ROLE SUMMARYNorthern Trust Asset Management (NTAM) is a trillion-dollar investment management firm entrusted by investors around the globe to help them navigate changing market environments so they can confidently realize their long-term objectives.
The Pricing and Valuation function is responsible for valuation oversight, fair value governance, pricing controls, valuation methodologies, regulatory reporting, and associated activities across NTAM's clients, accounts, and funds. This role will report to the Global Head of Valuations and play a key role in supporting NTAM's valuation framework through the oversight of valuation methodologies and models, review of complex and illiquid securities, and support of valuation governance processes, including committee reporting and pricing oversight activities.
The role combines valuation analysis and model oversight with governance, committee support, pricing oversight, and valuation process improvement activities.
The successful candidate will contribute to the continued evolution of a world-class Pricing and Valuation organization by identifying, developing, and championing initiatives that enhance valuation capabilities, strengthen governance and controls, improve automation and reporting, and support compliance with evolving regulatory and accounting requirements.
PRIMARY DUTIES AND RESPONSIBILITIESAs a member of the Pricing and Valuation team, drive excellence across valuation oversight, fair value governance, and model management activities supporting NTAM clients, accounts, and funds. Responsibilities include:
- Perform day-to-day valuation oversight activities related to fair valuation, ASC 820/FAS 157 leveling determinations, valuation methodology reviews, and associated reporting processes.
- Develop, maintain, enhance, and document internal valuation models used to support the fair valuation of complex and illiquid securities.
- Perform independent reviews and challenge assessments of third-party valuation models, methodologies, assumptions, and outputs to ensure valuations are reasonable, supportable, and consistent with industry practices.
- Research and analyze complex valuation matters including private investments, contingent value rights (CVRs), escrow positions, proxy securities, delisted securities, suspended securities, and other hard-to-value investments requiring fair value determinations.
- Support the Pricing and Valuation Committee (PVC) through preparation of analyses, valuation recommendations, governance materials, methodology approvals, and periodic committee reporting.
- Ensure governance and oversight of fair value pricing methodologies and valuation models, including periodic reviews, validation, documentation, and performance monitoring.
- Review pricing exceptions, valuation overrides, and other valuation-related control reports to identify and escalate matters requiring further analysis or governance review.
- Collaborate with Compliance, Risk, Fund Administration, Investment Teams, and other stakeholders to address valuation matters and advance NTAM's valuation and reporting capabilities.
- Support oversight of third-party pricing vendors and valuation service providers, including periodic due diligence reviews and assessments of pricing methodologies, controls, and service quality.
- Contribute to process improvement, automation, and reporting initiatives designed to enhance scalability, transparency, and operational effectiveness across the Pricing and Valuation function.
- Support internal and external audit requests, regulatory inquiries, and valuation governance reviews.
- Assist in maintaining valuation policies, procedures, methodologies, and supporting documentation to ensure compliance with regulatory and governance requirements.
- Train and mentor junior analysts on valuation techniques, modeling approaches, fair value methodologies, and valuation governance practices.
- Monitor key risk indicators and operational metrics to evaluate the effectiveness of valuation oversight processes and identify opportunities for continuous improvement.
NECESSARY KNOWLEDGE AND SKILLS- Strong understanding of valuation principles and methodologies, including the Income Approach, Market Approach, and Asset Approach, with experience applying discounted cash flow analyses, market multiple methodologies, and asset-based valuation techniques.
- Knowledge of ASC 820 fair value measurement concepts, valuation governance practices, and valuation methodologies across public and private market investments.
- Experience analyzing complex and illiquid securities where observable market data may be limited, requiring the application of professional judgment and alternative valuation techniques.
- Strong analytical and problem-solving skills with the ability to synthesize incomplete or imperfect information, identify key valuation drivers, and develop well-supported conclusions.
- Experience reviewing and challenging third-party valuation reports, assumptions, methodologies, and outputs for reasonableness and supportability.
- Understanding of the investment management industry, multiple asset classes, pricing and valuation techniques, and investment technology platforms utilized within an asset management environment.
- Experience utilizing valuation, market data, and analytical platforms. Proficiency with Bloomberg and Capital IQ is strongly preferred.
- Excellent written and verbal communication skills, including the ability to clearly communicate complex valuation methodologies, assumptions, and conclusions to both technical and non-technical audiences.
- Experience preparing materials and presenting analyses to governance committees, senior management, and other stakeholders, with the ability to effectively defend valuation conclusions and recommendations.
- Strong relationship-building and collaboration skills, with experience partnering across investment teams, risk, compliance, fund administration, and other stakeholder groups.
- Experience identifying process improvement opportunities and implementing enhancements to increase efficiency, scalability, transparency, and control effectiveness.
- Strong organizational skills, attention to detail, sound judgment, and the ability to manage multiple priorities in a dynamic environment.
NECESSARY EXPERIENCE AND EDUCATION- Bachelor's degree in Finance, Accounting, Economics, Business, or a related field required; Master of Business Administration (MBA), Chartered Financial Analyst (CFA), or Certified Valuation Analyst (CVA) designation preferred.
- 3-7 years of relevant experience in valuation, pricing oversight, investment management, audit, or valuation advisory functions at a mid-to-large investment manager, public accounting firm, or valuation consulting firm.
- Familiarity with developing, maintaining, or reviewing valuation models utilizing the Income, Market, and Asset Approaches.
- Experience valuing complex, illiquid, or hard-to-price securities and investments is strongly preferred.
- Proficiency with investment, valuation, pricing, reporting, and analytical platforms and databases; experience with Bloomberg and Capital IQ is strongly preferred.
- Advanced Excel modeling and analytical skills, including the ability to analyze financial statements, market data, and valuation assumptions.
- Experience supporting valuation committees, governance processes, audits, or regulatory reviews is preferred.
WORKING MODEL: HYBRIDWe have a balanced hybrid working model to ensure you get the flexibility you need, and the successful candidate will spend their time between working in the office and working from home.
Salary Range:
$88,900 - 151,100 USD
Salary range is a good faith estimate of base pay. Northern Trust provides a comprehensive benefits package including retirement benefits (401k and pension), health and welfare benefits (medical, dental, vision, spending accounts and disability), paid time off, parental and caregiver leave, life & accident insurance, and other voluntary and well-being benefits. Northern Trust also provides a discretionary bonus program that may include an equity component.
