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Formation Bio, a venture-backed AI-driven pharma company founded in 2016, is seeking a Director of Financial Reporting to lead all financial reporting functions and manage the company's financial close and audit processes. The role is a senior, hands-on position reporting to the CFO, responsible for owning the preparation of annual US GAAP financial statements, including footnotes, disclosures, and supporting workpapers. The Director will lead the financial close process, manage complex consolidations under ASC 810, and serve as the primary point of contact for external auditors.
Key responsibilities include: preparing and reviewing manual and non-routine journal entries; determining and documenting complex accounting transactions including stock-based compensation and accruals; translating new business activity into operational close processes; implementing technical accounting conclusions into calculations, entries, and recurring processes; maintaining accounting for financial instruments, equity issuances, leases, and licensing transactions; assembling audit-ready workpapers; and supporting the audit of the company's separately audited venture fund.
The position begins as a senior individual contributor role with the opportunity to build and manage reporting resources as the organization scales. The ideal candidate is well-versed in financial reporting, financial close, and consolidations, with the ability to convert complex accounting conclusions into clear action items and repeatable processes. This is a critical finance leadership role at a high-growth biotech company backed by top-tier investors including a16z, Sequoia, Sanofi, and Thrive Capital.
