An assistant controller is responsible for managing the finances of an organization. Usually reporting to a controller, the assistant controller is part of a supervisory team that oversees an organization's accounting and bookkeeping. Assistant controllers are needed in any large organization that has a significant budget. Jobs for assistant controllers can be found in private industry, as well as in federal, state, and city governments, in hospitals and clinics, and in non-profit organizations.
The central focus of an assistant controller's job is to analyze and track an organization's income and expenditures, as well as ensure compliance with regulations and tax laws. Daily duties for assistant controllers vary by industry, but commonly include financial planning, payroll management, bookkeeping, preparation of financial statements (such as balance sheets and quarterly reports), preparing and submitting tax forms, Securities & Exchange Commission reporting, inventory accounting, and closing journal entries. In smaller organizations, the assistant controller may also be asked to perform data entry.
Generally a minimum of a bachelor's degree in finance or accounting is required for these positions, possibly with a Certified Public Accountant (CPA) license. For certain industries, such as healthcare, employers may also ask for experience with that particular industry. Strong mathematics skills, interpersonal communication skills, and the ability to prepare detailed reports are a must. Familiarity with commonly used financial software is also required.
Assistant controllers generally work during regular business hours in an office setting, although many positions require some travel.
Assistant Controller (Financial) Tasks
- Review and edit statements to align with business requirements and industry standards.
- Assist in the preparation and reporting of financial statements for an organization.