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Get to know about the duties, responsibilities, qualifications, and skills requirements of a comptroller. Feel free to use our comptroller job description template to produce your own. We also provide you with information about the salary you can earn as a comptroller.

 

Who is a Comptroller?

A Comptroller, also known as a Financial Controller, is in charge of ensuring that an organization’s finances are in excellent shape. Building a financial strategy for a company, developing annual and quarterly budgets, and supervising employees’ payroll processes are among their responsibilities. In the United States, a comptroller is a high-ranking executive who controls an organization’s accounting and financial reporting systems. All accounting, including accounts receivable, payroll, and loan transactions, is overseen by the comptroller. The chart of accounts and general ledger, which serve as the foundation for financial statements, are also under the supervision of the comptroller. In charitable organizations, government entities, and companies, comptrollers are the equivalent of chief financial officers. The comptroller serves in a similar capacity to controllers, albeit comptrollers are regarded as significantly more senior. The job of the comptroller may report to the chief financial officer or, in smaller organizations, the president or chief executive officer in companies with comptrollers. Comptrollers supervise accounting employees and establish an internal control system to guarantee that money is spent wisely. They oversee the processing of all accounting activities, including billings, accounts payable and receivable, payroll, collections, and cash receipts, as well as countersigning expenditures and receipts. The comptroller is also in charge of managing budgets and securing loans.

A comptroller is a management-level professional in charge of overseeing an organization’s accounting and financial reporting quality. A financial comptroller is a senior-level professional who controls the preparation of financial reports such as balance sheets and income statements and serves as the head of accounting. The comptroller general, auditor general, or comptroller and auditor general is the external auditor of the government’s and government-owned corporations’ budget execution in most Commonwealth countries. The comptroller general’s autonomous institution is usually a member of the International Organization of Supreme Audit Institutions. The comptroller serves as a public body’s senior financial officer in the United States. The comptroller is similar to a chief audit executive in corporate management, with a top role in internal audit functions. In general, the term covers a wide range of tasks, including overseeing accounting and internal controls, as well as countersigning on spending and obligations.

A comptroller is a high-ranking executive who oversees the quality of accounting and finance operations. They usually have a finance degree. Comptrollers are similar to a public organization’s chief financial officer (CFO) or a private company’s chief audit executive (CAE). Comptrollers have five main responsibilities which include:

1. Management: Depending on their position and industry, comptrollers will have a variety of managerial responsibilities. They are typically expected to maintain an accounting policy and procedure system. They may be in charge of accounting personnel and operations, including employee training, development, termination, and performance assessments. Some may restructure the company in order to meet financial and departmental goals. Outsourced services to CPAs, external auditors, and financial organizations are managed by some comptrollers. Comptrollers may manage the accounting activities of subsidiary companies, as well as their rules, procedures, transactions, control systems, and everyday processes, in the corporate sector.
2. Transactions: Every day, comptrollers may monitor a large number of transactions. Payroll, general ledger, accounts receivable, accounts payable, cost accounting, financial planning, and accounting analysis are examples of these functions. Accounts payable should be appropriately collected, processed, and posted, according to comptrollers. They could go over their everyday actions to make sure that all appropriate reductions have been implemented. They may be required to maintain a chart of accounts, a well-organized filing system, and an internal control system. Some comptrollers make sure that bank reconciliations are conducted on a regular basis and that the debt payments are fulfilled on time.
3. Reporting: Comptrollers may prepare annual reports, manage the production of budget predictions, and produce scheduled financial statements. They may suggest benchmarks as a way to assess operational or departmental performance. They may calculate budget deviations, operating metrics, and financial data on any given day in order to disclose important difficulties to management. Asset schedules, depreciation schedules, and inventory management systems may be maintained by some comptrollers. Financial analysis reports for price choices, contract negotiations, and substantial capital investments may be requested by executives.
4. Auditing: Comptrollers are financial managers who work for government or public agencies and may conduct audits of employer records to determine if they are in accordance with state and federal regulations. They will be required to examine records, quarterly tax reports, and internal paperwork in order to detect and calculate possible penalties and interest owed. They will notify the employer of the audit findings and required corrective steps. This may entail informing employers on the importance of precise and timely tax and wage reporting. They must file tax and wage adjustments with the appropriate government bodies. They must be able to oversee audits at various stages while adhering to strict deadlines.
5. Training: Comptrollers, as senior accountants and financial experts, are frequently a source of educational guidance and support. They may assist in the development of in-person courses and online modules to train about corporate policy, proper procedures, professional ethics, and state and federal laws in corporations with hundreds of accounting and financial staff. They may have to instruct non-financial employees on accounting procedures, thus they must be able to develop user-friendly, well-organized, and simple presentations for non-technical audiences. Internal surveys and continuous improvement efforts will be part of the training sessions.

A comptroller is a high-level role inside a corporation, hence they should have a finance degree from an undergraduate or graduate program. These training programs educate students on how to establish goals, coordinate projects, deal with situations, and evaluate portfolios using best practices in financial management.

A company’s comptroller has a variety of critical responsibilities. Their overall role is to ensure that the business runs well from a financial standpoint. This entails ensuring that there are plans and controls in place to keep the organization in good financial shape, as well as ensuring that each accounting employee meets those requirements. Internal control audits are also conducted by the Comptroller to ensure that the company is following legal and ethical business practices.

 

Comptroller Job Description

Below are the comptroller job description examples you can use to develop your resume or write a comptroller job description for your employee. Employers can also use it to sieve out job seekers when choosing candidates for interviews.

The duties and responsibilities of a comptroller include the following:

• Oversees an organization’s accounting and financial reporting procedures, such as payables, receivables, and general ledger entries.
• Maintains an internal control system to guarantee that funds are properly secured and used, as well as aiding internal and external auditors.
• Manages all accounting transactions, budgets, and loan activities.
• Plans for business growth and new opportunities by designing, articulating, and implementing strategies.
• Considers credit, liquidity, price risk, and interest in every activity.
• Establishes policies and procedures to ensure financial reporting integrity.
• Conducts risk assessments with the help of senior managers.
• Develops financial growth strategies for the organization.
• Provides financial training to staff when necessary.
• Contributes to the budgeting process.
• Gives the executives the financial data they need to make forecasts.
• Creates, maintains, and monitors a system of checks and controls that aids in the prevention of financial fraud in a business.
• Assures that the company’s and legislative standards are met.
• Reports disparities.
• Budgets development and forecasting under the leadership of the CFO.
• Ensures that month-end and year-end close processes are completed on time and accurately.
• Creates financial statements in a timely manner.
• Collaborates with business partners as a company representative.

 

Qualifications

• A bachelor’s degree in accounting, business administration, or finance is required.
• 5+ years of job experience in a similar field.
• QuickBooks and Salesforce are two programs that I am well familiar with.
• Microsoft Office Word, Excel, and Outlook are all skills that you should have.
• Excellent knowledge and comprehension of all applicable rules and regulations.
• Excellent communication skills, both verbally and in writing.
• Working as part of a team is a plus.

 

Essential Skills

• Innovation: The process of converting a fresh idea into a service that adds value or provides better solutions that match the needs is known as innovation. A comptroller should integrate innovation into their organization to save time and money while also offering the company a competitive advantage to expand and adapt in today’s industry by developing more efficient processes and concepts with a higher chance of success.
• Time Management: Time management refers to an individual’s ability to allocate certain time slots to activities based on their relevance and urgency in order to make the most efficient use of time. A Comptroller must arrange each work for each employee within a specific time frame and ensure that all activities are performed on time, effectively educating the staff the value of time and how to use it for the benefit of the company and its growth.
• Accuracy: Accuracy refers to the closeness of a measured value to a known value or standard that is passed by the governing laws. A Comptroller has to always be accurate with figures and data used and required in the office without any guesswork or estimations to facilitate precise and correct information in every department creating an authentic environment that will be respected by the workers.
• Financial Management: Financial management is the ability to handle accounting, finance, and organizational management by giving daily data on operations that occur on a daily basis. A comptroller must be very effective in the planning, organization, control, and administration of financial resources in order to meet the firm’s organizational objectives, which must be met in order for the company to grow.
• Multi-Tasking: Multitasking enables you to juggle and complete multiple tasks at once without losing track of what you’re doing or dropping the ball. A Comptroller must master the art of multitasking and assist employees in balancing competing demands on their time and energy since they are expected to handle several responsibilities every day without sacrificing the quality of their work.
• Flexibility: Flexibility is a valuable talent that helps companies and employees to work out a plan for achieving a work/life balance that will help firms enhance their production and efficiency. A Comptroller must come up with innovative ways to design flexible schedules for all of his staff by adding flexible working arrangements and individual flexibility agreements that allow for negotiation of how specific agreements relate to them and how they can be altered.
• Initiative: An initiative is the ability to appraise and initiate things on one’s own, frequently without the assistance of a boss. A Comptroller must teach his employees how to take on jobs without being asked and do them to a standard that the firm accepts, thus cultivating a skill that benefits both the individual and the group.
• Scheduling: Scheduling is the process of developing daily workflow charts for staff to follow when working on and submitting tasks. A Comptroller must be dedicated to establishing and maintaining the schedule, whether by manual or technological means, to guarantee that it is always updated according to the tasks, the personnel accountable for each activity, and the time allotted to each task without fail or delay.
• Orientation to Work: Orientation to Work is the process of introducing a new employee to coworkers and providing pertinent information such as timetables, performance requirements, benefits and facilities, supervisor names, and so on. A Comptroller must guarantee that all new employees are given an orientation to help them integrate into the company and learn what is expected of them.
• Self Confidence: Self-confidence is the ability to recognize who you are and what you are capable of, as evidenced by your actions, body language, and speech. A Comptroller must be self-assured enough to inspire others’ confidence while encouraging them to approach everyday activities and personal life with self-assurance, resulting in a well-rounded individual.
• Ability to work with numbers in a way that is second to none.
• Exceptional organizational abilities.
• Worked with spreadsheets and financial analysis tools in the past.
• Excellent communication abilities.
• Patience and tenacity, combined with meticulous attention to detail.
• Financial standards and regulations, as well as regulatory and other financial standards and requirements.
• Taxation, payroll, and other financial components of a business are all things that need to be understood.
• Auditing experience is required.

 

How to Become a Comptroller

1. Earn Your Degree

Earning a formal degree from a school with a top-notch accounting department is the first step toward pursuing any type of senior career in finance. You’ll need a bachelor’s degree in accounting at the very least. While a concentration isn’t required, enrolling in a program that focuses on forensic auditing and internal auditing topics will help you cover the curriculum you’ll need. By doing so, the application will bypass the tax preparation portion and instead focus on auditing. This will give you an advantage over the competition if you begin working in finance before achieving the requirements to become a comptroller. Comptrollers’ educational base for their careers is almost typically an undergraduate accounting degree. Finance, economics, and business administration are among the other undergraduate degree areas pursued by future comptrollers. Future comptrollers who pursue those alternative degree programs typically pursue a master’s degree in accounting (MAcc). When given the possibility, these students also tailor their degree programs to include auditing concentrations. Most undergraduate accounting programs do not offer enough courses to meet the training requirements for accounting licensing, hence MAcc programs are common. As a result, the majority of comptrollers have advanced accounting degrees.

2 Get Involved in Internship Opportunities While In School

Internships are becoming increasingly important in the accounting business, and most approved accounting degree programs now include internships as part of their curriculum. Although tax preparation internships are the most popular among accounting students, aspiring comptrollers should broaden their options to include assignments with well-respected audit teams. Because the supervised experience received via internships is so vital to all accountants’ professional advancement, most students look for internships outside of their schools when their programs do not offer the necessary types of internships. Internship experience can help you impress employers who are tasked with reviewing hundreds of resumes every day. Consider seeking to become a member of the Beta Alpha Psi honor society if you want to stand out and demonstrate your commitment to accounting. This is a society for high-achieving accounting students who wish to be a part of a community of like-minded accounting students. You can also consider applying to join the Institute of Internal Auditors. As a student member, you can not only make use of the tools provided to you, but you can also demonstrate to employers that you are serious about becoming an internal auditor and earning your certification.

3. Get Licenses and Certifications

Almost all comptrollers are licensed and have earned the certification of the certified public accountant (CPA). The CPA license is the most well-known credential in the accounting profession, and it is the primary means by which employers validate a candidate’s knowledge of the industry. The CPA certificate requires 150 semester credit hours of accounting or business training, passing a four-part comprehensive examination, and actual supervised job experience in addition to a degree from a recognized accounting program. Depending on the state, different levels of job experience are necessary. The Certified Internal Auditor accreditation is very popular among comptrollers, and accounting professionals who work in government program offices can get the Certified Government Financial Manager credential.

4. Get Professional Experience

After you’ve obtained your degree, you’ll need to begin gaining professional experience outside of the classroom. You can begin applying for an entry-level accounting or even better, auditing jobs. Before you begin sending applications, you should think about the industry in which you want to work. Finding an auditing position in a state government agency or a federal agency will help you acquaint yourself with governmental practices if you want to work in the public sector.

5.  Get Professional Association Memberships

Most accounting credentials require ongoing study and, in some circumstances, periodic exams to keep them current. Joining professional accounting associations such as the Institute of Internal Auditors, the American Institute of CPAs, and the Association of Government Accountants is one option for aspiring comptrollers to earn education credits and prepare for exams. For an accountant on the fast track to becoming a comptroller, these organizations provide good networking possibilities.

 

Where to Work as a Comptroller

Comptrollers often work in executive-level supervision positions in a company’s financial or accounting divisions. They’re often in charge of creating organizational financial budgets and allocating duties to their staff to accomplish these new financial and budget modifications. In urban locations, they frequently work in huge corporate headquarters, banks, or government buildings. They are frequently called upon to attend meetings with other managers in order to discuss financial policies.

 

Comptroller Salary Scale

As of February 25, 2022, the average Comptroller pay is $80,606, although the compensation range frequently ranges between $72,066 and $90,599. Salary ranges rely on a variety of things, including schooling, certifications, supplementary talents, and the number of years you’ve worked in your field.

The following is the annual income earned by customs officers based on the Nigerian Customs Service Salary Structure:

• The Comptroller General’s salary ranges from $2,870,000 to $2,500,000.
• The salary of a Deputy Comptroller General ranges from $2,570,000 to $2,480,000.
• Assistant Comptroller General’s salary ranges from $2,470,000 to $2,280,000.
• Comptrollers make between $2,070,000 and $1,880,000 per year.
• Deputy Comptrollers are paid between $1,770,000 and $1,580,000 per year.
• Assistant Comptrollers make $1,570,000 to $1,480,000 a year.
• The salary of the Chief Superintendent Customs Officer ranges from $1,370,000 to $1,280,000.
• The salary range for a Deputy Superintendent Customs Officer is between $1,270,000 and $1,180,000.
• Between $1,070,000 and $980,000 is earned as an Assistant Superintendent of Customs I & II.
• Inspectors of Customs make between $970,000 and $880,000 per year.
• Assistant Customs Inspectors make between $870,000 and $780,000 per year.
• Customs Assistants make between $770,000 and $680,000 per year.

Government and Public Administration

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