Senior Associate, Healthcare Policy & Investment - Capital Markets

Job Description:

Capstone is hiring a Senior Associate to join its Healthcare Capital Markets franchise, which produces investor-facing research on federal and state healthcare policy for institutional investors across equity, credit, and multi-strategy funds. The ideal candidate combines strong healthcare policy knowledge with sharp writing instincts and an interest in how policy translates to market outcomes. The Associate will write research notes, build policy frameworks, and contribute directly to client-facing analysis on legislative and regulatory developments, with a particular focus on managed care organizations, hospitals, and related providers. You should pride yourself on being detail-oriented, prioritize client service, and seek an opportunity to develop expertise at the intersection of policy, politics, and investing within a fast-paced, collaborative environment.

Capstone is a global policy research and consulting firm with offices in Washington, D.C., New York, Houston, London, Paris, Brussels, and Mumbai. We help institutional investors and companies understand how policy developments may shape industries, markets, and business performance. We are committed to fostering an entrepreneurial and collaborative culture that supports professional development and long-term growth.

Key Responsibilities

• Write investor-facing research, including investor notes, quick takes, client presentations, and discussion guides that synthesize legislative and regulatory developments into clear investment implications
• Analyze healthcare policy developments across Medicare, Medicaid, Affordable Care Act marketplaces, and reimbursement policy
• Build and maintain policy frameworks that connect regulatory and legislative activity to sector-level and company-specific implications for healthcare services companies, managed care organizations, hospitals, and related industries
• Conduct primary and secondary research using government publications, public filings, CMS data, court documents, industry sources, and stakeholder intelligence
• Track policy events in real time - monitor hearings, rulemakings, agency guidance, and political developments, and flag actionable developments to the team
• Collaborate across the firm with senior analysts and colleagues in adjacent sectors to deliver timely, actionable insights to clients
• Develop relationships with industry participants, Hill staff, policy stakeholders, and other relevant contacts over time

Qualifications and Attributes

Successful candidates will typically demonstrate:

• Strong analytical and problem-solving skills
• Interest in healthcare policy, politics, and financial markets
• Excellent written and verbal communication abilities
• Strong attention to detail and the ability to manage multiple projects simultaneously
• Willingness to take ownership of work product quality
• Intellectual curiosity and a willingness to learn in a fast-moving environment
• Strong organizational skills and the ability to work both independently and collaboratively
• Professionalism and a client-oriented mindset

Education and Experience Requirements

• Bachelor's degree required; coursework or concentration in Public Policy, Political Science, Economics, Healthcare Administration, Finance, or related fields preferred
• 3+ years of relevant professional experience in equity research, consulting, policy analysis, healthcare, government (Hill, CMS, HHS, state Medicaid agencies), or financial services
• Familiarity with the U.S. healthcare system and healthcare policy landscape preferred
• Proficiency in producing impactful, investor-facing written research; experience in Microsoft Excel and PowerPoint preferred
• Ability to synthesize complex information into clear and concise takeaways
• Must be eligible to work in the United States without sponsorship

We are an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability status, protected veteran status, or any other characteristic protected by law.