Senior Associate, Transaction Advisory… at Intrinsic · Chicago

The Role

Healthcare M&A deals don't run on a standard diligence playbook. Revenue cycle performance, payor mix sensitivity, provider compensation structures, and reimbursement risk require someone who can read what the data is actually saying — not just organize it.

As a Senior Associate on Intrinsic's healthcare TAS team, you'll execute the analytical core of buy-side and sell-side financial due diligence: proof of cash, QoE analysis, net working capital, revenue, and profitability trending. You'll work directly alongside VPs and Directors on PE-backed healthcare deals, building real sector depth and technical command in one of the most dynamic corners of the M&A market.

Why Intrinsic

You own your development. Intrinsic is not a place where careers happen to you. You run real workstreams, own your deliverables, and are accountable for what goes out the door. If you want to grow fast, the environment supports it — but you have to drive it.

The path forward is clear. Intrinsic is a private, independent firm — not a bureaucracy. The progression from Senior Associate to Vice President is defined and real. When you're ready to step up, the opportunity is there. As you advance, so does your stake in what we're building: at the Director level and above, our employee ownership structure means the firm's success is directly yours.

When the firm wins, you feel it. Before you reach ownership, the 15% bonus target at this level is meaningful and tied to the firm's performance. This isn't a token variable comp — it's a real part of how you're rewarded for strong work in a strong year.

What You'll Do

Engagement Execution

• Execute core financial due diligence analyses: proof of cash, revenue and profitability trending, balance sheet reviews, vendor and payroll analysis, and QoE/NWC adjustments
• Build and maintain databooks from large, complex datasets — organized, formatted, and accurate enough to support defensible conclusions
• Draft report sections and revise based on VP and Director feedback; your work product needs to be clear and precise before it moves up
• Manage the data room — track incoming documentation, flag gaps, and keep outstanding requests current
• Prepare analytical exhibits and financial questions ahead of management meetings
• Own your self-review; accuracy is your responsibility before anyone else sees it

Healthcare-Specific Analysis

• Revenue cycle dynamics: collections trends, denial rates, days in A/R, coding and billing patterns
• Payor mix and reimbursement rate sensitivity across commercial, Medicare, and Medicaid
• Provider productivity and compensation model analysis (wRVU-based, collections-based, hybrid structures)
• Healthcare-specific QoE adjustments: pro forma provider adds, contract rate changes, one-time reimbursement impacts
• MSO structures, de novo vs. acquisition growth, and ancillary service performance

Firm Contribution

• Support internal initiatives between engagements: peer coaching, recruiting, process improvement, and practice development
• Track activity and manage workflow through Salesforce and firm tools

What Makes You a Fit

Your background:

• At least 2 years of experience in audit, financial due diligence, transaction advisory, or closely related financial analysis
• Bachelor's degree in Accounting, Finance, or Business; CPA licensed or actively pursuing preferred
• Strong Excel skills with the ability to handle large, complex datasets accurately and efficiently
• Ability to synthesize financial data into clear findings — not summaries, but conclusions with a point of view
• Experience with or a genuine interest in healthcare services, provider businesses, or healthcare transactions is a meaningful plus

How you work:

• You drive your own career — you don't wait for someone to hand you opportunities, you earn them
• You own your work product; accuracy is your responsibility before it reaches anyone else
• You track what's open, anticipate what's next, and communicate clearly when something shifts
• You hold yourself to a high standard under pressure — multiple live workstreams and hard deadlines bring out your best, not your excuses
• You receive feedback, implement it, and move forward; you see it as part of performing at a high level

Who you are:

• Competitive in the right way — you measure yourself against a high bar, not the person next to you
• Direct and clear: in how you communicate, how you think through problems, and how you deliver findings
• Intellectually curious — you go past the surface of the data because you want to understand, not just report
• Someone who takes the long view on their career: you're here to build something real, not collect a paycheck

Compensation & Benefits

This position has an expected base salary range of $101,000 to $127,000 annually. Skills, experience, education, and qualifications determine final compensation. Employees are also eligible for an annual discretionary bonus targeted at 15% of base salary, bringing target total cash compensation to approximately $116,150 to $146,050.

Benefits include medical, dental, and vision insurance; a 401(k) plan with employer contribution; paid time off, including vacation, sick leave, and company holidays; paid parental leave; hybrid and remote work flexibility; professional development support and continuing education reimbursement; and participation in the firm's employee ownership model. All full-time employees are eligible for these benefits.

This position is eligible for remote work. Compensation reflects the full posted range and is not adjusted by geography.

About Intrinsic

Since 2010, Intrinsic has partnered with private equity firms, portfolio companies, and the office of the CFO to deliver transaction advisory services, valuation, and financial and accounting advisory support. We are a private, independent firm with significant employee ownership, headquartered in Denver with team members across the country.

Our TAS practice specializes in buy-side and sell-side financial due diligence for private equity clients and middle-market companies. Our healthcare vertical brings focused sector expertise to deals involving provider services, payor relationships, revenue cycle performance, and the full spectrum of PE-backed healthcare transactions.