Controller - Arbutus Medical

About Arbutus Medical Inc.

Arbutus Medical Inc. is a privately held ISO13485 medical device company headquartered in Vancouver, Canada. Arbutus Medical is developing innovations that streamline surgery for the good of patient care. The company is currently focused on streamlining bedside skeletal traction surgeries in the ER of Trauma Centers through its TrakPak product line. In addition to TrakPak, the company distributes a line of surgical drills with DrillCover Technology – an innovation that adapts nonsterile DEWALT drills for use in surgery – at accessible price points to customers around the globe. Arbutus Medical’s products have regulatory clearances from the U.S. Food & Drug Administration (FDA) and Health Canada, and have been used by partners in 40 countries, enabling an estimated 109,000 surgeries to date. The company’s purpose is to create innovations that streamline surgery for the good of patient care. For more information about Arbutus Medical, visit arbutusmedical.com and follow the company on LinkedIn .

Summary

Arbutus Medical is a rapidly growing medical device venture that sells orthopaedic power tools and surgical procedure kits to help hospitals streamline surgery for the good of patient care.

We are a 16-person team seeking a Sr. Controller to own both our Financial Reporting and Financial Planning & Analysis (FP&A). Our ideal candidate is a hands-on, process-driven, empathetic team leader with an eye for detail, and a passion for turning tight financial reporting into practical insights that drive growth and efficiency.

Why Join Arbutus Medical?

We are a purpose-driven team that is a great fit for individuals who aspire to make a positive impact with their work. Arbutus Medical’s purpose is to develop innovative products that address underserved problems and streamline surgery for the good of patient care. We want to help manage rising healthcare costs, improve efficiency, and ultimately improve access to surgical care worldwide. Our goal is to enable 5 million surgeries by 2030.

Why this role, and why now?

We are growing 3x year-on-year, and recently secured a round of financing to become the leader in our focus market: skeletal traction procedures at U.S. trauma centers. In this market, our complete surgical solution for skeletal traction helps save time for busy surgeons and ER staff, ultimately improving ER throughput (a hot-button topic) and saving money for hospitals. We currently have 48 Trauma Centers using our product and aim to reach #1 market share by 2025. We are also launching two additional complementary products in 2024.

We need this Sr. Controller because we are ready to transition from fractional (contract) finance leadership to an in-house leader who can help us navigate this exciting “growth stage”. You will handle an increasing volume of transactions, and build/oversee a team that delivers timely reporting and analysis. Ultimately, you will help Arbutus Medical optimize cash flow and profitability, creating a sustainable foundation for growth and social impact.

What We Offer

• Base salary of $112,000-124,000 for 32 hours/week (80% full time), commensurate with experience (equivalent to a 100% full time salary of $140,000-$155,000)
• Flexible working hours and work-from-home arrangements, provided:
• You can attend in-office meetings at least once per month
• Be available by phone five days per week during business hours for urgent issues
• Bonus plans up to 10% of base salary
• Stock options
• Extended health benefits via Manulife
• $1,000/year in professional development funding
• 3 weeks of paid vacation
• 1-2 team-building events per year in beautiful Vancouver, Canada
• An exciting opportunity to get in at the ground floor of a growing venture
• Regular exposure to senior leadership, the Board of Directors, and key investors
• A purpose-driven workplace, with passionate teammates who want to help patients and make a positive difference in the world

Detailed Role Description

In this Sr. Controller role, we need a strategic finance leader with expertise in scaling the finance function through a growth stage by managing a small team, preparing timely reporting packages, building out an FP&A function and consistently delivering on the company’s cashflow and profitability objectives. This is a role for a hands-on leader — you will be in the weeds building the function and working while leading. In this role you will be a key player on the management team and a strategy partner to the CEO & COO.

Responsibilities - Financial Reporting & Financial Analysis

• Manage full-cycle accounting and the month-end close process in close collaboration with an outsourced accounting team, initially achieving a time-to-close of 10 business days throughout 2024, and then identifying ways to accelerate this process in 2025
• Review reconciliation reports at month-end
• Review and approve semi-monthly payroll
• Update financial projections with actuals and meet with department heads to review their budget versus actual departmental performance
• Prepare quarterly financial reports as part of the board reporting package
• Oversee government grant reporting in accordance with grant requirements to maximize funding for the company and minimize time to collect funds owed
• Lead the relationship with our external accounting firm for SR&ED, tax advisory and annual financial review engagements within 120 days of fiscal year end
• Build out an FP&A function and help develop and execute the overall FP&A strategy aligned with the company's goals and objectives
• Develop financial models to evaluate business performance and support decision-making
• Support business case development, pricing strategies, and cost optimization initiatives
• Monitor and analyze financial performance and KPIs
• Lead the annual budgeting process, working closely with functional leaders to develop realistic and achievable financial targets
• Collaboratively develop long-term financial forecasts, scenario analysis, and sensitivity models
• Monitor budget adherence and provide variance analysis to identify opportunities for improvement

Responsibilities - Strategy & Scale

• Execute the company's financial strategy in alignment with business goals and objectives, owning monthly targets for cash-on-hand and working capital
• Provide financial insights and recommendations to the CEO and COO to increase cash efficiency, profitability, or the ability for the company to create long term value
• Build and lead a high-performing finance team - mentor and develop team members to enhance their skills and capabilities
• Own the budgeting and forecasting process - monitor expenses, control costs, and optimize resource allocation to ensure financial sustainability and continuously improve predictability
• Manage cash flow effectively to support day-to-day operations and strategic initiatives while minimizing foreign exchange costs and risk, and maximizing earned interest income

Responsibilities - Compliance and Risk Management

• Ensure compliance with relevant accounting standards, regulations, and company policies
• Oversee internal controls and financial procedures to minimize financial risks and protect assets