Career Opportunities

HOOPP

Why you’ll love working here:

• You’re making an impact by helping to deliver on our Pension Promise
• World class Defined Benefit pension plan
• 100% company paid Extended Health and Dental benefits for permanent for employees
• Business casual dress code
• Annual wellness reimbursement program for health & wellness-related expenses for permanent employees
• Virtual fitness, yoga and meditation classes, nutritionist consultations and wellness seminars
• Following the advice of Canadian health authorities, we have implemented a work-from-home policy for our employees, to mitigate the risk of potential spread of COVID-19 and support social distancing.

Job Summary

HOOPP’s Private Investment portfolio has grown to over $11 billion and includes investments throughout North America and Europe. The Infrastructure portfolio is currently in its growth phase and expected to grow to $5 billion over the next few years. The portfolios hold direct investments in private enterprises, as well as indirect investments through limited partnerships. The varied nature of the investment structures and geographic locations results in different reporting standards, income tax implications, and foreign exchange considerations. The focus of the Director role is to provide subject matter expertise with respect to valuations of infrastructure, private equity and private debt investments. The Director role will be responsible for overseeing and preparing independent valuations of HOOPP’s direct infrastructure, private equity and private debt investments, reviewing investment management’s valuation models, performing market research, applying professional judgement to form an independent view on valuations, and liaising with senior members of the Investment Division as well as Finance. The Director is expected to have a hands-on approach to the valuation process.

What you will do:

• Infrastructure and private investments are areas of growth for HOOPP and these asset classes are anticipated to grow. In addition to growth in assets under management, complex investments, structures, tax and regulatory change have all contributed to the complexities in these two asset classes.
• The Director will be accountable for providing subject matter expertise on valuations and reporting on valuations of infrastructure, private equity, and private debt investments for purposes of HOOPP’s financial statements. The role requires considerable liaison with the Investment division, auditors, and other finance departments within HOOPP.
• Valuations of infrastructure, credit and private investments are by nature complex and unique. Given these characteristics, the private assets are classified as a Level 3 on HOOPP’s financial statements due to the extensive use of judgement in lieu of publicly observable prices. Misstatement of valuations would have an impact on HOOPP’s financial statements, performance reporting as well as impacting Investment Management decision making.
• The role currently provides for leadership and supervision for 1 direct report, but this is expected to grow given the anticipated growth in the asset classes.

What you bring:

• Responsible for the annual valuation review process of the infrastructure and private equity portfolios – this would include reviewing investment valuation memorandums prepared by Investment Management, preparing independent valuation models, reviewing key assumptions, conducting appropriate market research, liaise with staff members of Investment Management to understand deal terms/structure and arrive at a preliminary value recommendation to discuss with the Senior Director. Escalate issues and other matters to the Senior Director for discussion and resolution.
• Establish valuation best practices and implement process improvements, in particular implement standardized valuation models and valuation reporting for the portfolios. Recommend valuation policy changes as necessary.
• Develop and implement a Finance deal monitoring process for new and existing deals and ensure standardized protocols are followed with respect to information requests and understanding new deals.
• Keep abreast of valuation standards (CICBV) and fair value standards (IFRS, IPEV), technical valuation approaches and methodologies of various asset classes (common equity, preferred shares, debt Instruments and hybrid instruments) as well as knowledge in the application of Black Scholes option pricing.
• Oversee the management of the PE & Infrastructure valuation team to ensure:
• Recruitment of qualified team members
• Training and development
• Coaching/mentoring
• Performance management
• Plan and organize the work of the valuation team to ensure deliverables are prepared accurately, effectively and within agreed timeframes.
• Liaise with the external auditors and respond to queries from the auditors relating to valuations.
• Provide support to other valuation team members in the execution of valuations.
• Build relationships with Investment Division and respond to queries from Investment Management and provide materials and analysis, as requested.
• Collaborate with Senior Director on ESG initiatives related to valuations, understand how ESG are reflected in new deals and the review of those ESG assumptions from a valuation perspective.
• Undergraduate in Finance, Commerce or related discipline
• Professional CBV designation is required
• Professional CPA designation is an asset
• 10+ years’ experience in the valuation of infrastructure and private equity investments
• Experience in valuation of privately held debt, preferred shares and warrants
• Strong financial modelling skills
• Experience in Black Scholes option pricing
• Experience in real estate valuations would be an asset
• Experience in use of Bloomberg and Capital IQ is a requirement

Notice for job applicants

Following the advice of Canadian health authorities, to mitigate the risk of potential spread of COVID-19 and support social distancing, all recruiting activities including interviews and new hire onboarding will be conducted online. While we are doing our best to ensure reasonable response times, please expect some delays during the recruiting process due to the current situation. Thank you for your patience and understanding during these challenging times.

For additional information on our adjusted recruitment process, please email us at hrinbox@hoopp.com.

About HOOPP

Established in 1960, the Healthcare of Ontario Pension Plan (HOOPP) is a multi-employer defined benefit pension plan for Ontario’s hospital and community-based healthcare sector. We serve more than 400,000 members who provide valued healthcare services at more than 610 employers across the province. At HOOPP, we exist to provide a stable and reliable pension for our members that starts in retirement and is paid for life. As one of Canada’s largest and most respected pension plans, HOOPP’s net assets reached $104 billion at the end of 2020 and our funded status remained strong and stable at 119%.

HOOPP’s core values – professional, accountable, collaborative, compassionate and trustworthy – guide our every interaction with our members, employers and employees. We’ve become one of Canada’s leading pension plans by consistently challenging ourselves and embracing innovation.
From our unique investment management approach to our innovative technology and thought-provoking research, we constantly seek to push the boundaries, and we do this by hiring passionate, forward-thinking people.

Our high-performance culture is founded on collaboration, respect and belonging. HOOPP is an equal opportunity employer and we’re proud of our diversity. We select applicants for employment solely on the basis of their qualifications. Should you require accommodation because of a disability during the recruitment and selection process, please contact our Human Resources team. We will be happy to consult with you so that arrangements can be made for reasonable accommodation.