Financial controller: What it is and how to become one

If you’re an organized self-starter who is also great with people and numbers, you may thrive in the role of a financial controller. A vital upper-level manager in accounting, Finance Controller is a respected and lucrative job title for accountants aspiring to grow their careers. 

But before jumping on the path toward financial controller, learn more about the position and the steps you need to get there. 

Table of contents 

1. What is a financial controller?
   1. Tasks
   2. Skills
2. How do I become a financial controller?
   1. Education
   2. Credentials
   3. Experience 

3. Planning your career towards financial controller

    

What is a financial controller?

A financial controller is a company’s lead accountant who oversees all daily operations of accounting, tax, bookkeeping, financial management, budgeting, forecasting, etc. They are responsible for maintaining accuracy and compliance regarding the money coming in and going out of the organization. 

It is important to note that this is an internal position, working as part of a single organization, rather than for a public firm with multiple clients. 

Financial controller tasks

Everyday responsibilities for a financial controller include: 

• Overseeing all accounting activities 
• Defining internal spending policies 
• Coordinating external consultants and tax specialists 
• Managing company bank accounts 
• Ensuring receipt of payments 
• Maintaining accuracy and timeliness of bookkeeping and reporting¹ 
• Increasing accounting and process efficiency² 
   

Financial controller skills

Financial controllers hold great responsibility and should be skilled in these areas: 

• General accounting best practices 
• Tax law and regulation 
• Industry-specific accounting knowledge³ 
• Accounting software and technology 
• Budgeting 
• Financial reporting 
• Team management 
• Communication 
• Organization 
• Accuracy⁴ 

How do I become a financial controller?

To be qualified for a financial controller position, you need a combination of education, experience, and certifications. 

Financial controller education

At minimum, you must hold a bachelor’s degree. Most who earn this position will have an educational background in accounting, finance, or business administration, but it’s possible to come from another field if you have the appropriate experience and credentials. 

An MBA or master’s degree in accounting is also valuable to a getting a job as a financial controller and help your resume stand out as competitive against other candidates. 

Financial controller credentials

Professional credentials are important to demonstrate your expertise and specialized skillsets. While some employers might hire you as a financial controller without additional credentials, many require them and your chances of getting hired are much greater when your resume is boosted with certifications and licensures.⁵ 

Consider earning one of these credentials: 

Certified Management Accountant (CMA): This certification is considered the highest standard in management accounting, demonstrating expertise in financial strategy, analysis, and risk mitigation. Management accountants typically work in private industry and gain organization-specific knowledge; CMAs are therefore equipped with the knowledge, experience, and credential that make them ideal candidates for a financial controller position.  

Certified Public Accountant (CPA): For anyone working in public accounting, a CPA license is the credential that expands service offerings and opens doors. It is considered one of the more difficult licenses to earn and requires deep knowledge of accounting practices and tax regulations. CPAs often work in public accounting roles, but the accounting and tax expertise required for this licensure is extremely valuable for this role. 

Financial controller experience

To become a financial controller, you should also bring about 10 years of professional experience to the table. This should include accounting positions of increasing responsibility and range of tasks, with some team leadership experience. 

You should also build managerial accounting experience in the industry or—better yet—with the company for which you’d like to be a financial controller. With specific industry and organizational knowledge, you can apply your skillsets more precisely to your position.⁵ 

Planning your career towards financial controller

Even if you don’t yet have the credentials or experience to become a financial controller, you can start planning your career steps to get there. 

There are many paths to build your career towards achieving your goal, but here are a few roles that may be useful on your journey to get there:⁶ 

Take the next step to become a financial controller

Don’t forget that a CMA certification is one of the most useful and competitive credentials you can earn on your way to becoming a financial controller. Learn more about how to become a CMA with Becker!