Senior Manager - Valuation

The opportunity

Reporting to the Director, Valuation, the Senior Manager 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

You work cross-functionally with internal and external partners within OTPP.

What you'll do

1. Lead the planning and execution of the mid-year and year-end valuation processes during peak periods, including:

• Prepare and lead all aspects of the review of “fair value” valuations prepared by OTPP’s Investment teams including the preparation of analysis and summary memorandums in respect thereof
• Develop an appropriate understanding of the assigned investments and remaining current on individual investment developments through participation in Investment team portfolio monitoring meetings and/or site visits with company management
• 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
• 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

2. Work 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
• Ensure outstanding service is provided to the Investment Division with respect to private investment valuations
• Respond to inquiries and requests from the Investment Division including consultation on new transactions where required

3. Manage 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
• Lead 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
  • Supervising 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
• Ensuring outstanding service is provided by external parties

4. Training, mentoring and Supervision of junior staff, including:

• Actively participating in the hiring of junior staff and co-op students
• Develop training material and provide on the job mentoring and train junior staff with respect to valuation standards, practices, and internal process requirements to ensure the execution of effective and efficient valuation processes

5. Ensure OTPP’s valuation policies and practices remain best practice, including:

• Review and monitor external valuation standards and practices
• Be involved in the annual review and update of OTPP’s valuation policies including recommending changes based on changes in standard methodology valuation guidelines and practices
• Prepare any required OTPP board reporting with respect to any recommended process or policy changes
• The nature of the relationship with partners requires a high degree of integrity, diplomacy, persuasiveness and the ability to defend one’s position and to be able to influence consensus towards the final conclusion
• There is a high degree of decision making and discretion required in this role. Often required to manage multiple competing priorities
• This position serves as a direct resource to the Director, Valuation and is encouraged to make operational decisions. On complex issues, the Senior Manager, Valuation is expected to have fully researched the issues, provide recommendations, and an implementation plan. The Senior Manager, Valuation will see initiatives through to implementation as well as create relevant reporting for partners

What you'll need

• Relevant university degree
• A professional accounting designation
• A Chartered Financial Analyst (“CFA”) and/or Chartered Business Valuator (“CBV”) designation OR equivalent international accreditation/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, and private debt 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 crucial
• 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.
• Experience in private investment valuations (minimum 5 years)
• Previous experience in coaching, training and developing staff
• Experience interacting with senior management and external advisors is critical
• Experience in data analytics/visualization tools such as PowerBI is an asset

What we’re offering

• Numerous opportunities for professional growth and development

• Comprehensive employer paid benefits coverage

• Retirement income through a defined benefit pension plan

• The opportunity to invest back into the fund through our Deferred Incentive Program

• A flexible work environment combining in office collaboration and remote working

• Competitive time off

• 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

At Ontario Teachers', diversity is one of our core strengths. We take pride in ensuring that the people we hire and the culture we create, reflect and embrace diversity of thought, background and experience. Through our Diversity, Equity and Inclusion strategy and our Employee Resource Groups (ERGs), we celebrate diversity and foster inclusion through events for colleagues to connect for professional development, networking & mentoring.  We are building an inclusive and equitable workplace where our talent is respected, accepted and empowered to be themselves.  To learn more about our commitment to Diversity, Equity and Inclusion, check out Life at Teachers'.

How to apply

Are you ready to pursue new challenges and take your career to the next level? Apply today! You may be invited to complete a pre-recorded digital interview as part of your application.

Accommodations are available upon request ([email protected]) for candidates with a disability taking part in the recruitment process and once hired.

Candidates must be legally entitled to work in the country where this role is located.

Ontario Teachers’ may use AI-based tools to assist in screening and assessing applicants for this position. These tools may help us identify candidates whose skills and experience align with Ontario Teachers’ objectives by analyzing information provided in resumes and applications. Our use of AI does not replace human decision-making.

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Functional Areas:

Finance

Vacancy:

Current

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