People Matter

Corporate Controller

Commonwealth Fusion Systems

Commonwealth Fusion Systems

Accounting & Finance
Devens, MA, USA
Posted on Saturday, June 29, 2024
Commonwealth Fusion Systems (CFS) has the fastest, lowest cost path to commercial fusion energy.
CFS collaborates with MIT to leverage decades of research combined with groundbreaking new high-temperature superconducting (HTS) magnet technology. HTS magnets will enable compact fusion power plants that can be constructed faster and at lower cost. Our mission is to deploy these power plants to meet global decarbonization goals as fast as possible. To that end, CFS has assembled a team of leaders in tough tech, fusion science, and manufacturing with a track record of rapid execution. Supported by the world’s leading investors, CFS is uniquely positioned to deliver limitless, clean, fusion power to combat climate change. To implement this plan, we are looking to add dedicated people to the team who treat people well, improve our work by adding multifaceted perspectives and new ways of solving problems, have achieved outstanding results through a range of pursuits, and have skills and experience related to this role.
We are actively seeking a dynamic finance leader to join our team as the Corporate Controller. This pivotal role involves comprehensive oversight of the company’s accounting functions, including all financial transaction recording and reporting, the company’s strong controls environment, financial operations, and, overall, contributing to process improvement across the company.
In addition, the successful candidate will join the company’s leadership team, reporting to the Chief Financial Officer, on our journey from the current single location, pre-revenue stage, to an operating company with a broad range of commercial and development activities, and therefore will be looked to for a wide range of financial, process and business insight.
A strong accounting background, including a CPA certification and experience as the corporate functional leader of a dynamic, growing company is valued. Additionally, although we do not presently have plans to go public, we do expect to be doing periodic financings, so experience with Sarbanes-Oxley (SOX) compliance, a successful track record with a public accounting firm and experience operating a company with SEC reporting requirements is also important.

This team member's key activities and responsibilities:

  • Accounting process growth and improvement: Leading and improving the accounting process in a rapidly-growing and evolving environment, including the general ledger system of accounts, monthly close process, and related accounting operations to ensure that all transactions are recorded and accrued timely.
  • External financial reporting and validation: Completing all company level financial reporting, including PwC GAAP audit, 401(k) audit, and annual 409(a) valuation and all tax filings.
  • Internal management reporting: Supporting all internal management reporting (by department and/or project), with other finance team members.
  • Investor interactions and reporting: Supporting investor diligence, reporting needs, audit confirmations, tax forms (K1s) and more detailed reporting as needed.
  • Controls environment: Growing and strengthening the system of controls to ensure material accuracy (and prepare to be functionally “Sarbanes-Oxley compliant”) and that we are well-prepared for potentially being a public company in the future.
  • Financial operations: Managing and growing key related financial functions, including accounts payable, payroll and cash management.
  • Company leadership team: As a member of the company’s leadership team, providing insight on process improvement, business planning and financial optimization, including inventory management, insurance, ERP, compliance and other issues as they arise.
  • Audit Committee: Leading interactions and reporting with the Audit Committee; with CFO.
  • Technical accounting advisor: Informing the business on technical accounting considerations as the Company expands and commercializes its technology.
  • Team management and development: Serving as a coach and mentor to employees and building an exceptional team. Managing accounting team in accomplishing work in each area of responsibility, setting objectives, overseeing work, providing feedback and working with team members on career development plans.

The ideal candidate will have most, if not all, of these requirements:

  • Bachelor’s degree in the field of Business, Finance, Accounting, or other related field
  • 10+ years of progressive accounting experience, including at public accounting firm (Big 4 or large regional preferred) and hands-on private company experience including operational accounting, financial reporting and month-end close, and payroll. Experience preparing and taking a company through growth stages is a plus.
  • CPA license (active status preferred)
  • Strong working knowledge of U.S. GAAP and demonstrated experience implementing accounting policies in a variety of finance and accounting areas, including experience with ASC606 evaluation and adoption
  • Experience with multi-currency, location and segment consolidations and reporting
  • Demonstrated experience in design and implementation of accounting policies, processes, and systems in a rapid growth environment
  • Experience coordinating annual tax preparation and filing with outside CPA firm, experience with partnership / passthrough tax filing a plus
  • Active interest in, and commitment to, CFS’s mission to address climate change
  • Understanding of, experience with, and commitment to, delivering required results safely
  • Experience managing a highly motivated team and working in a dynamic, entrepreneurial environment
  • Detailed, well organized, deadline oriented, and comfortable with soliciting information from a variety of sources
  • Strong communications skills, both written and oral, to capture needed inputs and share results and findings in a manner which is accurate, timely and effective

Additional experience and/or qualifications:

  • Willingness to travel or work required nights/weekends/on-call occasionally
  • Work in a facility that contains industrial hazards including heat, cold, noise, fumes, strong magnets, lead (Pb), high voltage, high current, pressure systems, and cryogenics
  • #LI-Remote
CFS team members thrive in a fast-paced, dynamic environment and have demonstrated exceptional results through a range of different pursuits. We all tightly align with our company values of integrity, execution, impact and self-critique. As we grow, we are looking to add talented people who are mission driven and bring diverse perspectives and new ways of solving problems.
At CFS, we deeply value diversity and are an equal opportunity employer by choice. We consider all qualified applicants equally for employment. We do not discriminate on the basis of race, color, national origin, ancestry, citizenship status, protected veteran status, religion, physical or mental disability, marital status, sex, sexual orientation, gender identity or expression, age, or any other basis protected by law, ordinance, or regulation.