Treasurers and Controllers

The treasurer and controller occupy related but distinct positions in organizational finance—the treasurer managing cash, investments, and external financial relationships while the controller oversees accounting, reporting, and internal controls. A typical week for a treasurer involves monitoring cash positions, executing investment decisions, managing banking relationships, and overseeing debt and capital structure decisions. Controllers focus on closing the books, ensuring reporting accuracy, managing audit relationships, and maintaining the internal controls that prevent fraud and errors. Perhaps 40% of time for both roles goes to operational responsibilities—daily treasury operations or monthly close processes. Another 30% involves planning and analysis: cash forecasting or financial reporting improvements. The remaining time splits between strategic projects, team management, and the regulatory compliance work that has intensified in recent years.

People who thrive in these roles combine technical precision with strategic thinking and the ability to communicate with non-financial stakeholders. Successful practitioners develop systematic approaches to their core responsibilities while remaining adaptable when unusual situations arise—treasury professionals must navigate financial crises; controllers must handle restatements and audit issues. They build effective relationships with banks, auditors, and internal stakeholders. Those who struggle often become so focused on technical accuracy that they lose sight of business context. Others fail because they cannot manage the team dynamics—both roles supervise staff performing detailed work that requires both precision and judgment. Burnout affects those who internalize the pressure of these roles, particularly during crisis periods or difficult audits.

Treasury and controllership have served as paths to CFO and broader executive roles. Notable practitioners include those who navigated organizations through financial crises, though the roles' nature means famous individuals are rare—success often means invisibility. Professional organizations like AFP (treasury) and IMA (management accounting) have elevated the fields. These roles rarely appear in popular culture directly, though financial thrillers often feature treasury and accounting functions as plot elements. *The Accountant* portrayed an unconventional accounting professional. Corporate dramas like *Succession* show treasury decisions affecting plot. The functions remain less culturally visible than front-office finance despite their essential nature.

Practitioners cite the satisfaction of maintaining organizational financial integrity and enabling operations through sound cash management as primary rewards. The intellectual challenges—optimizing investment returns, designing effective controls—appeal to analytical minds. The roles offer stability compared to more volatile finance functions. Common frustrations include the pressure of close deadlines and audit seasons when errors have significant consequences. Many resent being seen as back-office functions rather than strategic contributors. The increasing regulatory burden, particularly around internal controls and financial reporting, has added compliance overhead that can feel distant from value creation. The precision expectations mean mistakes are remembered while accuracy is expected and rarely celebrated.

These careers typically develop through accounting backgrounds—CPA experience for controllers, with treasury professionals sometimes coming from banking or investment management. Bachelor's degrees in accounting or finance are standard, with CPA certification nearly universal for controllers and CTP (Certified Treasury Professional) common for treasurers. The roles suit those who enjoy precision and systematic approaches and can tolerate the cyclical intensity of financial reporting and planning cycles. They are poorly suited to those uncomfortable with detailed work or who find routine processes tedious. Compensation is consistently strong, with larger organizations and complex industries offering higher salaries for the expertise required.