About Formation Bio
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 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. 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.
About the Position
As a Senior Strategic Finance Associate at Formation Bio, you will drive significant financial modeling and forecasting projects, along with ad-hoc analyses to support strategic decision making. Reporting to the Director of Strategic Finance, you will collaborate with key stakeholders across the organization to help the CFO and Leadership team gain essential insights into our business. As a strategic and analytical member of the Finance team, you have a passion for continuous improvement and can execute seamlessly in a fluid, fast-paced startup environment.
Responsibilities
Financial Planning & Analysis (FP&A):
- Own and maintain financial models to understand how actuals compare to rolling forecasts
- Support annual corporate budgeting and program budgeting process
- Partner with the accounting team on monthly financial reporting, variance analysis, and the finance close process
- Collaborate with key stakeholders cross-functionally to implement the FP&A system and continuously improve financial processes
Strategic Finance:
- Manage the corporate long-range financial model, incorporating near-term financial projections from FP&A workstreams and developing scenarios for the long-range plan to support Leadership in their strategic decision making
- Build and manage financial models for drug programs and their investment return profiles (rNPV, MOIC, and IRR)
- Support Leadership and BD team in evaluating business development and in-licensing of drug asset opportunities
- Collaborate with the Tech team to develop a value creation framework and ROI analysis, supporting project prioritization with quantitative rigor
- Assist in fundraising efforts and help craft a compelling financial and valuation story for the company
- Lead ad-hoc strategic initiatives driven by the CFO and Leadership
About You
- Exceptional financial modeler with robust corporate finance knowledge
- Ability to translate qualitative narratives into quantitative financial models with limited guidance
- Current analyst or graduate of a 2-year investment banking analyst program, or with similarly rigorous experience in consulting or professional services
- Experience in strategic or corporate finance roles is a plus
- Experience in a startup environment and/or drug development industry is a plus
- Excited about being part of an organization that prioritizes up-leveling corporate finance functionality through system implementation and continued process improvement
- Passionate about working at an organization that takes AI seriously and seeks to integrate it across all functions, including finance
- Scrappy, a fast learner, and not intimidated to roll up your sleeves to get things done
We offer competitive compensation because we want to hire the best people and reward them for their contributions to our mission. We pay all employees competitively relative to the New York City market, regardless of their location. In compliance with NYC’s pay transparency law and in pursuit of pay equity and fairness, we publish salary ranges for all open roles at Formation Bio. The target salary range for this role is $124,000 - $150,000.
On top of base salary, we also offer equity, generous perks, location flexibility, and comprehensive benefits – learn more about them and our compensation philosophy here.
If this range doesn’t match your expectations, please still apply because we may have something else for you.
#LI-hybridYou 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.
