Fractional Senior Controller – Government Contractor / Lender Oversight

Charles River CFO•Boston, MA

6d•Remote

About The Position

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, the Controller will help control spending, improve cash flow and profitability, strengthen financial accountability, protect the lender’s position, and support borrowers in pursuing recovery and repayment. The position requires senior-level Controller experience with government contractors, hands-on knowledge of government contract accounting, and the judgment and communication skills to drive corrective action in financially challenging situations. The role is primarily remote, with occasional travel to company locations on the East Coast. The initial schedule is 5–10 hours per week, with the potential to increase to 20–30 hours as additional companies onboard. The stated start date is as soon as possible.

Requirements

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, including 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.

Nice To Haves

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.

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 applicable 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, as applicable.
Work 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.
Lead weekly calls with the government asset-based lending 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.