About Westmag
Westmag is the American manufacturer of drone motors and robot actuators, backed by Andreessen Horowitz, Founders Fund, Lux Capital, NFDG, Menlo Ventures, and other top investors. Westmag is committed to building and scaling in the U.S. to serve the global market. For more information, visit westmag.com.
About the Role
As Head of Finance at Westmag, you will be our first finance hire and will build the finance function from the ground up. Reporting to the COO, you will own accounting, planning, cash and reporting, and put in place the systems, controls and processes a fast-scaling manufacturer needs. This is a hands-on, builder role: you will close the books and build the model yourself before you hire a team. Working closely with Production, Supply Chain and Engineering, you will give leadership a clear view of unit costs, margins and cash and your work will directly shape how Westmag funds and scales the production of millions of motors and actuators in U.S. factories.
What You'll Own
● Build Westmag's finance function from scratch, deciding what to run in-house and what to manage through outside partners such as bookkeepers, CPAs and auditors.
● Build and maintain the company's financial model, annual budget and rolling forecasts, with clear visibility into cash, runway, gross margin and operating spend.
● Manage cash and treasury, including banking relationships, payment approvals, collections and short-term cash forecasting.
● Own accounting operations end to end, including the monthly close, general ledger, accounts payable and receivable and GAAP-compliant financial statements.
● Partner with the COO/CEO on fundraising, debt and equipment financing, investor updates and board materials, and keep the company diligence-ready at all times.
● Select and implement scalable finance systems, including the accounting platform and ERP, and integrate them with inventory and manufacturing systems such as MES.
● Support Production, Supply Chain and Sales with capital equipment business cases, supplier terms, customer pricing and quote models and make-versus-buy decisions.
● Establish internal controls, approval policies and spend management that scale with the company and prepare Westmag for its first financial audit.
● Oversee tax compliance (income, sales and use and property), insurance, 409A valuations and cap table administration, working with outside advisors.
● Track and report on grants, incentives and government contracts as Westmag grows its U.S. manufacturing footprint.
● Set up cost accounting for a manufacturing business, including inventory accounting, standard costs, bills of materials, scrap and yield tracking and true unit costs for every motor and actuator.
● Hire and develop the finance / accounting team as the company scales.
Required Qualifications
● Bachelor's degree in Accounting, Finance, Economics or a related field.
● 8+ years of progressive experience in accounting and finance, including 3+ years leading the finance function or serving as the senior finance person at a company.
● Hands-on experience with manufacturing or hardware finance, including inventory accounting, standard costing and COGS analysis.
● Strong command of U.S. GAAP, the monthly close and financial statement preparation.
● Demonstrated ability to build financial models, budgets and cash forecasts from the ground up.
● Experience implementing or scaling accounting and ERP systems (e.g., QuickBooks, NetSuite, Xero or similar).
● Comfort working hands-on in an ambiguous, fast-paced environment where the playbook is still being written.
● Excellent communication skills, with the ability to explain financial results clearly to engineers, executives and investors.
● Authorized to work in the United States.
Preferred Qualifications
● CPA certification or an MBA.
● Experience as the first finance hire at a venture-backed startup.
● Background in drone, robotics, automotive, aerospace, defense or electromechanical component manufacturing.
● Experience supporting equity fundraising, venture debt or equipment financing.
● Experience preparing a company for its first financial audit.
● Familiarity with government contracts, grants or manufacturing incentive programs.
● Experience with multi-state tax and compliance.
Westmag is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, protected veteran status, or any other status protected by applicable law.