What Is a Financial Controller?
What Does a Financial Controller Do?
A Financial Controller is a senior-level position responsible for managing and overseeing the financial activities of a company or organisation. They play a key role in financial reporting, budgeting, and forecasting, and ensure compliance with accounting standards and regulations.
What Are the Responsibilities of a Financial Controller?
A Financial Controller establishes internal controls and manages day-to-day financial operations within a business. They provide strategic financial guidance, assess investment opportunities, and contribute to financial decision-making.
They work closely with Audit Seniors, address compliance issues, and maintain financial integrity. Additionally, they lead and mentor finance teams, ensuring their professional development.
While working as a Financial Controller, you will be required to:
- Prepare accurate financial statements, including income statements, balance sheets, and cash flow statements.
- Analyse financial data and provide insights on financial performance to support decision-making.
- Ensure compliance with accounting standards, regulations, and financial reporting requirements.
- Present financial reports to senior management and stakeholders.
- Collaborate with departments to develop budgets and forecasts aligned with business goals.
- Monitor and analyse budget performance, identify variances, and provide recommendations.
- Participate in financial planning discussions and provide input on financial feasibility of projects.
- Establish and maintain effective internal control systems to safeguard assets and mitigate financial risks.
- Monitor compliance with financial policies and procedures.
- Work closely with auditors for internal and external financial audits.
- Address audit findings and implement corrective actions.
- Oversee day-to-day financial operations, including cash management, accounts payable and receivable, and payroll.
- Ensure accurate and timely processing of financial transactions.
- Monitor financial data integrity and resolve any discrepancies.
- Manage relationships with financial institutions and external vendors.
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