What is a controller, and what does a controller do?Simply put, a controller is the person who manages an organization’s finance and accounting departments. A controller oversees an organization’s daily accounting operations, including the accounting, payroll, accounts payable and accounts receivable departments.Controller duties also include helping to guide a company’s strategic financial decisions, and is therefore integral to the financial health of the firm. If you’re aiming for this role, you’ll want to research controller salaries, skills and responsibilities so you’ll be familiar with what a controller does and well-prepared to compete for this senior management position.
First, to better understand what controllers do and the expectations they must typically meet, take time to review some current controller job openings. You’ll likely find that the responsibilities for controller roles often include the following:
Preparing financial forecasting reports and financial statements (internal and external)Maintaining accounting records, including general ledger, payroll and taxesReconciling accountsCoordinating auditsManaging budgetsRecommending financial performance benchmarksCommunicating regularly with (and often reporting to) the CFOOverseeing accounts payable and receivable departmentsEnsuring income tax complianceStaff management is often an aspect of the controller’s job duties, too. And, in some companies, a controller may be the only accountant in the organization.
Candidates for controller jobs should have a minimum of a bachelor’s degree in accounting or business, but preferably an MBA. They should usually have at least seven years of experience in the accounting field, and some public accounting experience is often required.Many controllers have several professional certifications, such as the CPA, chartered global management accountant (CGMA), chartered financial analyst (CFA) or certified management accountant (CMA).Other qualifications that employers look for in a controller include:Working knowledge of generally accepted accounting principles (GAAP)For public companies: Knowledge of U.S. Securities and Exchange Commission (SEC) regulations and the Sarbanes-Oxley Act (SOX)A strong work ethicAdvanced knowledge of accounting software and financial analysisAttention to detailThe ability to multitaskProblem-solving skillsManagerial abilitiesInterpersonal skills, including collaboration and communicationIntegrity
The specifics of what a controller does and the skills needed in a particular role can vary across different companies. But fundamentally speaking, controllers should possess a solid understanding of an organization’s accounting operations and job functions. Controllers are considered the advanced technicians of the accounting world, so they should also have the skills to evaluate the effectiveness of accounting software, systems and processes.
The Robert Half Salary Guide lists the role of controller as one of the hottest jobs in finance and accounting. What might you expect to earn as a controller, provided that you have the skills and experience required for the specific job and employer you’re targeting?
You can find the salary midpoint (or median national salary) for a controller in financial services and in corporate accounting in the latest Salary Guide. You can also find out what controller salaries are typical in your area by using the Robert Half Salary Calculator.Keep in mind that many employers will also offer bonuses and other incentives to accounting and finance executives like controllers. Depending on the organization you apply to, the specific controller duties at that particular workplace, and trends in your local job market, you may earn compensation that is higher than the median national salary for the controller position.
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