Senior Director, Business Operations & Strategy

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Job description

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

The Business Operations & Strategy Team at Formation Bio is responsible for helping to run, measure and change the business.

Run the Business The day to day work Business Operations & Strategy completes to a) connect our strategy to the daily execution b) keep the business running smoothly. Specifically:

• Own bi-annual planning & OKR processes
• Help create and refine our company wide and portfolio operating cadence so that we are planning, executing and communicating results and what we've learned on a defined schedule
• Rebuild and lead the Development Vendor Management function

Measure the Business The KPIs and milestones monitored to ensure processes are in control, improvements are identified and progress is measured. Specifically:

• Refine, measure and elevate KPIs that give Formation insights into company wide and functional execution from a cost / budget, quality and velocity perspective.
• Support functional teams in developing and implementing Monthly / Quarterly Business Reviews that enable better execution.
• Collaborate with Data Platform (Engineering), Biometrics, & the Data Governance Committee to ensure development functions have appropriate access to core business data and can act on the data provided

Change the Business The strategic projects Business Operations & Strategy conceives and executes to change the trajectory of Formations business. Specifically:

• Lead scalability and efficiency initiatives for the Development Team ensuring we are set up for future growth with a model that allows our company to achieve large pharma scale via technology
• Streamline Development operational processes from new asset diligence to asset sale so that it is measurably more efficient than ever before

Responsibilities

As the leader of the Business Operations & Strategy Team you will:

• Lead the Business Operations & Strategy team inclusive of Operations Strategy & Analytics and Development Vendor Management.
• Collaborate with the Extended Leadership Team (XLT) to identify, implement and measure the impact of corporate and functional strategic initiatives.
• Collaborate with various internal teams including, but not limited to: Finance, Technology, Data teams, People & Talent to drive functional and cross functional 0 to 1 and optimization initiatives.
• Lead bi-annual planning and the implementation and execution of supporting rituals including functional business reviews.
• Take on ambiguous challenges, apply the appropriate structure and deliver results.

About You

• You're intrigued by the intersection of Artificial Intelligence and Operational Excellence. You have ideas about how to leverage this technology to scale teams and individuals non-linearly.
• You've led BizOps teams at high-growth companies and understand what excellence looks like as a company scales beyond Series C.
• You're ready to, or have already led, bi-annual strategic planning and goal setting, engaging leaders and their teams across the organization.
• You're self-aware, understanding your strengths and how to improve your areas of growth.
• You have the capacity to switch between high-level strategic thinking and detailed execution, using your judgment to determine the appropriate approach. You can explain to our executive leadership team why a set of strategic initiatives is crucial, and can delve into the details to execute those strategic initiatives independently or with business partners.
• You're fearless. Leading teams, especially this one, at this stage in our evolution requires courage.
• You have experience leading high-profile cross-functional projects and excellent Project Management skills.
• You have 10+ years of experience in the biopharma industry or a similarly regulated space.
• Your technical SQL experience will allow you to support and coach an analytically focused team (ie. data modeling, building dashboards, general analysis)

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 $212,000 - $270,000.

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.

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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