Financial Controller

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• Overview

Founded in 2020, ACUA Ocean is a fast-growing, Plymouth-based maritime technology company at the forefront of maritime autonomy and low-emission propulsion.

We design, build and operate uncrewed surface vessels (USVs) that deliver ocean data collection, monitoring and maritime security capabilities for the defence, offshore energy and marine conservation sectors.

Our first vessel, USV Pioneer, is a 14m Pioneer-class SWATH (small waterplane area twin hull) USV with hybrid-electric propulsion, designed to stay stable in higher sea states while carrying modular sensor and system payloads.

In 2025 USV Pioneer became the UK's first uncrewed vessel to be certified under the MCA Workboat Code 3, controlled from our Remote Operations Centre (ROC) in Plymouth.

With further Pioneer-class vessels and larger platforms in development, we are hiring a Financial Controller to join our business operations function, supporting company growth.

A successful candidate must be a team player with a passion for sharing knowledge and be ready to be at the grassroots of this growing business, supporting the growth of a robust and diverse team.

The role

The Financial Controller owns the integrity of the company's numbers and the controls behind them.

You will run the finance function day to day, so that the CFO, the board and our investors can rely on what they are told about margin, cash and project performance.

Hardware finance is different from software finance.

Cash is tied up in stock and work in progress, contracts run for months or years, and a large share of spend is R&D that is part funded by grants and tax relief.

We need a controller who understands how a product is engineered and built, and who will work alongside engineering, operations and programme teams as well as in the ledger.

Key responsibilities

• Financial control and reporting
• Own the month-end close and deliver management accounts with variance commentary within 5 working days.
• Prepare the monthly board pack with the CFO, including KPIs, cash position and project margin.
• Prepare statutory accounts under FRS 102 and lead the year-end audit.
• Maintain the balance sheet, with every account reconciled and reviewed monthly.
• Design, document and maintain internal controls, delegated authorities and finance policies.
• Project and contract accounting
• Run project accounting for customer contracts and internal development programmes, covering cost to complete, margin and WIP.
• Apply revenue recognition on long-term contracts, including milestone and percentage-of-completion methods.
• Review project forecasts monthly with programme managers and challenge estimates.
• Support bid pricing and commercial terms, including payment milestones, retentions and FX exposure.
• Inventory, costing and capital
• Own stock and WIP valuation, standard costs, BOM cost roll-ups and overhead absorption rates.
• Lead stock counts and maintain provisions for obsolete, slow-moving and prototype stock.
• Maintain the fixed asset register and control capex against budget.
• Apply the policy on capitalising costs and review it each year.
• Cash, treasury and working capital
• Maintain the 13-week cash flow forecast and the rolling 12-month forecast.
• Manage working capital: customer milestones and collections, supplier terms and deposits on long lead-time items.
• Support banking relationships, FX and any debt facility covenants.
• Budgeting and business partnering
• Lead the annual budget and quarterly re-forecasts with budget holders.
• Give engineering, operations and supply chain leads clear monthly cost reporting.
• Support fundraising and due diligence with data room material and historical analysis.
• Tax, grants and compliance
• Manage VAT, PAYE, corporation tax and customs duty compliance with external advisers.
• Prepare the R&D tax relief claim, working with engineering to evidence qualifying activity.
• Manage grant claims and audits (e. g. Innovate UK), including timesheet and cost eligibility records.
• Oversee payroll, pensions and share scheme reporting.
• Support export control and customs requirements with operations where they affect finance.
• Systems and team
• Own the finance system and its integration with information systems, and lead improvements as the company scales.
• Automate routine reporting and shorten the close.
• Lead, coach and develop the finance team as the company scales.
• Deploy new control frameworks and digital solutions to automate and optimise the function.

Person specification

• Qualified accountant (ACA, ACCA or CIMA) with 5+ years of post-qualification experience.
• Experience in an engineering, manufacturing or hardware business with physical product, stock and long-term contracts.
• Strong technical accounting under FRS 102, including revenue recognition and stock valuation.
• Hands-on project accounting and WIP experience.
• A track record of running month-end, year-end and audit.
• Cash flow forecasting experience in a business where cash is tight or lumpy.
• Experience managing and developing a small finance team.
• Advanced Excel and working knowledge of an ERP or finance system (e. g. Xero, Net Suite, Sage, Business Central).
• Able to explain numbers clearly to engineers and other non-finance colleagues.
• Experience in a venture-backed or private equity-backed scale-up.
• R&D tax relief and grant claim experience.
• Exposure to fundraising, due diligence or an exit.
• Experience implementing or upgrading an ERP/MRP system.
• Experience of government or defence contracts and their cost rules.
• Multi-currency or multi-entity consolidation experience.
• What success looks like in the first 12 months
• Month-end closes in 5 working days, with accounts the Board trusts.
• Every live project has a reviewed monthly forecast of cost to complete and margin.
• The 13-week cash forecast is accurate to within 10% over a four-week horizon.
• A clean audit with no significant control findings.
• R&D and grant claims filed on time and fully evidenced.
• Procure-to-pay process fully digitised and controlled.
• The finance team has clear roles, and routine reporting no longer depends on manual spreadsheets.
• £50K-70K salary depending on experience
• 24 days annual leave plus bank holidays plus Christmas closure
• Comprehensive benefits package from Vitality - access to full health insurance including dental coverage
• Awesome perks such as discounted gym memberships, mental health cover and global health coverage
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