Manager, Transaction Advisory Services

Practice: Transaction Advisory ServicesPosition: Manager, Transaction Advisory ServicesLocation: Dallas, TXAbout STOC AdvisorySTOC Advisory is a business advisory firm focused on transaction advisory services, corporate development, and finance and data intelligence. We work with middle market businesses and private equity sponsors to support acquisitions, growth, and exit planning.Our Transaction Advisory Services team provides buy-side and sell-side diligence with a focus on clear financial analysis and practical insights. Engagements typically run from initial deal screening through close, with additional involvement in post-transaction support. Teams are lean and partner-led, with associates actively involved in analysis, deliverables, and client interaction.Position OverviewSTOC Advisory is seeking a Transaction Advisory Service Manager to join its Transaction Advisory Services team. This is a hands-on financial diligence role for someone who can perform detailed analysis, build and review workpapers, draft report sections, and help manage assigned areas of an engagement.The TAS Manager will work directly with financial data, including trial balances, general ledgers, revenue detail, payroll files, management reports, and operating KPIs. You will prepare and review quality of earnings analyses, adjusted EBITDA schedules, net working capital analyses, debt-like item analyses, and other transaction-related workstreams.Key ResponsibilitiesFinancial Due Diligence ExecutionPerform buy-side and sell-side financial due diligence across a range of industries.Build and analyze quality of earnings, adjusted EBITDA, net working capital, debt-like items, revenue, gross margin, payroll, operating expense, and operating KPI schedules.Work directly with financial statements, trial balances, general ledgers, revenue detail, payroll files, customer data, vendor data, management reports, and supporting documentation.Reconcile financial data across source files, management reports, trial balances, and diligence schedules.Identify unusual trends, non-recurring items, normalization adjustments, accounting issues, and potential transaction risks.Analyze revenue quality, margin trends, customer concentration, vendor concentration, payroll trends, working capital patterns, and cash flow drivers.Develop clear, well-supported workpapers that can withstand internal, client, lender, and third-party review.Connect financial findings to broader transaction considerations, including valuation, deal structure, lender review, purchase agreement considerations, and post-close priorities.Quality of Earnings and Core TAS WorkstreamsPrepare and review quality of earnings analyses, including EBITDA normalization adjustments and supporting schedules.Analyze historical revenue trends, revenue recognition considerations, customer-level performance, and recurring versus non-recurring revenue.Review cost of goods sold, gross margin trends, payroll, benefits, professional fees, rent, owner compensation, add-backs, and other key expense categories.Support net working capital analysis, including historical balance sheet trends, seasonality, target working capital considerations, and potential adjustment items.Support debt-like item analysis, including liabilities, accrued expenses, deferred revenue, leases, taxes, related-party balances, and other transaction-relevant items.Prepare management questions and follow-up requests based on diligence findings and data review.Document assumptions, limitations, and judgment areas clearly and professionally.Engagement Execution and Workstream OwnershipOwn assigned areas of diligence from initial data review through final report delivery.Manage workstreams while remaining actively involved in analysis, schedule building, workpaper preparation, and report drafting.Coordinate data requests, follow-up questions, open items, internal review comments, and diligence timelines.Work closely with senior leadership, other managers, associates, and analysts to keep engagements organized and moving forward.Escalate key risks, open items, data gaps, accounting issues, and judgment areas to senior team members.Help ensure that engagement files, workpapers, exhibits, and report sections are organized, consistent, and well-supported.AI Tools, and Data-Enabled WorkflowUse Endex or similar AI-enabled financial diligence tools to support document review, data extraction, workpaper preparation, and diligence workflow efficiency.Maintain professional judgment when using AI-enabled tools, including verifying outputs, reconciling results to source documentation, and identifying limitations.Use technology to improve the speed, consistency, and quality of diligence execution without compromising accuracy or review standards.Support the continued development of STOC’s internal diligence workflows, templates, and technology-enabled processes.Reporting and DeliverablesDraft and review sections of quality of earnings reports and financial diligence deliverables.Translate detailed financial analyses into clear, concise, and transaction-focused observations.Prepare charts, tables, exhibits, and written summaries that support key diligence findings.Maintain consistency across workpapers, diligence schedules, report exhibits, and written conclusions.Help produce client-ready deliverables that are practical, polished, and useful for transaction decision-making.Communicate findings in a way that is clear to private equity clients, lenders, management teams, and other transaction stakeholders.Client and Management Team CommunicationParticipate in client calls, management meetings, and diligence discussions.Communicate findings, open items, risks, and data limitations clearly to internal and external stakeholders.Support senior team members in preparing for client updates, management calls, lender discussions, and report reviews.Maintain professionalism, responsiveness, and accuracy during fast-moving transaction processes.Help clients understand what the analysis means, not just what the numbers show.Team Support and ReviewReview work prepared by associates and analysts for accuracy, logic, completeness, and documentation quality.Provide practical guidance on financial analysis, workpaper structure, diligence methodology, and report drafting.Help junior team members understand the purpose behind the analysis, not just the mechanics of completing a schedule.Support team members in working through messy data, incomplete support, reconciliation issues, and judgment areas.Contribute to a collaborative TAS team environment focused on quality, accountability, responsiveness, and strong execution.Process ImprovementHelp improve internal TAS templates, workpaper structures, report formats, and diligence workflows.Identify recurring issues across engagements and suggest practical process improvements.Support the development of scalable, repeatable, and technology-enabled TAS processes.Contribute to internal knowledge-sharing around diligence findings, industry trends, accounting considerations, and workflow improvements.QualificationsRequired Experience4 to 7 years of experience in transaction advisory, financial due diligence, audit, accounting advisory, corporate finance, investment banking, or a related field.Experience performing financial analysis using detailed accounting and operational data.Strong understanding of quality of earnings, adjusted EBITDA, net working capital, debt-like items, and common diligence adjustments.Experience building and reviewing financial schedules, workpapers, and supporting analyses.Experience working directly with trial balances, general ledgers, financial statements, management reporting, and supporting documentation.Ability to manage assigned workstreams while also executing the underlying analysis.Technical SkillsStrong proficiency in Excel, including data cleanup, reconciliations, variance analysis, schedule building, pivot tables, lookups, and financial modeling.Ability to work with large, messy, incomplete, or inconsistent data sets.Strong understanding of accounting principles and financial statement relationships.Experience preparing and reviewing quality of earnings, adjusted EBITDA, net working capital, debt-like item, revenue, margin, payroll, and operating expense analyses.Familiarity with Endex or similar AI-enabled finance, accounting, or diligence tools.Ability to use AI-enabled tools responsibly while verifying outputs and maintaining strong review standards.Preferred QualificationsCPA, or progress toward a relevant certificationPrior experience at a transaction advisory firm, public accounting firm, investment bank, consulting firm, or private equity-backed business preferred.Experience with Endex or similar AI-enabled financial diligence tools strongly preferred.Lower middle-market or middle-market transaction experience preferred.Experience improving internal templates, workpaper structures, reporting processes, or diligence workflows is a plus.Experience working with private equity clients, lenders, or founder-led businesses is a plus.What Success Looks LikeProduce accurate, well-supported diligence analyses and workpapers.Identify key financial risks, trends, adjustments, and open items.Draft clear, client-ready report sections and supporting exhibits.Use Excel, Endex, and other tools to improve the quality and efficiency of diligence work.Balance hands-on execution with review and coordination responsibilities.Help associates and analysts improve their technical skills and transaction judgment.Communicate clearly with internal teams, clients, and management teams.Contribute to a TAS team that is rigorous, responsive, practical, and technology-enabled.