Valuation Specialist

Neuberger Berman•New York, NY

4d•$215,000 - $255,000•Hybrid

About The Position

Neuberger is looking for a Valuation Specialist for the NB Alternatives platform. This role represents an opportunity to build out a centralized valuation team supporting the overall NB Alternatives platform.

Requirements

Team oriented individual who can help train and develop others to expand capabilities and capacity of the Valuation Team
Strong project management, communication and presentation skills
Possess problem-solving, data analytical, and valuation skills
Strong knowledge of valuation methodologies and advanced excel capabilities
Quantitative finance background with knowledge of financial products, specifically in private equity and private credit strategies
At least 10 years of experience in valuation or investment banking/advisory with exposure to alternative assets
Working knowledge of US GAAP fair value guidance (ASC 820, ASC 946), IPEV guidelines and AICPA PE/VC valuation guide
Experience with valuation techniques: market approach (comps, precedent transactions), income approach (DCF), option-pricing/waterfall allocation, and credit spread/yield analyses
Experience with valuation and data platforms (e.g., Bloomberg, FactSet, CapIQ, ICE, Burgiss/Cambridge) and portfolio/accounting systems
Strong attention to detail, with ability to manage multiple deadlines in a monthly and quarterly reporting cycles
Strong judgment, integrity and ability to challenge assumptions and communicate with senior stakeholders, auditors and third-party providers
Familiarity with regulatory frameworks affecting registered funds and private funds (1940 Act, Advisers Act)

Nice To Haves

CFA designation strongly preferred
advanced degree or additional credentials (CPA, ASA, CVA, FRM) a plus

Responsibilities

Work closely with and support the Head of Private Markets Valuation
Support the preparation of daily, monthly and quarterly valuation models and portfolio analytics for various asset classes related to private equity and private credit strategies
Perform model validation on new valuation models
Coordinate with Operations, Accounting, Information Technology, Risk and other supporting teams on pricing, valuation, P&L and valuation model inputs/outputs
Assist the Head of Private Markets Valuation in managing the valuation process on market data and inputs to the valuation private equity and private credit models (comparable companies, waterfalls, yield curve, volatility, credit curves, etc.) and ensure the valuation process is valuation policy compliant
Work closely with the Information Technology team to implement valuation setup for new products and automate current processes
Manage the relationship with third-party valuation service providers as it relates to point estimates, range of values and positive assurance reports
Manage and coordinate communications with fund auditors throughout the valuation audit cycle and throughout the calendar year as necessary
Support the quarterly NAV close process for private equity, private credit, co-investment and secondaries strategies, including review of GP/manager-reported capital account statements, roll-forwards and stale-value adjustments
Prepare and maintain valuation memos and supporting documentation evidencing fair value determinations under ASC 820 and ASC 946
Support Valuation Committee meetings, including preparing materials, tracking open items and documenting approvals and follow-ups
Perform quarter-over-quarter and period-over-period variance, attribution and back-testing analyses (e.g., marks vs. realized exit prices) and escalate material valuation movements
Monitor and assist with implementation of evolving accounting and regulatory requirements, including FASB proposals affecting ASC 946 disclosures (e.g., disclosure of discounts attributable to contractual sale restrictions on publicly traded equity securities) and Rule 2a-5 / valuation policy requirements
Support fair value hierarchy classification (Level 1/2/3), Level 3 unobservable input disclosures and footnote/financial statement reporting
Maintain the valuation policy and procedures, controls, and internal-control testing evidence
Develop dashboards, KPIs and management reporting on valuation coverage, timeliness, and exceptions
Assist with investor, consultant, DDQ and regulatory inquiries related to valuation
Identify and drive process improvements, including automation of manual valuation processes
Support valuation of new investments at onboarding, including calibration of models to transaction price