Prepare for your Financial Controller interview. Understand the required skills and qualifications, anticipate the questions you may be asked, and study well-prepared answers using our sample responses.
Financial controllers need to be able to work with large amounts of data. Employers ask this question to make sure you have the skills and experience necessary for the job. In your answer, explain how you have worked with large data sets in the past. Share an example of a time when you used those skills to help your company or organization.
Answer Example: "I am very comfortable working with large amounts of data. During my time as a financial controller at my previous job, I was responsible for managing all financial transactions for the company. This included recording all incoming and outgoing payments, as well as tracking inventory levels and sales figures. I used software programs like Excel and QuickBooks to organize and analyze all of this information."
This question can help the interviewer understand your experience with accounting certifications and licenses. If you have any certifications or licenses, share them with the interviewer and explain how they helped you gain expertise in financial accounting.
Answer Example: "I have both my Certified Public Accountant (CPA) and Certified Financial Analyst (CFA) credentials. I earned my CPA after passing the exam in my state, which required me to complete several years of work experience and education in accounting. To obtain my CFA, I had to pass three exams related to financial analysis and management. These certifications have helped me gain more experience in the field of financial accounting."
This question can help interviewers understand how you would handle a challenging situation. Use examples from past experiences where you had to resolve conflict between two groups of people or between data and management’s statements.
Answer Example: "In my last role, I noticed discrepancies between the company’s revenue reports and sales figures. I brought this up with my manager, who told me he would look into it. A few days later, he told me that the reports were correct and that there was no reason to worry. I continued to monitor the situation, however, and noticed that the numbers continued to differ. Eventually, we discovered that there was an error in the system that was causing the discrepancy."
The interviewer may ask you this question to assess your ability to identify and manage financial risk in a company. Use examples from past experiences where you identified risks in a company’s finances and how you worked to mitigate those risks.
Answer Example: "I start by reviewing the company’s current financial situation, including its revenue streams, expenses and assets. Then I compare this information to previous periods to identify any changes or trends that could affect future finances. If there are any red flags, I work with other members of the team to develop strategies for addressing these issues. For example, when I was working as a controller for a small startup, I noticed that our revenue was decreasing while our expenses remained the same. I spoke with the CEO about our options, and we decided to cut back on some expenses until we saw an increase in revenue."
This question can help the interviewer understand how you interact with others and whether you are willing to challenge others’ opinions. Your answer should show that you are confident in your abilities and willing to speak up when necessary.
Answer Example: "In my last position as financial controller for a small business, I noticed that our sales figures were declining despite our efforts to increase marketing efforts. After researching the problem, I discovered that our accounting department had made a mistake in calculating sales figures for the past quarter. The CEO was eager to know why sales were down, so I explained my findings and recommended we issue a recall on all products from the previous quarter until we could correct the error. The CEO agreed with my recommendation and issued the recall immediately."
This question can help interviewers understand how you would handle a conflict situation. Use your answer to highlight your problem-solving skills and ability to work with others.
Answer Example: "If I discovered that a department was overspending, my first step would be to meet with the department head to discuss the issue. I would explain the reasons why this is happening and what we can do to fix it. I would also make sure to give them plenty of time to respond and provide their input on the matter. After our meeting, I would create an action plan for the department that includes ways to reduce spending while still meeting company goals."
This question can help the interviewer assess your ability to detect and resolve financial issues. Your answer should include steps you would take to investigate the discrepancy, including who you would contact for help and what resources you would use to solve the problem.
Answer Example: "If I noticed a discrepancy in the company’s finances, my first step would be to determine whether it was an error or a deliberate action. If it was an error, I would work with my team to correct it as quickly as possible so we could get back to accurate reporting. If it was a deliberate action, however, I would investigate why someone would make such a decision and determine whether it was an honest mistake or an intentional act of fraud. In either case, I would take steps to correct the issue as quickly as possible while also taking steps to prevent it from happening again in the future."
The interviewer may ask this question to see if you have experience working in their state. They want to know if you have any knowledge of the local taxation laws and how they apply to financial reporting. Use your answer to highlight any experience you have working with taxation laws in this state.
Answer Example: "I have extensive experience working with taxation laws in this state. I have worked as a Financial Controller for several companies in this state, and I am familiar with all of the tax regulations. I understand the different tax rates for different types of businesses, as well as the different deductions that are available. I also know how to properly record taxable income and expenses for accounting purposes."
This question can help the interviewer determine your experience with financial reporting and how you might handle shareholder meetings. Use examples from past projects to explain what steps you take when preparing reports for shareholders, including any specific challenges you’ve faced in this role.
Answer Example: "In my previous role as financial controller for a small company, I prepared quarterly reports for our shareholders every three months. These reports included detailed information about our revenue, expenses and profits for each quarter. To ensure accuracy, I always double-checked all numbers before sending the reports out."
This question can help the interviewer understand your thought process and how you apply your knowledge of financial projections. Your answer should show that you understand the importance of considering all factors when creating financial projections, including revenue, expenses, cash flow and capital expenditures.
Answer Example: "I consider several factors when performing financial projections, including revenue, expense and cash flow projections. I also take into account any capital expenditures that may be required in order to grow the business. Finally, I make sure to look at any past data that may help me predict future performance. This helps me create an accurate picture of the company’s financial future."
This question is an opportunity to show your ability to improve the company’s financial health. You can answer this question by explaining how you would implement certain strategies that improve cash flow, such as delaying payment or increasing credit limits.
Answer Example: "I would implement a payment delay policy for vendors who are late on their payments. This allows me to ensure that we pay our bills on time while still giving our vendors some leeway if they need it. I would also look into increasing our credit limit with our suppliers so we can take advantage of lower prices. Finally, I would review our accounts payable system to ensure we are only paying vendors after they have delivered their products."
This question can help the interviewer determine your experience level with using financial software. Use examples from past jobs to show how you’ve used different types of financial software, such as Microsoft Excel or Oracle Financials.
Answer Example: "In my last role as a financial controller for a small business, I used Microsoft Excel to create monthly budget reports for the CEO and board of directors. These reports included detailed information about revenue and expenses, as well as projections for future growth. I also used Oracle Financials to manage the company’s accounting transactions and track cash flow."
Employers ask this question to learn more about your background and how it relates to their company. Before your interview, research the company’s values and mission statement. Try to find examples where your experience aligns with their goals.
Answer Example: "I am passionate about helping businesses grow and succeed. I’ve worked with several companies throughout my career, and I’ve seen firsthand the challenges of financial management. I always try to find ways to improve processes and increase profitability. At my last job, we were able to increase sales by 10% within six months by implementing new strategies."
This question is a great way to show your interviewer that you are eager to learn new things and develop your skills as a financial controller. It also shows them that you have a plan for how you would like to grow in your career. When answering this question, it can be helpful to think about what areas of finance you are most interested in or what skills you would like to develop further.
Answer Example: "I am currently working on developing my accounting skills, but I also want to focus more on marketing and sales. I find these areas of business interesting and think they could help me become a better financial controller. I’m eager to learn more about how marketing strategies and sales tactics affect a company’s bottom line."
This question can help the interviewer determine your priorities and how you might approach your work. Your answer should show that you value accuracy, efficiency and attention to detail.
Answer Example: "I believe the most important aspect of financial controller work is accuracy. Financial controllers are responsible for maintaining the company’s records, so I take great care in making sure that all of my numbers are correct. I also make sure that my reports are accurate and timely so that managers and executives can make informed decisions."
Audits are an important part of the financial controller’s job. The interviewer may ask this question to learn more about your experience with auditing and how often you perform them. Use your answer to highlight your knowledge of auditing processes, including which types of audits you typically perform and any specific tools or software you use to complete these tasks.
Answer Example: "I perform audits on a regular basis, usually once per month. I find that this frequency allows me to catch any discrepancies or issues before they become too large or costly to fix. In my previous role, I also performed quarterly tax audits, which require more in-depth analysis of financial records. These audits helped me ensure that our company was in compliance with all federal and state tax laws."
This question is a great way to test your ability to learn new information and apply it to your job. It also shows the interviewer that you are willing to learn more about the company’s financial processes and procedures.
Answer Example: "I would first read through the law itself to get an understanding of what it means for our company. Then, I would look up articles and resources online that explain the changes in more detail. I would also ask my colleagues who have more experience with these types of laws for advice on how to implement them."
The interviewer may ask this question to assess your attention to detail and your ability to ensure that financial records are accurate and complete. Use examples from past experiences where you took steps to ensure that financial records were accurate and complete, including how you identified any errors or missing information and resolved them.
Answer Example: "I take several steps to ensure accuracy and completeness of financial records. First, I review all documents for accuracy before entering them into the accounting software. Second, I regularly check for any discrepancies or missing information in the system. Finally, I train employees on how to enter data correctly so they understand the importance of accuracy."
This question can help the interviewer understand how you approach financial management and budgeting. Your answer should show that you are willing to make tough decisions and are aware of the implications of cutting costs.
Answer Example: "I would first look at where we are spending our money and see if there are any areas where we can reduce spending. For example, I may find that we are spending too much on office supplies or travel expenses. I would then create a plan for how we can reduce these costs without affecting the quality of our work."
This question can help the interviewer determine your experience with financial modeling tools. You can describe your experience with these tools, including which ones you’ve used and how they’ve helped you with your work.
Answer Example: "I’ve used Microsoft Excel for financial modeling for many years. I’m comfortable creating spreadsheets that include basic calculations, graphs and charts. I also use other financial modeling tools like SAP Business One and Oracle Financials. These tools allow me to create more complex financial models with multiple accounts and calculations."