A Business Controller is a professional who plays a vital role in the financial management and decision-making process of an organization. They are responsible for analyzing financial data, providing insights and recommendations, and ensuring the financial health and stability of the business. In this blog post, we will delve into the primary responsibilities and the most in-demand hard and soft skills for Business Controllers.

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Main Responsibilities of a Business Controller

The following list describes the typical responsibilities of a Business Controller:

Analyze

• Analyze gross margin and discount levels, and reports any deviation with Brands targets.

• Analyze and advise management on financial matters and impact.

• Analyze and Simulate Scope and Forex translation impacts on key financials.

• Analyze du Best Estimate versus Budget.

• Analyze market trends and competitive landscapes to identify business opportunities and risks.

• Analyze the business risks and make sure they are covered in an appropriate way in the balance sheet.

• Analyze transverse par famille produits.

• Analyze variances between actual and budgeted financial performance.

Animate

Animate the FP&A process of the zone.

Approve

Approve and sign cheques and electronic fund transfers on a weekly basis.

Assess

Assess the financial viability of potential projects and investments.

Assist in

• Assist in the development of strategic business plans and financial targets.

• Assist in the preparation of capital budgets for the business units.

• Assist the brand with any specific analysis required from time to time.

• Assist with budget and forecast process.

Calculate

Calculate boutiques commission.

Collaborate with

• Collaborate with Finance team on Accounts Payable, Accounts Receivable and General Accounting.

• Collaborate with other departments to align financial goals and objectives with overall business strategies.

• Collaborate with the finance team to streamline financial processes and improve efficiency.

Collect

Collect, compile, verify and analyze financial information and economic indicators.

Communicate

• Communicate changes to WBU.

• Communicate Company figures / analysis on ad hoc requests.

• Communicate figures and the analyses for Financial Communication to publish Company results.

Conduct

• Conduct accurate Intercompany Accounting with other Gucci entities.

• Conduct budgeting and forecasting activities to support financial planning and decision-making.

• Conduct financial analysis to identify areas for improvement and cost-saving opportunities.

• Conduct financial due diligence for mergers, acquisitions, and partnerships.

• Conduct financial research and analysis for special projects or initiatives.

Contribute to

• Contribute to country Finance team to enhance performance.

• Contribute to the development of a financial / internal control culture within the Brand.

• Contribute to the month-end Revenue, P& L and Cash Flow closings.

Cooperate with

Cooperate with HR for Headcount and Payroll reporting and Forecast.

Coordinate

• Coordinate and oversee the annual budgeting process.

• Coordinate the modifications with administrators, carry out users tests.

Define

Define the evolutions / simplification of Magnitude submissions by CBU and WBU.

Design

Design the technical solution and understand data integration and interfaces.

Develop

• Develop ad hoc scenarios and business cases with multiple variables.

• Develop and implement annual budget for major projects, in line with global budgeting guidelines.

• Develop and implement annual budgets in line with global budgeting guidelines.

• Develop and implement annual unit budgets in line with global budgeting guidelines.

• Develop and maintain financial policies and procedures.

• Develop and prepares project budget and contract changes budget.

• Develop and Support the Business Strategy including the Communications strategy.

• Develop financial models and scenarios for business planning and investment analysis.

• Develop financial plan and oversee financial budgeting for the departments or Line of Business.

Drive

• Drive the financial analysis, planning and management reporting for Calabrio International.

• Drive the follow-through of issues and good attention to detail.

Enhance

Enhance the financial processes for profitability and revenue growth.

Ensure

• Ensure accuracy and consistency of consolidated figures.

• Ensure Company Bridge on Histo Data and bridge with Forex and Scope rules.

• Ensure Company's month-end and Forecast process.

• Ensure compliance with applicable commercial statutes of the country.

• Ensure compliance with financial regulations and internal policies.

• Ensure correct and timely completion of Group Management Reporting.

• Ensure General Ledger operations are performed and reviewed on a timely basis.

• Ensure inventory is correctly costed & receipted in the Movex as per LGI invoice.

• Ensure monitoring and overall quality of the KPIs for the different activities.

• Ensure on-time compliance with all tax & government filing as applicable.

• Ensure reliability of Histo to Histo Bridge with scope and forex effects.

• Ensure state and federal returns and tax related matters for company are addressed on a timely basis.

• Ensure the maintenance of Dashboards.

Evaluate

Evaluate and negotiate contracts and agreements to ensure favorable financial terms.

Execute

Execute business controlling tasks as defined in KONE Financial Control Models.

Follow-up

Follow-up main brand costs (communication, selling costs).

Help

Help minimize task risks associated with international transactions and other business dealings.

Highlight

Highlight any potential project cost impact and recommend corrective actions.

Identify

Identify and mitigate financial risks through effective risk management strategies.

Implement

• Implement and maintain internal financial controls and procedures.

• Implement and monitor internal controls to safeguard company assets.

Inspect

Inspect and approve all vendor contracts and account expenses of the company.

Lead

• Lead monthly closing and related reconciliation and financial reporting activities.

• Lead the preparation and coordination of the audit process.

Liaise with

Liaise with internal and external auditors and government authorities on auditing.

Maintain

Maintain strong connections with other Finance colleagues within KONE to share best practices.

Manage

• Manage general ledger and accounts payable functions for an approx.

• Manage the budgeting process and the monthly reforecasts.

• Manage the day-to-day business controlling activities of the Unit.

Mentor

Mentor and train junior finance staff members.

Monitor

• Monitor and analyze industry benchmarks and key financial metrics.

• Monitor and control costs to optimize financial resources.

• Monitor and evaluate financial performance and key performance indicators (KPIs).

Oversee

Oversee Payroll, Account Payable and Accounts Receivable functions.

Participate in

• Participate in the continuous improvement of processes and financial tools.

• Participate in the development and implementation of financial systems and processes.

• Participate to Monthly / Quarterly financial closing,.

• Participate to the monthly financial closing,.

Perform

• Perform Company result analysis to various stakeholders.

• Perform financial analyses producing KPI's and reports to monitor and measure the activity.

• Perform full charge accounting function for project.

• Perform or organize the execution of the business controlling tasks as defined in KONE FCM.

• Perform or organize the execution of the business controlling tasks for major projects.

• Perform reconciliation analysis on all project specific G / L accounts.

• Perform special project assignments as requested.

• Perform the business controlling for Marine globally.

Prepare

• Prepare and analyze financial reports, including income statements, balance sheets, and cash flow statements.

• Prepare and present financial reports to the board of directors and executive management.

• Prepare billing and monitor invoice control of the project.

• Prepare financial presentations and reports for stakeholders and senior management.

• Prepare LFL conversion rate update of the Company with the Treasury and validates with VPF.

• Prepare quarterly Financial reports for the management.

• Prepare reports and analyses for each department.

• Prepare, validate with PM on monthly re-forecasting of Sales, GM, Cost Variance, AGM and Cash-in.

Process

Process and compliance-oriented focus with strong attention to detail and accuracy.

Promote

Promote use of technology resources compliance, best practices, and process improvement.

Provide

• Provide financial guidance and support to business units and departments.

• Provide financial insights and recommendations to management for strategic decision-making.

• Provide financial support and advice to management in closing business deals.

• Provide our global finance partners with clear guidance to ensure timely and accurate forecasts.

• Provide technical expertise on financial issues for making strategic and operational decisions.

Report

• Report month end results to parent company in Geneva using Hyperion Financial Management.

• Report on HR data to support Management in decision-making.

Research

• Research and develop cost-saving strategies.

• Research the implications of tax laws and accounting pronouncements.

Stay updated on

Stay updated on financial regulations, accounting standards, and industry best practices.

Structure

Structure the role, interfaces and define requirements for system support etc..

Supervise

Supervise a staff of 4 exempt and 13 non-exempt.

Support

• Support area managers in forecasting, budgeting and managing their financial responsibilities.

• Support Business requirements design bringing advise and expertise during workshops.

• Support financial decision-making through cost-benefit analysis and financial modeling.

• Support functional or operational area managers in forecasting the future results of their business.

• Support functional or project team in forecasting the future result of the major projects.

• Support managers in forecasting the future results of their business.

• Support operational staff in assessing and managing the performance of their business.

• Support our monthly and quarterly forecast submissions, as well as our annual budget.

• Support PH Finance BP to ensure a strong and efficient internal control system in place.

• Support process improvement initiatives to achieve financial goals.

• Support sales teams in major project tender to ensure correct costing and pricing.

• Support strategic decisions by means of sound business analysis (bus.

• Support the Business Manager in the Leadership of the Business Management Team.

• Support the International accounting team in monthly, quarterly and annual closings.

• Support the preparation of financial statements and external audits.

Update

• Update Company documentation on Wefi.

• Update monthly reporting files for the Operational Business Controllers.

Validate

Validate jointly with PMO to resolve the inconsistency and EAC increase.

Work with

• Work closely with Business Managers in the development of annual operational and capital budgets.

• Work in a company that actively promotes an entrepreneurial culture.

• Work in collaboration with other functions to collect the needed data for budgeting and forecasting.

• Work in collaboration with the WBU and all the finance corporate teams.

• Work with business teams on various cost reduction initiatives.

Most In-demand Hard Skills

The following list describes the most required technical skills of a Business Controller:

1. Financial analysis and reporting.

2. Budgeting and forecasting.

3. Financial modeling and scenario analysis.

4. Knowledge of accounting principles and practices.

5. Proficiency in financial software and ERP systems.

6. Advanced Excel skills for data analysis and financial modeling.

7. Risk management and internal controls.

8. Financial statement analysis and interpretation.

9. Business performance measurement and KPIs.

10. Cost management and control.

11. Financial planning and investment analysis.

12. Contract negotiation and financial terms assessment.

13. Financial systems implementation and optimization.

14. Compliance with financial regulations and standards.

15. Data analysis and visualization tools.

16. Advanced knowledge of MS Office Suite.

17. Understanding of tax regulations and implications.

18. Financial due diligence and valuation techniques.

19. Project evaluation and financial feasibility analysis.

20. Knowledge of industry-specific financial metrics and benchmarks.

Most In-demand Soft Skills

The following list describes the most required soft skills of a Business Controller:

1. Strong analytical and problem-solving skills.

2. Excellent communication and presentation skills.

3. Attention to detail and accuracy.

4. Strategic thinking and decision-making abilities.

5. Ability to work under pressure and meet deadlines.

6. Collaboration and teamwork.

7. Adaptability and flexibility in a dynamic business environment.

8. Leadership and influencing skills.

9. Ethical and professional conduct.

10. Continuous learning mindset to stay updated with evolving financial practices and industry trends.

Conclusion

The role of a Business Controller is crucial in ensuring the financial health and success of an organization. They are responsible for providing valuable insights, conducting financial analysis, and supporting strategic decision-making. To excel in this role, Business Controllers need a combination of hard skills related to financial analysis, budgeting, and compliance, as well as soft skills such as communication, critical thinking, and leadership. By possessing the right skills and expertise, Business Controllers can effectively contribute to the financial stability and growth of their organizations.