Director of Finance

About magniX: Based in the beautiful Pacific Northwest, magniX is a pioneer in electric propulsion and battery technology for the aerospace industry. We’re working to revolutionize how the world connects by transforming the way aircraft are powered. magniX has been at the leading edge of electric propulsion innovation for almost 20 years, and has successfully demonstrated our technology in flight. We are now on the path to take our proven technology and innovative products to market. Join us to be part of a passionate team that is ushering in a new era of aviation.

About the role: The Director of Finance is responsible for overseeing all financial operations, developing financial strategies and ensuring the company’s financial stability and growth. This role requires a strong understanding of current accounting practices and trends, and is responsible for budgeting and forecasting, financial analysis and reporting, cash flow management and compliance with financial regulations. As a member of senior management, the Director of Finance will be comfortable in a leadership role that requires clear and effective communication skills.

Primary Responsibilities:

• Financial Management:
  • Oversee the company’s fiscal activity, including budgeting, reporting and auditing.
  • Ensure the financial statements are accurate and comply with regulatory standards.
  • Manage cash flow and working capital to maintain the financial health of the company.
  • Develop and maintain financial policies, procedures, and internal controls.
  • Ownership for all accounting operations including Payroll, AR, AP, GL, Cost Accounting, Inventory Accounting, Revenue Recognition, Bill of Materials.
  • Own and manage process and system enhancements to drive efficiency, effectiveness, and scalability.
• Reporting and Compliance:
  • Ensure timely and accurate financial reporting and KPIs to stakeholders, including the leadership team, board of directors, and external partners.
  • Ensure compliance with financial regulations and standards, including tax filings and audits.
  • Coordinate and oversee external audits and liaise with auditors.
• Budgeting and Cost Management:
  • Develop and manage annual budgets, monitoring performance against budget and recommending corrective actions as needed.
  • Maintain rolling weekly cash flow forecasts to provide visibility on funding requirements.
  • Monitor and control expenses to ensure alignment with financial goals.
• Financial Strategy and Planning:
  • Lead the financial planning and analysis process, including budgeting and forecasting.
  • Analyze and present complex financial/accounting information in simple terms, with insights, conclusions and recommendations to senior leaders to guide business decisions
• Risk Management:
  • Identify and manage business and financial risks, developing strategies to mitigate them.
  • Monitor changes in financial regulations and standards, ensuring the company’s compliance.
  • Develop and monitor control systems designed to preserve company assets and report accurate financial results.
• Team Leadership and Development:
  • Lead and mentor the finance team, fostering a collaborative and high-performance culture.
  • Provide training and development opportunities to finance staff to enhance their skills and knowledge.
  • Conduct performance evaluations and manage the performance of finance team members.
• Compliance and Corporate Governance:
  • Ensure compliance with the law and company’s policies.
  • Maintain a system of policies and procedures that impose an adequate level of control over finance department activities.

Qualifications:

• Bachelor’s degree in accounting or finance
• Certified Public Accountant, with prior audit experience in a Big 4 accounting firm
• 7+ years of experience leading financial functions in a manufacturing organization
• 10+ years’ experience in an accounting-related role, having been responsible for month-end / year-end closing processes, general ledger functions and internal controls and compliance
• Strong knowledge of financial analysis and forecasting
• Knowledge of accounting principles, standards, and regulations
• Proficient in the use of MS Office and financial management software including ERP systems (e.g. SAP Business One);

Location: Applicants must be willing and able to commute to magniX's location in Everett, Washington.

Compensation & Benefits

• 100% company-paid premiums for medical, dental, and vision insurance (for employees & dependents).
• 4 weeks paid vacation + 1-week annual end-of-year shutdown, sick time, and 11 paid holidays.
• 401K retirement plan with industry leading 9.5% company contribution.
• Company paid Life insurance, AD&D, Short-Term and Long-Term disability insurance
• Catered lunches and quarterly company fun-day events!

Salary Range: $180k-$240k

E-Verify: magniX utilizes E-Verify for employment eligibility verification

Pre-employment Screenings: Employment with magniX is contingent upon satisfactory completion of pre-employment requirements including a background screen.

Export Control Compliance: To meet export control compliance requirements, candidates must be a “U.S. Person” (U.S. citizens, lawful permanent residents, refugees, or asylees). As this position requires access to export-controlled data, an appropriate export authorization by the U.S. Government may be required prior to such access. Employment, and the continuity of employment of non-U.S. persons, is contingent upon the company’s ability to secure and maintain the necessary export control authorization.

Diversity and Inclusion: magniX is an equal opportunity employer. We value and embrace diversity. We do not discriminate on the basis of race, color, national origin, religion, gender, gender identity or expression, sexual orientation, marital status, age, or disability status.