what is a financial controller?
You lead the finance function or parts of it. In the role, you participate in the budgeting process and support various departments in keeping to their budgets. The role involves close collaboration with colleagues in accounting, finance, tax review, and management. Therefore, it is an advantage to have experience with reporting tools and financial systems. The role means you combine administrative tasks with clear leadership. For example, you may need to lead finance specialists or accounting teams.
Being a financial controller means having great responsibility for the company's financial stability. You need strong accounting skills and the ability to make decisions based on financial analysis. The financial controller role can be found in both the private and public sectors. The tasks are often similar regardless of which industry you work in. The size of the company and how complex its operations are often affect your duties. If you work in a smaller company, you may have broader responsibilities and need to independently handle many tasks. The role requires strong analytical skills, being used to handling large amounts of data, and interpreting financial key figures. You need to be able to collaborate with other departments, communicate with staff who are not economists, and combine data with various improvement proposals. As a financial controller, you participate in the organization's long-term development, where you assess the financial consequences of the company's planning.
what does a financial controller do?
You play a crucial role in the organisation's finance function. As a financial controller, you ensure effective and accurate financial management, reporting, and regulatory compliance. You report results and goal achievement and prepare and present structured analyses. In your work, you may investigate whether a service or product is profitable and whether sales differ between various customer groups and geographic areas. You clarify financial events in the company, their causes, and consequences. In this role, you can provide advice and support to management and ensure that the business has well-functioning financial systems.
financial controller jobsaverage salary as financial controller.
The salary for a financial controller varies depending on industry, experience, level of responsibility, and geographic location. The average monthly salary is 56,600 kr. In Stockholm, salaries are generally higher, with an average of 64,200 kr per month. With more experience, salaries increase, and a senior controller often earns more than the average. The starting salary for a financial controller ranges between 42,000 and 52,000 kr per month.
factors that affect the salary as financial controller.
Your salary as a financial controller is influenced by several different factors. It increases with experience, where senior roles with greater staff responsibility and group reporting receive higher pay. Compensation varies depending on the size of the organization and industry, such as insurance, finance, or technology. Larger industries and companies with higher reporting requirements often offer higher salaries. A financial controller working in the private sector usually earns more than in the public sector. The salary level in Stockholm is higher than in other parts of Sweden. Companies in major cities tend to offer greater compensation as they have higher living costs and more competition for qualified labor.
different roles of financial controller.
A financial controller can have different roles depending on responsibilities and focus. Here are some types that are often found in the profession:
- Junior controller: You have less responsibility and are in a learning phase of your career. In this role, you work with tasks that are closer to accounting and more operational, such as budget follow-up, closing of accounts, and reporting.
- Group controller: Your responsibility is at the group or company level, where you coordinate companies and units, carry out management tasks, and produce more complex reports.
- Head of controlling: In this role, you lead the controlling function and are responsible for quality, processes, and strategies within controlling. you report to the chief financial officer.
working as a financial controller.
As a financial controller, you work closely with the finance and accounting team, where you handle the company's administrative processes and financial management. Your role includes performing reporting and budgeting tasks. You also ensure accurate financial statements and provide decision support to management through forecasts and analyses. Here, we take a closer look at the tasks included in the role, your career opportunities, and what the work environment is usually like.
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work tasks
A financial controller carries a broad responsibility for the organisation's financial management. This includes common tasks such as:
- Revision: As financial controller, you prepare and coordinate documentation for internal and external audits. You follow up on any discrepancies and ensure that internal controls and procedures are functioning. The purpose is to prevent errors. You write final reports that are presented to the board and management.
- Financial reporting: In this role, you are responsible for ensuring that monthly and annual reports are produced accurately and on time. You may also be responsible for the balance sheet, income statement, and cash flow analyses. You follow up on accounts payable and accounts receivable. Liquidity optimization and cash flow forecasts are also common tasks.
- Accounting: You ensure that the company's accounting complies with applicable laws and regulations. This means you are responsible for payment flows, payroll management, bank reconciliations, and ensuring the bookkeeping is accurate. Your area of responsibility may also include leading the accounting team or supporting other financial specialists.
- Budgeting: You participate in long-term financial planning such as forecasting and budgeting. In your role, you produce relevant key figures and analyze deviations. This provides the organization with a basis for decision-making that is used for resource allocation.
- Financial analysis: In addition to reporting, you conduct analyses of cost structures, investments, and business plans. You perform risk assessments, identify opportunities for savings, and propose various measures that strengthen the company's growth and profitability.
- Regulatory compliance: In some organisations, you may be responsible for compliance, which means ensuring that the company follows Swedish laws and regulations. This includes tax and VAT reporting as well as preventing fines and sanctions.
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work environment
Your work environment varies depending on the industry and employer. Financial controllers usually work in office environments within organizations. This can mean you work at a smaller Swedish company or a large international group. The role is typically located in an office in an open-plan environment or a private workspace, depending on the company's structure and size. You work closely with chief financial officers, other controllers, and the accounting team. You spend a lot of time in meetings and coordination. This is more common than direct customer contact. In Sweden, many financial controllers now work remotely, combining office presence with working from home. This can vary depending on the needs of the business and the employer. Tech companies and industrial firms may have a more informal office culture, while the environment at insurance companies and banks is more formal.
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your colleagues
As a financial controller, you have different colleagues depending on the industry you work in, but you almost always collaborate with colleagues in accounting and finance. You can work together with economist, accountants, managers, analyst controllers, business controllers and tax consultants.
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work schedule
As a financial controller, you work full-time during office hours with about 40 working hours per week. During periods of high workload, such as budget work or monthly and quarterly closings, there may be more overtime. Then you may need to work evenings to meet important deadlines. Most people in this profession have full-time employment. Part-time positions can occur in smaller organizations, but it is uncommon. Sometimes there is an opportunity for hybrid work where you combine working at the office with remote work from home. Travel may occur if you work in a large group with several offices. If you work in an international company, travel to subsidiaries abroad may be required.
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future prospects
You usually cannot start working as a financial controller directly after your university degree. In Sweden, several years of experience in finance and accounting are typically required to achieve that role. Common career paths are to first work as an audit assistant, accountant, or business controller. After that, there is an opportunity to advance to a more qualified role in controlling or accounting. With solid experience in financial management, accounting, and reporting, it usually becomes possible to work as a financial controller. You often have simultaneous responsibility for management-related tasks and greater personnel responsibility.
The profession financial controller is usually a valuable and developing career path for those with a background in accounting and finance. Your role can also serve as a stepping stone to other management positions, such as chief financial officer in a group or a company.
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benefits of finding a job as financial controller via randstad.
Finding an available job as financial controller through Randstad can offer several important advantages such as:
- a wide range of opportunities for skills development and learning
- an experienced contact person who provides you with support when needed
- access to a large selection of available jobs in your area
- possibility for full-time and part-time work depending on the assignment
Do you want a full-time job? A temporary position as financial controller is often the first step towards an attractive permanent job. Every year, thousands of people get a permanent job thanks to a temporary position they found through Randstad. Many companies also recruit their permanent employees through us.
education and qualifications as financial controller.
To work as a financial controller, you need both academic education and professional experience.
- Education: A bachelor's degree in accounting, economics, finance, or business administration is usually required. Such an education introduces you to the financial concepts you need to manage a company's finances. A master's degree in economics is an advantage and increases the chances of getting a controller position, especially at the group level or in larger companies.
- Work experience: It is uncommon to start working directly as a financial controller after graduation. a typical career path is to first work as an auditor, financial analyst, or business controller. after several years of work and development in financial management, accounting, and analysis, you can advance to a role as a financial controller.
skills and qualities.
As a financial controller, you need both personal qualities and technical skills to succeed. Some important qualities are:
- IT skills: You need very good knowledge of Microsoft Office, especially Excel. It is advantageous to be able to work with financial systems and databases such as Oracle and Visma. Good IT skills are essential for you to be able to collect, analyze, and process financial information.
- Communication skills: As a financial controller, you need to explain complex financial information to both management and the finance department. The role involves presenting risk assessments and analyses to managers without a financial background.
- Analytical ability: Your work involves a lot of analyzing financial statements as well as preparing budgets, forecasts, and investments. You need to be able to identify risks, draw conclusions, and find the right actions based on the data you produce.
- Cooperation skills: In many organizations, a financial controller is usually responsible for a team of controllers and accountants. Therefore, you need to be able to motivate, lead, and coordinate. Even if you do not have personnel responsibility, you need to be able to work strategically and collaborate with other departments, such as purchasing, HR, and operations managers.
frequently asked questions about working as a financial controller.
Here are the most common questions about working as a financial controller.
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what does a financial controller do?
A financial controller analyzes and compiles financial information, monitors budgets, and creates forecasts and reports. The job role often includes ensuring regulatory compliance and internal control, as well as acting as an advisor to management.
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how much does a financial controller earn in sweden?
Salaries vary depending on industry, level of responsibility, experience, and geographic location. The average salary for controllers in Sweden is about 56,600 kr per month according to Ratsit.
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how do I apply for a job as financial controller?
It's easy to apply for a job as financial controller at Randstad. Start by visiting our careers page and looking through our available positions. When you find a role that suits you, click apply and upload your cover letter along with your CV if you have one. The recruitment process may include a personal interview so we can get to know you better. If you need advice before your application, read our tips here.
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is financial controller a good career choice?
Yes. The profession is considered stable and progressive within finance and economics. You have many opportunities to specialize, for example as a strategic controller or business controller. You can also advance in your career and become a chief financial officer or CFO. The demand for controllers is strong since companies need forecasts and decision-making data to create financial stability.
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