AddressPosition Summary:
Describe below the primary purpose and function of this job.
The Securities Valuation Team ("SVT") within Risk and Valuation Services is primarily responsible for ensuring that the financial instruments held within company investment portfolios are valued in accordance with internal policies and procedures and regulatory guidelines and that the prices for such instruments reflect current market value.
The Securities ValuationTeam Lead will work closely with the Investment Risk and Oversight teams within Investment Services as well as the affiliate investment teams to understand the investment strategies of the respective managers and the financial instruments held within the funds from a valuation perspective. The Team Lead will develop and oversee review activities conducted by SVT Associates and external administrators in order to assess the quality of security prices received, primarily from independent pricing services.
The Team Lead is also responsible for ensuring valuation-related disclosures accurately reflect SVT processes.
Key Duties & Responsibilities: List up to 5 key duties and responsibilities, management responsibilities and time spent (if applicable)
i- Oversee the timely and accurate execution of daily valuation reporting activities including price exception reporting, purchase/sales price testing, unchanged price reviews and vendor comparison reporting, for example.
ii- Develop and implement fair value pricing models for complex financial instruments including troubled debt securities, structured products, private investments, OTC derivatives and corporate action entitlements
iii- Develop and oversee periodic model validation activities to ensure model techniques, inputs and assumptions are applied appropriately.
iv- Participate in various affiliate committees including affiliate valuation and distressed credit committees, for example.
V- Analyze existing control framework; conduct assessments of oversight processes, independent pricing and accounting services, coverage developments and recommend and implement new tools to enhance control effectiveness.
Vi- Assist with the annual review process and recommend updates, if appropriate, to the Valuation Policies and Procedures that apply to the Funds, ETFs, UCITS and UIT's.
vii- Prepare and update written policies and procedures for review activities conducted by SVT.
viii- Prepare written Securities Valuation-related communications including Valuation Committee meeting minutes, Valuation Committee, Audit Committee and Fund Board reports and memorandums.
ix- Assist with Securities Valuation-related disclosures found in the fund prospectus, SAI, quarterly NQ filings, semi-annual and annual shareholder reports. Collaborate with the Fund Administration and Legal teams to ensure such disclosures (including ASC 820 leveling disclosures) are in accordance with regulatory guidelines and fairly reflect valuation processes and procedures.
X- Analyze and assess reasonability of fund level NAV impacts of price changes and corporate action events with an understanding of securities markets and valuation techniques used to price financial instruments held in the funds.
Xi- Analyze corporate action events and ensure resulting entitlements are timely recorded and reflect current market value.
Xii- Actively participate and represent SVT in several internal Committees including the Disclosure Oversight Committee (NDOT) and the Liquidity Oversight Sub-committee.
Manage performance of at least one SVT Associate; provide feedback, coaching and development opportunities as well as periodic performance evaluations.
Required Education: Finance or Accounting
Preferred Education: MBA, CA
Required Experience: 10-15
years Investment management including investment operations, fund accounting, trading or comparable experience, with Securities Valuation, securities analysis and/or corporate action experience preferred
