Financial control analyst is a professional engaged in overseeing the financial operations of the organization. Financial control analyst responsibilities comprise being accountable for the financial control by having a full control of system reconciliations, supporting the production of high quality analysis, and supporting the deliverables of all the relevant reporting activities. Thus, financial control analyst plays a crucial role in providing the financial status of the organization and is expected to deliver results under tight deadlines.
Key Responsibilities of a Financial Control Analyst
Financial control analyst is closely involved in controlling the financial operations of different business units. He works towards implementing ways to streamline the financial activities that will ensure smooth and efficient operation of the financial department of that organization. An exposure to handling the financial control activities will definitely give an edge. To get more information on what exactly are the key responsibilities that need to be handled by a financial control analyst, here is a detailed description:
He is responsible for validating the financial documents, addressing the weaknesses, and using financial expertise to compile and analyze the trends. He works in collaboration and coordination with various departments to ensure sound financial business controls. He, thus, represents finance in various cross functional sections of the business organization. He studies the impact of the suggested recommendations. He maintains professional relationship and assists in improvising the existing professional networks.
He develops the existing internal controls with best practice and interfaces with the internal as well as external audit to support the controlling functions. He is actively involved in leading the management of different budget activities. He prepares the financial plans, forecasts the trends, discusses it with the management, attends the meetings, and makes relevant presentations. Thus, in short, he is involved in reconciliation, complex analysis, communicating instructions related to resolution of issues, etc., that will assist in the smooth operation of the financial activities.
To be a financial control analyst, you should have excellent analytical skills with a proven experience of working under tight deadlines and delivering high quality results. He should have excellent communication and influential skills with strong understanding of financial analysis and accounting principles. A good business acumen, ability to work independently, self motivated, ability to lead the team and guide on appropriate resolution of issues, and computer proficiency are some of the other essential skills.
A bachelor's degree from an accredited university or college in accounting, finance, or any other relevant field or those who have completed or are pursuing a CPA or CIA designation would also be preferred. Those with relevant working experience will definitely have an added advantage in making an entry in this field.
The daily routine requires a financial control analyst to work for eight to nine hours. He may need to extend his work schedule if there is some emergency work that needs to be completed on the given deadline. He may work late in the evenings or at nights if he is required to attend meetings or make any presentations.
The entry level analysts can get a salary package in the range of $48,000 to 52,000. For experienced financial control analysts, it can go up to the range of $100,000 to $198,000. However, this is a general idea and there can be variance depending on type and size of the organization, its geographical location, etc.
Due to the volatile and ever changing economic conditions, there is a growing trend to employ qualified and experienced financial control analysts who will help in the smoothening of the financial activities of the organization.
Thus, if you are aspiring to establish yourselves in this career, make sure you will be able to handle the financial control analyst responsibilities effectively.