Job

Senior Director, Capital Market Valuations

Posted 31 January 2024

Senior Director, Capital Market Valuations at Healthcare of Ontario Pension Plan

Portfolio Management Full-time Toronto

Experience: Senior-Level
Salary Range: Not Specified

Close date: 30 March 2024

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Position Description

Why you’ll love working here:

  • high-performance, people-focused culture
  • our commitment that equity, diversity, and inclusion are fundamental to our work environment and business success, which helps employees feel valued and empowered to be their authentic selves
  • learning and development initiatives, including workshops, Speaker Series events and access to LinkedIn Learning, that support employees’ career growth
  • membership in HOOPP’s world class defined benefit pension plan, which can serve as an important part of your retirement security
  • competitive, 100% company-paid extended health and dental benefits for permanent employees, including coverage supporting our team's diversity and mental health (e.g., gender affirmation, fertility and drug treatment, psychological support benefits of $2,500 per year, and newly extended maternity/parental leave top of 26 weeks)
  • optional post-retirement health and dental benefits subsidized at 50%
  • yoga classes, meditation workshops, nutritional consultations, and wellness seminars
  • access to an annual wellness reimbursement program for health and wellness-related expenses for permanent and temporary employees
  • the opportunity to make a difference and help take care of those who care for us, by providing a financially secure retirement for Ontario healthcare workers

Job Summary

Reporting to the VP, Investment Reporting, Data Governance & Valuations of the Finance Division, the Senior Director is responsible for providing leadership to the valuations function at HOOPP for all asset classes, excluding private investments. The incumbent serves as a valuation expert for HOOPP’s portfolio of complex physical and derivative securities. Valuations inform key decisions at HOOPP, including asset allocation, risk management and financial reporting. Accordingly, the integrity, accuracy, and timeliness of valuation of the Capital Markets portfolio is critical in delivering on our mandate. In addition, the Senior Director is also responsible for overseeing the calculation, analysis and reporting of several important measures to support daily portfolio management. The role requires strong partnership with other senior leaders across Finance, Risk, IT, and considerable interaction with investment professionals in the Investment Division. The Senior Director is also required to liaise with peers in the industry, HOOPP’s auditors, regulators, and other external parties.

What you will do:

  • Lead and direct a team of valuation professionals. This encompasses providing strategic direction, planning and prioritization of work as well as establishing the department structure and related staffing requirements, training plans and annual objectives.
  • Build a high-performance team and develop staff competencies to meet the department’s mandate through coaching, mentoring, and providing feedback to staff on a continuous basis .
  • Create a culture of teamwork and knowledge-sharing throughout the Finance Division and HOOPP. Instill in the team the spirit of innovation and continuous improvement.
  • Provide oversight over the valuation process for marketable securities and complex derivative contracts. This includes overseeing the design, development, and implementation of valuation framework, methodologies, and models to ensure accurate and timely valuations of investments, consistent with best practices and professional standards.
  • Provide leadership and expertise in the research, development, testing and implementation of complex pricing models and scenarios.
  • Oversee the selection and ongoing monitoring of external valuation service providers.
  • Contribute to the preparation of note disclosures to HOOPP’s financial statements as they relate to valuations of capital markets investments.
  • Contribute to the annual financial statement audit process and serve as a key point of contact for valuation-related matters.
  • Manage relationship with investment professionals in the Investment Division and effectively respond to valuation queries or challenges, while maintaining independence.
  • Collaborate and maintain effective relationships with key stakeholders across Finance, Investment Management, Risk, Legal, IT, as well as internal and external auditors.
  • Build and maintain relationships with external valuation service providers and industry peers to stay abreast of industry best practices, market trends and regulatory requirements related to valuation practices and standards.
  • Where there are changes, assess the impact on HOOPP, make recommendations and oversee the implementation of changes in policies, processes and staffing to ensure HOOPP is in compliance with regulatory requirements and meeting industry best practices.
  • Provide oversight to ensure appropriate level of controls are designed, implemented, and maintained for model development and price feeds.
  • Champion the evolution of workflow design and automation to continuously improve efficiency and implement a framework of robust controls to reduce operational risk.

About HOOPP

Established in 1960, the Healthcare of Ontario Pension Plan (HOOPP) is a multi-employer defined benefit pension plan for Ontario's hospital and community-based healthcare sector. We serve more than 435,000 members who provide valued healthcare services at more than 630 employers across the province. At HOOPP, we exist to provide a stable and reliable pension for our members that starts in retirement and is paid for life. As one of Canada's largest and most respected pension plans, HOOPP's net assets reached $103.7 billion at the end of 2022 and our funded status remained strong and stable at 117%.

HOOPP's core values - professional, accountable, collaborative, compassionate and trustworthy - guide our every interaction with our members, employers and employees. We've become one of Canada's leading pension plans by consistently challenging ourselves and embracing innovation.
From our unique investment management approach to our innovative technology and thought-provoking research, we constantly seek to push the boundaries, and we do this by hiring passionate, forward-thinking people.

Our high-performance culture is founded on collaboration, respect and belonging. HOOPP is an equal opportunity employer and we're proud of our diversity. We select applicants for employment solely on the basis of their qualifications. Should you require accommodation because of a disability during the recruitment and selection process, please contact our Human Resources team at [email protected]. We will be happy to consult with you so that arrangements can be made for reasonable accommodation.

Required Skill / Experience

What you bring:

  • Completion of University undergraduate degree in Finance, Accounting, Mathematics, Economics, or related discipline.
  • A CPA or CFA designation is required with at least one other finance or valuation designation such as CBV, ASA, AACI/MRICS strongly preferred.
  • Minimum of 15 years of progressive management experience in the valuations department of a large, global asset manager, with proven ability to provide leadership and strategic direction.
  • Previous investment management experience is an asset.
  • In-depth knowledge and experience with complex derivative products/strategies, their valuation, and associated risks.
  • Pragmatic leader with the ability to maintain independence and conviction in their valuation approach.
  • Conceptual and abstract thinker who has excellent verbal and written communication skills, including experience reporting and presenting to senior management and Board levels.
  • Ability to exercise authority through influence, implement change, and standardize processes in an ever-changing landscape.
  • Superior strategic thinking and planning skills, including the ability to set priorities, identify opportunities and distill business implications from research and data.
  • Strategic and independent thinker able to make decisions in ambiguous situations.
  • Strong organizational skills, including the ability to manage complex processes that cut across Divisional business units in a diplomatic and professional manner.
  • Excellent collaboration and relationship management skills, including the ability to manage and strengthen relationships across the HOOPP enterprise, with senior executives, Board members, external stakeholders, and service providers.
  • Proven ability to interact with all levels of the organization confidently and effectively and to build strong working relationships in a team-oriented, collaborate environment.

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