Director Restructuring

Alvarez & Marsal

Job information

Company: Alvarez & Marsal

Location: London

Education: Postgraduate degree

Benefits: Competitive

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Director, Restructuring

Alvarez & Marsal

London

In today's unprecedented global economic uncertainty, businesses face an increasing array of challenges.  For nearly three decades, clients have trusted Alvarez & Marsal to work with them to help solve their most important business problems. We have earned this trust by giving every problem the utmost senior-level attention; by researching and understanding the facts before drawing conclusions; by our steadfast commitment to objectivity; and by demonstrating time and again that great leadership makes all the difference.

Alvarez & Marsal is a privately held, owner-operated, global advisory partnership best known for its heritage in corporate restructuring and, more recently, for leading the value recovery efforts of Lehman Brothers, the largest bankruptcy in financial history. The firm has been growing organically over the last decade from a best in class restructuring boutique to one of the fastest growing, independent global professional services firm that brings a wide range of operational, financial and performance improvement services to private equity and strategic companies across the industry spectrum.

Through our Turnaround and Restructuring practice, Alvarez & Marsal offers critical assistance to companies that are under-performing or experiencing a full blown liquidity crisis.  Working directly with company management, Alvarez & Marsal helps stabilise financial and operational performance by developing and implementing comprehensive profitability and working capital improvements. Alvarez & Marsal's involvement reassures creditors that the company is taking important steps to address its problems and maximise its value.

Reason for the opportunity

Against this backdrop, our Turnaround and Restructuring practice has experienced unprecedented growth and therefore, an opportunity exists for us to strengthen the team at the Director level in order to provide resources and leverage to a growing and highly experienced Senior Management team.

We work with senior lenders, high profile financial institutions, leading Global private equity houses and multi-national companies.  We pride ourselves on listening to our clients, understanding their business and combining solutions and implementation to preserve and generate value for our client’s businesses.  Our goal is to improve cashflow and EBITDA and to provide earnings benefits through hands-on involvement in our clients’ operations and transactions. Furthermore, our job is to support senior lenders, bank syndicates and hedge funds and senior management teams in a variety of European and Global businesses to ensure their companies have credible plans and the ability to execute and deliver the financial results required.

To this end, we are seeking talented, ambitious, entrepreneurial recruits who are interested in developing their careers in the much sought after turnaround and restructuring space.

Critical Capabilities

Typically, successful appointees into the Turnaround and Restructuring team are action oriented self-starters with entrepreneurial flair. They are comfortable working independently as well as in a high performing team. Excellent financial skills, analytical rigour and a demonstrable track record of success are critical. The successful candidate will be adept at building short term /13 week cash flow forecasts and will have a firm understanding of cash drivers, liquidity management and capital structure.

A working knowledge of corporate finance in restructurings and insolvency regimes is preferable as is an understanding of the capital structure and P&L and asset efficiency (working capital) performance improvement processes.

He/she will also possess excellent negotiating skills, ideally gained in a restructuring environment, particularly in the context of negotiating with lenders and bank syndicates, commercial / supplier agreements, closure of an entity/divestment of assets, or dealing with investors and shareholders.

Ultimately, the appointee will be recognized by the client as the lead for value contributed on engagements and therefore build his/her own credible network of contacts and referral sources with clients, professionals and institutions. He/she will also play a key role in assisting the SBU leadership team in identifying and pursuing other market opportunities.

More specifically, the preferred candidate will have experience in the following areas;

  • Turnaround Management, including business plan development, financial projections development and review, designing and implementing cash conservation guidelines and controls
  • Collaborating with SBU leaders and company management on interim and crisis management assignments – often undertaking the interim management responsibility. These roles will include designing contingency plans and implementing and managing short-term cash flow
  • Working with clients through the full spectrum of complex issues that arise in restructurings including valuation analysis, capital raising, mergers and acquisitions, creditor negotiations, exchange offers and Chapter 11 re-organisations
  • Reviewing company performance figures, mining and analysing data to develop fact based analysis to examine the root cause of problems
  • Creditor advisory, including the analysis of business plans, cash flow risks and opportunities, post-business plan performance monitoring, review and assessment of restructuring alternatives and business valuations
  • Coaching and developing more junior members of the team as well as managing upwards across the relevant MD/SBU community

In addition, successful hires can demonstrate the following capabilities;

  • Robust understanding of corporate finance, accounting and business plan modelling
  • Understanding of creditor perspective on restructuring and financial restructuring process
  • Can fulfil interim management roles as Treasurer, CFO or CRO with close MD oversight
  • Demonstrate recent, relevant leadership experience in a bankruptcy or turnaround situation
  • Connections and exposure to lending and legal communities, associated with restructuring
  • Can conduct an initial rapid diagnostic into the company's immediate and future cash needs, product profitability, cost base, major operational issues, market position and options for restructuring
  • Developing and implementing a new operating plan to restructure the business and improve operational performance
  • Can lead small cases and stand-alone work streams of large cases with close MD oversight

Personal Style

  • Thrives in a fast-paced, challenging, and uncertain environment with a high tolerance for ambiguity
  • Excellent written and verbal communications skills, confident, charismatic and impactful presenter
  • Objective, fact based approach to problem solving
  • Hands-on and non-hierarchical operator who is equally effective in managing up and down and relates well at all levels and cultures
  • Driven by values and integrity, straight talker, builds confidence and leads by example
  • Demonstrable ability to balance a high level view with detail
  • Can quickly establish credibility at both board and working capital level – the successful appointee will have substantial operational business experience, not just the theoretical view
  • A natural ability to prioritise – especially in highly pressurised situations
  • Integrity - even when the message is unpopular, but right for the situation at hand
  • Autonomous – Alvarez & Marsal has a flat structure with a self-sufficient culture
  • Entrepreneurial spirit
  • Can keep a cool head in pressurised situations and how to balance diplomacy with tough messages

Academics and qualifications

  • Strong academics in addition to a Bachelor’s degree from an accredited university
  • ACA qualified in addition to experience gained within the Big 4
  • Experience in restructuring/corporate recovery or transactions and / or work outs, leveraged buy-outs in a leading financial institution are essential
  • Fluency in one or more European languages is highly desirable

Talent, culture and values

Attracted by our meritocratic culture and the opportunity to build a business with like-minded individuals, our people have joined Alvarez & Marsal from the Big 4, top tier strategy houses, private equity firms, hedge funds, leading financial services institutions  and industry and commerce. Alvarez & Marsal is a fact based business, based on pragmatism, not subjective about the meaning of success. It is an environment that presents a real opportunity for ambitious recruits to grow and thrive – and those who do well, earn well. At A&M you will be given real responsibility as there are thin layers of management.  You will thrive on autonomy and you will be adept at anticipating what your audience needs.

Our people come from a variety of backgrounds and have built their credentials through careers that combine experience in industry management roles and professional services.  Alvarez & Marsal has a proven track record of managing complex, high profile situations and delivery through assured leadership, world class expertise and successful execution.  The culture of the business offers variety of skill, language, heritage and professional background and therefore is unique in terms of style and approach.  This is a business where your colleagues are your best allies and ideally, your best friends. A business where good friendships thrive and trust is as true internally as with client. Furthermore, the values of the business which include integrity and fun as well as just reward for great work comes to life when you become part of the team.

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Voluntary Inclusion


It is Alvarez & Marsal’s policy to provide and promote equal opportunity in employment, compensation, and other terms and conditions of employment without discrimination because of race, color, sex, sexual orientation, family medical history or genetic information, political affiliation, military service, pregnancy, marital status, family status, religion, national origin, age or disability or any other non-merit based factor in accordance with all applicable laws and regulations.

Unsolicited Resumes from Third-Party Recruiters

Please note that as per A&M policy, we do not accept unsolicited resumes from third-party recruiters unless such recruiters were engaged to provide candidates for a specified opening. Any employment agency, person or entity that submits an unsolicited resume does so with the understanding that A&M will have the right to hire that applicant at its discretion without any fee owed to the submitting employment agency, person or entity.

Job information

Company: Alvarez & Marsal

Location: London

Education: Postgraduate degree

Benefits: Competitive

Apply

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