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Cost Accounting Manager

Commonwealth Fusion

Commonwealth Fusion

Accounting & Finance, Sales & Business Development
Devens, MA, USA
Posted on Monday, June 26, 2023
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.
The Cost Accounting Manager will be responsible for developing and leading management accounting initiatives for the company, with a focus on ensuring the costs of materials, magnet manufacturing sub-assemblies, and subsystems that make up SPARC, our fusion energy machine, are accounted for timely and accurately in our ERP.

This team member will:

  • Develop and implement robust cost accounting policies, procedures, and controls to ensure accurate cost allocation, tracking, and reporting.
  • Manage the inventory costing process, including the documentation and update of costing methods for materials, labor, and overheads.
  • Coordinate with the logistics team to oversee the annual physical inventory count and inventory cycle counts;, including assisting with root cause/corrective actions.
  • Perform variance analysis of actual costs against expected costs in cooperation with financial analysts, investigating and explaining significant discrepancies.
  • Manage and mentor the Senior Cost Accountant, review journal entries and reconciliations prepared by the team.
  • Lead audit preparation and preparation of deliverables, as it relates to inventory, work-in-process, construction-in-process, and certain fixed assets.
  • Stay abreast of industry trends and best practices in cost accounting and data analytics, recommending and implementing process improvements.
  • Drive special projects to elevate the cost accounting function, such as ERP process enhancements and internal controls.
  • Lead and develop a team of 1-2 accountants
  • Primary reviewer of account reconciliations and journal entries with accountability for related internal controls.
  • Drive improvements to processes and procedures

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

  • Bachelor’s degree in Business Administration or Accounting or similar field preferred.
  • Minimum of 5 years experience in Accounting, including 1-2 years in supervisory role
  • Experience with ERP Systems
  • Proven experience as a cost accountant, cost analyst, or similar role, with a focus on data analysis and strong knowledge of cost accounting principles and practices

Additional preferred experience and/or qualifications:

  • 3-5 years audit experience with Big 4 or similar
  • Experience with Odoo ERP system
  • Experience in an organization funded by government grants or contracts
  • Perform activities such as typing and sitting, for extended periods of time
  • Willingness to occasionally travel or work required nights/weekends/on-call or long hours
  • 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.