What the Role Should Cover
Hiring a Financial Controller is usually a sign your business has reached a new stage. The numbers are becoming more complex, reporting needs to be tighter and someone needs to take ownership of the finance function day to day.
For many businesses, the Financial Controller becomes the person responsible for keeping everything financially organised, from accurate reporting, compliance, financial forecasting and management accounts.
If you’re considering hiring a Financial Controller, the first step is to understand what the role should actually involve, and how businesses typically structure it.
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What a Financial Controller is Responsible For
When companies start hiring a Financial Controller, they’re usually looking for someone who can bring structure and oversight to the finance function.
Typical responsibilities include:
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Preparing accurate monthly management accounts
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Monitoring company cashflow and financial performance
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Maintaining financial controls and internal processes
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Overseeing bookkeeping, reconciliations and invoicing
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Ensuring VAT returns and tax obligations are handled correctly
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Producing reporting for directors and stakeholders
In many growing businesses, the Financial Controller sits between day-to-day finance operations and senior leadership, making sure the numbers are accurate and the financial picture is clear.
In the UK, salaries for this role often fall in the £55k–£75k range, before employer costs, pension contributions and other employment overheads are included.
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How Businesses Structure the Financial Controller Role
When hiring a Financial Controller, the expectation is often that one person will oversee a wide range of financial activities.
This can include:
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Financial reporting and management accounts
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Budget tracking and variance analysis
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Cashflow monitoring and forecasting
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Oversight of bookkeeping and transaction processing
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Credit control and payment management
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Payroll coordination and compliance
In practice, many businesses find that the role ends up covering a mix of operational finance and higher-level reporting responsibilities.
What Finance Support Looks Like
A Financial Controller rarely operates completely alone. In most businesses, the role sits within a wider finance setup.
That may include:
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Bookkeeping and transaction processing
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Credit control and debtor management
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Payroll administration
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Financial reporting and analysis
Some companies build this team internally. Others combine internal staff with external support, depending on workload and the stage of growth.
This is where outsourced finance services sometimes come into the picture, providing additional support around the Financial Controller role rather than relying entirely on one hire.
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Cost Considerations When Hiring a Financial Controller
Hiring a Financial Controller involves more than just agreeing a salary.
Typical costs include:
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Salary plus employer costs
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Recruitment or agency fees
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Time spent onboarding and integrating the role
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Ongoing employment overhead
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The risk that the role evolves as the business grows
For some businesses, building the full finance capability around that role can become a significant long-term commitment.
This is one of the reasons some companies explore outsourced finance structures alongside, or instead of, a full-time hire.
An outsourced finance team, by contrast, is delivered for a fixed monthly fee and typically works out around 30–40% more cost-effective than building the equivalent internal setup.
How Are We Cheaper?
It might sound too good to be true, but the difference is structural.
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You’re not locked into a full-time salary where demand fluctuates
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There are no recruitment or hiring costs
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Continuity is built in, no gaps due to absence
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You benefit from qualified accountants working as a team
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Best-in-practice software and automation are standard
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Processes such as reporting, payment runs and credit control are properly structured
It’s not about cutting corners. It’s about designing the finance function in a way that removes inefficiency and supports growth.
Hiring a Finance Controller? Our fractional finance service might be a better option.
Know what you need? Get a quote.
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Is Outsourced Finance only for larger businesses?
No, Outsourced Finance is designed for growing businesses of all sizes.
The clients who outsource their finance function to us are generally ambitious, growing businesses that need a full finance function but don’t want the overhead of hiring internally. The service also favours tech-savvy firms that want to stay on top of the latest industry developments, while maintaining full oversight of their numbers with customised reports and dashboards.
Will I have someone I can speak to day-to-day?
Yes, we'll be on hand to answer any queries whenever you need it.
We’re flexible with each client depending on how they prefer to communicate, whether that’s email, phone, Teams or WhatsApp. The idea is we become a part of your team, just like an inhouse hire would. You won’t just have one point of contact either, you’ll have a team at your disposal which makes communication as starightforward as can be.
What if we still have finance staff internally?
That's common, and still works very well.
For some businesses, we’ll work alongside a Finance Manager, Finance Director, bookkeepers or credit controllers.
We’re not here to just replace roles, we’re here to make your finance function easier and more effective. We can plug into your existing setup and support wherever needed, building something that actually works for your business. That also means we can stay flexible around how you already run things.
Do you do just one role, or the role of an entire finance team?
This depend on you, and what you need.
For some clients, our team of qualified accountants will do the job of one person or an entire team. However, for clients who may not need that level of support, our team may only need to support as a replacement for one role. It all depends on your requirements, and the beauty of the fully managed finance option is its flexibility.
Is pricing fixed or bespoke?
Pricing is always built on a bespoke basis depending on the clients' requirements.
Our clients pay us on a monthly retainer basis, and your quote will be tailored to your needs. In addition to this, we also work on a one-off basis for any project work you may need, such as legal assistance or tax advice/planning.
What kind of growth strategies can you help with?
Growth is different for every business, but we've worked with enough businesses to tailor our approach.
It might be boosting profitability by looking at pricing and costs. It could be expanding your team or opening a new office. Maybe it’s attracting investment or buyers to your business? The point is, we use your financial data to identify how we make your goals a reality. If you’re unsure whether you can afford that next hire, with better insights, you’ll be able to answer that question easily. In every case, we combine financial insight with practical business advice so you grow in a way that’s sustainable and strategic.
How fast can we start?
Usually, our onboarding can start the same week you decide to sign up with us.
That way, you’ll have:
- No more onerous notice periods
- Less risk for onboarding than taking on a staff member
- No awkward limbo period
- No reliance on a single employee
The great thing about letting us take care of your finance function is you get continuity, even during holidays or sickness, not to mention the cost saving.
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