Financial Controller Job Description: Top Duties and Requirements

A Financial Controller, or Director of Financial Services, manages the finance and accounting departments of an organization. Their main duties include evaluating the operations of the finance, accounting and audit departments, implementing financial systems for records management, and preparing financial statements and reports for upper management and shareholders.

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Financial Controller duties and responsibilities

A Financial Controller is responsible for many important elements within an organization. Some of the main duties and responsibilities that are expected of a Financial Controller on a daily basis include:

  • Serve as the messenger between the accounting and finance departments, and shareholders
  • Evaluate auditing systems in place and modify whenever necessary
  • Develop models and projections to estimate what finances will look like over the course of a year
  • Hire, manage, and train new staff members
  • Prepare financial statements, analyses, and reports
  • Make recommendations for improving policies and systems in place
  • Ensure optimal profitability for the corporation
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Financial Controller Job Description Examples:

 

Example 1

*Statement OF Requirements * *Title of position: *Controller *Reports to: *President *Direct reports: *Accounts Payable, Accounts Receivable *Indirect reports: *Payroll *Core Hours of Work: *40 hours per week *Salaried or Hourly Position: *salaried *Scope of responsibilities: *
  • Overall responsibility for the financial aspects of the company. *Key duties: *(not limited as outlined)
  • Generate management report books for president and CEO
  • Prepare weekly payroll journals and postings for Receiver General and EHT
  • Prepare government payment reports for employer remittances, employee health tax, GST, etc.
  • Oversee bank statement reconciliation
  • Print and check month end G/L accounts
  • Prepare month end financial statements
  • Check accounts payable/receivable posted invoices
  • Prepare corporate cash flow plans
  • Conduct financial analysis and prepare special reports as directed by President *Educational requirements: *
  • Profession Accounting designation GCA, CMA, CA or MBA with a major in accounting/finance. *Experience requirements: *
  • 5 – 10 years practical work experience
  • proficient in spreadsheeting
  • cost accounting/standard costing *Performance attributes required: *
  • excellent communication skills, verbal and written
  • highly organized
  • effective time management skills
  • effective leadership skills
  • excellent customer relation skills
  • excellent computer skills
  • understanding of plastic injection molding industry
  • ability to work in a environment *Personal attributes required: *
  • high level of personal integrity
  • strong work ethic
  • self starter
  • confident, consistent, decisive personality
  • good team player
  • ability to relate to all levels of employee status *Commitment to Health & Safety: * The Employee shall b e familiar with and implement the applicable legislative, customer, corporate, departmental, and job related Health and Safety requirements, including standards, procedures, work instructions and forms. *Commitment to Quality IATF16949: * The Employee shall be familiar with and implement the applicable customer, corporate, departmental, and job related Quality requirements, including standards, procedures, work instructions and forms. *Environmental: * The Employee shall be familiar with and implement the applicable legislative, customer, corporate, departmental, and job related Environmental requirements, including standards, procedures, work instructions and forms. *Training: * The employee acknowledges the requirement to be fully trained in the job function outlined herein and agrees to undertake any and all training, upgrading and related activities necessitated by the work activity or as directed by management Expected Start Date: 2022-01-31 Job Types: Full-time, Permanent Salary: From $100,000.00 per year Additional pay: * Bonus pay Benefits: * Casual dress * Company pension * Dental care * Disability insurance * Extended health care * Life insurance * On-site parking * RRSP match * Vision care Schedule: * 8 hour shift * Day shift * Monday to Friday COVID-19 considerations: We follow all guidelines and requirements recommended by the local health unit. Education: * Bachelor's Degree (preferred) Experience: * accounting: 5 years (required) * Controllers: 1 year (preferred)
  • Example 2

    Just Perfect Specialty Foods Ltd is a small food production company specializing in sauces and dressings that is looking for a skilled bookkeeper/financial controller to join our team. 9 AM to 1 PM Monday through Thursday: Exact hours negotiable Main duties include: Accounting: AR/AP, Collections/Pricing Notifications, Payroll, Budget and Cashflow Management, Bank Reconciliation. Data entry: Inventory Control, Production Recipe Deduction, Ordering Raw Entering Received Goods, Raw Material Cost Monitoring. General Filing of Accounting and Data Entry Files. Other Admin Duties (eg. answering phones, maintaining employee time logs) Requirements: · 2 – 4 years related experience; or an equivalent combination of education & experience. · Effective verbal & written communication skills. Excellent command of English. · Intermediate user of Excel and Quickbooks Pro or other relative accounting software. Experience with ERP/MRP systems in a manufacturing setting an asset. · Able to multitask, balancing multiple demands & changing priorities. Part-time hours: 16 per week Job Types: Part-time, Permanent Salary: $26.00-$30.00 per hour Benefits: * On-site parking Schedule: * Day shift * Monday to Friday * No weekends COVID-19 considerations: Masks are provided to be worn at all times in the office environment. Dual Vaccination Required. Experience: * QuickBooks: 1 year (required) * bookkeeping: 1 year (preferred) Work remotely: * No

    Example 3

    We are looking for an experienced Financial Controller, or Comptroller, to undertake all aspects of financial management, including corporate accounting, regulatory and financial reporting, budget and forecasts preparation, as well as development of internal control policies and procedures. Finance Controller responsibilities will also include financial risk management. Manufacturing Experience an Asset Responsibilities * Manage all accounting operations including Billing, A/R, A/P, GL and Counsel, Cost Accounting, Inventory Accounting and Revenue Recognition * Coordinate and direct the preparation of the budget and financial forecasts and report variances * Prepare and publish timely monthly financial statements * Coordinate the preparation of regulatory reporting * Research technical accounting issues for compliance * Support month-end and year-end close process * Ensure quality control over financial transactions and financial reporting * Manage and comply with local, state, and federal government reporting requirements and tax filings * Develop and document business processes and accounting policies to maintain and strengthen internal controls * Additional controller duties as necessary Job Types: Full-time, Permanent Salary: per year Benefits: * Dental care * Extended health care * Vision care Schedule: * 8 hour shift Education: * Bachelor's Degree (preferred) Experience: * accounting: 5 years (preferred)

    What does a Financial Controller do?

    A Financial Controller establishes and maintains the procedures for the finance and accounting departments within an organization. They are responsible for planning budgets, executing financial analysis, and developing financial models to help explain their projections for the company’s financial success in the coming months. They also monitor the company’s financial performance and report back to upper management with their findings. The Financial Controller works with the heads of other departments to decide how to optimize the systems and policies in place, and to develop new ones. They ensure the organization is fully compliant with the Canadian Tax Act, as well as other federal and provincial regulations. 

    Financial Controller skills and qualifications

    Some of the top skills and qualifications found in a successful Financial Controller candidate include:

    • Strong organizational and leadership skills
    • Excellent analytical skills
    • Exceptional communication skills
    • In-depth knowledge of accounting and finance
    • Strong eye for detail
    • Excellent knowledge of digital technology
    • Excellent ability to work as a team

    Financial Controller experience requirements

    As it is a management position, a successful candidate will generally have several years of experience in the field of accounting, finance, or business administration. Experience in budgeting or financial planning is considered an asset to this position.

    Financial Controller education and training requirements

    A successful Financial Controller candidate will have a bachelor’s degree in business administration, accounting, finance, or a related discipline. In some organizations, a Financial Controller may be required to hold an accounting designation such as a Chartered Accountant (CA), Certified Management Accountant (CMA), or Certified General Accountant (CGA). A master’s degree with a concentration in finance or an MBA is a desirable certification for candidates.

    Financial Controller salary expectations

    According to Indeed Salaries, the average Financial Controller in Canada earns a salary of $80,002 per year. Salaries can vary based on factors like geographical location, type of industry, size of the organization, and level of experience. 

    Job description samples for similar positions

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    Financial Controller job description FAQs

    What is the difference between a Financial Controller and a Financial Advisor?

    A Financial Controller works within an organization and advises upper management on financial planning, while they also manage the budget and accounting for the company overall. A Financial Planner, however, typically advises individuals on personal wealth management. They also offer financial advice on a personal level, whereas a Financial Controller offers financial advice to a large-scale business.

    What should you look for in a Financial Controller resume?

    Look for a candidate with experience in finance, accounting, budget planning, or a related field. A good candidate will also have some form of management or leadership experience in their past to indicate they are suitable for the role. You should also look for candidates with references from well-known companies in the finance industry, as this may help select the best possible candidate for the job.

    Who does a Financial Controller report to?

    A Financial Controller reports to the senior management team and shareholders of the corporation. They liaise between the accounting and finance departments and the upper management team, reporting their financial analyses, projections, and estimates for the future to these teams.

    What makes a good job description?

    Include exactly what the job entails, especially the types of reports and analyses the employee would be responsible for, a list of the auditing systems and software the company utilizes, and the size of the team they will be working with and managing. A good job description will also mention what type of designation the candidate must have to be considered. A mention of a competitive salary and any other employee benefits or privileges associated with the position can also help draw in more candidates.

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