Treasurers and Controllers

Salary Overview

Job Outlook (2024–2034)

Key Skills

Knowledge Areas

What They Do

• Evaluate needs for procurement of funds and investment of surpluses and make appropriate recommendations.
• Delegate authority for the receipt, disbursement, banking, protection, and custody of funds, securities, and financial instruments.
• Develop and maintain relationships with banking, insurance, and external accounting personnel to facilitate financial activities.
• Monitor financial activities and details, such as cash flow and reserve levels, to ensure that all legal and regulatory requirements are met.
• Receive, record, and authorize requests for disbursements in accordance with company policies and procedures.
• Develop internal control policies, guidelines, and procedures for activities, such as budget administration, cash and credit management, and accounting.
• Coordinate and direct the financial planning, budgeting, procurement, or investment activities of all or part of an organization.
• Receive cash and checks and make deposits.

Tools & Technology

★ = Hot Technology (in-demand)

Education Requirements

Typical entry-level education: Bachelor's Degree

Work Activities

Work Styles

Personality traits and behavioral tendencies important for this role.

Related Careers

Featured In

Careers with the highest skill compatibility from Treasurers and Controllers.

A Day in the Life

A controller's morning might begin with a cash position report review and sign-off on the previous day's bank reconciliations, followed by a meeting with the AR and AP teams to address aging issues affecting cash flow. A key mid-morning activity might be reviewing draft financial statements being prepared for the quarterly board audit committee presentation, scrutinizing footnote disclosures and resolving technical accounting questions raised by the external auditors. Afternoon time could be devoted to a meeting with the general counsel on the implications of a proposed acquisition for goodwill accounting and purchase price allocation. For a treasurer, the equivalent morning might involve reviewing a foreign exchange exposure report and authorizing hedging transactions, followed by a call with the investment bank managing a planned bond refinancing. The late day brings a cash flow forecast review, a capital markets update call, and preparation of a debt covenant compliance certification for a major lender.

Work Environment

Treasurers and controllers work in corporate finance environments — typically at company headquarters or major regional finance centers — characterized by the demands of financial close cycles, regulatory reporting deadlines, and continuous oversight of financial operations. The roles require extensive collaboration with external parties including auditors, bankers, regulatory agencies, lenders, and rating agencies, as well as intensive internal coordination with accounting, legal, tax, and business unit teams. While largely office-based, the seniority and cross-functional scope of these roles means that significant time is spent in leadership meetings, board presentations, investor briefings, and industry conferences. Work intensity is cyclically driven by quarter-end and year-end financial close schedules, audit windows, and capital markets transaction timetables. Remote work flexibility is increasingly available for the analytical and planning components of these roles, though leadership responsibilities favor a significant on-site presence.

Career Path & Advancement

The path to treasurer or controller typically begins with public accounting experience, often at a Big Four or large regional firm, where professionals develop audit skills, technical accounting expertise, and exposure to diverse industry accounting practices. Earning the CPA credential early is essential, and many executives additionally pursue a CMA, CFA, or MBA to deepen their financial management capabilities. After transitioning from public accounting into corporate finance or accounting roles, professionals advance from senior accountant or analyst to accounting manager, assistant controller, assistant treasurer, and director-level positions before reaching the controller or treasurer title. The CFO is the logical career endpoint for the most accomplished finance executives, though many controller and treasurer roles are themselves C-suite equivalent positions in large organizations. Board-level fiduciary roles — audit committee membership, for example — are accessible to experienced professionals who have built strong governance credentials.

Specializations

Assistant controllers typically oversee specific functional accounting areas — revenue accounting, consolidations, technical accounting policy, or SEC reporting — providing the detailed expertise that underpins the controller's overall reporting responsibility. Treasury analysts and assistant treasurers focus on cash management operations, short-term investment portfolio management, and day-to-day banking relationship management. Tax directors who report to the controller or CFO manage all aspects of corporate tax compliance, provision, and planning, often working closely with outside tax advisors on complex transactions. Internal audit functions, while typically independent, work closely with controllers to evaluate and report on the effectiveness of internal controls over financial reporting.

Pros & Cons

Industry Insight

The intersection of complex new accounting standards — ASC 842 lease accounting, ASC 606 revenue recognition, CECL expected credit loss models — has elevated technical accounting demands on controllers, driving sustained demand for skilled technical accounting professionals at all career levels. Environmental, social, and governance (ESG) reporting is emerging as a major new financial reporting frontier, with the SEC's climate disclosure rules and international equivalents requiring controllers to develop new data collection, validation, and disclosure capabilities. Treasury functions are being transformed by real-time payment systems, blockchain-based settlement mechanisms, and AI-powered cash flow forecasting tools that demand both financial sophistication and technology literacy from treasury leaders. Increased M&A activity drives demand for accounting and treasury expertise in deal structuring, due diligence, and post-transaction integration across financial consolidations and purchase accounting. Regulatory complexity — including evolving tax rules under Pillar Two global minimum tax, new GAAP pronouncements, and tightened SEC reporting requirements — continues to expand the knowledge demands placed on senior financial executives.