What are the responsibilities and job description for the Revenue & Settlements Manager position at Fervo Energy?
Description
Fervo is working to build the most cost-effective, repeatable geothermal power plants in the world. Achieving this mission requires secure, resilient, and highly available infrastructure that can scale from early-stage development to full commercial operations. Joining Fervo means operating at the intersection of energy infrastructure and modern enterprise systems—where reliability, safety, and disciplined execution are foundational.
We are seeking a Revenue and Settlements Manager to build and lead Fervo’s revenue accounting and settlements function. This role will be responsible for designing and owning end-to-end processes across power sales, settlement, invoicing, and revenue recognition as Fervo begins generating and scaling revenue under complex PPAs and energy market structures.
The ideal candidate brings deep experience from a power, IPP, utility, or merchant trading environment; strong technical accounting expertise; and a builder mindset suited for a zero-to-one environment.
Position Description
As the Revenue and Settlements Manager, you will lead the development of Fervo’s revenue accounting function, owning the full lifecycle from settlement through financial reporting. You will partner closely with Commercial, Market Operations, Asset Management, and Finance to ensure accurate, timely, and scalable revenue processes.
This role is expected to operate as a hands-on builder initially, with the opportunity to scale the function and team over time.
Requirements
Responsibilities
Function Build & Ownership
Required
Fervo is working to build the most cost-effective, repeatable geothermal power plants in the world. Achieving this mission requires secure, resilient, and highly available infrastructure that can scale from early-stage development to full commercial operations. Joining Fervo means operating at the intersection of energy infrastructure and modern enterprise systems—where reliability, safety, and disciplined execution are foundational.
We are seeking a Revenue and Settlements Manager to build and lead Fervo’s revenue accounting and settlements function. This role will be responsible for designing and owning end-to-end processes across power sales, settlement, invoicing, and revenue recognition as Fervo begins generating and scaling revenue under complex PPAs and energy market structures.
The ideal candidate brings deep experience from a power, IPP, utility, or merchant trading environment; strong technical accounting expertise; and a builder mindset suited for a zero-to-one environment.
Position Description
As the Revenue and Settlements Manager, you will lead the development of Fervo’s revenue accounting function, owning the full lifecycle from settlement through financial reporting. You will partner closely with Commercial, Market Operations, Asset Management, and Finance to ensure accurate, timely, and scalable revenue processes.
This role is expected to operate as a hands-on builder initially, with the opportunity to scale the function and team over time.
Requirements
Responsibilities
Function Build & Ownership
- Collaborate with external consultants to design and stand up Fervo’s revenue accounting and settlements function from the ground up
- Leverage industry experience to contribute unique perspective applied to designing and scaling Fervo’s revenue and settlements function
- Establish scalable processes, controls, and documentation to support revenue generation as operations ramp
- Define workflows across systems and teams (operational data ? settlements ? invoicing ? general ledger)
- Evaluate and implement systems and tools to support revenue accounting and settlements (e.g., Allegro or similar platforms)
- Own revenue recognition for power sales and related arrangements in accordance with ASC 606, including contract review and performance obligation assessment
- Lead monthly revenue close processes, including settlement calculations, journal entries, and reconciliations
- Oversee power market settlements across relevant ISOs/RTOs (e.g., CAISO, ERCOT), ensuring accuracy of pricing, volumes, and contractual terms
- Manage complex invoicing processes beyond simple PxQ structures, including reconciliation of generation data, settlement statements, and counterparty reporting
- Investigate and resolve discrepancies across operational, market, and financial data
- Partner with Commercial and Market Operations teams to understand PPA structures, settlement mechanics, and market rules
- Collaborate with Finance and leadership to ensure revenue is accurately reflected in reporting and forecasting
- Support accounting for complex arrangements, including derivatives, hedging, and structured power transactions
- Design and implement internal controls to ensure audit readiness and financial integrity
- Collaborate with SOX consultants to verify controls’ design and operating effectiveness
- Prepare revenue-related documentation and support audits (e.g., contract memos, revenue analyses, tie-outs)
- Identify opportunities for automation and process improvement as transaction volume increases
- Help define future team structure and hiring needs as the function scales
Required
- B.S. in Accounting, Finance, or related field
- 8–12 years of progressive accounting experience, with deep focus on revenue accounting and/or power settlements
- Experience in power generation, IPP, utility, or merchant trading environments
- Strong knowledge of ASC 606 and revenue recognition principles
- Hands-on experience with power market settlements (ISO/RTO environments such as CAISO, ERCOT, etc.)
- Proven ability to build or significantly improve accounting processes in a complex environment
- Advanced Excel skills and ability to work with large, complex datasets
- Strong cross-functional communication skills and ability to operate in ambiguity
- CPA or CPA-eligible
- Experience with settlements or trading systems (e.g., Allegro)
- Exposure to derivatives accounting and structured energy transactions
- Experience supporting early-stage or first-time revenue generation in a scaling organization
- Background in building accounting functions or processes from the ground up