If you are an accounting or finance firm looking to hire a controller, you know that the task at hand is not easy. You need to find a highly knowledgeable individual who is prepared to wear multiple hats and lead various tasks efficiently and strategically.
A controller in the company is a financial leader or guru who manages the finance department and plays an integral role in making critical financial decisions in the company. A few examples may include monitoring policies and procedures, setting budgets, overseeing complex tax issues, providing guidance, and partaking in significant financial discussions.
Hiring a financial controller may seem daunting, but when the correct candidate comes along armed with the perfect skills, they can provide complete financial support and help a business immensely.
Here is a list of skills that matter when hiring a controller:
The abundance of Accounting Experience
A lot is riding on the job at hand, and it is of the utmost importance for the candidate to be well acquainted and highly experienced in the finance and accounting roles. This knowledge provides them with an understanding that they can leverage in the advanced position.
Deep Knowledge of Finance Workings
A controller should be an all-rounder in all the financial aspects of the company. Candidates should be experts in performing various tasks like revising invoices, handling accounts, negotiating contracts, delegating, managing meetings with tax advisors and auditors, and running the department smoothly.
They should also be updated with the current requirements and policy guidelines.
Leadership and Management Skills
A controller must have impeccable leadership and management skills because the job requires leading teams of accounting and financial experts. A controller must manage and earn the team’s trust and respect to ensure a healthy and organized work environment.
The job calls for the controller to be a leader and champion through difficult times, manage deadlines, work pressure, and stress.
Potential candidates should show competence in all accounting matters relating to the company. They should be prepared to solve problems, answer complex questions and tackle challenging scenarios in the financial department.
Typically, a controller must have a master’s degree in accounting or business administration, and many are CPAs or CMAs.
A controller must possess excellent communication skills because of the constant interaction between teammates and reporting to senior leadership about essential business strategies.
Practical communication skills help in smooth execution and prove to be a gateway for effortlessly addressing, tackling, and overcoming errors and risks.
Organized and Detail Oriented
A controller must be organized and detail-oriented to handle a plethora of financial data documented accurately. The candidate must know how to upkeep the books orderly and have an eagle’s eye for detail to spot errors, recognize patterns, and act upon potential opportunities.
Hiring a financial controller in a company is a huge step. This position is very crucial for the company’s well-being and success. So the hiring decision must be made keeping in mind the company’s needs and matching them with the candidate’s expert skills and qualities.