Director of Financial Reporting, Formation Bio

• CPA
• 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
• Big Four or comparable public accounting experience strongly preferred
• 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,
• Experience in Consolidation of a complex organizational structure
• Ability to prepare clear, concise technical accounting memoranda and organized, audit-ready workpapers and financial statement support
• 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
• NetSuite, or other comparable ERP experience and strong spreadsheet skills
• If the posted range doesn't match your expectations, we still encourage you to apply!

Desirable

• 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, workpapers 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 workpapers, 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, workpapers, 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 inquiries, escalating significant and technical matters
• 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
• Establish policy, resolve and document accounting issues related to special purpose financial statements. Coordinate with third-party fund administrator
• Review and comment on the fund financial statements, reconcile administrator reporting to internal records
• Support coordination of the fund’s annual audit against the corporate audit timeline
• Establish and maintain controls around complex and non-routine transactions
• Raise the standard of internal controls and related documentation for significant accounting and reporting processes, as well as the quality of support behind significant accounting areas
• Drive the establishment of audit-ready documentation as a standing practice
• Provide execution capacity on complex, ongoing accounting processes, including those arising from business development activity and other non-routine transactions
• Work with Legal, Business Development, R&D and Clinical Operations to understand new contracts, arrangements and study activity, and reflect them accurately in the accounting records
• Build capabilities and provide training across the Finance team to drive quality and effectiveness in Finance output