Senior Manager, Valuation - 12-month contract

Ontario Teachers' Pension Plan • Toronto, ON

37d • Hybrid

About The Position

The opportunity The Senior Manager, Valuation will be responsible for the execution of OTPP’s semi-annual private investment valuation processes, for the purpose of OTPP’s mid-year and year-end financial statement reporting. Private portfolio investments asset classes include private equity, infrastructure, natural resources, venture capital, real estate, and private credit. This position will also actively involve training and reviewing the work of junior staff. Who you'll work with The Senior Manager will report to the Director, Valuation. What you'll do Leading the planning and execution of the mid-year and year-end valuation processes during peak periods, including: 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 Developing an appropriate understanding of the assigned investments and remaining current on individual investment developments through participation in Investment team portfolio monitoring meetings Review the fair value valuations prepared by external valuation agents Develop recommendations of fair value to be used for the purposes of OTPP’s financial statements Support the Director, Valuation in the development, tracking and reporting of plans and timelines to ensure an effective and efficient valuation process Develop the standards for reviews and the corresponding processes to be followed by the staff involved in the valuation process Respond to queries/information requests from OTPP’s external auditors with respect to the private investment valuations Communicate noted issues and generate solutions with respect to the valuation process or specific investment valuations to the Director, Valuation on a timely basis Interface with the Investment Division with respect to the valuations, including: Coordinating processes and deliverables to facilitate the execution of a smooth mid-year and year-end valuation process Communicating noted issues with respect to the process and/or issues identified with respect to specific investment valuations Ensuring exceptional service is provided to the Investment Division with respect to private investment valuations Responding to inquiries and requests from the Investment Division including consultation on new transactions where required Managing external advisor involvement in the mid-year and year-end valuation process, including: Develop recommendations on the nature and use of external advisors including the selection of specific advisors and the scope of their review Managing the entire process around the use of external advisors including: Execution of terms of engagement with specific advisors Establishing timelines, deliverables and reporting processes for external advisors Ensuring internal information required by external advisors is provided by both the Investment Division and Finance in accordance with established timelines Monitoring and reporting on progress of external advisor deliverables and associated costs Review and incorporation of external advisor recommendations/findings into OTPP’s recommendations on fair value Communicating noted issues, and generating solutions, to the Director, Valuation on a timely basis Ensuring exceptional service is provided by external parties Training, coaching and Supervision of junior staff, including: Be involved in the hiring of junior staff Develop training material for junior staff Provide on the job coaching and train junior staff with respect to valuation standards, practices, and internal process requirements to ensure the execution of effective and efficient valuation processes Ensure OTPP’s valuation policies and practices remain best practice, including: Review and monitoring of external best practice valuation standards and practices Be involved in the annual review and update of OTPP’s 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 process or policy changes Contribute to OTPP Board reporting with respect to the results of the mid-year and year end private investment valuation processes Contribute to ad-hoc projects supporting the execution of the broader Finance division strategy

Requirements

• Relevant university degree
• A professional accounting designation (“CPA”), a Chartered Financial Analyst (“CFA”) and/or Chartered Business Valuator (“CBV”) designation
• Valuation Knowledge – This position requires a solid understanding and application of the principles and complexities of private asset valuation. This includes experience in the application of various valuation approaches as it might relate to private equity, infrastructure, venture capital, natural resources, real estate, private debt, and other private investments.
• Analytical Thinking and Financial Modelling Skills – Strong analytical thinking, variance analysis, and financial/cash flow modelling skills are important to the execution of the valuation review process. Having a comfort level in reviewing large and complex financial models is important.
• Project Management Skills – OTPP’s valuation process involves the completion of an extensive number of valuation reviews and coordination across multiple departments and teams including within Finance. Effective planning and project management skills to set priorities, coordinate tasks, supervise junior staff and meet deadlines are essential.
• Written Communication Skills – This position requires the preparation of written memoranda supported by in-depth valuation analyses. Strong written communication skills are required to ensure Finance’s memoranda are written clearly and concisely, address the key valuation risks identified and adequately support Finance’s recommendation of fair value.
• Verbal Communication Skills – This position requires interaction with internal management and various OTPP Investment Division teams for the purpose of completing the valuation review. The nature of the relationship with these parties requires a high degree of professionalism.
• Experience in private investment valuations (minimum 8 years)
• Previous experience in coaching, training and developing staff
• Experience interacting with senior management, external advisors and external auditors is critical

Responsibilities

• Leading the planning and execution of the mid-year and year-end valuation processes during peak periods
• 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
• Developing an appropriate understanding of the assigned investments and remaining current on individual investment developments through participation in Investment team portfolio monitoring meetings
• Review the fair value valuations prepared by external valuation agents
• Develop recommendations of fair value to be used for the purposes of OTPP’s financial statements
• Support the Director, Valuation in the development, tracking and reporting of plans and timelines to ensure an effective and efficient valuation process
• Develop the standards for reviews and the corresponding processes to be followed by the staff involved in the valuation process
• Respond to queries/information requests from OTPP’s external auditors with respect to the private investment valuations
• Communicate noted issues and generate solutions with respect to the valuation process or specific investment valuations to the Director, Valuation on a timely basis
• Interface with the Investment Division with respect to the valuations
• Managing external advisor involvement in the mid-year and year-end valuation process
• Training, coaching and Supervision of junior staff
• Ensure OTPP’s valuation policies and practices remain best practice
• Contribute to OTPP Board reporting with respect to the results of the mid-year and year end private investment valuation processes
• Contribute to ad-hoc projects supporting the execution of the broader Finance division strategy

Benefits

• Competitive compensation
• Numerous opportunities for professional growth and development
• A flexible work environment combining in office collaboration and remote working
• Our Flexible Travel Program gives you the option to work abroad in another region/country for up to a month each year
• Employee discount programs including Edvantage and Perkopolis

What This Job Offers

• Career Level: Senior