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Senior Associate, Banking Performance Improvement / Cost Reduction

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Location: London, United Kingdom
Date Posted: Jul 20, 2023

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Senior Associate, Banking Performance Improvement / Cost Reduction

Alvarez & Marsal


Alvarez & Marsal (“A&M”) is a global consulting firm with more than $2+ billion in revenues, c.7,500 staff and over 70 offices world-wide.  We offer a broad range of professional services including Restructuring, Transaction Advisory, Performance Improvement, Corporate Transformation, Financial Institutions Advisory, Tax, Valuations, and Disputes and Investigation Services. 

 At A&M, we believe in the power of diverse teaming to solve complex problems, create value and drive change for our clients. We are a global market leader, and we are differentiated as a firm by our professionals’ unique, varied backgrounds that allow us to serve our clients across the globe with both a practical and innovative approach.

A&M FSI works with leading Financial Services Institutions across Europe and our expertise revolves around four core areas: Performance Improvement, Loan Portfolio Advisory, Bank Restructuring and Regulatory Advisory. A&M provide assistance to clients that are underperforming or in need of a remediation, reorganisation or restructuring, helping clients navigate through complex and unique challenges that require thoughtful, tailored solutions. Our clients include banks, private equity investors, Insurance companies, regulatory authorities, wealth and asset managers and other specialist Financial Services firms.

A&M’s professionals work on some of the world’s most high-profile cases in a rapidly transforming financial services landscape, striving for game-changing solutions that provide impactful long-term change. Working directly with our client’s management, A&M's involvement reassures all stakeholders that the company is taking important steps to address its problems and to maximise its value.

Our FSI team is expanding, and opportunities exists at the Senior Associate level within our Performance Improvement team. The ideal candidates will have a successful track record of contributing to projects within the Banking sector specifically within cost reduction, target-operating-models, transformation plan creation and implementation, post-merger integrations and carve outs.

As part of a highly skilled team, you will have the opportunity to;

  • Contribute to a wide range of projects & work streams reporting directly to Managing Directors or Senior Directors
  • Participate in rapid diagnostics through analytical and qualitative insight to identify opportunities to reduce cost & improve client performance
  • Develop and execute transformation plans including new target operating models, post-merger integrations and carve outs, cost reduction and revenue enhancement opportunities
  • Carry out extensive financial modelling and analysis including cash flow models and projections
  • Synthesizing information into high quality client reports and recommendations
  • Gain ‘on the job’ learning & development in addition to established formal training programmes
  • Network with our service lines and work on external marketing events to build cross- service line relationships

The successful candidate will have the opportunity to be involved in business development activities and will join the team meetings where WIP, project pipeline, resourcing, marketing and business development initiatives are discussed. You will be actively involved in these discussions and be an integrated part of the FSI team.


  • Strong academic track record combined with an action-oriented approach and well-developed analytical skills
  • Previous experience within Banking advisory including cost reduction, target operating model design and transformation programmes is highly advantageous. This experience may have been gained at a leading consulting firm, a Retail or Investment Bank,  a Big 4 Firm or other respected Advisory firms
  • Well-developed financial modelling skills (Excel) and presentation skills (PowerPoint) essential and knowledge of Alteryx, Tableau, Python would be advantageous
  • Methodical and logical mindset to problem solving, an effective approach to time management and the ability to work to tight deadlines and in teams
  • Fluent business level English is essential. Additional European language skills including French, Spanish, Dutch, German or Italian are highly desirable

The successful candidate will contribute to pan European projects that will build the profile and reputation of A&M within Financial Services performance improvement. They will reflect the operational distinctiveness that is A&M; a business savvy, solution-focused business entrepreneur who is determined to make a difference and not afraid to challenge the status-quo.

Diversity & Inclusion

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.

Equal Opportunity Employer

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. Employees and Applicants can find A&M policy statements and additional information by region here.

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 are engaged to provide candidates for a specified opening and in alignment with our Inclusive Diversity values. 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.

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