Operations Controller

Description

Fervo is working to build the most cost-effective, repeatable geothermal power plants in the world. Delivering on this mission requires operational excellence across every function — including the financial systems that enable Fervo to scale rapidly and responsibly. Joining Fervo’s Accounting team means supporting the backbone of a fast-growing clean energy company, maintaining high standards of accuracy, reliability, and control as we reinvent how geothermal projects are delivered.

We are seeking a Operations Controller who will serve as the accounting owner for Fervo’s Cape asset, with responsibility for ensuring accurate, timely, and decision-useful financial reporting for Cape Operations Leadership. This role will oversee operational accounting for revenue, capex, and project cost classification, and will partner closely with FP&A and cross-functional stakeholders to strengthen controls, improve processes, and support rapid operational scaling.

This position is ideal for an experienced accounting leader who thrives in a fast-paced operations environment, demonstrates extreme ownership, and is motivated by building scalable systems and processes. The Operations Controller will be a hands‑on leader initially and is expected to build and manage a team of accountants over time.

As the Operations Controller for Fervo’s Cape asset, you will own the integrity of operational accounting and reporting, including revenue, capex, and project cost classifications, ensuring proper accounting treatment in accordance with GAAP and internal policies. You will serve as the primary accounting partner to Operations leadership and will work cross-functionally with FP&A, Supply Chain, Engineering, and Project teams to ensure operational financials reflect reality, support decision-making, and meet leadership expectations.

You will lead the month-end close for the Cape asset, including journal entries, reconciliations, variance analyses, and management reporting. You will also strengthen internal controls, support audits, and drive process improvements to increase accuracy, efficiency, and scalability.

• Own operational accounting for Fervo’s Cape asset, including revenue, capex, and project cost classification, ensuring accurate accounting treatment and compliance with GAAP and internal policies.
• Lead month-end close activities for Cape operations, including preparing/reviewing journal entries, reconciliations, and supporting schedules across key accounts.
• Partner closely with FP&A to deliver monthly P&L reporting, variance explanations, and financial insights to Cape Operations leadership.
• Maintain and strengthen internal controls over project accounting, capex tracking, and operational financial reporting; support internal and external audit readiness as needed.

• Work cross-functionally with Operations, Supply Chain, and Engineering to validate financial data, improve cost accuracy, and support project forecasting and decision-making.
• Ensure operational financial reporting aligns with underlying activity (e.g., project progress, procurement timing, cost allocations), escalating risks or gaps as needed.
• Drive process improvements that enhance the accuracy, efficiency, and repeatability of Cape financial reporting, including documentation of standard operating procedures.

• Own end-to-end ARO accounting, including initial recognition, ongoing measurement, accretion, settlements, roll forwards, and revisions driven by changes in timing, scope, cost, inflation, or regulatory requirements.
• Calculate and record accretion and ARC impacts, applying appropriate credit-adjusted risk‑free discount rates and ensuring proper capitalization and depreciation within PP&E.
• Partner cross-functionally with Engineering, Operations, Legal, and Environmental teams to identify new or modified AROs and maintain robust supporting documentation and controls.

• Demonstrate extreme ownership over the financial integrity of the Cape asset’s revenue…