Financial Controller Job Description: Top Duties and Qualifications

A Financial Controller, or a Comptroller supervises all accounting-related activities in an organisation. Their duties include maintaining internal controls over financial reporting, presenting financial reports to an executive team and overseeing the preparation of budgets.

 

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Financial Controller duties and responsibilities

The functions of a Financial Controller vary depending on factors like the size and structure of a company. Financial Controllers that work in smaller companies typically have a broader scope of responsibilities, which may include those of a Finance Director and a Treasurer. In general, their day-to-day tasks include:

  • Ensuring that an organisation meets the necessary tax, permit and licencing requirements
  • Collaborating with an executive team in establishing more effective processes and controls to ensure the integrity of a company’s ledger
  • Overseeing all financial control activities, including the review and analysis of monthly and quarterly numbers and disclosures
  • Providing executive management with accurate and comprehensive financial information to guide effective policy making and financial strategising 
  • Summarising budget trends, analysing deficiencies and reporting variances to executives
  • Providing external auditors with the necessary documentation and support
  • Taking care of tax preparation duties or liaising with external tax accountants for tax preparation

 

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Financial Controller Job Description Examples:

 

Example 1

FDM is a firm of solicitors, regulated by the SRA, based in Manchester City Centre specialising in financial mis-selling claims for portfolios of Individual Voluntary Arrangements (“IVAs”). The Financial Controller will report to the Managing Director and will be responsible for managing all aspects of the finance function and for fulfilling the regulatory role of Compliance Officer for Finance and Administration. The ideal candidate must be available with a month/immediately available and must be a qualified accountant (ACA, ACCA, or CIMA) and must have relevant experience within the finance function of a firm of Solicitors or within a similar regulated industry with exposure to handling client money. You will be comfortable working with, and manipulating, large amounts of data and ideally have experience using the Proclaim system. Key responsibilities as follows: · Producing monthly management accounts and cash flow forecasting and presenting the same to the Board. · Overseeing banking of all client cheques. · Overseeing the matching of client cheques to offers of redress at point of banking or, if later, via the Suspense matching process. · Preparing month-end Returns for IVA clients of matched redress and producing all billings and accounting entries therefrom. · Producing MI for the Senior Management team on unpaid offers and money held in suspense not matched to offers. · Approving all month-end office and client account bank reconciliations for regulatory purposes. · Ensuring that all purchase invoices are processed correctly, submitting them for approval, and ensuring that they are paid on time. · Liaising with IVA client to ensure that fees are paid on time. · Processing all slips raised by fee earners and dealing with any related requirements such as raising payments. · At all times ensuring compliance with statutory requirements including adherence to SRA Account Rules. Remuneration will be £60,000 pa to £70,000 pa depending on experience with 25 days’ holiday per annum. Expected start date: 01/07/2021 Job Types: Full-time, Permanent Salary: per year Benefits: * Casual dress Schedule: * 8 hour shift * Day shift * Monday to Friday COVID-19 considerations: One way systems currently in operation throughout the office, with a limited number of people working on site. Work remotely: * No

Example 2

*Company description* The FD Service provides high quality Financial Director services to its clients, helping start, grow, develop and run businesses from top to bottom. Disrupting the stereotype of what value an accountant / finance director can bring to a business, we use the latest software and cloud technology to streamline workflows, instil best practices, project cash flows, train and provide finance functions for our clients, allowing them to get back to why they went into business in the first place. *Job description* Tired of working in a high volume typical accounts practice? Or looking to gain more experience across multiple industries? After a short period of fast growth we’re looking for an experienced, highly motivated and innovative finance professional who wants to add value to a number of clients from a variety of industries. The Portfolio Financial Controller will help manage and drive client business results through the creation and maintenance of robust and effective financial management systems, enabling business strategic aims and objectives to be met. The responsibility of the role will include and not be limited to: * Assisting in producing timely cash flow forecasting * Overseeing and digitally revolutionising accounting and business operations * Ensuring accuracy of financial information * Communicating and training business owners and internal finance teams * Delivering accurate and timely monthly management accounts * Develop annual statutory financial statements and reports * Providing detailed financial appraisals of strategic initiatives * Participate in budgeting processes * Providing strategic and financial advice to help drive businesses performance Our Unicorn Candidate * Ideally a qualified accountant (CIMA, ACCA, ACA), though qualified by experience candidates will also be considered. * Have worked in similar hands on Financial Controller, Finance Manager or Head of Finance roles. * Have strong knowledge of Xero. * Possess an entrepreneurial spirit, strong analytical skills, exceptional problem-solving, a flair for numbers and be highly organised. * This individual should be in a position to provide financial analysis, reports and guidance on business finance issues. * Experience and desire to work with automation and the latest in cloud software. This is a unique opportunity to break away from the norm and be a part of a fast growing, valuable advisory service. You are required to be eligible to work in the UK full time without restriction. Position: Full Time Location: Currently Remote, however will be based. Application deadline: 30/06/2021 Job Types: Full-time, Permanent Salary: Up to £35,000.00 per year Benefits: * Casual dress * Childcare * Company pension * Private dental insurance * Private medical insurance Schedule: * Monday to Friday Work remotely: * Yes

Example 3

An exciting opportunity has arisen to join Certex UK as a Financial Controller at the company Head Office in Harworth, Doncaster. As Financial Controller you will work alongside the Managing Director to ensure accurate and timely financial information is reported for the Company to the Group. Certex UK is part of the Axel Johnson International group of companies and this role will enjoy the benefits and responsibilities associated with being part of this group. *Key Responsibilities: * * Production of monthly management accounts * Facilitate review of P&L trends * Balance sheet reconciliations * Account Reconciliations * Purchase Ledger / Accounts Payable management * Drive forecasting for plans, cashflow, etc * Manage insurances (using broker) * Support to local Management Team with ad hoc enq. * Stock valuation & control * Active role in the strategic leadership team * Legal contracts review * Manage & develop finance team * Identify efficiencies and process improvements * Submissions to HMRC for PAYE, VAT, Intrastat * IT/ERP oversight * Oversight & support of HR department and activities * Assist with acquisition strategy and onboarding of new businesses * Prepare board pack for bi-annual board meetings *Person Specification: * The candidate should be confident, a self-starter, with the ability to operate in a dynamic environment and a hard working individual with energy and motivation. *Key Skills Required: * * Be able to work to strict reporting deadlines * You must be able to demonstrate good judgement skills showing sound and logical decision-making process * Possess good time-management and organisational skills, with the ability to multi-task, work under pressure and plan workflow * Possess excellent verbal and written communication skills * Ability to work as member of a team * Have an ordered approach to documentation and procedures * Excellent accounting software user skills * * Good understanding of business and financial issues * 5+ years of combined accounting and finance experience in a commercial environment * Thorough knowledge of accounting principles and procedures * Experience with consolidation of group financial statements * Experience with reporting of financial performance to parent group * Able to work on modern ERP & IT systems * Advanced working knowledge of Microsoft Excel is essential * ACA / ACCA / CIMA qualified Initial preliminary interviews (approx. 30 mins) to be held by Teams followed by an in-person interview at our Head Office location. Reference ID: FC1 Application deadline: 25/06/2021 Job Types: Full-time, Permanent Additional pay: * Bonus scheme Benefits: * Company car * Company pension * Life insurance * On-site parking * Sick pay Schedule: * Monday to Friday Experience: * Accounting: 1 year (preferred) Work remotely: * No

Example 4

Stordis GmbH | Rosenwiesstr. 17 | 70567 Stuttgart | Germany | T: +49 (0)711 34 21 58 0 Stordis Limited | 18A Ley Court, Barnett Way | Gloucester GL4 3RT | United Kingdom [email address] | [website] | [website] Stordis is one of Europe’s leading companies in the field of ‘Open Networking’ and specialises in developing innovative, tailor-made networking solutions. We have offices in Germany (Stuttgart) and in the UK (Gloucester). Our primary customers are renowned enterprises operating in academia and research, media and entertainment, cyber security, financial services, defence, and service providers. We are highly committed to promoting the “Open Networking Revolution” with the help of our international memberships. As a result of positive progress, we are expanding and we are looking for a motivated new team member in the position of Financial Controller, based in our UK, Gloucester office. Financial Controller As our Financial Controller you are responsible for the administration of Stordis finances and support of supply chain activities as listed below. You will report to the Chief Operating Officer. Your upcoming tasks:
  • Manage all aspects of Accounts Payable (AP) and Receivable (AR)
  • Prepare cash flow reporting and forecasting
  • Manage monthly payroll
  • Prepare and submit VAT returns
  • Assist with preparation of statutory accounts and corporation tax
  • Prepare month end processes and associated reporting
  • Operate and enhance financial controls including balance sheet reconciliations
  • Maintain the fixed asset register
  • Keep up to date with changes in UK financial reporting standards, legislation and tax law
  • Support the Operations Team with supply chain activities: place purchase and sales orders, receive and issue goods and invoice customers
  • Manage ERP systems activities as requested

    • What does a Financial Controller do?

    A Financial Controller has a senior position in a company’s finance team and is typically second in command after the Finance Director. The primary function of a Financial Controller is to oversee the collection, analysis and consolidation of financial data and to assist the Finance Director in the effective management of an organisation’s finances. Financial Controllers play a key role in the development and maintenance of financial controls, processes and systems and ensure that these are in line with statutory requirements.

     

    Financial Controller skills and qualifications

    As a Financial Controller acts as a valuable link between a company’s financial and executive teams, they must have strong communication skills. They need to clearly communicate financial information to senior management and must have the ability to build strong relationships with key stakeholders. A successful Financial Controller candidate will have various prerequisite skills and qualifications that typically include:

    • A practical understanding of management accounting principles and techniques
    • Solid knowledge of standard accountancy and finance best practices
    • Solid IT skills, including proficiency in the relevant accounting packages
    • A strong understanding of tax codes and laws 
    • Strong analytical skills to effectively analyse financial reports
    • In-depth knowledge of budgeting and financial forecasting

     

    Financial Controller experience requirements

    Financial Controllers typically need many years of experience in professional accounting or auditing. To cope with the demands of the job, candidates normally also need previous experience in a managerial accounting position. A background in corporate financial management will provide candidates with valuable skills for the job. In general, Financial Controllers must show extensive experience in leading financial teams and overseeing a company’s financial control and reporting activities. Candidates also need knowledge of change best practices and experience in working with relevant financial and accounting software packages.

     

    Financial Controller education and training requirements

    Although there are no fixed education and training requirements for this job, many Financial Controllers possess a bachelor’s a degree in accounting, economics, finance or a related field. A master’s qualification, such as a master’s in Business Administration (MBA) or a master’s degree in accounting is advisable, as this level of education provides in-depth and specialist knowledge in key areas. Candidates with an accounting background typically obtain a recognised professional qualification from a professional institution, such as the Association of Chartered Certified Accountants (ACCA), Chartered Institute of Management Accountants (CIMA) or the Institute of Chartered Accountants in England and Wales (ICAEW).

     

    Financial Controller salary expectations

    According to Indeed Salaries, the average salary for a Financial Controller is £56,094 per year. Salaries will vary, though, depending on factors like location and employer.

     

    Job description samples for similar positions

    If this job description doesn’t adequately describe the job opening you have, here are a few job description samples of similar positions to look at:

     

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    Financial Controller job description FAQs

     

    What's the difference between a Financial Director and a Financial Controller?

    Although there may be a considerable overlap in duties at times, these are two distinct roles. Whereas a Financial Controller has a controlling function, a Financial Director directs and has more strategic responsibilities, such as leading merger and acquisition deals or planning exit strategies.

     

    Who does a Financial Controller report to?

    Who a Financial Controller reports to differs according to the size and structure of a company. In large organisations, a Financial Controller may report to a Finance Director. As Financial Controllers who work in smaller companies often take on the duties of a Financial Director, they may report directly to the Chief Financial Officer (CFO).

     

    What are the hours of a Financial Controller?

    Financial Controllers typically work normal Monday to Friday, 40-hour weeks. It’s only on rare occasions that these professionals need to work on bank holidays. The job doesn’t normally require travelling.

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