Dark Mode

Bank Controller Job Description – Updated

Bank Controller Job Description – Updated

The position of a Bank Controller is critical for any financial institution seeking to maintain accurate and efficient financial management. Often considered the chief accounting executive, the Bank Controller oversees the entire accounting operations of a bank.

What Does a Bank Controller Do?

The Bank Controller plays a pivotal role in the financial dynamics of a bank. This position is primarily responsible for managing the accounting records, preparing financial reports, and ensuring that reported results comply with generally accepted accounting principles or financial reporting standards.

A Bank Controller also supervises the preparation of periodic financial statements, budgets, and financial forecasts, in addition to ensuring the integrity of the bank’s internal controls over financial reporting. Risk management is a significant part of the role, as the Controller must identify, mitigate, and report financial risks to the bank’s senior management.

Other key duties include:

  • Overseeing tax and regulatory/compliance reporting,
  • Auditing financial transactions and documents,
  • Guiding financial decisions by establishing, monitoring, and enforcing financial policies and procedures,
  • Improving the bank’s financial status by analyzing results and variances, identifying trends, and recommending actions,
  • Contributing to team effort by accomplishing related results as needed.

How to Write a Job Description for a Bank Controller

Writing an effective job description for a Bank Controller requires clarity and an understanding of the role’s essential duties and responsibilities. Start with a compelling summary of the organization and the job position, highlighting the impact the role has on the organization and its importance in achieving the bank’s financial goals.

Here are important elements to include:

  • Job Title: Clearly state the job title as Bank Controller.
  • Job Purpose: Provide a brief about the role’s main purpose and how it contributes to the overall objectives of the bank.
  • Duties and Responsibilities: List all critical roles and daily activities, such as managing accounting records, producing financial statements, and ensuring compliance with statutory law and financial regulations.
  • Skills and Qualifications: Outline the required qualifications, including educational background, professional accounting certification, and proven experience. Also, mention key skills like analytical thinking, leadership, and proficiency in accounting software.
  • Work Environment: Describe the work environment where the Bank Controller will operate, including mentioning who they report to and collaborative interfaces.
  • Employment Type: Specify whether the role is full-time, part-time, or contract basis.
  • Location: Indicate the geographic location of the job and whether remote options are available.
  • Salary Range: Provide an overview of the salary range, benefits, and other forms of compensation to be considered.

Job Description Template Example for a Bank Controller

Job Title: Bank Controller

Job Purpose: Ensures the integrity of accounting information by recording, verifying, consolidating, and entering transactions. Leads financial planning and reporting, maintaining relationships with senior management to make informed economic decisions.

Reporting To: Chief Financial Officer

Duties and Responsibilities:

  • Maintain and enforce a documented system of accounting policies and procedures.
  • Oversee the operations of the accounting department, including the design of an organizational structure adequate for achieving the department’s goals and objectives.
  • Issue timely and complete financial statements for the bank.
  • Coordinate the preparation of the corporate annual report, and recommend benchmarks for measuring the financial and operating performance.
  • Manage outsourced functions and oversee the accounting operations of subsidiary corporations.
  • Monitor and analyze monthly operating results against budget.
  • Oversee financial reporting, the audit process, and taxation compliance.

Skills and Qualifications: CPA required, a minimum of 5 years of accounting experience in a senior role, strong understanding of GAAP, excellent communication, analytical, and management skills.

Work Environment: Work primarily in an office setting, report directly to the CFO, frequent interaction with the board of directors.

Employment Type: Full-time

Location: [Your Location]

Salary: Competitive salary plus benefits

With this updated guide and template, hiring managers and HR departments can craft effective job descriptions to attract highly qualified candidates for the role of a Bank Controller.