Erin Covington
Senior Director
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15+ years nonprofit organization management
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Erin Covington, a Senior Director with Alvarez and Marsal, specializes in providing turnaround, restructuring and performance improvement solutions in both the corporate and public sector.

Her primary areas of concentration include business plan development, development and implementation of restructuring plans, due diligence services, managing asset sale processes and bankruptcy consulting. With more than 10 years of financial, operational and advisory experience, Ms. Covington has worked with clients across a wide-range of industries including K-12 public education, post-secondary education, health care, energy, financial services, housing, apparel and construction industries.

Previously, Ms. Covington was an integral team leader in the application of core turnaround and consulting services in the developing public sector market, primarily with the New York City Department of Education (“DOE”). At the DOE, she served as a lead member of the restructuring team that oversaw the $20 billion annual operating budget and financial operations for more than 1,400 public schools. She helped to identify and execute cost reductions and implement the major reorganization of the administrative structure outside the schools. One area of focus included the development of financial models that identified $230 million in cost savings from the administration and redirected funds to schools budgets. In addition, she was a key member of the team that developed and implemented a new funding model for more than $5.0 billion allocated directly to schools for operations. This model moved the DOE from a staff-based funding model to a student-based funding model and provided principals with greater financial flexibility, resulted in a more equitable distribution of resources and created stronger incentives for schools to enroll difficult to educate students.

Prior to joining A&M, Ms. Covington spent three years at a major energy trading company serving as a manager of financial reporting. She managed the preparation and analysis of the budgets, forecasts and audited annual financial statements prepared on a Mark-to-Market (“MTM”) basis of accounting and the disclosures for SEC filings. Ms. Covington also spent two years at KMPG where she performed various audit and consulting tasks for wide variety of clients including the Federal-basis and GAAP-basis audit of the Federal Housing Administration’s multifamily mortgage insurance program. In addition, she provided consulting services for Prince William County, VA, the Department of Justice and the Federal Deposit Insurance Corporation.

Ms. Covington earned her bachelor’s degree in accounting from James Madison University. She is a Certified Public Accountant (CPA).

NOTE: Alvarez & Marsal employs CPAs but is not a licensed CPA firm.