Senior Strategic Finance Associate, Formation Bio
$124-150k
+ Equity.
2 days a week in office
End-to-end medical trial solutions
Open for applications
End-to-end medical trial solutions
101-200 employees
Open for applications
$124-150k
+ Equity.
2 days a week in office
101-200 employees
Company mission
To bring new treatments to patients faster and more efficiently.
Role
Who you are
- 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
What the job involves
- 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
- 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
- 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
Our take
Clinical drug trials are lengthy and expensive, delaying the supply of vital new drugs to patients and costing lives. For Formation Bio, this is an efficiency issue - one which it hopes to solve with its end-to-end automation solution.
According to the company, its approach has teams running medical trials twice as fast and at half the cost. It's worked so well, in fact, that Formation Bio is looking to take drug development in-house.
Now a Unicorn, the company has secured heavyweights like Pfizer, Sanofi, Novartis and 23andMe as partners. Precisely how it will fare in the Big Pharma ecosystem remains to be seen, but the promise of cheaper drugs and faster innovation is certainly causing a stir in a market that has historically been resistant to both.
Kirsty
Company Specialist
Insights
Company
Funding (last 2 of 3 rounds)
Jun 2024
$372m
SERIES D
Sep 2021
$156m
SERIES C
Total funding: $530.3m
Company values
- Think in first principles
- Be a scientist
- Deliver care
- Champion the mission
Company HQ
Midtown South, New York, NY
Articles
Leadership
Benjamine Liu
(CEO)Worked as a computational biologist at various Neurology departments, following a D.Phil in computational Biology and Psychiatry at Oxford. They are also an Advisor at Harvard Business School.
Salary benchmarks
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