What Is a Controller?

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What Is a Controller?

Let me explain what a financial controller does: I'm the high-level manager handling your company's day-to-day accounting and financial systems. As a controller, I'm in charge of all accounting activities, from overseeing the operating budget to managing financial reporting and payroll. My duties include helping prepare the budget, supervising financial reports, and running the payroll system. I focus on collecting, analyzing, and consolidating financial data—while I don't directly manage the budget, I monitor variances, summarize spending trends, and investigate any deficiencies.

Key Takeaways

You should know that controllers like me are more hands-on with daily financial accounting and reporting than a CFO or VP of Finance. I take full ownership of the financial reporting and accounting processes, essentially acting as the guardian of the company's financial health. According to Glassdoor, we earn an average salary of $112,770 per year in 2025.

Understanding Financial Controllers

Controller functions differ based on your company's size, complexity, and industry. In smaller firms, I need to be versatile, but in larger ones, responsibilities might split among me, the CFO, and treasurer. I'm usually tasked with ensuring accurate reporting of financial transactions across departments like accounts payable, purchasing, vendor management, treasury, financial reporting, and planning. I might have several accounting managers reporting to me and get involved in recruiting, selecting, and training them.

Roles of Financial Controllers

Based on insights from the Institute of Management Accountants and Deloitte, I take on four primary roles. As a steward, I manage risk and preserve assets by implementing internal controls and collaborating with external auditors for compliance. As an operator, I oversee daily financial operations at a high level, including vendor setup, invoice processing, payroll, record-keeping, and purchasing. In the strategist role, I contribute to company direction, like providing feedback on accounting software plans. Finally, as a catalyst, I ensure processes run properly, meeting deadlines for external reporting and adapting to regulatory changes, such as tax distributions or audited statements.

Duties of Financial Controllers

My role varies by company, but I often handle tasks like managing cash flow—forecasting needs, planning for foreign currency, and alerting management to deficiencies. I act as the audit liaison, meeting with auditors, implementing changes, and communicating outcomes. I monitor internal controls by gathering feedback, designing processes, and assessing effectiveness. I approve invoices for large purchases, assist in budget preparation by distributing historical data, and minimize financial risk through process monitoring, training, and communication. Ensuring compliance means understanding requirements, allocating resources, and overseeing deliverables. I compile financial reports, stay updated on changes, oversee staff, and sometimes certify statements. I identify cost savings by spotting efficiencies and mentor financial staff by involving them in discussions.

Skillset of Financial Controllers

To become a controller, you need proficiency in education, experience, and possibly licensure. A bachelor's degree in accounting, finance, or business administration is essential, and a master's is often preferred. You'll typically need five to ten years of experience, or more for large corporations, sometimes including public accounting. While not always required, certifications like CPA, CMA, or CFA can be preferred.

Career Path of Controllers

Many of us start in accounting, often in public firms like the Big Four, gaining responsibilities over years. Moving to corporate, I might develop skills in transaction booking or managing departments like receivables or payroll. Often, I transition through an assistant controller role before becoming a full controller.

Accounting vs. Controlling

I'm deeply involved in financial accounting, but I don't always perform the tasks myself—controlling ensures data is accurate and timely, going beyond just recording. For instance, I might oversee accounts payable for 1099 reporting and provide feedback on improvements, focusing on overall accuracy rather than individual liabilities.

Controller vs. Other Financial Roles

In larger companies, I report to a CFO or executive but am not usually on the leadership team. Compared to a CFO, I'm more focused on ledgers, balances, and internal reporting, while they handle strategy, mergers, and investors. A VP of Finance often acts like a CFO, with me reporting to them on financial preparation. Unlike an FP&A director who plans for the future using my historical data, I'm rooted in actual transactions. A comptroller is similar but more common in government or nonprofits.

Who Reports to the Controller?

I often oversee leads in finance departments like accounts payable, procurement, purchasing, financial reporting, or payroll.

Is a Controller the Same As CFO or VP of Finance?

No, I'm not—those are higher executive positions focused on strategy, while I'm more into internal reporting.

Why Is a Controller Important?

I control financial risk and reporting, ensuring accuracy, identifying issues, and implementing changes for better outcomes.

The Bottom Line

As a financial controller, I'm a key finance officer managing the reporting process, working with audits, aiding budgets, and spotting risks and savings—essential but not executive-level in most firms.

What Is a Controller?

Highlights