Why are More Companies Hiring Assistant Controllers?

Recently, we have noticed an interesting trend in accounting hiring. More Assistant Controller roles are being posted than our team ever remembers seeing before. And those roles aren’t staying open for long! Assistant Controller hires are definitely on the rise, especially among startups and mid-market companies.

While 2022 was dubbed “The Year of the Controller” because of the astronomical rise in controller hires from 2021-2022, this year could probably just as well be called, “The Year of the Assistant Controller” because our team is seeing a sustained spike in interest from companies looking to hire an Assistant Controller for the first time. 

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​So, what’s going on? Let’s look at the main factors driving the demand for Assistant Controllers these days!

Increased Financial Complexity
Kurt Maass puts it succinctly when he says, “These last few years have created unprecedented demands for the accounting and finance teams of small companies (and larger ones, too!)” in talking about year-end requirements.

Many organizations are facing increasingly nuanced and complicated accounting situations related to medical and maternity leave, benefits coverage, hiring calculations, and payroll taxes. This is true both for startups, which are finding that they need increased capabilities in their team to get the business off the ground, as well as mid-market companies that are trying to minimize growing pains so they can scale up more efficiently. To operate responsibly and manage cash flow well today’s businesses need someone to help provide clarity around complex financial matters.

Staff Turnover
The ongoing accountant shortage continues to wreak havoc on companies nationwide because when an accountant leaves their role for a new opportunity or retirement there isn’t a strong pipeline to backfill the role. As a result, many organizations are turning to outsourced fractional accounting help to supplement their in-house team. This solution is a great way to ensure effective coverage of critical accounting activities, but it requires a financially savvy leader to manage all the moving pieces. Many business leaders simply don’t have the time or financial acumen to act in this capacity effectively, so they’re bringing in someone knowledgeable in this area to do it for them.

Even companies that don’t outsource any of their accounting needs are finding an increased need for a Senior Accounting Manager or Assistant Controller because they are more likely than ever before to have employees working hybrid arrangements. With employees splitting their time between in-office and remote work (as well as possibly shortened workweek schedules) there is a lot to oversee and plan for, which is driving the need for an Assistant Controller-type role as well.

The Need to Catch Up & Clean Up
Between accounting needs becoming more significant year over year and open accounting roles that are slow to be filled, the demands being placed on accounting teams have ratcheted up a notch, causing many teams to fall behind. This is manifesting itself in missed deadlines, late filings, unreconciled accounts, and messy books.

More and more accounting consultants are finding themselves walking into “cleanup engagements,” where they need to help business owners dig the company out of disarray and put it on the right path moving forward. An Assistant Controller has the right set of skills and experience to do just that! They will likely bring significant expertise in this area and be able to not only contribute to these efforts themselves but also rally a team around tackling these kinds of challenges to help the company catch up where they are behind and get the books cleaned up to make future endeavors more successful.

Weak Processes
In much the same way that Assistant Controllers have the skillset needed to get messy financial records cleaned up, they also typically have an eye for identifying ways to improve accounting processes and controls. The best Assistant Controllers will be able to recognize areas where business processes around financial activities may be hindering success and understand how to improve them to improve efficiency and reduce errors. An Assistant Controller can also help mitigate risk by strengthening a company’s internal controls to better protect it from internal and external threats.

Lack of Visibility
Where there are outdated financials and messy books it’s hard to get a good grip on your financials so you can make informed decisions. Companies that bring in an Assistant Controller can find greater clarity around the financial side of the business to improve strategic decision making. As a result, they can have more confidence in business plans and better achieve their goals to drive long-term success.

When you need to hire an assistant controller or senior accounting manager, we can help! We offer accounting recruiting services for all levels of accounting roles up to the controller level. Contact our recruiting team to find out more!

Not ready to hire a controller yet? No problem! Our colleagues at CFO Selections offer part-time controller services to help bridge the gap until you have the need for a full-time role.