Senior Cost Accountant at Commonwealth Fusion Systems

Massachusetts, United States

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Not SpecifiedCompensation

Senior (5 to 8 years)Experience Level

Full TimeJob Type

UnknownVisa

Fusion Energy, Clean Energy, ManufacturingIndustries

Requirements

Bachelor’s degree in accounting, finance or business administration preferred
7+ years' experience as a cost accountant, cost analyst, or similar role, with a focus on data analysis and knowledge of cost accounting principles and practices
Experience with inventory in a manufacturing environment
Ability to keep organized and demonstrate flexibility in a fast-paced environment
Excellent analytical skills and strong attention to detail
Strong Excel Skills
Bonus: 2+ years audit experience with Big 4 or similar
Must-have: Perform extended activities such as stooping, climbing, typing, standing, sitting, etc
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

Responsibilities

Develop, maintain, and update standard costs for raw materials, labor, and overhead
Monitor and analyze cost variances, including material, labor, and overhead variances
Review and adjust standard costs to reflect changes in manufacturing processes and market conditions
Ensure accurate capture and application of costs to projects across the company
Analyze manufacturing costs and prepare detailed reports on cost performance
Identify trends and variances in production costs and recommend corrective actions
Provide detailed cost analysis and insights to support decision-making for pricing, budgeting, and forecasting
Provide cost-related data and analysis to support financial planning
Conduct variance analysis on actual vs. standard costs, explaining reasons for differences
Work with production and operations teams to understand and mitigate cost variances
Prepare regular reports on cost variance, highlighting areas of concern and opportunities for cost reduction
Prepare journal entries to allocate cost variances
Assist in monitoring and valuing inventory, ensuring accuracy in cost allocation
Conduct periodic inventory reconciliations and analyze inventory variances
Support physical inventory counts and investigate discrepancies between physical counts and system records
Collaborate with cross-functional teams to assess processes, their inputs, outputs, quality and other factors, to identify and implement improvements to process quality, accuracy and cost
Support the development and implementation of process improvements related to cost accounting and reporting, as well as other accounting processes, including purchase order accuracy and completeness, credit memo application, parent-child effectiveness, etc

Skills

Standard Cost Management

Cost Variance Analysis

Inventory Valuation

Manufacturing Cost Analysis

Financial Reporting

ERP Systems

Excel

Variance Reporting

Cost Accounting

Budgeting

Forecasting

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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