Ontario Teachers’ Pension Plan
Reports to: Senior Manager, Private Investment Valuation
Division: Investment Finance
Req: 714
POSITION SUMMARY
Responsible for supporting the execution of OTPP’s valuation function for Private Investments with a focus on Real Estate valuations and other private investment valuations, during peak periods. Investment Finance oversees the valuations of over 200 investments incorporating private equity, fund investments, infrastructure, timber, real estate and private debt. This position will also be responsible, to an extent, for training junior staff in Investment Finance to be used in the valuation process during peak periods.
Responsibilities:
1. Supporting the planning and execution of the quarterly and year end valuation processes for the real estate valuation practice and potentially other private investments during peak periods.
- Help prepare and oversee the review of “fair value” valuations prepared by OTPP’s Investment teams including the preparation of analysis and summary memorandums in respect thereof
- Review the fair value valuations prepared by external valuation agents
- Help develop recommendations of fair value to be used for the purposes of OTPP’s financial statements
- Support the senior manager in the development, tracking and reporting of plans and timelines to ensure an effective and efficient valuation process
- Help the senior manager develop the standards for reviews and the corresponding processes to be followed by the staff involved in the valuation process
- Help the senior manager in responding to queries/information requests from OTPP’s external auditors with respect to real estate and other private investment valuations
- Communicate noted issues with respect to the valuation process or specific investment valuations to the Senior Manager on a timely basis
- Help the senior manager with OTPP board reporting with respect to the results of the year end private investment valuation process
2. Assist the senior manager interface with the Investment Division with respect to the valuations including:
- Help coordinate processes and deliverables to facilitate the execution of a smooth quarterly and year end valuation process
- Together with the Senior Manager communicate noted issues with respect to the process and/or issues identified with respect to real estate and other private investment valuations
- Help ensure exceptional service is provided to the Investment Division with respect to private investment valuations
- Respond to inquiries and requests from the Investment Division including consultation on new transactions where required
3. Support the management of OTPP’s use of external advisors employed in the real estate and private investment process and the management of the corresponding relationships
- Help support the senior manager in managing the process around the use of external advisors including:
- Helping to ensure internal information required by external advisors is provided by both the Investment Division and Investment Finance in accordance with established timelines
- Reviewing and incorporating the external advisor recommendations/findings into OTPP’s recommendations on fair value
- Communicating noted issues to the senior manager, on a timely basis
- Help ensure exceptional service is provided by external parties
4. Assist in training and reviewing the work of junior staff in peak valuation periods
- Assist, develop and train junior staff with respect to valuation standards, practices and internal process requirements to ensure the execution of effective and efficient valuation processes.
5. Help ensure OTPP’s valuation policies and practices remain best practice
- Assist the senior manager in the review and monitoring of external best practice valuation standards and practices
- Supporting the senior manager with the annual review and update of OTPP’s valuation policies as they relate to the real estate portfolio including recommending changes based on changes in best practice valuation guidelines and practices
- Help the senior manager prepare any required OTPP board reporting with respect to any recommended policy changes
Knowledge and Experience:
- Relevant university degree
- Experience (3-5yrs) in valuing real estate investments is an asset
- A Chartered Business Valuator designation or working towards CBV is an asset
- A professional accounting degree (CA, CGA, CMA) is an asset
- CFA is an asset
- Previous experience in coaching, training and developing staff is an asset
- Experience interacting with senior management and other external advisors is an asset