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.
CFS is seeking a Corporate Controller to lead the company’s accounting and tax activities, and to join the company’s leadership team on our journey from the current single location, pre-revenue stage, to an operating company with a broad range of commercial and development activities. The position has direct oversight of all financial transaction recording and reporting, the company’s strong controls environment, operation of key financial functions and, overall, contributing to process improvement across the company.
The role reports to the company’s Chief Financial Officer and is one of the key leaders of the company’s financial and operating team. .
As a peer to other functional leaders across the company, this role will have significant visibility and impact on operations and execution as the company continues its rapid growth, completes its SPARC pilot plant program, and initiates commercial activities with ARC commercial fusion power plant sales and in other related product areas.
With CFS broadening its activities and in growth mode, the work of the person in this role will be central to the foundation on which the company operates through this decade.
This team member’s key activities and responsibilities:
- Recording all activities accurately: Leading and improving 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-Hybrid
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.
