With many changes to the global business, a financial controller’s job is evolving. To be successful, a financial controller must develop a solid understanding of the business they are involved in to contribute to its growth. Check out the finance controlling job description to know more. Thus it is important for individuals who want to pursue financial controlling as a career to know the job expectations. Below are the key areas that a financial controller should be able to address the challenges on an everyday basis.
1.Build a stronger connection across the company
the digital era requires information that is timed and accurate to get your decisions right. A financial controller who is well- informed can make better decisions than the one who has only historical decisions. To become a host and introduce yourself to all the colleagues, managers and the management team as well.
2.Know where the cash is.
the essential job of every finance controller is to manage the cash diligently. A company can go bankrupt if it doesn’t have sufficient cash to run the business. Therefore the role of every finance controller is to establish the optimum level of cash needed in the company. The controller needs to recommend ideas on how much money can be retained by the company, the amount of cash to be invested in projects and the amount to be distributed to the shareholders.Check out the finance controlling job description to know more.
3.Giving meaningful financial reporting
financial reporting is meaningful when it includes laying the information for finance, sales operations, and other executives. When the above method is followed it helps the management to direct the company in the right direction. Include qualitative information along with quantitative information.
4.Controls, processes, policies, and procedures
is the core area for all individuals with accounting background and thus their home ground. You should be able to recognize gaps and overlaps promptly in the processes and controls. Also, check for specific regulatory needs that are related to your business and industry and ensure that the company is running in compliance with all the regulations.
5. Manage risks while keeping an eye on growth
finance controller needs to manage and reduce risks. However, managing the risks should not mean a hindrance to the growth opportunities. You should be able to balance the thin line that exists between growth and risk.
When the above areas can be developed through a good action plan and balance, they tend to add great value to your business. Check out the finance controlling job description to know more. And irrespective of the job you are in, you need to develop a sense of humor that will help you win many people.