost accountant to accounting manager, assistant controller, and finally controller.
• Complete the prerequisites for a professional license, such as CPA, CMA, CFA, or CFC, and maintain ongoing continuing professional education.