Financial Controller

The position of financial controller, or comptroller, involves managing financial departments of a company. These departments can include the accounting department, budget department, audit department, and any other finance-related departments. Financial controllers have many responsibilities, such as producing critical financial reports, profit and loss statements, balance sheets, and financial prospectuses. They must also prepare reports that predict the financial performance of a company over time. Any paperwork that needs to be done for federal and state regulatory agencies is completed and submitted by the financial controller.

A financial controller should have a good grasp of financial reporting, as well as high-level mathematical and problem solving skills. Because they need to submit and often explain complex financial concepts to executives and people without a financial background, superior communication skills are necessary. Typically financial controllers have a bachelor’s degree in accounting, finance, or business, although it is not uncommon to find someone with a liberal arts background in this role. They also should obtain a license as a certified public accountant, certified financial manager, or certified management accountant. Most companies hiring for this position will look for a master’s degree in business administration or financial accounting, as well as seven to 10 years of progressive accounting experience and previous supervisory experience.

As a Financial Controller in Singapore with 3-6 years of experience, here are following main responsibilities:

• Manage financial reporting, ensuring accurate and timely preparation of financial statements and regulatory filings. Oversee the preparation and submission of financial reports and maintain compliance with local accounting standards.
• Implement and monitor internal controls to safeguard company assets and mitigate risks. Develop and enforce internal control policies to protect company resources and minimize potential risks.
• Conduct financial analysis and provide insights to support decision-making. Analyze financial data, identify trends, and present findings to support strategic planning and business decisions.
• Collaborate with cross-functional teams to support budgeting and forecasting.

For a Financial Controller job role, the following qualifications are required:

• Extensive knowledge of financial management principles and practices, including budgeting, forecasting, and financial analysis.
• Strong proficiency in financial reporting and compliance with regulatory requirements such as GAAP and IFRS.
• Demonstrated experience in overseeing financial operations, including accounts receivable, accounts payable, and general ledger management.
• Excellent leadership and communication skills to collaborate with cross-functional teams, provide financial insights, and drive strategic decision-making.

The role of a Financial Controller in Singapore, with 3-6 years of experience, is crucial in ensuring efficient financial operations. For professionals looking to explore alternative roles, here are following options to consider:

• Senior Accountant: This role entails greater responsibilities such as financial reporting and regulatory compliance.
• Treasury Manager: Focused on managing cash and liquidity requirements, including forecasting, risk management, and investment activities.
• Procurement Manager: Involves managing supplier relationships, negotiating contracts, and overseeing purchasing processes.
• Financial Analyst: Concentrates on monitoring financial performance, developing forecasts, and providing insights for strategic decision-making.

The role of Financial Controller in Singapore has shown steady growth over the past 10 years, in line with the expanding finance sector in the region. With a strong emphasis on financial compliance and reporting, this position has become increasingly crucial for businesses. The demand for skilled Financial Controllers is expected to continue growing in the foreseeable future, driven by the increasing complexity of financial regulations and the growing need for financial transparency. This is further supported by the significant number of employment opportunities expected to be available, as organizations prioritize effective financial management and compliance to navigate the evolving business landscape.