Formation Bio

Formation Bio

Director, Financial Reporting

New York, NY; Boston, MA · Director

Sponsorship not specified$186k-$232kDetected 2 days ago
SparkBusiness DevelopmentFinancial AnalysisAccountingAuditingERPResearchCommunicationCollaborationGAAPFinancial ReportingInternal AuditNetSuite

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odds of building a lasting career here

59Sponsors, lottery-bound
Cap-exempt (no lottery)0
Sponsors this role80
Entry-level history0
PERM / green-card track0
Lottery odds (Level IV)94
Fits your clock70

Sponsors, but it's cap-subject — you still face the weighted lottery (~61% per draw at Level IV). Good if you win; have a cap-exempt backup on your list.

Lottery odds assume a STEM candidate.

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About the role

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

Responsibilities

  • Own the financial reporting process, including coordination of cross functional stakeholders.
  • Lead consolidation process and entries for complex organizational structure, including application of ASC 810.
  • Translate new business activity and new accounting conclusions into operational close processes, then implement them.
  • Lead year-end GL preparation for audit.
  • 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.
  • Assemble audit-ready workpapers and support packages for the financial statements, footnotes, complex entries and other significant accounting areas.
  • Support the resolution and remediation of audit findings.
  • Support reporting and accounting for the company's special purposes financial statements, which is serviced by a third-party fund administrator.
  • Support capital call and capital transaction accounting.

Requirements

  • Experience in Consolidation of a complex organizational structure.
  • Ability to run multiple reporting and audit workstreams simultaneously, work independently at both a detailed and strategic level, and constructively challenge auditors, consultants and internal stakeholders.
  • Ten or more years of progressive accounting experience, including direct responsibility for preparing audited US GAAP financial statements and footnotes and for supporting an external audit.
  • Experience in technical accounting, preferably as part of an in-house corporate accounting group.
  • Demonstrated ability to convert complex accounting guidance into practical calculations, journal entries, disclosures and repeatable processes, with experience including the following: consolidations (including experience with VIEs), noncontrolling interests and other ASC 810 issues, financial instruments, liability and equity accounting, share-based compensation, revenue recognition, ASC 820 fair value, licensing and collaboration arrangements, leases, capitalized software and R&D related accounting,.
  • Ability to prepare clear, concise technical accounting memoranda and organized, audit-ready workpapers and financial statement support.
  • NetSuite, or other comparable ERP experience and strong spreadsheet skills.
  • Biotechnology, pharmaceutical or broader life sciences experience.

Nice to have

  • Big Four or comparable public accounting experience strongly preferred.

Compensation

  • Individual compensation is determined by several factors, including role scope, geographic location, and skills & experience.
  • In addition to base salary, we offer equity, comprehensive benefits, and generous perks.
  • $185,500 - $232,000
  • Own preparation of the annual US GAAP financial statements, including footnotes, disclosure, supporting workpapers, calculations and tie-outs.
  • Support coordination of the fund's annual audit against the corporate audit timeline.

Benefits

  • Determine and document non-routine and/ or judgmental accounting transactions, including, accruals, stock based compensation and other judgemental transactions.

Company info

  • You can read more at the following links: - Our Vision for AI in Pharma - Our Current Drug Portfolio - Our Technology & Platform 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.
  • We are an equal opportunity employer and welcome candidates from all backgrounds.

Equal opportunity

  • Formation Bio is committed to building a diverse and inclusive team. We are an equal opportunity employer and welcome candidates from all backgrounds. All qualified applicants will receive consideration for employment without regard to race, color, creed, religion, national origin, ancestry, sex (including pregnancy, childbirth, breastfeeding, and related medical conditions), gender identity or expression, sexual orientation, age, disability, genetic information, marital status, military or veteran status, or any other characteristic protected by federal, state, or local law.
  • We've seen a rise in recruiting impersonation scams across the industry, where fake profiles pose as recruiters aiming to trick candidates into sharing personal and financial information through illegitimate interviews and job offers. All legitimate recruiting communications from Formation Bio will come from a @formation.bio email address. If you receive outreach from someone claiming to work at Formation Bio through any other domain or channel, please disregard it and do not share any personal information.
  • Formation Bio is committed to building a diverse and inclusive team.
  • All qualified applicants will receive consideration for employment without regard to race, color, creed, religion, national origin, ancestry, sex (including pregnancy, childbirth, breastfeeding, and related medical conditions), gender identity or expression, sexual orientation, age, disability, genetic information, marital status, military or veteran status, or any other characteristic protected by federal, state, or local law.
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