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 jobs
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average 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.

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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.
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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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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.
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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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