Controllers have one of the most important – and overlooked – jobs in finance. Think about it. Have you ever had a little kid tell you that he wants to be a controller when he grows up? Controllers may not have the exciting or glamorous image of firefighters, doctors or professional athletes. But in the grownup world that most of us live in, a controller’s job is vital to the health of a business or organization.
First, it’s important to realize what a controller is supposed to do. A controller is not just a glorified bookkeeper. They are expected to do much more in their roles.
A good controller should be managing cash flow through budgets and projections, not just reconciling your bank statement. If you are struggling with cash, a strong controller will be able to jump in and help. He or she should also be in charge of identifying expenses that seem out of line when compared to budget/expectations. Because your controller is in charge of your books and sees them every day, he or she is the best person to spot when something is off.
Your controller also should be in charge of presenting management reports to the leadership team. Again, since the controller should be very familiar with the books of the company, he or she should know what metrics best measure the results of the company.
So what traits does a strong controller possess?
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The 2024 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.