Associate - Valuation Oversight

AQR•Greenwich, CT

16h•$85,000 - $100,000

About The Position

This role works in the AQR Security Valuation group which supports the firm’s valuation oversight function across AQR’s U.S. mutual funds, UCITS, private funds, and separate account structures. The group has end-to-end responsibility for the valuation framework, including governance, methodology oversight, escalation, and the overall control environment. The role is accountable for ensuring valuations are well governed, timely, accurate, and aligned with applicable regulatory requirements, while exercising independent judgment, providing effective challenge, and driving strong accountability across the function. This individual will help shape the future state of the valuation operating model as the platform grows in scale and complexity, while partnering closely with adjacent functions including fund treasury, risk, compliance, operations, portfolio management, legal, and third-party administrators.

Requirements

Strong analytical and problem-solving skills, sound judgment, and the ability to operate effectively in a fast-paced, complex environment.
Deep technical expertise in valuation methodologies, including the ability to evaluate and challenge models, assumptions, and pricing inputs (including unobservable inputs)
Strong understanding in corporate actions and the impact on daily valuation process (Right offerings, spin-offs, mergers, spacs, acquisitions etc.)
Strong knowledge of derivatives and the attributes needed to properly setup and value (building vendor request files / templates)
Experience building, reviewing, or overseeing complex valuation models, with a strong understanding of industry practices and regulatory expectations.
Strong knowledge of regulatory requirements, including SEC Rule 2a-5; familiarity with UCITS valuation frameworks preferred.
Ability to operate independently and make well-reasoned decisions in complex and judgmental valuation scenarios.
Experience interacting with auditors and third-party service providers, including pricing vendors and administrators.
High level of attention to detail, organization, and control orientation, with a focus on accuracy and risk management.
SQL, Excel, Python, Bloomberg, DataScope, S&P Derivative Studio/PV, FundRun

Nice To Haves

familiarity with UCITS valuation frameworks

Responsibilities

Execute the valuation function end-to-end, including valuation committee materials and support of fair value determinations through established governance processes.
Define and execute the valuation strategy and operating model, driving process enhancements, control improvements, and scalability across asset classes and investment vehicles.
Oversee and actively engage in daily and periodic valuation activities, including evaluating complex and less liquid positions, challenging third-party pricing, and analyzing pricing exceptions and valuation issues, and supporting escalation through established governance processes.
Apply independent technical judgment to evaluate valuation methodologies, assumptions, and inputs (including models and unobservable inputs), and support well-reasoned valuation conclusions.
Ensure compliance with applicable regulatory requirements (including SEC Rule 2a-5 and UCITS), maintaining a robust control and documentation framework.
Oversee pricing vendors and third-party service providers, including due diligence, methodology review, ongoing monitoring, and accountability for quality, transparency, and performance, as well as oversight of price challenge and escalation processes.
Identify valuation risks and process gaps, and proactively implement enhancements to strengthen controls, efficiency, and overall effectiveness.
Work with auditors on valuation matters, including supporting audits and facilitating detailed review of methodologies, assumptions, and controls.
Design, review, and oversee complex valuation models, ensuring alignment with industry practices and regulatory expectations.