Manager, Valuations US

AustralianSuper•New York, NY

8h•$250,000 - $330,000•Hybrid

About The Position

Recognising the growing size and complexity of AustralianSuper’s investment portfolio, the Fund has established a Global Valuation function. This function aims to enhance our valuation policies and processes for all investment assets, as well as manage the valuation program for the Fund’s internally managed unlisted investments. Whilst your focus will be US based investments, you will be part of a Global Valuation team which operates in Australia and London. As a Manager of the Valuation team, you will assist with the development of the valuation governance framework including policy, procedures and controls, across a wide variety of asset classes and types. Working alongside our portfolio management teams, you will also be responsible for managing the independent valuation process, reviewing the valuation reports and valuation analyses for select assets in a global portfolio of totalling ~$35b (and growing) including Private Equity, Private Credit and Infrastructure. You may also be required to prepare internal valuations. You will also oversee externally managed investments, especially in Private Equity and Private Credit. This is a newly created position, that is based on-site at 1251 Avenues of the Americas, with a hybrid work schedule.

Requirements

8+ years’ experience in valuations working within a large accounting firm, a boutique valuation firm or an institutional/corporate investing organisation.
Strong technical valuation skills across broad industry segments including experience with the preparation of reports, analysis of information and drawing of conclusions.
Self-starter comfortable working in a team where project management of multiple tasks is required.
Experience managing projects with a number of stakeholders and service providers.
Excellent communication and presentation skills (both written and verbal).
Enthusiasm and a willingness to contribute to a growing function.
An inquisitive mind and ability to think laterally.
Advanced proficiency in financial modelling, specifically in the context of valuation work.
Expertise in valuing private equity assets and investments is essential, and experience with infrastructure assets is a plus.
Strong presentation skills and capability in using Excel, PowerPoint and Word.
Familiarity with S&P Capital IQ and Bloomberg.
Tertiary qualifications in Accounting, Finance or other relevant area.
Post graduate qualifications e.g. CFA or CPA.

Responsibilities

Manage the valuation of unlisted assets (performed internally or externally) on an annual, semi-annual or quarterly cycle. Activities include provision of information, facilitation of stakeholder meetings, reviewing draft independent valuation reports or internal valuation analyses, financial model checks, verifying accuracy of inputs, assessing the reasonableness of key assumptions and methodologies, performing valuation cross-checks and documenting the appropriateness of the final value.
Manage valuation risk by ensuring valuation conclusions are appropriate and ensure we have robust documentation including drafting reports and memos to support our valuation conclusions.
Contribute to the development, refinement and implementation of appropriate valuation control processes and documentation for the ongoing review of the value of unlisted investments. Monitor ongoing performance of unlisted assets and the markets within which they operate with a view to flagging out of cycle valuations.
Manage the composition of the Fund’s panel of valuers including co-ordinate RFPs for new assets or when rotation is required, including engaging valuers and negotiating terms.
Proactively liaise with Asset Class teams, Portfolio Management teams and other teams on valuation matters.
Contribute to the development of the Valuation Team’s global strategic direction and build out, identifying issues and recommendation of solutions.
Prepare and/or contribute to papers prepared for various committees and stakeholders (e.g. Finance and Audit Committee, Board, Portfolio teams etc).
Support the Fund’s audit processes including addressing issues arising out of audit findings as they relate to valuations.
Support the Fund’s regulatory obligations as well as the evolution of responsibilities.
Address matters arising from a variety of internal (asset teams, various committees etc) and external stakeholders (auditors, regulators etc) as they relate to valuation processes generally.
Ensure the Fund’s Valuation Policy and Standard is current and fit for purpose having regard to the Fund’s investment activity and broader industry developments.
Developing thought leadership material for use across the Fund.
Education across the Fund on valuation related matters and insights.
Involvement in transaction teams for new investments.
Involvement in projects to support other parts of the Fund where valuation expertise is required.
Hire and develop a high performing, diverse and engaged team who will support the successful delivery of the Fund’s strategic ambitions, and are innovative, resilient and equipped to deal with ambiguity.
Develop and manage junior team members to foster a positive team environment that is centered on continued improvement.
Ensure our Members First culture is consistently and firmly embedded across the team.
Contribute both functional expertise and broader leadership and business management ideas, skills, and experience as part of cross-Fund initiatives.
Ensure that effective career development plans are in place for the team.
Maintain and nurture internal relationships across all levels of personnel and teams the Fund.
Engage with other internal and external stakeholders such as the Valuation Committee, external and internal auditors, regulators to ensure obligations are met in a timely, accurate and efficient manner.
Understand the requirements of the Fund and its Members and other stakeholders (e.g. Board, Board Sub-committees, regulators), including the Fund’s strategic and departmental objectives and agreed service levels, to ensure their needs are being met by supplier arrangements (cost, quality and risk).
Drive evidence-based decision making – including appropriate and simple metrics that provide solid data for informed decision making, such as business strategy alignment, cost/benefit, and cost/quality/risk.
Ensure the team demonstrates ongoing continuous improvement.
Ensure relevant legislative and organisational requirements are met; keep up to date on all key changes to relevant regulations.
Ensure appropriate and relevant governance structures, policies and processes are followed, and advocate for continuous improvement to these.
Ensure risk is managed in accordance with the Fund’s Risk Management Framework including risk identification and management, risk profiling, risk reporting and incident management.
Implement strong risk controls on processes, policies and systems to ensure breaches are limited; actively build and promote a team culture of compliance and risk management awareness and appreciation.
Contribute to the Fund’s Valuation function and capability, including developing systems, controls and processes required to support the rapidly growing fund and increasing size and complexity of investment assets.
Contribute to the on-going improvement of the Fund’s Valuation Policy, Standard and other governance guidelines.
Assist in delivering regulatory requirements (e.g. APRA, external audit).