Director of Accounting Operations Career and Salary Profile
Controlling and safeguarding an organization’s assets is the primary focus of a director of accounting operations. These high-level professionals manage and direct the accounting and budgeting functions of companies in a wide variety of industries, all over the world. Embarking on a director of accounting operations career can begin with enrolling in an MBA program with a specialization in Accounting.
Job Outlook
According to the U.S. Bureau of Labor Statistics (BLS), employment for accountants, including directors of accounting operations, will experience strong growth in coming years. Increases in regulations and in the number of business start-ups will spur demand for knowledgeable accounting professionals. Candidates with master’s degrees in accounting or business should have the best prospects.
Director of Accounting Operations Job Duties
In most companies, the director of accounting operations oversees the accounting department’s design, development and implementation of all accounting activities. Typically, this includes general and derivative accounting, budgeting, policies and procedures, and compliance with industry-specific rules and regulations. For example, in an investment firm, the director of accounting operations would ensure compliance with U.S. Securities and Exchange Commission (SEC) and other federal regulatory agency rules.
Overseeing monthly financial statement reconciliation, along with annual budgeting and forecasting, is an important duty of a director of accounting operations. In addition, these accounting professionals determine the impact on financial and accounting systems of proposed procedures, transactions and other business activities, and make recommendations for action. They also monitor and develop solutions to issues that arise in daily accounting activities.
The director of accounting operations is typically responsible for holding a broad view of the specific industry in which they are employed. This often includes spotting trends and staying on top of critical issues, the economy, and proposed regulatory and reporting changes.
Directors of accounting operations usually work in comfortable office environments. A 40-hour week is standard. Depending on the employer, travel, including international, may be required.
Potential Salary
According to BLS data for May 2009, the average annual salary for all accountants, including directors of accounting operations, was $67,430, while the middle 50% earned between $46,740 and $60,340. The lowest 10% earned approximately $37,690, while those in the highest 10% bracket brought in about $104,450.
Data compiled from director of accounting operations job listings on Indeed.com showed an average annual salary of $104,000 as of February 2011.
Higher salaries are generally earned by those with solid experience and the advanced education employers need to remain competitive.
Education and Training Requirements
A bachelor’s degree is the typical minimum requirement for director of accounting operations jobs. Some employers prefer to hire candidates with extensive experience or advanced education, including master’s degrees. In addition, many positions require the Certified Public Accountant (CPA) designation.
Professionals seeking a director of accounting operations position can enhance their opportunities by enrolling in an MBA program with a specialization in Accounting. Coursework typically includes strategic cost management, international accounting and reporting, managerial accounting, and financial management.
Employers can be confident that professionals who have earned an MBA with a specialization in Accounting are able to:
- Position a company for success through strong managerial accounting.
- Analyze financial and accounting issues and develop effective solutions.
- Develop successful financial reporting systems for a variety of organizations.
- Compare regulatory and disclosure differences between international and U.S. accounting practices.
- Leverage advanced knowledge and skills to succeed as a director of accounting operations.
Do You Have the Potential For Success as a Director of Accounting Operations?
Achieving success in a director of accounting operations career requires sharp business skills, the ability to adapt to changing business conditions and a knack for working in fast-paced environments. Leadership, communication and interpersonal skills are also vital for thriving in this field. If this sounds like a good fit for your skills and interests, consider earning an MBA with a specialization in Accounting to gain the up-to-date knowledge and the confidence you’ll need to launch your director of accounting operations career.
