As a controller, how do you position yourself to be indispensable to your CFO?

I think that my CFO looks to me for technical guidance when it comes to accounting matters and processes. Those are matters of a very public company but we're also a European-based company that queries French so we have a lot of requirements, both from US GAAP, IFRS, ICC, etc. There are a lot of different ways that we need to look at the items as they're being identified and I usually consult with my CFO and then provide those types of answers to her. I am also quite a big fan of not being a controller, which is sometimes seen as someone who says yes or no. Trying to be at the table when those discussions happen is important so we can anticipate as much as possible. I think that she looks to me as a partner in the business, not really as someone who comes in at the end of the discussions.

As a controller, I think your number one responsibility is to make sure that you have a firm understanding of all of the financial activities of an organization. Typically you're in a smaller size organization than a larger one because you’re wearing both the FP&A hat and the financial accounting hat. You're responsible for closing, making sure that the CFO can rely on you to make sure the books are closed on time accurately, your reconciliations are clean, and making the audit process as painless as possible. 

A controller’s number one priority is making sure your balance sheet is accurate, that there are reconciliations to clean, and those processes are a feature that's possible. If you focus on the balance sheet, it makes everything else run a lot smoother. When it comes to the financial performance side of the business, you need a balanced and unbiased opinion on the financial performance. 

Ultimately, you want to reassure everyone that there is a path to success. Sometimes in the world of finance, we can skew conservative when it comes to our projections because we don't want to underperform. Therefore, we can potentially cause panic and people start to worry about things that aren't likely to happen. Once we identify a metric that is going off course, we have to find the underlying drivers to course correct. 

Well to be indispensable as a controller to your CFO, focus on developing strong financial expertise, delivering accurate and timely financial reporting, providing insightful analysis and recommendations, collaborating and communicating effectively, implementing strong internal controls, staying updated on industry and regulatory changes, continuously improving your skills, and building strong relationships with stakeholders. These efforts will demonstrate your value and contribute to your role as an essential asset for the CFO.