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Senior Associate, Financial Due Diligence (Transaction Advisory Services)

Ankura · Chicago, IL · $65,000–$155,000 a year · Full time

Posted Sep 15, 2026 · We last checked this listing on Oct 6, 2026

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Likely interview questions for this role

Written from this job description, not a generic list. Each one notes what the interviewer is really checking.

About your past

Tell me about a diligence project where management was slow to give you data. How did you keep it moving?

What they are checking: Whether they can manage data requests and client follow-up with urgency and ownership.

How do you review a junior associate's workpapers before they go to the manager?

What they are checking: Whether they are ready to supervise, checking tie-outs and logic rather than just formatting.

Tell me about a time you juggled two deals with overlapping deadlines.

What they are checking: Whether they can prioritize and communicate across teams in a fast deal environment.

What would you do

You find a revenue cutoff issue three days before the report is due. What do you do?

What they are checking: Whether they escalate quickly and quantify the issue rather than burying it to meet a deadline.

How would you explain a large negative diligence finding to a private equity client on a call?

What they are checking: Whether they can communicate a deal-relevant issue clearly and calmly with its dollar impact.

About the work

Walk me through how you'd build an adjusted EBITDA bridge in a quality of earnings analysis.

What they are checking: Whether they can identify and support normalization adjustments that a buyer will actually accept.

How do you decide whether an adjustment is truly non-recurring?

What they are checking: Whether they can tell a real one-time item from a recurring cost that management wants to exclude.

Explain how you would set a net working capital target and why it matters at closing.

What they are checking: Whether they understand the peg, seasonality and how working capital shifts value between buyer and seller.

What do you look at in a quality of revenue analysis?

What they are checking: Whether they examine customer concentration, churn, pricing, cutoff and revenue recognition, not just totals.

What's the difference between buy-side and sell-side diligence in how you approach the work?

What they are checking: Whether they understand that the audience and purpose change the emphasis and tone of findings.

How does post-merger integration connect to what you find in diligence?

What they are checking: Whether they see diligence findings as inputs to integration risks, synergies and day-one planning.

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The full job description

As published by Ankura.

Ankura is a team of excellence founded on innovation and growth. Practice Overview: Financial Due Diligence is essential in today’s deal environment - whether evaluating an acquisition or planning a divestiture. Ankura’s buy-side and sell-side advisory services combine deep industry expertise with a strong understanding of current and emerging market drivers. Our client-focused approach empowers executives to rely on the financial information presented, enabling more confident decision‑making throughout the transaction process. Our Financial Due Diligence services include quality of revenue and quality of earnings analyses, net working capital target setting and settlement support, assistance with securities purchase agreements, and post‑merger integration advisory. Role Overview: We are seeking a Financial Due Diligence Senior Associate to join our growing practice. The ideal candidate will bring strong technical and analytical capabilities, excellent project management and communication skills, and a sense of urgency and ownership in serving clients. This role will contribute to key financial analyses - including quality of earnings, quality of revenue, net working capital, and operational trend assessments - as well as support deliverable preparation, project updates, and internal initiatives such as research development, status tracking, and billing. This role is ideally based in Nashville or Chicago, but other locations such as Atlanta, or Dallas will be considered. Responsibilities: • Participate in buy-side and sell-side pre‑transaction due diligence engagements for public companies, private companies, private equity firms, SPACs, and investment banks across the U.S. • Engage with owners and management teams to understand and evaluate operational drivers and financial results. • Build financial models to analyze historical trends and projected performance. • Prepare comprehensive due diligence reports including Quality of Earnings, Quality of Net Revenue, Net Working Capital, and Debt and Debt‑Like analyses. • Collaborate with senior team members to manage workstreams, meet deadlines, and maintain high‑quality client service. • Contribute to internal initiatives such as research publications, process improvements, and engagement tracking. Requirements: • 3+ years of experience in audit or Transaction Advisory Services / M&A due diligence. • Bachelor’s degree in accounting from an accredited institution. • Active CPA license or eligibility to obtain a CPA; exceptions may be considered for applicants with extensive relevant experience. • Strong technical knowledge of U.S. GAAP and SEC reporting; experience in healthcare or an understanding of the regulatory environment is preferred. • Proficient in conducting complex quantitative and qualitative analyses and generate data‑driven insights. • Ability to apply critical thinking to drive outcomes in new or unfamiliar situations. • Capable of working independently, manage tight deadlines, and thrive in a fast‑paced environment with shifting priorities. • Must be authorized to work in the United States now and in the future without sponsorship. #LI-MJ1 #LI-Hybrid For individuals assigned and/or hired to work in California, Colorado, New York or other states with relevant pay transparency laws, Ankura is required to include a reasonable estimate of the compensation range for this role. This compensation range is specific to the said markets and considers a broad range of factors including but not limited to skill sets, experience and training, licensure and certifications, and other business and organizational needs. The disclosed range estimate has not been adjusted for the applicable geographic differential associated with the location at which the position may be filled. The range does not include additional benefits outside of salary. At Ankura, it is not typical for an individual to be hired at or near the top of the range for their role and compensation decisions are dependent on the facts and circumstances of each role. A reasonable estimate of the current base pay range is between $65,000 to $155,000; this range is not a promise of a particular wage. * Ankura is an Affirmative Action and Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, or protected veteran status and will not be discriminated against based on disability. Equal Employment Opportunity Posters, if you have a disability and believe you need a reasonable accommodation to search for a job opening, submit an online application, or participate in an interview/assessment, please email accommodations@ankura.com or call toll-free +1.312-583-2122. This email and phone number are created exclusively to assist disabled job seekers whose disability prevents them from being able to apply online. Only messages left for this purpose will be returned. Messages left for other purposes, such as following up on an application or technical issues unrelated to a disability, will not receive a response.

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