What does a financial controller do?

When businesses start out, financial management is simple - tracking income, paying bills, and filing tax returns. But as a company grows, financial complexity increases, and business owners need greater financial visibility and control.

A Financial Controller (FC) is key to managing financial health, ensuring compliance, overseeing reporting, and supporting business strategy. They bridge the gap between daily finance operations and high-level decision-making, often reporting to the Finance Director (FD) or Chief Financial Officer (CFO).

Key responsibilities of a Financial Controller

1. Financial reporting & compliance

A Financial Controller ensures financial records are accurate, up to date, and compliant with accounting standards and legislation by:

✅ Preparing and reviewing monthly management accounts and financial statements
✅ Ensuring all transactions are recorded correctly and meet regulatory standards
✅ Overseeing audit and assurance engagements, liaising with external auditors
✅ Managing corporate and group financial reporting

2. Cash flow & working capital management

Cash flow is the lifeblood of a business, and a Financial Controller keeps it running smoothly by:

✅ Monitoring and forecasting cash inflows and outflows
✅ Identifying and mitigating cash flow risks
✅ Managing debt, collections, and financing options

3. Budgeting, forecasting & financial planning

A Financial Controller ensures financial planning aligns with business goals by:

✅ Coordinating budgets and financial forecasts
✅ Reporting variances and adjusting strategies accordingly
✅ Analysing performance and providing strategic insights

4. Process improvement & automation

Efficiency is key. A Financial Controller:

✅ Introduces automation and technology to streamline finance operations
✅ Improves financial systems and internal controls
✅ Ensures financial data is accessible, accurate, and insightful

5. Governance, risk & internal control

A Financial Controller strengthens financial governance by:

✅ Evaluating internal structures to protect stakeholders
✅ Implementing risk management strategies
✅ Ensuring corporate governance compliance

6. Business strategy & decision support

Beyond finance operations, a Financial Controller plays a strategic role by:

✅ Supporting business growth and investment decisions
✅ Advising on cost control and profitability improvements
✅ Providing financial credibility for funding and investment

What skills does a Financial Controller need?

✔ Analytical problem-solving – to interpret financial data and drive decisions
✔ Leadership & management – to guide finance teams and implement processes
✔ Commercial awareness – to align finance with business strategy
✔ Attention to detail – ensuring financial accuracy and compliance
✔ Technical expertise – strong knowledge of accounting, reporting, and finance software

Do you need a Financial Controller?

If your business is growing, struggling with cash flow, or lacks financial visibility, a Financial Controller can be a game-changer. But hiring in-house isn’t always necessary - especially for small to mid-sized businesses.

🚀 That’s where outsourcing comes in. Instead of the cost and commitment of a full-time hire, you get the same expertise and financial control through an outsourced Finance Function - with added flexibility and cost savings.
📩 Want to explore an outsourced Finance Function? Let’s chat - schedule a discovery call today!

Expert Insight: Geoff Allen, Head of Business Operations

"Many businesses reach a point where financial management becomes too complex for a bookkeeper but doesn’t yet justify a full-time hire. That’s where an outsourced Financial Controller makes all the difference - providing expert insights, cash flow management, and reporting without the overheads of recruitment and salaries."