Financial Controller Jobs & Career Guide

• Financial Reporting – The financial controller is primarily responsible for all company accounts, financial statements, and cost structures. They ensure that all reporting is compliant with generally accepted accounting principles (GAAP) or international financial reporting standards (IFRS).
• Budgeting and Forecasting – They play a crucial role in budget preparation and management. This includes forecasting future revenues and expenditures to establish cost structures and determine capital budgeting for projects.
• Internal Controls and Compliance – Ensuring the integrity of financial information and maintaining or updating internal controls. Controllers oversee regulatory compliance regarding financial functions and participate in audits (both internal and external).
• Cash Flow Management – They monitor the cash flow of the company, oversee the preparation of cash flow reports, and manage the financial planning to ensure the company has enough cash to meet its obligations.
• Financial Strategy – Controllers often assist in formulating the company’s future direction and support tactical initiatives by performing financial analysis and modeling. They help in identifying and managing financial risk, strategizing on fund procurement, investment of funds, and efficient control over financial resources.
• Team Management – Financial controllers typically manage accounting teams, overseeing financial department staff in their daily operations. They ensure that the team is functioning efficiently, accurately, and timely in managing and reporting financial data.

Here is what a day in the life of a financial controller in a large software company might look like:

• 8:00 AM: Arrive at the office. Begin the day by reviewing financial reports and dashboards updated overnight. Check on key metrics like cash flow, revenue trends, and expense reports to catch any issues early.
• 8:30 AM: Meet with the accounting team to discuss the status of ongoing work, including the closing of books, any discrepancies found in ledger entries, and updates on compliance matters. Provide guidance on complex issues they are handling.
• 9:30 AM: Review emails and respond to urgent requests. This might include communications from department heads about budget adjustments or from external stakeholders like banks or auditors.
• 10:00 AM: Attend a finance department heads meeting. Discuss broader financial strategies, upcoming fiscal policies, and align on the financial outlook for the next quarter. Collaborate on preparing for a forthcoming external audit.
• 11:30 AM: Conduct a review of financial controls and processes. Meet with the internal audit team to discuss findings from recent audits and ensure that all recommendations are being implemented to improve financial control systems.
• 12:30 PM: Lunch break.
• 1:30 PM: Work on financial forecasting. Update or review financial models considering new data, and prepare for an upcoming presentation to the board about future investment strategies and risk management.
• 2:30 PM: Meet with the IT department head to discuss the budget and financial implications of new software development projects. Ensure alignment on cost structures and discuss ROI expectations.
• 3:30 PM: Respond to more emails and prepare for end-of-day reports. Handle any administrative tasks related to financial management and team oversight.
• 4:00 PM: One-on-one meeting with the CFO to discuss the financial health of the company, progress on major financial projects, and any concerns about upcoming regulations or market conditions that could impact the company.
• 5:00 PM: Finalize and sign off on reports that need to go out to external stakeholders. Review the day’s work and set up key tasks for the next day.
• 6:00 PM: Wind down operations, check in with the team to ensure all critical tasks are on track, and provide any last-minute feedback or support needed.
• 6:30 PM: Leave the office.