The following article discusses the career path of Assistant controller. Learn about how to become one, education requirements, job duties, traits and qualities, national salary outlook as well as top national employers of Assistant controllers.
Job Duties
Assistant controllers are responsible for the day to day management of accounts. They also usually oversee any internal audits that are conducted. They must understand various financial regulations that must be adhered to. They are also expected to be excellent managers, supervising a team and providing advice to superiors. Furthermore, they must make sure all data held in accounts is accurate and that they have integrity while completing counts. They may need to manage the budget, allocating funds as and where required and reporting on the effectiveness of these activities. Often, they report directly to the Chief Executive or to the Chief Financial Officer.
Other duties of the assistant controller are:
- To help prepare financial statements and reports within their organization
- To edit and review financial statements and determine if these meet the relevant industry standards and business requirements
Where We Work
According to the U.S. Bureau of Labor Statistics, there were 1,397,700 accountants and auditors in 2016. The largest employers of these professionals are:
- Accounting, tax preparation, bookkeeping, and payroll services: 25%
- Government: 8%
- Finance and insurance: 8%
- Management of companies and enterprises: 7%
- Self-employed workers: 7%
How to Become
Any company with a finance department can have an assistant controller. It is generally expected that these professionals have knowledge of their particular industry as well. Additionally, an accounting or finance degree is also required. The role of assistant controller is not an entry level position. Hence, significant and relevant experience is usually also required.
If they have to file reports with the Securities and Exchange Commission (SEC), they must be a Certified Public Accountant (CPA). This means that they have to complete education beyond their bachelor’s degree and pass the CPA exam. Some Assistant Controllers are expected to be a CPA, which is why most have the master’s degree as this enables them to meet and exceed the 150 semester hours of coursework requirement for the certification examination. The CPA examination is offered by the American Institute for Certified Public Accountants (AICPA). CPA certification must be maintained through continuous education.
Assistant controllers usually start their career at an entry level position and then grow into supervisory roles, becoming managers and eventually even partners. Some start as junior internal auditors or cost accountants, for instance, rising through the organization over time. It is also common for them to move between internal auditing and management accounting so that they get more varied experiences.
Education Requirements
A bachelor’s degree is usually the minimum requirement, with a major in accounting, finance, or related field. Those with a master’s degree are usually in higher demand, particularly those with a master in business administration (MBA) with an accountancy concentration.
Aside from the CPA designation, other certifications can also be beneficial for someone working as an assistant controller, including:
– Certified Management Accountant (CMA) offered by the Institute of Management Accountants
– Certified Internal Auditor (CIA) offered by the Institute of Internal Auditors (IIA)
– Certified in Control Self-Assessment (CCSA) offered by the IIA
– Certified Government Auditing Professional (CGAP) offered by the IIA
– Certified Financial Services Auditor (CFSA) offered by the IIA
– Certification in Risk Management Assurance (CRMA) offered by the IIA
– Certified Information Systems Auditor (CISA) offered by ISACA
– CPA Accredited in Business Valuation (ABV) offered by AICPA
– CPA Certified Information Technology Professional (CITP) offered by AICPA
– CPA Personal Financial Specialist (PFS) offered by AICPA
Traits & Qualities
The most effective assistant controllers have the following traits to some degree or other:
– Strong analytical skills
– Excellent communication skills, both verbal and written
– Detail oriented
– Excellent mathematical skills
– Strong organizational skills
Minimum Education
Bachelor’s Degree
The national average salary estimate for Assistant controller was $86,020. This number is estimated from over 1,938,536 employees, users past and present job advertisements from Indeed.com. This equates to an hourly salary of $44.80 and monthly of $7,168.
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$27,000
$176,000
The following section lists Assistant controller salaries in each state around the country. The figures are based on the total number of job postings through Indeed.com. For example, DC had the largest quoted salary of $108,260 while Rhode Island had the smallest quoted salary of $61,831.
According to Indeed.com, the following states had employers looking to hire a Assistant controller. The quoted salary figure represents the average salary from all job postings by this employer.
| Employer Name | Location | Average Salary |
|---|---|---|
| Henderson Harbor Group Assistant Controller | New York | $161,446 |
| $2.5B multi strat hedge fund Assistant Controller | New York | $145,000 |
| Premier Alternative Asset Management Firm Assistant Controller | New York | $145,000 |
| Accounting Placements Direct Assistant Controller | California | $140,196 |
| Advantage Resourcing – New York City Assistant Controller | New York | $140,000 |
| Potomac Partners LLC Assistant Controller | DC | $140,000 |
| Alliance Resource Group Assistant Controller | Texas | $138,873 |
| Liberty Mutual Assistant Controller | Massachusetts | $138,268 |
| Capital Search Group Assistant Controller | Virginia | $137,094 |
| Xplora Search Group Assistant Controller | Pennsylvania | $135,369 |
| $7B credit hedge fund Assistant Controller | New York | $135,000 |
| Kforce Finance and Accounting Assistant Controller | Virginia | $134,723 |
| Vaco Assistant Controller | North Carolina | $134,081 |
| MISSION STAFFING Assistant Controller | Connecticut | $134,010 |
| The Intersect Group Assistant Controller | Georgia | $132,896 |
| Assistant Controller @ $2.5B Hedge Fund Assistant Controller | New York | $132,731 |
| GSP International Assistant Controller | New Jersey | $131,270 |
| 11B PE Fund Assistant Controller | New York | $130,000 |
Learn More
- Assistant Controller | IllinoisJobLink.com
- Assistant Controller | IllinoisJobLink.com
- ASSISTANT CONTROLLER – bart.gov
| Career Name | Average Salary |
|---|---|
| Finance Manager | $88,446 |
| Management Consultant | $88,374 |
| Pricing Manager | $88,102 |
| Systems Engineer | $87,511 |
| Systems Project Manager | $86,680 |
| Information Security Manager | $85,715 |
| Information Systems Manager | $85,684 |
| Supply Chain Manager | $85,591 |
| Gaming Manager | $84,668 |
| Construction Manager | $84,322 |
