Fractional Controller (CPA) at Frak Finance

Frak Finance is placing a hands-on fractional Controller with a venture-backed technology company in Chicago that is preparing for go-to-market under new leadership. The finance function is being rebuilt from the ground up, and this role sits at the centre of that effort, working alongside a fractional CFO, legal counsel, and the board. On-site presence in River North is required, particularly during the initial weeks.

The scope covers reviewing and reclassifying historical transactions, establishing GAAP-compliant accounting policies (including subscription revenue recognition), implementing AP and AR controls with proper segregation of duties, improving the month-end close process, and preparing documentation for future audit or investor review. The successful candidate will also assess current finance staff and support the hiring of full-time bookkeeping support.

• Review the general ledger, account classifications, and supporting documentation, and lead reclassification of historical transactions
• Document the basis for material adjustments to withstand investor and audit scrutiny
• Establish GAAP-compliant accounting policies, including revenue recognition for subscription models
• Implement AP and AR controls and introduce segregation of duties across the finance function
• Own and improve the month-end close process and prepare reconciliations and schedules for audit readiness
• Assess current finance staff, help hire a bookkeeper or AP/AR clerk, and create SOPs to reduce person-dependency

• Active CPA licence required
• Prior public accounting experience in audit or tax strongly preferred
• Controller-level experience in a venture-backed, high-growth, or restructuring environment
• Demonstrated experience with historical cleanups, reclassifications, or audit preparation
• Strong working knowledge of GAAP, including revenue recognition for software or subscription businesses
• Based in the Chicago area with the ability to work on-site in River North

Frak Finance provides outsourced accounting, fractional CFO advisory, and M&A support for growing businesses. The firm helps owners, operators, and investors maintain clean, reliable financials so they can operate and grow with confidence.