Financial Controller Leadership in the Digital Era

The financial controller is responsible for managing all finance and accounting operations of an organization. As an executive role, they’re responsible for developing or having oversight on the development of:

• Financial strategy, including risk minimization and opportunity forecasting
• Managing financial reporting, analysis and accounting operations
• Cost reductions and efficiencies across the organization
• Tax statements and payments across the organization
• Compliance with statutory law and financial regulations
• Investment advice

Financial controllers oversee all finance-related decision making, financial processes development, investment opportunities and management, stakeholder liaisons and various other accounting and finance-based responsibilities. They play a critical role in identifying opportunities to improve efficiencies across the finance operations of the business. This includes cost-efficiencies and talent management, as well as important technological upgrades and implementations to automate financial functions.

In addition, effective financial controllers need to be able to clearly communicate their findings and analytical data back to executives in a visualized way, to secure their support or sponsorship on major initiatives that have the potential to increase organizational revenue or output.

There are several ways a great financial controller can add value to their organization. Like any executive role, one of your key strengths should be stakeholder management, along with the ability to manage down as well as manage up to the executives in the boardroom. Value-adds can also include:

• Talent management: Finding the right people to fill the skills gaps or knowledge shortages on your team
• Data analysis and insights: Understanding and communicating data trends and discovery to key stakeholders clearly and effectively
• Digitalization and automation of data: Understanding and embracing technology in data analytics and implementing higher quality data technology

To be an effective financial controller, you must first and foremost be an established accountant or financial professional. Key skills to help you succeed in this type of role include:

• Strategic planning abilities
• Data analysis and communication
• Process improvement and optimization
• People management
• Technology advancements and implementation