What is the role of a financial controller, and who is a financial controller?

Please refer the below info by EY

 

http://www.ey.com/Publication/vwLUAssets/Changing_role_of_the_financial_controller/$FILE/EY_Financial_controller_changing_role.pdf

These are the roles for a financial controller as mentioned bellow:   1)      Preparation and submission of Accounting and Business Performance Reports   2)      Preparation and submission of month end accounts, VAT returns, bank and balance sheet reconciliation   3)      Conducting of regular Auditing and Regulatory Compliance   4)      Setting and checking targets and monitoring of each department   5)      Implement and maintain all financial controls and systems  within the business.
  6)      Preparation of payroll figures   7)      Preparation of cash flow statements   8)      Manage insurances   9)      Preparation of annual statutory account   10)  Liaisons with external advisors for preparation of annual statutory account.
      A modern financial controller must have the following criteria:       a)      Able to work on ERP & IT system   b)      Competent on Excel   c)      Hard Worker   d)      Good Communicator   e)      Proper knowledge on accounting regulations   f)        Sound decision making   g)      Well understanding of business and financial issues.
         

A financial controller -- sometimes called a "comptroller -- is the lead accounting executive in a company.
A controller’s duties can vary depending upon the size of the company, the complexity of accounting and financial operations and the number of people employed in the accounting department.
The controller provides financial leadership and is instrumental in forming accounting strategies.
A controller's role, especially in smaller companies, can include broad visionary responsibilities as well as hands-on management.
A Comptroller, or Financial Controller, or Financial Control Officer (FCO) is an accounting/audit expert in a business who oversees accounting and the implementation and monitoring of internal controls, independently from the Chief Accountant ("CAO") or the Chief Financial Officer ("CFO").
In the United States, the United Kingdom, Australia and Canada, a comptroller or financial comptroller is a senior position, reporting to a CFO in companies that have one.

Financial controller is a designation capable of setting financial policies and directions of the organization.
Further FC is required to manage all the financial affairs of the organization.

In simple words -A financial controller is the one who monitor and control the finance.
  And some of the roles are –   Monitor the Cost Analyze the Finance option Help to Control the Financial position of the company.
Maintain the needed liquidity of assets

Financial Controller role and responsibilities may vary from company to company with some focusing more on Controls or Costs or Financial strategy.
Ideally, Financial controller will be a person who is able to lead/ manage team of professionals and is capable to drive the financial strategy of the company.

responsible for supervising the quality of accounting and financial reporting of an organization.

a financial controller is always good team player,problem solver, handle day to day activities at a correct manner,updated all things, open minded

The financial controller is responsible for the business accounting activities.
He plans the finance, prepares financial statements, budget for the organization, and does the presentation of statements to the members of the organisation.
He may also be involved in negotiations with the insurance companies on behalf of the organisation.
The Financial Controller oversees the day to day activities of the finance team and ensures the companies finance function is organised and efficient and produces accurate financial and management accounts.
  Duties include:   •Management of the finance function and overseeing the finance team.
•Preparation of budgets, forecasts and cash flows •Maintenance of financial ledgers and accounting processes •Preparation of Monthly Consolidated P&L and Balance Sheet •Timely production of statutory and internal financial reports •Financial modelling and analysis •Cash management and treasury duties •Ensuring that appropriate systems and internal controls are implemented and maintained •Overseeing the Payroll process •Preparation of VAT returns   Nature of the Work   A financial controller, or financial director, oversees a firm's financial accounting and reporting activities.
At the end of each month or quarter, he prepares GAAP accounting reports, such as balance sheets, statements of income, statements of cash flows and statements of equity.
  Education   A finance director usually has a master's degree in accounting, auditing, taxation or finance.
Finance controllers with significant managerial duties usually hold certified public accountant or certified financial manager licenses.
  Thanks Hany Sewilam AbdelHamid Business Development Manager