Assistant Financial Controller
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What does an Assistant Controller do?
Depending upon the entity’s size, the Assistant Controller can provide a variety of duties and responsibilities. Some of these include:
- Supervises A/R, A/P, P/R personnel and transactions
- Responsible for overseeing accounting procedures, internal controls (implementing, monitoring, enhancing), and database management
- Randomly audits work flow to assure that all accounting transactions are appropriately authorized
- Substantiates and justified expenditures and expense reports
- Supervises or prepares monthly journal entries
- Prepares financial statements
- Supervises or prepares general ledger reconciliations
- Assures internal control compliance
- May train staff on internal control procedures; assists Controller as needed
- Reviews monthly closing process
- Works on special projects, if requested; assist with yearly audit preparation. If involved in the financial field, Assistant Controllers will oversee the reporting and integrity of accounting for invested assets in bonds, mortgage loans, equities, limited partnerships and derivatives.
Assistant Controllers must also have knowledge of GAAP, IRC, FASB, accrual base accounting, organizational auditing, fixed asset accounting, and tax filing requirements. They need to keep abreast of current industry events. They must have strong supervisory and analytical skills. Assistant Controllers must also a wide knowledge base of different software systems, and have strong computer usage experience.
Assistant Controller usually reports to the Controller. Salary varies according to firm size, geographical region, and individual position responsibilities. The positions requires 4-5 years experience, on average. It requires a Bachelor’s degree in either finance or accounting.