Finance

Formation Bio is a tech and AI driven pharma company differentiated by radically more efficient drug development.

Advancements in AI and drug discovery are creating more candidate drugs than the industry can progress because of the high cost and time of clinical trials. Recognizing that this development bottleneck may ultimately limit the number of new medicines that can reach patients, Formation Bio, founded in 2016 as Trial Spark Inc., has built technology platforms, processes, and capabilities to accelerate all aspects of drug development and clinical trials.

Formation Bio partners, acquires, or in-licenses drugs from pharma companies, research organizations, and biotechs to develop programs past clinical proof of concept and beyond, ultimately helping to bring new medicines to patients. The company is backed by investors across pharma and tech, including a16z, Sequoia, Sanofi, Thrive Capital, John Doerr, Spark Capital, SV Angel Growth, and others.

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At Formation Bio, our values are the driving force behind our mission to revolutionize the pharma industry. Every team and individual at the company shares these same values, and every team and individual plays a key part in our mission to bring new treatments to patients faster and more efficiently.

Formation Bio is hiring a Director of Financial Reporting to lead financial reporting functions, prepare technical accounting analysis, lead complex financial close functions and manage audit process.

This is a senior, hands-on position for someone who is well versed in financial reporting, financial close and consolidations and can convert complex accounting conclusions into clear and simplified action items and processes. The Director is responsible for GAAP compliant ASC 810 consolidation, prepares the financial statements and footnotes, converts technical accounting conclusions into calculations, entries, work papers and repeatable processes, manages the day-to-day flow of the external audit, and supports the reporting and audit of the company’s separately audited venture fund.

The role begins as a senior individual contributor position with the opportunity to build reporting resources as the organization scales.

• Own preparation of the annual US GAAP financial statements, including footnotes, disclosure, supporting work papers, calculations and tie-outs.
• Own the financial reporting process, including coordination of cross functional stakeholders.
• Prepare supporting analysis for board reporting, and investor and data room financial information requests.

• Prepare and review manual, non-routine and period-end journal entries arising from non-routine transactions.
• Determine and document non-routine and/ or judgmental accounting transactions, including, accruals, stock based compensation and other judgemental transactions.
• Lead consolidation process and entries for complex organizational structure, including application of ASC 810.
• Review complex account reconciliations and related close documentation.
• Translate new business activity and new accounting conclusions into operational close processes, then implement them.
• Lead year-end GL preparation for audit.

• Assist with preparing technical accounting analysis for complex transactions and complex accounting matters. Write technical accounting memos.
• Convert approved technical accounting conclusions into calculations, work papers, journal entries, disclosures and recurring processes, and ensure such accounting conclusions are reflected properly in the books and records.
• Implement and maintain the accounting for financial instruments, equity issuances, share-based compensation, noncontrolling interests and other ASC 810 matters, leases, licensing transactions and other business development transactions.
• Prepare accounting policy manual and document accounting policy decisions.

• Serve as the day-to-day point of contact for the external auditors. Coordinate audit requests, gather information, and manage the flow of information and support to the auditors.
• Respond to audit…