at Marsh & McLennan Cos in Chicago, Illinois, United States
Job Description
Chicago, New York, Dallas or BostonTurnaround and Restructuring Associate
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WHO WE ARE
Oliver Wyman is a global leader in management consulting. With offices in more than 70 cities across 30 countries, Oliver Wyman combines deep industry knowledge with specialized expertise in strategy, operations, risk management, and organization transformation. The firm has more than 6,000 professionals around the world who work with clients to optimize their business, improve their operations and risk profile, and accelerate their organizational performance to seize the most attractive opportunities. Oliver Wyman is a business of Marsh McLennan [NYSE: MMC]. For more information, visit www.oliverwyman.com. Follow Oliver Wyman on Twitter @OliverWyman.
Marsh McLennan and its Affiliates are EOEMinority/Female/Disability/Vet/SexualOrientation/Gender Identity employers.
Experienced professionals bring us the know-how to make lasting change for our clients and our company. We are not typical 'management' consultants. We provide industry- and discipline-specific knowledge and expertise, which amplifies our impact and helps us shape the future for our clients. Oliver Wyman is a diverse, entrepreneurial, non-competitive partnership of individuals who like to pursue new opportunities or build a unique franchise doing what they do best in a collegial, fun environment. Oliver Wyman is a wholly owned subsidiary of Marsh & McLennan Companies [NYSE: MMC]. For more information, visit www.oliverwyman.com . Follow Oliver Wyman on Twitter @OliverWyman.
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PRACTICE OVERVIEW:
Backed by years of experience, Oliver Wyman acts as a trusted advisor to companies and investors as they take on the challenges of need for rapid transformation or restructuring taking a wholistic approach by incorporating expertise across the business including strategy, operations, process execution and financial restructuring.
We place a high priority on developing sustainable restructuring concepts that address both the market and the competitive environment as well as specific factors for success. Oliver Wyman acts as a leader for restructuring processes, as an objective expert and a neutral third party who provides quantitatively supported advice to address the interests of management, shareholders, lenders, and other stakeholders. With more than three decades of experience in strategic, operational, and financial restructuring, Oliver Wyman offers a complete management solution and "one-stop-shop" approach to turning around companies.
Deep Understanding of Restructuring Topics
In devising sustainably successful restructuring approaches for clients, Oliver Wyman draws on our deep base of knowledge about market trends and specific success factors, our far-reaching expertise in operational excellence methodologies, and our solid grasp of the needs and options of various financial sponsors (i.e., equity/borrowed capital). We take an integrated approach in this work, and we base our restructuring concepts on four pillars:
Strategic repositioning: The focus is placed on core markets and potentially profitable business fields. Business operations that destroy value will be closed or divested. Value-enhancement business model: Using our approach called value-driven business design, we optimize such business drivers as a company's customer, product, and technology portfolio, define core skills, and bring the organization into alignment with the strategy. Operational excellence: The focus is placed on lean organizations and processes. In particular, this work is aimed at simplifying production networks and increasing efficiency and effectiveness by applying such methodologies as LEAN and Six Sigma. In addition, purchasing and the entire supply chain are optimized. Financial restructuring: On the basis of the strategic repositioning work, the value-focused business model, and operational-excellence programs, we determine liquidity needs and the requirements for a sound capital structure through the use of integrated financial planning. This creates the foundation for a financing concept that optimally weighs the interests and decision-making freedom of all participating parties.
Firm Expertise and Implementation Capabilities
Oliver Wyman draws from a broad base of knowledge about industries and methodologies to help carry out restructuring projects in a quantitatively based and methodical manner. Areas of expertise include:
- Strategy & Growth
- Sales Efficiency
- R&D Productivity
- Production Optimization
- Lean Management
- Procurement & Supply Chain
- IT & Operations
- Organization & Processes
- Mergers & Acquisitions
- Program Management and Communication
THE ROLE AND RESPONSIBILITIES
Experienced professionals bring us the know-how to make lasting change for our clients and our company. We are not typical 'management' consultants. We provide industry- and discipline-specific knowledge and expertise, which amplifies our impact and helps us shape the future for our clients. Oliver Wyman is a diverse, entrepreneurial, non-competitive partnership of individuals who like to pursue new opportunities or build a unique franchise doing what they do best in a collegial, fun environment.
ASSOCIATE break down complex problems into discrete tasks, identifying the key aspects of a problem and directing the focus of junior consultants to those elements. You will effectively plan and execute analysis as well as identify the core issues in complex analyses in order to be able to craft suitable recommendations. You'll work side by side with clients and your project team members to move projects forward and manage small teams to get the work done. Clients and colleagues look to Associates for unique insight into the subject area which they have chosen
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YOUR ATTRIBUTES AND EXPERIENCE
Clients hire Oliver Wyman for specialized expertise, the ideal candidate will have most of the following:
- At least 4-6 years of relevant restructuring /distressed experience, ideally with a top tier restructuring firm (or similar organization).
- Strong financial analysis and modeling with experience building 3-statement type models and 13-week cash flow models.
- Excellent Microsoft Excel/PowerPoint skills
- A strong background in strategic problem solving with demonstrable analytical skills.
- Outstanding written and verbal communication skills in both formal and informal settings.
- An undergraduate or advanced degree from a top academic program and applicable professional certifications (i.e., CIRA, CFA, etc.) are preferred.
- Travel is required 80% of the time and willingness to work outside of normal business hours is a must.
- Know how to take the initiative, seeking out opportunities to learn new skills and put the ones you've already got to good use.
- Not just intelligence, but creativity too: you'll be ready to come up with novel ideas to solve our clients' biggest problems.
- Ability to work independently and with limited oversight with ability to quickly adopt to the changing environment is required.
- Must be able to build and develop relationships with the client and stakeholders with the company.
- Have an aptitude for analytical work, like sniffing out clues in massive data sets or hunting down the key issues in a hugely complex challenge.
- A willingness to work fluidly and respectfully with our incredibly talented team.
OUR VALUES & CULTURE
We're serious about making OW a rewarding, progressive, enjoyable and balanced place to work.
- Self starters and free thinkers who work well in a team
- Common aspiration, collective endeavor, shared success
- Straightforward, open, respectful interaction
- Opportunity without artificial barriers
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Balanced lives
We value people whose lives balance work and non-work activities because we believe they are both more interesting colleagues and are able to make better contributions to the Firm. We push ourselves hard to deliver excellence, but we also work to extract the maximum benefit from the flexibility of a project-based business. We provide the ability to take career breaks for personal or family reasons. We fundamentally value each other's time, and are sensitive to how it is used. We are an output not input-based culture, have respect for people's personal decisions, and believe that one's workload must be sustainable. We seek balance for ourselves and our colleagues.
HOW TO APPLY
If you like what you've read, we'd love to hear from you.
If you'd like to learn more about the firm during your application process, please visit www.oliverwyman.com/careers,
The applicable base salary range for this role is $155K to $195K.
The base pay offered will be determined on factors such as experience, skills, training, location, certifications, and education, and any applicable minimum wage requirements. Decisions will be determined on a case-by-case basis.
In addition to the base salary, this position may be eligible for performance-based incentives.
We are excited to offer a competitive total rewards package which includes health and welfare benefits, tuition assistance, 401K savings and other retirement programs as well as employee assistance programs.
