Corporate Controller at Commonwealth Fusion Systems

Massachusetts, United States

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Not SpecifiedCompensation

Senior (5 to 8 years), Expert & Leadership (9+ years)Experience Level

Full TimeJob Type

UnknownVisa

Fusion Energy, Clean Energy, TechnologyIndustries

Requirements

Strong accounting background with CPA certification
Experience as the corporate functional leader of a dynamic, growing company
Experience implementing and complying with the Sarbanes-Oxley (SOX) Act
Comfort with rigid reporting requirements of an SEC-registrant
Experience with process improvements and finance transformation in accounting operations (highly desirable)

Responsibilities

Consolidate and prepare accurate financial statements, ensuring compliance with accounting standards, regulatory requirements, and internal policies
Oversee month-end, quarter-end, and year-end closing processes
Oversee the annual financial statement audit, 401(k) audit, 409(a) valuations, and tax reporting
Oversee the cost accounting team, develop cost accounting policies and procedures, ensure consistency in practices, implement cost control measures, and optimize resource allocation with other departments
Support internal management reporting and analysis, acting as a strategic finance advisor to the business
Support investor diligence, reporting needs, audit confirmations, tax forms (K1s), and detailed reporting
Grow and strengthen the system of internal controls to prepare for SOX compliance and potential SEC registration
Manage and grow key financial functions including accounts payable, payroll, cash management, and build a commercial-ready accounts receivable department
As a member of the company’s leadership team, provide insight on process improvement, business planning, financial optimization, inventory management, general (risk-related) insurance, ERP, compliance, and other issues
In collaboration with the CFO, lead interactions and reporting to the Audit Committee
Inform the business on technical accounting considerations as the Company expands and commercializes its technology
Lead and manage the accounting team

Skills

Key technologies and capabilities for this role

Financial ReportingInternal ControlsAccounting OperationsSOX ComplianceSEC ReportingCPAFinancial Management

Questions & Answers

Common questions about this position

What qualifications are required for the Corporate Controller role?

A strong accounting background with CPA certification is required, along with experience as the corporate functional leader of a dynamic, growing company, implementing and complying with the Sarbanes-Oxley (SOX) Act, and handling rigid reporting requirements of an SEC-registrant.

What are the main responsibilities of the Corporate Controller?

The role involves managing financial operations, consolidating and preparing accurate financial statements, overseeing month-end closings and audits, leading cost accounting, supporting internal management reporting, and maintaining internal controls.

Who does the Corporate Controller report to?

The Corporate Controller reports to the Chief Financial Officer and is a critical member of the Company’s leadership team.

What is the company culture like at Commonwealth Fusion Systems?

The company seeks thinkers, doers, builders, and makers who bring new perspectives, solve tough problems, and thrive as part of a team in a dynamic, growing environment on a mission to enable fusion energy.

Is the salary or compensation specified for this position?

This information is not specified in the job description.

Commonwealth Fusion Systems

Develops and commercializes fusion energy systems

About Commonwealth Fusion Systems

Commonwealth Fusion Systems focuses on developing fusion energy as a clean and sustainable power source. The company utilizes advanced magnet technology, created in partnership with MIT, to build smaller and more affordable fusion systems called tokamaks. These devices use magnetic fields to confine plasma in a toroidal shape, which is an effective method for achieving fusion. Currently, CFS is manufacturing high-temperature superconducting magnets and constructing SPARC, the first commercially-relevant net energy fusion machine. The success of SPARC is intended to lead to the development of ARC, the first fusion power plant. CFS differentiates itself from competitors by its commitment to scientific integrity and a mission-driven approach, focusing on delivering cost-competitive fusion energy to help combat climate change. The ultimate goal is to provide a reliable and abundant energy source for energy providers and industries that require significant power.

Harvard, MassachusettsHeadquarters

2018Year Founded

$1,958.7MTotal Funding

GRANTCompany Stage

EnergyIndustries

501-1,000Employees

Benefits

12.5 Company-wide Holidays

Our vacation policy is 'take vacation'

Our sick time policy is 'get better and try not to make others sick'

Generous parental leave policy

Health Reimbursement

Health, Dependent Care, & Limited Purpose Flexible Spending Accounts

Delta Dental, Blue 20/20 Vision optional

Wellbeing / Headspace coverage

Short-term & long-term disability

Life and AD&D insurance

401K

Risks

Competition from companies like TAE Technologies could impact CFS's market position.

Reliance on rare-earth materials poses supply chain risks.

Public perception of nuclear fusion technology remains uncertain.

Differentiation

CFS uses rare-earth barium copper oxide superconductor technology for energy development.

CFS collaborates with MIT for advanced fusion research and magnet technology.

CFS is building SPARC, the first commercially-relevant net energy fusion machine.

Upsides

CFS plans to build the world's first commercial fusion power plant in Virginia.

Increased investment in fusion energy startups indicates strong investor interest.

Government net-zero targets align with CFS's clean energy mission.

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