Fractional Senior Controller – Government Contractor / Lender Oversight

Charles River CFO, Inc.; Boston (MA); Remote; USD 117,000 - 193,000; Part time

Benefits offered by this job

Flexible hours

Remote work

Travel opportunities

Job summary

Charles River CFO, Inc. seeks a Fractional Senior Controller to provide independent financial oversight for government contractor businesses with impaired asset-based loans.

The role focuses on controlling spending, improving cash flow and profitability, and strengthening financial accountability for lender confidence. The ideal candidate has senior controller experience with government contractors, hands-on contract accounting knowledge, and the ability to drive corrective actions in

Qualifications

• Senior-level Controller experience with government contractors.
• Hands-on knowledge of government contract accounting (job costing, labor charging, cost allocation, indirect rates).
• Strong FAR and DCAA knowledge.
• Experience overseeing accounting operations, close, cash management, budgeting, and forecasting.
• Ability to influence spending decisions, implement controls, and improve financial performance.
• Strong analytical and problem-solving skills.

Responsibilities

• Oversee day-to-day accounting operations, including the general ledger, month-end close, reconciliations, and timely financial reporting.
• Oversee government contract and project accounting, including job costing, labor charging, cost allocation, indirect rates, and compliance with FAR and DCAA requirements.
• Evaluate accounting records and reporting processes to identify gaps, improve accuracy, and provide reliable financial information.
• Support audit readiness, government contract audits, incurred cost submissions, and other reporting requirements.
• Work directly with borrower management to assess financial performance, identify inefficiencies, and implement corrective measures.
• Monitor cash flow, working capital, budgets, forecasts, and contract profitability.
• Identify opportunities to reduce expenses, improve liquidity, and strengthen operating performance.
• Establish spending controls, expense authorization procedures, and approval processes.
• Help borrower management prioritize financial obligations and develop actionable plans to support loan repayment.
• Lead weekly calls with the government asset-based lending (ABL) lender.
• Report on cash position, borrowing availability, collateral, financial performance, spending controls, and progress against objectives.
• Communicate emerging risks promptly and recommend corrective actions.
• Strengthen internal controls, financial reporting, and management accountability to improve transparency and lender confidence.
• Track the implementation and results of agreed-upon financial and operational improvements.

Skills

Senior Controller

Government contract accounting

FAR and DCAA knowledge

Cash flow management

Budgeting and forecasting

Communication skills

Independent work

Travel flexibility

Education

CPA preferred

Job description

Fractional Senior Controller – Government Contractor / Lender Oversight

Work Setting: Primarily remote, with occasional travel to company locations on the East Coast
Schedule: Initially 5–10 hours per week, with the potential to increase to 20–30 hours as additional companies onboard
Start Date: As soon as possible

About the Opportunity

CRCFO is seeking an experienced Fractional Senior Controller to provide independent financial oversight for government contractor businesses with impaired asset-based loans.

Working on behalf of the lender and directly with borrower management, you will take an active role in controlling spending, improving cash flow and profitability, and strengthening financial accountability. Your work will help protect the lender’s position while giving each borrower a practical path toward recovery and repayment.

This role requires senior-level Controller experience with government contractors and hands-on knowledge of government contract accounting. The ideal candidate combines strong technical accounting skills with the judgement and communication skills needed to drive corrective action in financially challenging situations.

Key Responsibilities

Accounting and Government Contract Oversight

• Oversee day-to-day accounting operations, including the general ledger, month-end close, reconciliations, and timely financial reporting.
• Oversee government contract and project accounting, including job costing, labor charging, cost allocation, indirect rates, and compliance with applicable Federal Acquisition Regulation (FAR) and Defense Contract Audit Agency (DCAA) requirements.
• Evaluate accounting records and reporting processes to identify gaps, improve accuracy, and provide reliable financial information.
• Support audit readiness, government contract audits, incurred cost submissions, and other reporting requirements, as applicable.

Cash Management and Financial Recovery

• Work directly with borrower management to assess financial performance, identify operating inefficiencies, and implement corrective measures.
• Monitor cash flow, working capital, budgets, forecasts, and contract profitability.
• Identify and implement opportunities to reduce expenses, improve liquidity, and strengthen operating performance.
• Establish spending controls, expense authorization procedures, and approval processes consistent with lender requirements.
• Help borrower management prioritize financial obligations and develop actionable plans to support loan repayment.

Lender Communication and Accountability

• Lead weekly calls with the government asset-based lending (ABL) lender.
• Report on cash position, borrowing availability, collateral, financial performance, spending controls, and progress against agreed-upon objectives.
• Communicate emerging risks promptly and recommend practical corrective actions.
• Strengthen internal controls, financial reporting, and management accountability to improve transparency and support lender confidence.
• Track the implementation and results of agreed-upon financial and operational improvements.

Required Qualifications

• Senior-level Controller experience with government contractors.
• Demonstrated, hands-on knowledge of government contract accounting, including job costing, labor charging, cost allocation, and indirect rates.
• Strong understanding of applicable FAR and DCAA requirements.
• Experience overseeing accounting operations, financial close, cash management, budgeting, and forecasting.
• Ability to work directly with management to influence spending decisions, implement controls, and improve financial performance.
• Strong analytical and problem-solving skills, with the ability to turn complex financial information into clear recommendations.
• Excellent communication skills and the ability to navigate sensitive discussions with borrowers, lenders, and other stakeholders.
• Ability to work independently, manage competing priorities, and adapt to different accounting systems.
• Availability for a variable fractional schedule and occasional travel to company locations on the East Coast.

Preferred Qualifications

• Experience working with financially distressed businesses, lenders, or turnaround situations.
• Familiarity with asset-based lending arrangements, borrowing availability, and collateral reporting.
• Experience helping businesses improve liquidity, meet financial obligations, and repay outstanding loans.
• CPA designation preferred
• Experience providing financial oversight across multiple companies or client engagements.