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Director of Technical and Transaction Accounting

New York, NY

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:

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

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.

Responsibilities

Technical Accounting Leadership and Transaction Support

  • Leads all technical accounting research, analysis, and documentation for complex transactions under ASC 606, 810, 323, and 730
  • Partners with the CFO, Legal, and Business Development on licensing, collaboration, spinout, and investment structures
  • Drafts and maintains technical accounting memos and white papers for audit and investor purposes
  • Assesses accounting implications of proposed deal structures and advises leadership on optimal structuring approaches
  • Coordinates with external auditors on technical accounting conclusions and audit support

Biotech-Specific Accounting Expertise

  • Oversees application of GAAP to biotech R&D activities, including clinical trial accruals, collaboration cost-sharing, milestone recognition, and in-process R&D
  • Develops and enforces policies for upfront license revenue recognition, and milestone treatment under ASC 606
  • Partners with Director of Accounting, R&D, FP&A, and clinical operations to ensure accurate financial treatment of scientific and development activities
  • Advises on IPR&D capitalization and purchase accounting for in-licensing and M&A transactions

Consolidation, Investments, and Entity Structuring

  • Analyzes control, ownership, and consolidation implications under ASC 810 for new and existing subsidiaries, SPVs, and joint ventures
  • Leads assessment of equity method investments under ASC 323, including identification of significant influence and valuation considerations
  • Develops intercompany accounting policies and documentation supporting consolidation and minority interest accounting
  • Supports the Director of Accounting in ensuring accurate consolidated reporting across complex multi-entity structures

Policy Development, Documentation, and Audit Readiness

  • Authors and maintains the company’s technical accounting policy library covering key areas of biotech, fund, and investment accounting
  • Implements processes for consistent application of GAAP across entities and transactions
  • Prepares audit-ready documentation packages for all significant judgments and technical positions
  • Coordinates with Director of Accounting and external auditors to resolve complex technical issues efficiently

Cross-Functional Partnership and Continuous Improvement

  • Collaborates with FP&A, Legal, Business Development, and Operations to anticipate accounting implications of business initiatives
  • Assists the Director of Accounting in enhancing internal controls and reporting precision
  • Participates in accounting system upgrades and automation initiatives as the technical accounting subject-matter expert
  • Mentors accounting team members in developing GAAP fluency and technical documentation skills

About You

  • 10+ years of progressive accounting experience, including Big Four public accounting background
  • CPA required
  • Significant biotechnology or life sciences experience required
  • Deep knowledge of US GAAP and expertise in ASC 606 (Revenue Recognition), ASC 810 (Consolidation), ASC 323 (Equity Method), and ASC 730 (R&D)
  • Experience drafting and reviewing technical accounting memoranda and supporting complex audit positions
  • Strong communication skills — able to translate technical concepts to non-accounting stakeholders
  • Demonstrated ability to work cross-functionally in fast-paced, deal-oriented environments

Nice to Have

  • Experience supporting biotech licensing, collaborations, or M&A transactions
  • Familiarity with fund or investment structures (e.g., joint ventures, co-development entities)
  • Strong analytical and writing skills with exceptional attention to detail
  • Intellectual curiosity and the ability to anticipate accounting issues before they arise

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.

Compensation:

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.

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