Hiring a Financial Controller: Step-by-Step Guide for Business Owners

Most times, if your day-to-day is limited to scraping by on a few clients, running lean, or just keeping up with your daily balances, you don’t immediately need a financial controller.

But as soon as the money starts moving (which of course includes multiple vendors, payrolls,taxes, recurring revenue, or attracting investors), you need somebody who can do it for you… professionally.

Not just an accountant. A financial controller.

And this guide, in particular, is something that every founder requires. 

Why Does Your Business Require a Financial Controller?

Hiring a financial controller means that there’s a professional who works for your business to ensure your books are balanced. 

This expert ensures your business not only has a robust financial accounting system, but it also means that you have high-level strategies that shield your company from preventable financial risks. 

• A financial controller builds and maintains a reporting rhythm—monthly, quarterly, and annually—so your team isn’t scrambling for numbers when it’s time to make decisions.
• They enforce internal controls that will keep fraud, errors, and regulatory noncompliance from disrupting your operations.
• They also create personalized budgets and forecasts for your business.

It doesn’t matter whether you hire or outsource financial controller services; you need a professional who’s going to tell you when your runway is shorter than you think, when your margins aren’t as strong as they appear, and when your financial systems are holding you back. 

In fact, companies with financial controllers in a 5-year revenue trajectory on average see accelerated growth due to better financial decisions, tighter controls, and reduced errors as opposed to companies that don’t have one. In contrast, the other grows slowly, hindered by inefficiencies and missed opportunities.

Why Hiring the Right Financial Controller Matters?

Your business’s financial health determines its trajectory. If your numbers aren’t accurate, your decisions aren’t informed—they’re guesses. Guessing is fine when testing a marketing channel, but it’s reckless when managing significant revenue or preparing for a fundraising round. The cost of a bad hire goes far beyond salary; it includes lost productivity, recruiting expenses, and a negative impact on team morale.

Hiring the right controller means you are getting an accurate picture of your finances, staying compliant, and spotting inefficiencies when they’re still cheap to fix. You're not just hiring an accountant; you are hiring a strategic "enabler" who reduces friction and partners with other departments to drive growth, not just an "enforcer" who says no.

Should You Hire Full-Time, Part-Time, or Outsource a Financial Controller?

Every company is different and has specific requirements.

Not every company needs a full-time controller from day one. If your revenue is modest and your financial needs are straightforward, a part-time or fractional controller might be enough. 

This setup gives you access to experienced talent without committing to a full-time salary. 

However, as soon as your operations become complex—multi-entity structures, recurring revenue models, international transactions—you’ll need someone fully embedded in the business. That’s when a full-time hire makes sense.

One of the best options is to outsource financial controller services.

An outsourced controller gives you the firepower of a seasoned finance professional, with the flexibility and cost-efficiency of a contract model. This is especially valuable for startups and scale-ups that need real financial leadership but can’t justify a full-time role yet. 

Key Skills to Look for in a Financial Controller

When evaluating candidates, look for a combination of formal qualifications, technical expertise, and strategic thinking.

• Essential Qualifications: A bachelor's degree in accounting or finance is the standard. Look for candidates with recognized credentials like a CPA (Certified Public Accountant) or CMA (Certified Management Accountant), as these signal deep professional commitment.
• Must-Have Hard Skills:
  
  • Deep expertise in accounting principles (GAAP or IFRS) is non-negotiable.
  • Proficiency with modern financial systems and ERPs like NetSuite, QuickBooks, SAP, or Oracle is crucial.
  • Strong financial modeling and advanced Excel skills are fundamental requirements.
  • Experience with data visualization tools like Tableau or Power BI is a significant plus.
• Crucial Soft Skills: A great controller needs leadership skills to manage the accounting team and clear communication skills to explain financial information to non-financial stakeholders. They must also have strong analytical, problem-solving, and unimpeachable integrity.
• The Importance of Industry-Specific Experience: Seek candidates with 5-10 years of experience in complex financial environments, ideally in companies that mirror yours in size, speed, or industry. They will understand the unique challenges and regulations you face.

How to Create the Right Job Description For a Financial Controller?

Writing a great job description is about clarity and specificity. Define the scope of the role—what they’ll own, what systems they’ll use, and what success looks like. 

Be upfront about your company’s size, growth stage, and culture. If your books are messy, say so. The right candidate will be energized by the challenge, but they need to know what they’re walking into. 

To attract a wider, more diverse talent pool, use clear, objective language and avoid jargon or subjective superlatives like "expert" or "superior". Instead of asking for "fluency," ask for "experience with" a specific system.

The Cost of Hiring a Financial Controller

Determining the right compensation is a critical step in attracting top-tier talent. While salaries can vary widely, understanding the market rate is the first step in creating a competitive offer.

According to recent data from Indeed compiled from over 3,300 job postings, the average base salary for a Financial Controller in the United States is $107,433 per year. However, this figure is just a baseline. The typical salary range for this role is quite broad, generally falling between $71,622 on the low end and $161,148 on the high end.

(Source: Indeed)

This wide range is influenced by several key factors:

• Geographic Location: Salaries are significantly higher in major metropolitan areas with a higher cost of living. For example, while the national average hovers around $107k, the average salary for a controller in New York, NY is approximately $139,220 per year, and in Decatur, GA, it can be as high as $158,229 per year.
• Experience and Role Complexity: The salary will depend on the candidate's years of experience and the specific demands of the job. A posting for a Financial Controller in Cleveland, OH, might offer a range of $75,000 - $85,000, whereas a more senior "VP Finance / Controller" role in Little Rock, AR, could command $100,000 - $120,000 a year.
• Full-Time vs. Part-Time: For businesses that aren't ready for a full-time hire, a part-time or fractional controller offers a more flexible cost structure. These roles are often paid on an hourly basis, such as the $25 - $30 an hourseen in a part-time posting in Marietta, GA.

To set a competitive salary, use these figures as a starting point. Consult multiple sources, including Indeed, Glassdoor, and specialized industry reports like the Robert Half Salary Guide, and filter your research by your specific geographic location, company size, and industry. Remember that top talent weighs the entire compensation package, including healthcare, work-life balance, and opportunities for professional development.

Financial Controller: Interview Questions

A structured interview, where every candidate is asked the same set of questions, is a better predictor of job performance and reduces bias. Here are targeted questions to help you evaluate candidates thoroughly.

To Assess Technical Skills

• "Walk me through your month-end close process. What are the key steps you own, and what are your typical timelines?"
• "Explain how a recent change in accounting standards (like ASC 606 for revenue recognition) impacts a company's financial statements."
• "How do you approach building a company's annual budget? What departments do you involve and how do you handle variance analysis?"
• "Describe your experience with designing and implementing internal controls. Can you give an example of a control you put in place to reduce financial risk?"
• "What is your strategy for managing cash flow in a high-growth or seasonal business?"

To Evaluate Problem-Solving and Process Improvement

• "Describe the most complex cleanup job you've handled. What was broken, what did you fix first, and how did you prioritize?"
• "Tell me about a time you introduced a new process or technology to improve financial efficiency. What was the result, and how did you manage the team's adoption of it?"
• "Imagine you are asked to create a forecast with incomplete or unreliable historical data. How would you approach this task?"

To Test for Integrity and Ethical Judgment

• "Describe a situation where a senior manager asked you to present financials in a way you were uncomfortable with. How did you handle it?"
• "Imagine you discovered a significant accounting error made in a previous financial period by a colleague. What steps would you take?"

To Assess Strategic Thinking and Leadership

• "Beyond just reporting the numbers, how do you see the finance function acting as a strategic partner to other departments like sales, marketing, and operations?"
• "How do you communicate complex financial information to team members or stakeholders who don't have a finance background?"
• "Describe your leadership style. How do you motivate your team, especially during high-pressure periods like year-end closing?"

To Understand Their Approach and Fit

• "Based on what you know about our company, what would be your top priorities in your first 90 days in this role?"
• "What financial software and technology stacks have you enjoyed working with the most, and why? What are you excited to learn next?"
• "What do you look for in a direct manager and the overall company culture to feel supported and do your best work?"

Some Red Flags During the Financial Controller  Interview Process

Identifying the right candidate is as much about spotting warning signs as it is about recognizing strengths. A structured interview process helps, but hiring managers should be alert for these red flags.

Vague Answers or a Lack of Specifics 

A strong candidate can speak with specifics about their accomplishments and experiences. Structured interviews often use behavioral questions like, "Tell me about a time when..." to elicit this information. If a candidate's answers about past projects are generic ("I helped improve efficiency") without detailing what they did, how they did it, and what the result was, it may signal a lack of deep, hands-on experience.

A Pure "Enforcer" Mindset 

The modern finance role has shifted from a rigid "enforcer" to a strategic "enabler". A significant red flag is a candidate who speaks exclusively in terms of policing expenses and saying "no." While controls are vital, a top candidate will also talk about partnership, reducing friction for other departments, and using financial data to help the entire business succeed.

Lack of Industry-Specific Curiosity 

While a controller doesn't need to be an expert in your industry from day one, they should demonstrate curiosity and an ability to understand its specific financial nuances. If they don't ask thoughtful questions about your business model, revenue streams, or key metrics, they may struggle to become the strategic partner you need.

Focus on Titles, Not Impact 

Be wary of candidates who seem more interested in the title than the work itself. Top talent is often motivated by the challenge of building systems, solving complex problems, and having a tangible impact. A candidate who is excited by your company's messy books and sees it as an opportunity to create value is often a better fit than one who is simply looking for the next rung on the career ladder.

Inconsistent Job History 

Frequent, short-term stays at multiple companies can be a warning sign. It is important to probe for the reasons behind these transitions. While sometimes there are legitimate reasons, a pattern of short tenures could indicate an inability to integrate into a team or handle challenging environments.

No Proactive Plan for Getting Started 

When asked about their approach to the first 90 days, a strong candidate should be able to articulate a proactive plan. They should talk about meeting with stakeholders, assessing the current people, processes, and technology, and identifying quick wins. A passive answer like, "I would wait to see what you need me to do," is a major red flag indicating a lack of initiative.

Poor Interpersonal or Teamwork Cues 

A controller must collaborate with every department. Listen for how candidates talk about former colleagues and managers. Consistently blaming others for failures or speaking negatively about past teams can be an indicator of a "toxic" personality that could disrupt your company culture.

A Final Note for the Interviewer: Beware Your Own Bias 

Perhaps the most important red flag to watch for is in yourself. Research shows that making decisions based on "gut feel" or "affinity bias"—the tendency to favor people who are similar to you—can lead to poor hiring outcomes. Stick to your structured questions and evaluate all candidates on the same objective criteria to ensure you select the best person for the job, not just the person you like the most.

What to Expect in the First 90 Days?

A strong controller should deliver wins quickly by following a structured 30-60-90 day plan. Onboarding is a critical phase that ensures your new hire integrates effectively and becomes productive. This period is not just about learning the ropes; it’s about establishing credibility and demonstrating strategic value.

Days 1-30: Listen, Learn, and Assess

The first month is for total immersion and diagnosis. The motto should be to "listen a lot more than you talk". Your new hire should not be making drastic changes yet; instead, they should be focused on understanding the business from the ground up.

Key Goal: To absorb information and see the company with "fresh eyes," identifying issues that long-time employees might overlook.

Actionable Steps

• Meet with Stakeholders: The controller should schedule meetings with the CEO to understand the strategic vision, with their direct reports on the finance team, and crucially, with the heads of every other department. This helps them understand how the business creates value and what other teams need from finance.
• Conduct a Financial Deep Dive: This goes beyond reviewing high-level reports. A great controller will analyze several years of financial statements and KPIs to assess financial health. A highly effective technique is to review past bank statements line-by-line to truly understand how the company operates and spends money.
• Assess the Three Pillars: They should conduct a thorough audit of the existing finance function, focusing on People (the skills and structure of the team), Processes (workflows for accounts payable, close, etc.), and Technology (the current software stack and its limitations).

Days 31-60: Prioritize, Strategize, and Find Quick Wins

The focus now shifts from diagnosis to planning. Using the insights gathered in the first 30 days, the controller begins to formulate a plan and build momentum.

Key Goal: To develop a strategic blueprint for the finance function and demonstrate immediate value to build credibility.

Actionable Steps

• Develop a Blueprint: Based on the initial assessment, the controller should create a formal roadmap that identifies strengths, weaknesses, and opportunities for improvement in the finance function.
• Identify and Execute on "Quick Wins": To build trust and show results, the controller should identify a few low-effort, high-impact projects. This could be as simple as automating a manual report, cleaning up the chart of accounts, or renegotiating a vendor contract to save money.
• Become a Strategic Partner: The controller should proactively ask other department heads, "How can Finance be a better strategic partner to you?". This marks the transition from simply fixing problems to actively enabling other parts of the business.

Days 61-90: Implement, Communicate, and Drive Value

This final phase is about putting the strategic plan into action and establishing the finance function as a forward-looking, value-added partner.

Key Goal: To begin implementing the strategic plan, establishing scalable processes, and communicating a clear vision for the finance team.

Actionable Steps

• Begin Implementation: The controller starts rolling out the larger initiatives from their blueprint, such as redesigning the budgeting process or beginning a system migration.
• Focus on Scalability: All new processes should be designed with the future in mind. The controller should be asking, "Will this process work if we have 10 times the transaction volume?".
• Communicate the Vision: They must clearly communicate their long-term plan to the executive team and their own department, establishing finance as a function that drives strategic growth, not just a cost center that reports on the past.

Hiring The Right Financial Controller?

Getting a promising candidate or agency onboard for your controller services is imperative for a business that wants to have robust financial health. Whether you’re preparing for funding, dealing with growing complexity, or simply tired of flying blind, the right controller will bring discipline, structure, and visibility to your financial operations.

But this hire only works if you approach it with precision. Be clear on what you need: strategic oversight, operational clean-up, or both. Don’t settle for someone who’s merely good at accounting—look for someone who can build systems, think critically, and scale with your business.

To empower your new controller from day one, give them the tools to achieve their strategic goals, not just get buried in tedious tasks. One of their first challenges will be to gain control over company spending and fix inefficient processes—and that’s where Fyle can be their first "quick win."

Instead of waiting for month-end statements, your controller can get instant visibility into company spend with Fyle's real-time credit card feeds. This connects directly to credit card networks to give you real-time notifications for all credit card transactions. 

They can also streamline the entire reconciliation process by integrating directly with your accounting software, be it NetSuite, QuickBooks, or Xero.

By automating receipt collection via text message and email, Fyle frees your controller from chasing paperwork, allowing them to focus on what you hired them for: providing strategic insights and driving the business forward.