Responsible for the management and execution of OTPP’s valuation function and risk methodology validation function for an assigned portion of Private Investments which includes in excess of 150 investments across a number of asset classes private equity, real estate, natural resources, infrastructure, and venture capital. This position is also responsible for the work conducted and output prepared by junior staff members.
1. Supporting the planning and execution of the quarterly and year end valuation processes.
- Preparing and overseeing the review of “fair value” valuations prepared by OTPP’s Investment teams by Investment Finance including the oversight of preparation of valuation analysis performed by junior team members and the preparation of summary memorandums in respect thereof
- Review of fair value valuations prepared by external valuation agents
- Developing recommendations of fair value to be used for the purposes of OTPP’s financial statements
- Development, tracking and reporting of plans and timelines for assigned investment portfolios to ensure an effective and efficient valuation process
- Developing recommended standards to the Senior Manager for reviews and the corresponding processes to be followed by the staff involved in the valuation process
- Responding to queries/information requests from OTPP’s external auditors with respect to private investment valuations
- Communication of noted issues with respect to the valuation process or specific private investment valuations to the Senior Manager, Private Investment Valuation on a timely basis
- Preparation of OTPP board reporting with respect to the results of the year end private investment valuation process.
2. Supporting the execution of Finance’s risk methodology validation process for Private Investments.
- Preparing the review (or oversight of a review conducted by an external service provider) of key assumptions/decisions employed in the development of the risk methodology for classes of Private Investments and/or individual Private Investments and concluding on their appropriateness.
- Working with appropriate stakeholders including Asset Mix & Risk, Investment Departments and other Finance teams to communicate and develop solutions for findings and recommendations.
- Track and report on plans and timelines for assigned reviews to ensure an effective and efficient process
- Ensuring appropriate documentation is created and maintained for the relevant analysis, findings and conclusions.
3. Manage relationships for assigned investments with relevant Investment Division personnel and other internal departments.
- Interfaces with the Investment Division with respect to private investment valuations including:
- Coordinate processes and deliverables to facilitate the execution of a smooth quarterly and year end valuation process
- Together with the Senior Manager, Private Investment Valuation, communication of noted issues with respect to the process and/or issues identified with respect to specific private investment valuations
- Discussion of any proposed changes to established valuation practices and processes
- Respond to inquiries and requests from the Investment Division including consultation on new transactions where required
4. Support the management of OTPP’s use of external advisors employed in the private investment valuation and risk methodology validation process and the management of the corresponding relationships
- Manage the process for assigned investments around the use of external advisors including:
- Ensuring internal information required by external advisors is provided by both the Investment Division and Investment Finance in accordance with established timelines
- Monitoring and reporting on progress of external advisor deliverables
- Review and incorporation of external advisor recommendations/findings into OTPP’s recommendations
- Communication of noted issues to Investment Finance senior management and the Investment Division, where necessary, on a timely basis
- Ensure exceptional service is provided by external parties
5. Oversee the work prepared by junior valuation team members
- Responsible for the quality assurance on valuation reviews and prepared by other staff
- Helps determine the allocation of responsibilities between the valuation team
- Develop and train valuation team staff with respect to internal standards, practices and process requirements to ensure the execution of effective and efficient processes.
- Coaches junior valuation staff participating and provides input to their performance evaluations and career development.
6. Help ensure OTPP’s valuation policies and practices remain best practice
- Establish best practice reviews of internal methodologies and processes for assigned investments with a view to continuous process improvement
- Monitoring external best practice standards (e.g. IPEV Valuation Guidelines) and practices
- Execute the annual review and update of OTPP’s private investment valuation policies including recommending changes based on changes in best practice valuation guidelines and practices
- Prepare any required OTPP board reporting with respect to any recommended policy changes
7. Act as a subject matter expert for private investment valuations and risk methodology validation for other Investment Finance or Investment Division groups as required.
- Consult with other Investment Finance groups on valuation methodologies and approaches to be applied in different product areas
- Respond to queries from the Investment Division with respect to private investment valuation methodologies and standards
Knowledge and Experience:
- Relevant university degree
- A Chartered Business Valuator designation is strong asset.
- A professional accounting degree (CA, CGA, CMA) is a requirement.
- CFA is an asset
- Experience (5-8 years) working with private investments which could include investing, valuing and/or conducting due diligence in respect of private investments.
- Previous experience (3+ years) in coaching, training and developing staff
- Experience interacting with senior management and other external advisors
Please apply for the role directly through our website
Closing date – January 10, 2014