Building a Finance Team Around a Financial Controller

Building a Finance Team Around a Financial Controller

Introduction

As businesses grow, finance needs to evolve from basic transaction processing into a structured, reliable function that supports decision-making, cash control, and governance. For many organisations, the Financial Controller becomes the central pillar of this transition.

However, appointing a Financial Controller alone is rarely enough. To deliver real value, the role must be supported by a well-designed finance team with clear responsibilities, appropriate capability, and scalable processes.

This article explains how to build a finance team around a Financial Controller, which roles typically sit above and below the position, and how to scale the team as the business grows.

Why the Financial Controller Sits at the Centre of the Finance Team

The Financial Controller acts as the bridge between transactional finance and strategic leadership. Their role typically includes:

• Ownership of financial reporting quality

• Balance sheet control and governance

• Cash flow and working capital oversight

• Systems and process design

• Supporting leadership with financial insight

To focus on these responsibilities, the Financial Controller must be supported by a team that absorbs transactional workload and delivers reliable data.

Common Mistake: Expecting the Financial Controller to Do Everything

One of the most common scaling errors is appointing a Financial Controller but leaving them overloaded with:

• Day-to-day bookkeeping

• Manual reconciliations

• Payroll and invoicing

• Firefighting basic issues

This limits their ability to add value and often leads to burnout or underperformance. Building the right team structure is essential.

Core Finance Team Structure Around a Financial Controller

While structures vary by size and sector, most growing businesses follow a broadly similar model.

Transactional Layer: Processing and Accuracy

Bookkeeper / Accounts Assistant

This role typically sits at the base of the team and is responsible for:

• Purchase and sales ledger processing

• Bank reconciliations

• Expense processing

• Basic journals and data entry

This role protects the Financial Controller from low-value, time-consuming work.

Payroll and Credit Control (Optional but Common)

As businesses grow, specialist roles may emerge:

• Payroll: ensuring accurate, compliant salary processing

• Credit Control: improving cash collection and debtor discipline

Separating these responsibilities improves cash flow and reduces risk.

Core Finance Operations: Control and Reporting Support

Finance Manager or Senior Accountant

In slightly larger teams, a Finance Manager or Senior Accountant may sit directly below the Financial Controller. Their role typically includes:

• Managing the month-end close

• Reviewing transactional work

• Preparing draft management accounts

• Supervising junior team members

This creates capacity and resilience within the finance function.

The Financial Controller: Leadership and Insight

The Financial Controller focuses on:

• Final ownership of reporting accuracy

• Balance sheet integrity

• Forecasting and cash flow visibility

• Systems and process improvement

• Governance, audit, and compliance

• Supporting leadership decision-making

They should not be the primary processor of transactions.

Senior Finance Leadership (When Required)

Finance Director or CFO

In more complex or investor-backed businesses, a Finance Director or CFO may sit above the Financial Controller, focusing on:

• Strategy and long-term planning

• Investor and board relationships

• Funding, M&A, or exit preparation

• Capital allocation decisions

In many growing businesses, the Financial Controller acts as the most senior finance leader until this role is required.

How the Finance Team Should Evolve Over Time

Early Growth

• Small transactional team

• Financial Controller heavily hands-on

• Focus on control and reporting stability

Mid-Scale Growth

• Clear separation between processing and control

• Finance Manager or Senior Accountant added

• Improved cash forecasting and reporting cadence

Advanced Scale

• Specialist roles (payroll, credit control, FP&A)

• Financial Controller focuses on insight and governance

• CFO or FD introduced where appropriate

Scaling should be progressive, not reactive.

Systems and Processes to Support the Team

A finance team cannot scale without systems and processes that support it. Financial Controllers typically lead:

• Month-end close timetables

• Clear ownership of tasks

• Standardised reporting templates

• Reduction of spreadsheet dependency

• Documentation of key processes

Good structure prevents reliance on individuals.

Interim and Fractional Support When Building the Team

Many businesses build finance teams in stages using interim or fractional support. This allows:

• Access to senior experience quickly

• Time to design the right permanent structure

• Flexibility during periods of change

• Lower risk during growth or transition

Interim Financial Controllers are often used to design and build the team before handing over.

What Makes a High-Performing Finance Team Around a Financial Controller

The most effective finance teams share common characteristics:

• Clear role definitions and accountability

• Strong data discipline

• Consistent reporting cadence

• Clear escalation and review processes

• Collaboration with the wider business

The Financial Controller sets the tone and standards.

Common Mistakes When Building Finance Teams

• Hiring junior roles instead of leadership

• Overloading the Financial Controller with processing

• Scaling headcount without scaling processes

• Poor segregation of duties

• Delaying investment until problems arise

These issues undermine control and insight.

Conclusion

Building a finance team around a Financial Controller is a critical step in scaling a business effectively. The Financial Controller should act as the architect and leader of finance—not its bottleneck.

By structuring the team with clear transactional support, operational resilience, and leadership focus, businesses gain reliable reporting, stronger cash control, and better decision-making. Done well, a finance team built around a strong Financial Controller becomes a genuine growth enabler.