Who is an Assistant Controller and what does he do?
This Assistant Controller job description gives the details of the duties of an assistant controller, the qualifications required for the post and the job prospects. An assistant controller works under the guidance of and assists the corporate controller in preparing and reporting financial statements conforming to principles of accounting and regulatory requirements. The main role is to ensure that the prepared financial statements are in accordance with the management’s instructions.
Various tasks performed by an Assistant Controller:
- Assisting the controller in the direction of the accounting functions of an organization.
- Assisting him in ensuring timeliness and accuracy of the financial statements.
- Preparation of budgets and financial reports and overseeing their evaluation.
- Presenting the various accounting reports to the top management and making suitable observations and recommendations.
- Monitoring investment policies and operations of the company.
- Managing operational data and maintaining data accuracy and integrity.
- Preventing inaccuracies in financial statements by setting up internal control systems and adopting proper policies for financial reporting.
- Reviewing financial data periodically to ensure fairness and completeness of the data.
- Developing system controls for ensuring data integrity.
- Developing proper operational, data documentation and troubleshooting procedures.
- Liaisoning with accounting software, system vendors, consultants and sale points.
- Conducting account reconciliations and analysis.
- Assisting in the company’s monthly and yearly closing.
- Assisting in special projects whenever asked.
- Managing hardware as well as software applications of the system.
- Implementation and upgrading of the system.
- Providing technical support system at company locations or franchisees
A Day in the Life of Assistant Controller
Credentials and Abilities required
What are the essential requirements for the Assistant Controller?
- Employers generally prefer a bachelor’s degree in Accounting, Tax, Audit or Finance.
- Professional certifications like CPA (Certified Public Accountant), CMA (Certified Management Accountant) and CFM (Certified Financial Manager) are also commonly held by an assistant controller.
- Proficiency in MS Excel and accounting packages is desirable.
- Practical training or experience in an Audit or CPA firm is beneficial.
- Some supervisory experience is also preferred.
- An assistant controller should possess good interpersonal and communication skills.
- Must be good at organizing and time management.
- Is expected to have latitude and creativity.
- Should have good judgement, planning skills and leadership traits.
What are the job prospects of an Assistant Controller?
- The job prospects of an assistant controller are excellent.
- An experienced assistant controller gets promoted to the role of a controller.
- Careers advance by getting higher educational qualifications like a master’s degree, CPA, CFM or CMA.
- The working hours are comfortable but can be long during the company’s monthly and annual closing.
- Industry salary depends on education, work experience, seniority, extent of responsibilities and company or industry size. According to BLS, the average salary of an assistant controller is $80,000.
How to become one?
Online schools and in campus programs offering Accounting degrees: