WHAT DOES A GLOBAL CONTROLLER DO?

Published: Apr 23, 2025 – The Global Controller ensures accurate and compliant financial reporting by delivering quality data, maintaining internal controls, and adhering to international accounting principles. This role involves coordinating audits, tax advisory services, and regional data submissions to support global consistency and compliance. The controller also drives process improvement and policy standardization to enhance internal governance and support long-term profitability.

A Review of Professional Skills and Functions for Global Controller

1. Global Controller Key Accountabilities

  • Accounting Operations: Plan, direct, and coordinate across all accounting operational functions
  • Accounting Standards: Maintain an in-depth and up-to-date knowledge and understanding of both US and international accounting principles (including IFRS, UK GAAP, and US GAAP)
  • Revenue Recognition: Oversee revenue recognition processes and develop and implement any changes needed to both comply with accounting principles and meet business demands
  • Internal Controls: Review, establish, implement, maintain, and monitor critical accounting and internal control policies, processes, and associated metrics
  • Month-End Close: Review monthly accounting close process, including analytical review of the operating results, to ensure accurate accounting records are maintained
  • Financial Close Optimization: Evaluate current annual close processes and timelines, and implement solutions to reduce effort and duration
  • Financial Consolidation: Supervise the consolidation of all financial data necessary for an accurate accounting of consolidated business results
  • Financial Reporting: Provide the management team with timely information vital to the decision-making process
  • Cash Flow Management: Oversee global cash reporting and facilitate cash flow forecasting
  • Budgeting Standards: Ensure consistent standards and tools are utilized in the annual budgeting process across business units and centrally

2. Senior Global Controller Role Purpose

  • Journal Entries: Approve key journal entries and ensure proper accounting treatment per both GAAP and Mgmt Financial statements
  • Audit Documentation: Create accounting position memos for audit purposes
  • Balance Sheet Review: Lead Balance Sheet Reviews
  • Close Management: Take responsibility for leading monthly Close Calls
  • Financial Consolidation: Ownership of the financial accounting consolidation process and systems
  • Financial Reporting: Prepare and communicate the month-end financial reporting
  • Tax Provisioning: Partner with the Tax Director to ensure proper Income Tax provisions and reconciliations
  • SOX Compliance: Maintain Sarbanes Oxley documentation for income tax processes
  • Process Improvement: Update internal controls, change documentation, processes, and automation of income tax processes to improve efficiencies and controls
  • Team Leadership: Manage the work and development of global controllership staff members

3. Global Controller General Responsibilities

  • General Ledger Accounting: Work on general ledger accounting and journal entries.
  • Account Reconciliation: Perform account analysis and reconciliations.
  • Financial Close Support: Assist with month-end, quarter-end, and year-end closing.
  • Financial Analysis: Compile, consolidate, and analyze financial information.
  • SOX Compliance: Assume responsibility for performing SOX controls.
  • Audit Support: Assist in the provision of information to internal and external auditors.
  • Operational Accounting: Assist with operational accounting processes.
  • Treasury Management: Manage and coordinate treasury functions globally
  • Foreign Exchange Control: Ensure proper controls are in place, create efficiencies in foreign exchange, and manage relationships with outside providers
  • Reporting and Projects: Provide ad-hoc reports and special project assistance.

4. Global Controller Additional Details

  • Financial Analysis: Provide quality data to drive growth and profitability by providing expert financial analyses and reporting both internally with company management and externally with Dymax audit partners
  • Financial Compliance: Deliver company financial statements and records that are accurate and compliant
  • Accounting Standards: Fully observe generally accepted accounting principles, investigate and correct anomalies, and lead the coordination of regional data submissions
  • Tax Advisory Management: Coordinate and manage tax advisory services by ensuring compliance, updating documentation, reviewing allocations, and implementing strategic tax initiatives
  • Audit Coordination: Manage external audit relationships to facilitate the completion of audit procedures in a timely and efficient manner
  • International Accounting: Maintain an in-depth, up-to-date understanding of international accounting principles
  • Internal Controls: Maintain consistent spending practices by following internal controls and policies
  • Noncompliance Analysis: Take responsibility for identifying and analyzing noncompliance
  • Policy Improvement: Make timely, actionable recommendations for policy updating and revamping when needed
  • Process Improvement: Develop and improve business processes and accounting policies to maintain and strengthen internal controls and drive standardization globally

5. Global Controller Essential Functions

  • Finance Business Partnering: Serve as a global Finance Business Partner for IB and their respective underwriting, claims, and operational teams
  • Financial Performance Review: Fully understand and challenge the financial performance (Nominals and USGAAP/IFRS) of IB
  • Financial Planning: Support all other specific closing, projection, and planning requirements that will ensure a timely and accurate quarterly closing and annual planning
  • Stakeholder Collaboration: Perform the above tasks with a high degree of autonomy, but leveraging on and working closely with all relevant stakeholders to deliver on clear goals and objectives
  • IFRS Process Development: Enhance existing and develop new Global Product processes for use upon Corporate Solutions' and Swiss Re's adoption of IFRS
  • Cost Allocation Practices: Support the design, creation, and embedding of statistical cost allocation practices and oversee accurate completion from within the team
  • Cost Control Development: Develop cost control understanding and capabilities across the organization, championing cost control stewardship with budget owners
  • Audit Liaison: Manage or serve as a global liaison with external auditors to facilitate completion of audit procedures in a timely and efficient manner
  • GSS Accounting: Directly oversee accounting for Global Shared Services (GSS)
  • GRF Management: Maintain Global Reserve Fund (GRF), including regular accounting and reporting on the fund’s balance sheet, monitoring status of (re-)payments into the fund, and ensuring compliance with uses of the fund
Relevant Information
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