Financial Expert Roles to Know

Regardless of the stage your business is in, it’s crucial to have a good understanding of financial concepts and terminology. This includes the different financial roles that work together to help your organization stay on track. By doing this, you can make informed decisions about your business’s finances and who you need to consider having on your team to help your company be successful. As your organization grows, it becomes even more important to ensure you have the right team in place to help you with the many different financial tasks.

While it can seem daunting to hear others name the many roles on their financial team, there’s no reason to be alarmed. Understanding each experts’ responsibilities and position within a company is key to understanding who you need on your financial team and when.

Accounting Technician

An accounting technician keeps track of financial progress. They manage and record financial transactions and prepare financial statements. Specifically, they prepare income statements, balance sheets, cash flow statements, and statements of retained earnings. Accounting technicians, who can also be known as bookkeepers, help owners make informed decisions about their company based on where they are currently.

Many businesses may look to outsource bookkeeping as their first fractional position. Accounting technicians can provide the peace of mind that finances and books are in order and handled by a professional, giving organizations the ability to focus more time on other areas of the company.

Financial Analyst

A financial analyst, or accountant, takes a more subjective look at an organization and provides insights based on what is found within the bookkeeping. An important aspect of their position is ensuring that a business is compliant with different rules and regulations. This can include compliance with payroll taxes and other government items, such as workers’ compensation.

Financial analysts will work to help the business owner to understand their financial data and the impacts of certain financial decisions. They can also provide information for forecasts or future trends and verify and analyze data.


A controller is a tactical position that looks at the organization’s transactions as a whole and works to ensure the management of the business’s financial health. Their primary function is to create reports that summarize or forecast a business’s financial position and oversee the functions of accounting in the company, while ensuring records are kept properly. They will also work as trusted advisors to the executive team.

The controller may work on a variety of tasks including, creating financial reports, helping to manage the budget, and overseeing financial risks. They may also work with other departments to ensure that the company’s financial goals are met. A controller is a vital member of the business in helping the organization make informed decisions about its finances.


A chief financial officer (CFO) is a strategic leader responsible for the financial management of a business and will generally wear many hats. A good CFO will be able to understand and uncover what a company needs and see where they best fit to provide the organization with the custom support it needs.

Their skills are unique and far-reaching allowing them to jump in and help in a variety of situations. While they can create financial reports, manage the budget, and oversee financial risks, they can provide much more support and resources than that. By using your CFO to help you translate your financial numbers into actionable ways to improve productivity and profit your business can benefit greatly.

It is important to consider which experts you may need to bring in and when to help your business succeed. Regardless of the size of your organization each of these roles can benefit the long-term success of your company in achieving its financial goals.

By taking the time to talk to a financial team you can better understand who your business may need in its current state. If your company needs to discuss its current situation or you know you need the resources of a complete finance team, but may not be in the position to support the financial investment, consider Part-Time CFO Services for a cost-effective solution. Our experienced consultants work as an extension of your team to help support your goals. Let’s connect.