Director, Technical Accounting

Director, Technical AccountingFormation 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 TrialSpark 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, Sam Altman, John Doerr, Spark Capital, SV Angel Growth, and others.We are seeking a Director of Technical and Transaction Accounting with deep biotech industry experience and Big Four training to own the company's most complex accounting judgments. This individual will serve as the in-house authority on GAAP application across licensing, collaboration, and investment transactions, and will work closely with the CFO, Director of Accounting, and Business Development teams to ensure deals are structured, documented, and reported with precision.This role is ideal for a technically excellent accountant who enjoys solving complex transaction puzzles, thrives in a biotech environment, and wants to influence how deals and entities are designed from an accounting perspective.Key Areas of ResponsibilityLeads all technical accounting research, analysis, and documentation for complex transactionsPartners with the CFO, Legal, and Business Development on licensing, collaboration, spinout, and investment structuresDrafts and maintains technical accounting memos and white papers for audit and investor purposesAssesses accounting implications of proposed deal structures and advises leadership on optimal structuring approachesCoordinates with external auditors on technical accounting conclusions and audit supportOversees application of GAAP to biotech R&D activities, including clinical trial accruals, collaboration cost-sharing, milestone recognition, and in-process R&DDevelops and enforces policies for upfront license revenue recognition, and milestone treatmentPartners with Director of Accounting, R&D, FP&A, and clinical operations to ensure accurate financial treatment of scientific and development activitiesAdvises on IPR&D capitalization and purchase accounting for in-licensing and M&A transactionsAnalyzes control, ownership, and consolidation implications for new and existing subsidiaries, SPVs, and joint venturesLeads assessment of equity method investments, including identification of significant influence and valuation considerationsDevelops intercompany accounting policies and documentation supporting consolidation and minority interest accountingSupports the Director of Accounting in ensuring accurate consolidated reporting across complex multi-entity structuresAuthors and maintains the company's technical accounting policy library covering key areas of biotech, fund, and investment accountingImplements processes for consistent application of GAAP across entities and transactionsPrepares audit-ready documentation packages for all significant judgments and technical positionsCoordinates with Director of Accounting and external auditors to resolve complex technical issues efficientlyCollaborates with FP&A, Legal, Business Development, and Operations to anticipate accounting implications of business initiativesAssists the Director of Accounting in enhancing internal controls and reporting precisionParticipates in accounting system upgrades and automation initiatives as the technical accounting subject-matter expertMentors accounting team members in developing GAAP fluency and technical documentation skillsQualifications10+ years of progressive accounting experience, including Big Four public accounting backgroundCPA requiredSignificant biotechnology or life sciences experience requiredDeep knowledge of US GAAPExperience drafting and reviewing technical accounting memoranda and supporting complex audit positionsStrong communication skills able to translate technical concepts to non-accounting stakeholdersDemonstrated ability to work cross-functionally in fast-paced, deal-oriented environmentsPreferred AttributesExperience supporting biotech licensing, collaborations, or M&A transactionsFamiliarity with fund or investment structures (e.g., joint ventures, co-development entities)Strong analytical and writing skills with exceptional attention to detailIntellectual curiosity and the ability to anticipate accounting issues before they ariseWhy Join UsThis is a high-impact technical role at the intersection of biotech innovation and complex financial structuring. You will work directly with senior leadership to shape how cutting-edge transactions are designed, accounted for, and reported - ensuring our financial reporting reflects both the economic reality and strategic intent of the company's activities. This position offers the opportunity to apply deep accounting expertise to some of the most sophisticated deals in biotech, while contributing to the success of programs that advance new medicines.Formation Bio is prioritizing hiring in key hubs, primarily the New York City and Boston metro areas. Please only apply if you reside in these locations or are willing to relocate.The target salary range for this role is: $205,000-$250,000. Salary ranges are informed by a number of factors including geographic location. The range provided includes base salary only. In addition to base salary, we offer equity, comprehensive benefits, generous perks, hybrid flexibility, and more. If this range doesn't match your expectations, please still apply because we may have something else for you.You will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status. #LI-hybrid