Senior Consultant, Healthcare Services

Alvarez & Marsal (A&M) is a premier, independent, global professional services firm specializing in advising organizations on solving complex business problems, including turnaround management, restructuring, operational and financial performance improvement, strategy and value creation.

The Healthcare Industry Group, a subsidiary of A&M, is at the forefront of delivering transformational change to the healthcare industry. Known as an established leader that delivers tangible results for healthcare executives, boards, private equity firms, investors, law firms and government agencies, our professionals advise organizations on financial and operational performance improvement, strategic growth and unlocking value across the investment lifecycle. Our team provides additional expertise in interim management, restructuring, revenue cycle management, mergers and acquisitions, compliance and regulatory, digital technology and analytics.

You will have the opportunity to work with clients in a variety of sectors including health systems and providers, physician groups, ancillary providers, medical schools, vision, laboratory, dental and behavior health; managed care and health plans, government plans and programs, healthcare investors and lenders, medical devices, healthcare suppliers and infrastructure, and life sciences.

HIG’s Healthcare Services practice (HCS), with offices throughout the US, focuses on serving private equity firm’s portfolio companies and public and private healthcare companies. Our HCS services include performance improvement/operational turnarounds, cost optimization, M&A services, finance operations, and interim management (including CFO services):

Performance Improvement/Operational Turnaround: Whether serving in interim management roles or in a performance improvement advisory capacity, we draw on deep operational heritage and proven approaches (such as our proprietary rapid results diagnostic) to assess businesses and identify key areas impeding performance quickly and effectively.

Cost Optimization: A&M’s cost optimization program is a holistic, cross-functional approach that focuses on quickly identifying high-impact opportunities for EBITDA and cash flow improvements across the entire cost structure. A&M’s cost optimization focuses on driving significant improvements in cost structure by providing full transparency on cost and margin profiles to simplify and streamline the business and increase the efficiency of overhead costs.

M&A Services: A&M supports companies throughout the M&A lifecycle, including conducting operational/synergy due diligence, integration planning and execution, as well as divestiture and carve-out planning and execution.

Finance Operations: A&M drives improvement to its clients’ finance operations, including management reporting and optimization of the month-end close process.

Interim Management: In select instances, one of HCS’s experienced operators may step into an interim role (i.e. CEO, COO, CFO) to drive change while a full-time replacement is being recruited.

What will you be doing?

As a Senior Associate you will be working closely with healthcare clients on a range of complex assignments. You will use your independent judgement and critical thinking skills to gather data, design practical solutions and drive financial and operational improvements to add value based on client needs. Depending on the client project the responsibilities of a Senior Associate may typically include:

1. Quickly identifying and implementing opportunities to significantly reduce cost structure by redesigning org structures, identifying and minimizing/eliminating non-value-added tasks and refocusing the business on most value added tasks
2. Optimizing client's month-end close process and management reporting functions to better support ongoing management decisions
3. Rapidly building and managing financial models and conducting financial and operating analyses (synergy analyses, 13 week cashflow, and/or pro forma financial statements)
4. Providing guidance to manage a client through crisis and/or quick solutions and time frames by assisting in structuring and executing on a performance improvement plan
5. Developing operational data analysis to develop KPI metrics to track and drive meaningful change. Conducting client interviews to gain an understanding of and evaluate aspects of client situation and operations
6. Effectively summarizing, drawing conclusions and creating recommendations from large data sets or analyses
7. Leading various work streams within a project, including managing day to day engagement priorities with guidance from senior leaders
8. Preparing client-ready deliverables and presentations; making presentations to clients
9. Coaching and mentoring junior staff both formally and informally
10. Building relationships with clients and seeking opportunities to expand the scope of business
11. Supporting marketing initiatives by assisting with the pitch preparation process and creation of marketing materials
12. Helping to build product and service offering tools and templates
13. Working as a partner to our clients by building consultative relationships you will develop an in-depth understanding of the client’s processes, financial positions and key operational performance drivers in order to surface and address key issues, from the big picture to the smallest details.

Who will you be working with?

We are not your typical consulting firm. We are entrepreneurial, action oriented and results driven professionals who take a hands-on approach to solving our clients’ problems and helping them drive value and growth. We are nimble, resourceful, proactive, can pivot to adapt quickly, when needed, and develop plans that drive real results. You will be part of a team that is passionate about delivering transformational change and making an impact in the healthcare industry.

How will you grow and be supported?

As a Senior Associate within the Healthcare Industry Group, you will have the opportunity to take your career to the next level by gaining invaluable industry experience while enhancing and expanding your skillset. As part of our team, you will collaborate with many experienced professionals who will provide you with developmental feedback and growth opportunities.

We work with each of our employees to create a customized career development plan to ensure you are matched with professional growth opportunities that meet your unique needs and accelerate your career. We offer a variety of live and virtual training programs, access to best-in-class on-demand training, ongoing on-the-job coaching, a transitional coach to help you acclimate to the practice, and partnership with a mentor who will guide you through your career.

Our Healthcare team prides itself on sustaining a culture that reflects our core values: Integrity, Quality, Objectivity, Fun, and Inclusive Diversity. We value integrity, quality, and objectivity in our work. We like what we do and with whom we do it. We embrace diversity, foster inclusiveness, and reward merit. We encourage and support our employees and communities through ongoing investments from leadership, social and networking events, peer-to-peer networks, Employee Resource Groups, volunteer opportunities and pro-bono work. We are committed to promoting an inclusive environment in which all can develop, grow, and be supported.

Alvarez & Marsal offers competitive benefits and opportunities to support your personal and professional development.

Who are we looking for?

We are seeking someone to join our team with an entrepreneurial and collaborative mindset who will manage ambiguity and thrive in a fast-paced environment. As a Senior Associate you will have the opportunity to demonstrate your leadership, integrity and objectivity when interacting with clients at all corporate levels:

1. High energy individuals with a passion for healthcare and solving complex issues
2. A minimum of five (5) years of prior work experience in healthcare, consulting or healthcare industry such as healthcare banking, accounting, audit, private equity, or healthcare operations with a healthcare focus
3. Advanced level of Excel proficiency and experience in financial modeling a must; the ability to build 13-week cash flow forecast and three statement model from scratch is a plus
4. Advanced Microsoft PowerPoint and Excel skills a must; experience with Visio, Tableau or Power BI, SQL, SPSS, benchmarking is a plus
5. Solid project management and organizational skills
6. Working knowledge of healthcare industry, including a fundamental understanding of healthcare finance, operations, valuation and various laws and regulations is a must
7. Ability to use sound judgment and escalate project issues to project managers or engagement leaders
8. Ability to coach and mentor junior staff
9. Excellent verbal and written skills, with the ability to communicate with and present information to all levels of client personnel
10. Willingness and ability to travel as required
11. BA/BS degree and/or MBA/MS in Accounting, Finance, or other related healthcare fields such as MHA or MPH
12. Professional certifications such as Certified Public Accountant (CPA), Chartered Financial Analyst (CFA), or demonstrated progress toward such certifications

Compensation Statement

The annual base salary range is $125 – $150k commensurate with experience. In addition, A&M offers a discretionary bonus program which is based on a number of factors, including individual and firm performance. Please ask your recruiter for details.

Regular employees working 30 or more hours per week are also entitled to participate in Alvarez & Marsal Holdings’ fringe benefits consisting of healthcare plans, flexible spending and savings accounts, life, AD&D, and disability coverages at rates determined from time to time as well as a 401(k) retirement plan. Provided the eligibility requirements are met, employees will also receive a discretionary contribution to their 401(k) from Alvarez & Marsal. Additionally, employees are eligible for paid time off including vacation, personal days, seventy-two (72) hours of sick time (prorated for part time employees), ten federal holidays, one floating holiday, and parental leave. The amount of vacation and personal days available varies based on tenure and role type.

Alvarez & Marsal recruits on an ongoing basis. Candidates are considered as they apply, until the opportunity is filled. Candidates are encouraged to apply expeditiously to any role(s) that they are qualified for and that are of interest to them.

A&M’s entrepreneurial culture celebrates independent thinkers and doers who can positively impact our clients and shape our industry. The collaborative environment and engaging work—guided by A&M’s core values of Integrity, Quality, Objectivity, Fun, Personal Reward, and Inclusive Diversity—are the main reasons our people love working at A&M. Inclusive Diversity means we embrace diversity, and we foster inclusiveness, encouraging everyone to bring their whole self to work each day. It runs through how we recruit, develop employees, conduct business, support clients, and partner with vendors. It is the A&M way.

It is Alvarez & Marsal’s practice to provide and promote equal opportunity in employment, compensation, and other terms and conditions of employment without discrimination because of race, color, creed, religion, national origin, ancestry, citizenship status, sex or gender, gender identity or gender expression (including transgender status), sexual orientation, marital status, military service and veteran status, physical or mental disability, family medical history, genetic information or other protected medical condition, political affiliation, or any other characteristic protected by and in accordance with applicable laws.