Vice President, Valuation Manager
We are PIMCO, a leading global asset management firm. We manage investments and develop solutions across the full spectrum of asset classes, strategies and vehicles: fixed income, equities, commodities, asset allocation, ETFs, hedge funds and private equity. PIMCO is one of the largest investment managers, actively managing more than $2.21 trillion in assets for clients around the world. PIMCO has over 3,025 employees in 20 offices globally. PIMCO is recognized as an innovator, industry thought leader and trusted advisor to our clients.
PIMCO is one of the world's premier fixed income investment managers with thousands of professionals around the world united in a single purpose: creating opportunities for our clients in every environment. Since 1971, we have brought innovation and expertise to our partnership with the institutions, financial advisors and millions of individual investors who entrust us with their assets. We aspire to cultivate performance and leadership through empowering our people, diversity of thought, and a commitment to an inclusive culture that engages in our global communities. Position Description:
We are seeking a Valuation Specialist to join our Valuation Specialist Team (Pricing Group). In this role, your primary responsibility will be engaging PIMCO's front office to interpret the financial markets' impact on valuation quality, oversight, and strategy.
You will also define front office-like oversight techniques of daily security valuations and provide market depth oversight of security valuations.
As a subject matter expert in the financial markets and security valuation models, you will take ownership in implementing enhancements to the valuation oversight process. Ideally, you will bring expertise in the valuation of Mortgage or Corporate Credit asset classes. You will also participate in building out new regulatory requirements for a fair valuation risk management program and derivatives risk management program for 40 Act funds.
As a Valuation Specialist, you will connect portfolio management strategy and portfolio management risk with the oversight and mitigation of operational risk within Americas Operations. In addition, you will consider how pricing and valuations impact front office workflows, such as pre-trade analysis, research, and security selection, best execution, and, eventually, the automation of processes within the trading workflow.
You will bring a unique blend of business and technical savvy, a big-picture vision, and the drive to make that vision a reality. Prior experience with front-office fixed income and knowledge in the financial markets to understand Portfolio Management pain points and implement innovative solutions regarding pricing and valuations is required.
While you will primarily focus on Data Operations (Pricing -credit, derivatives, commodities, equities, etc.), Asset Maintenance, Index Solutions, and 40-Act Liquidity Risk Programs), you will also work with other groups within Americas Operations.
The individual must communicate with all areas of PIMCO, including Portfolio Management, Risk, Development, Account Management, and operational teams. The individual will also serve as the internal and external evangelist for data operations. About You
- You challenge the status quo by asking "why" and identifies new and better ways of doing things
- You are resourceful, inquisitive, and enjoy problem-solving. Many of the concepts and/or solutions we face are sophisticated, and you bring a desire to work through these complex scenarios
- A standout teammate who builds positive relationships and collaborates across multiple levels of a globally diverse organization, including external vendors
- You have excellent interpersonal skills (verbal and written)
- You have a track record of building credibility and trust through consistent behavior, high integrity, and judgment
- Intellectual curiosity, a dedication to professional development, an ability to learn, and interest staying on top of emerging trends
- Thrives in a fast-paced environment
- High emotional intelligence
- Self-motivated, detail-oriented, takes ownership of work quality and enjoys continuous improvement
- Proven record navigating unstructured processes and simultaneously handling responsibilities with multiple, exciting demands
- Able to balance multiple priorities concurrently and manage business expectations accordingly
- Prepare and review detailed and transparent quantitative modeling and valuation recommendations for instrument types ranging from global equities, fixed income, real estate, distressed debt, and derivatives
- Engage with the Risk team to review pricing models, pricing processes and assess potential impacts to portfolios from changes
- Engage with specialty portfolio management teams to challenge and review fair valuation recommendations
- Real-time oversight of security valuations, especially in case of the material event impacting particular securities or the market more broadly
- Review valuation analyses and model functionality, opinion on evaluation approaches, and engage/challenge front office for additional inputs
- Implement enhanced testing of daily vendor pricing valuations and resolve any discrepancies promptly. Monitor, analyze, and challenge vendors where appropriate
- Institute periodic pricing review meetings by asset class to review recommendations with Portfolio Managers
- Validate applicable pricing practices are applied and maintained for daily portfolio valuations
- Employ statistical techniques to back-test vendor or fair valued prices
- Collaborate with Pricing Operations team to fulfill internal and Board reporting requirements and provide audit support
- Ability to prepare and present summary results and answer questions to governing Committees and/or boards
- Minimum of a Bachelor's Degree required. A Master's Degree from a premier institution in Accounting, Finance, Mathematics, Statistics, Engineering, Economics, or related field, highly desirable
- CFA preferred
- Prior experience working in a top-caliber financial services firm, with a strong understanding of Finance and various asset classes, including fixed income and alternatives
- Minimum 7 years of front office experience at an investment manager or bank
- Demonstrated ability to utilize quantitative, statistical, and mathematical financial techniques for independent, fair valuations of securities, including prior experience in model development, risk, valuation, and model validation development and implementation for Structured Products, Foreign Exchange, Equity, Fixed Income, and OTC derivatives.
- Ability to perform database management and programming of the valuation models, and at a minimum utilizing tools such as Excel (macros) and market data from providers such as Bloomberg, Thomson Reuters, and Intex etc.
- Knowledgeable in fixed income markets; front office experience/exposure required
PIMCO is committed to offering a comprehensive portfolio of employee benefits designed to support the health and well-being of you and your family. Benefits vary by location but may include:
- Medical, dental, and vision coverage
- Life insurance and travel coverage
- 401(k) (defined contribution) retirement savings, retirement plan, pension contribution from your first day of employment
- Work/life programs such as flexible work arrangements, parental leave and support, employee assistance plan, commuter benefits, health club discounts, and educational/CFA certification reimbursement programs
- Community involvement opportunities with The PIMCO Foundation in each PIMCO office