The Senior Manager will have two primary responsibilities:
1. This position will be responsible for the valuation function for a portion of OTPP’s Private Investments which includes in excess of 150 investments across a number of asset classes private equity, real estate, natural resources, infrastructure, and venture capital. Together with the current Senior Manager, this position will help manage a small team of dedicated valuation staff.
2. Responsible for managing Finance’s risk methodology validation function for Private Investments. This will include the management of both internal team members and external service providers, as considered necessary, to assess the risk methodology developed by OTPP’s Asset Mix and Risk department for Private Investments and validate key assumptions and inputs used to support the associated risk determination.
1. Leading the planning and execution of the quarterly and year end valuation processes for the assigned portion of the Private Investments portfolio.
- Developing an appropriate understanding of the assigned Private Investments and remain current on individual investment developments through participation in Investment team portfolio monitoring meetings and/or site visits with company management.
- Oversight of the review of “fair value” valuations prepared by OTPP’s Investment teams by Investment Finance including the preparation of analysis and summary memorandums in respect thereof
- Review of fair value valuations prepared by external valuation agents
- Responsible for the recommendation of fair value to be used for the purposes of OTPP’sfinancial statements
- Development, tracking and reporting of plans and timelines to ensure an effective and efficient valuation process
- Development of the standards for reviews and the corresponding processes to be followed by the staff involved in the valuation process
- Responding to queries/information requests from OTPP’s external auditors with respect to private investment valuations
- Communication of noted issues with respect to the valuation process or specific private investment valuations to Investment Finance senior management on a timely basis
- Responsible for the preparation of OTPP board reporting with respect to the results of the year end private investment valuation process.
2. Leading and executing Finance’s risk methodology validation process for Private Investments.
- Development of the operating model for the execution of the risk methodology validation process including the use of internal team members and external service providers.
- Oversight of the review of key assumptions/decisions employed in the development of the risk methodology for classes of Private Investments and/or individual Private Investments and concluding on their appropriateness.
- Working with appropriate stakeholders including Asset Mix & Risk, Investment Departments and other Finance teams to communicate and develop solutions for findings and recommendations.
- Development, tracking and reporting of plans and timelines to ensure an effective and efficient process
- Ensuring appropriate documentation is created and maintained for the relevant analysis, findings and conclusions.
3. Managing relationships with relevant Investment Division senior management and other internal departments.
- Interfaces with the Investment Division with respect to private investment valuations including:
- Planning, management and coordination of processes and deliverables to facilitate the execution of a smooth quarterly and year end valuation process
- Communication of noted issues with respect to the process and/or issues identified with respect to specific private investment valuations
- Discussion of any proposed changes to established valuation practices and processes
- Respond to inquiries and requests from the Investment Division including consultation on new transactions where required
4. Responsible for the management of OTPP’s use of external advisors employed in the private investment valuation and risk methodology validation processes and the management of the corresponding relationships
- 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 Investment Finance in accordance with established timelines
- Monitoring and reporting on progress of external advisor deliverables and the associated costs
- Review and incorporation of external advisor recommendations/findings into OTPP’s recommendations on fair value or appropriateness of risk methodology assumptions
- Communication of noted issues to Investment Finance senior management, Asset Mix & Risk, and the Investment Division, where necessary, on a timely basis
- Responsible for ensuring exceptional service is provided by external parties
5. Together with the current Senior Manager, leading a small team of dedicated valuation personnel (5)
- Directly manages a small team who are responsible for providing the valuation expertise and valuation reviews
- Makes recommendations to increase or decrease head count where necessary
- Recruits staff to fill vacancies
- Develops and trains staff with respect to internal standards, practices and process requirements to ensure the execution of effective and efficient valuation and risk methodology validation processes.
- Conducts performance evaluations, career development and coaching for direct employees
6. Ensuring OTPP’s policies and practices with respect to valuation and risk methodology validation remain best practice
- Establishing best practice reviews of internal methodologies and processes with a view to continuous process improvement
- Monitoring external best practice standards (e.g. IPEV Valuation Guidelines) and practices
- Responsible for the annual review and update of OTPP’s private investment valuation policies including recommending changes based on changes in best practice valuation guidelines and practices
- Preparation of any required OTPP board reporting with respect to any recommended policy changes
7. Acting as a subject matter expert for private investment valuations for other Investment Finance or Investment Division groups as required.
- Consult with other Investment Finance groups on valuation methodologies and approaches to be applied in different product areas
- Respond to queries from the Investment Division with respect to private investment valuation methodologies and standards
Knowledge and Experience:
- Relevant university degree
- A Chartered Business Valuator designation is a strong asset
- A professional accounting degree (CA/CPA, CGA, CMA) is a requirement.
- Extensive experience (7 – 10 years) working with private investments which could include investing, valuing and/or conducting due diligence in respect of private investments
- Previous experience (5+ years) in managing people and leading teams
- Experience interacting with senior management and other external advisors
Please apply for the role directly through our website
Closing date – January 10, 2014