Valuations Manager - Luxembourg

At M&G our purpose is to give everyone real confidence to put their money to work. As an international savings and investments business with roots stretching back more than 170 years, we offer a range of financial products and services through Asset Management, Life and Wealth. All three operating segments work together to deliver attractive financial outcomes for our clients, and superior shareholder returns.

Through our behaviours of telling it like it is, owning it now, and moving it forward together with care and integrity; we are creating an exceptional place to work for exceptional talent.

We will consider flexible working arrangements for any of our roles and also offer work place accommodations to ensure you have what you need to effectively deliver in your role.

Valuations Manager - Luxembourg

Vision – A fully integrated M&G Group Valuation Governance Framework that is understood and respected by the business and supported by a highly capable valuation governance team

• • Understand the key valuation controls that exist across the group:
    • Ensure these are documented at an appropriate level which should be owned and understood by the valuations governance framework. 
    • Ensure gives insight into these controls evidencing their appropriateness and effectiveness.
    • Have escalation procedures in place in order to have an awareness of changes to or deficiencies within the controls that are being raised to the relevant oversight Fora or committees by the operating business units.
    • Create awareness and oversight of valuation activity executed by a third party administrator through MI
    • Create an awareness of valuation oversight controls in relation to outsourced valued funds
    • Due Diligence on third parties, external valuers
    • SLAs agreements and measure and monitor  
    • Oversight actions being taken forward regarding second line reviews
    • Oversight reporting to the key Luxembourg governance committees and boards as appropriate
    • Conducting a regular end-to-end review of the valuations process covering both BAU and exceptions management
  • Ensure the exception to policy process is understood by all involved parties and executed to the defined standard
    • Documented process and training facilitated
    • Templates reviewed for consistency
    • Management information on exceptions and key control failures to relevant Committees
    • Central record owned and reviewed quarterly for completeness

• • Understand the valuation methodologies used across asset classes in order to create consistency where appropriate and highlight inconsistencies and the rationale for them

• • • Technical understanding of then valuation of all assets classes including Real Estate and Alternatives
    • Full understanding of the business processes and an awareness of industry standards and documenting the differential
    • Representation on industry bodies on valuations and others as appropriate (ALFI, ALRIM etc.)
    • Strong asset and instrument knowledge for approval of new instruments and valuation techniques
    • Document the varying valuation methodologies and processes used for funds under the Luxembourg Management Company’s remit utilising information from respective business units

• • Ensure documentation owned by the Valuation Sub Committee is current and appropriate
  • Oversee that investments are priced in line with the valuation policy
    • Recipient of MI for in house valuation activity
    • Recipient of affirmation that valuations sourced by a third party administrator have been sourced in line with the price source agreement

Key Responsibilities

•            Provide oversight and review of pricing & valuation activities.

•            Oversee fair value exception memos (standards, consistency, parameters)

•            Update and manage policy documentation (M&G Valuation Policy, Senior Floating Asset Policy, Valuation Sub Committee (“VSC”) Terms of Reference).

•            Identify and communicate regulatory changes and impacts on valuations to appropriate stakeholders.

•            Review & approve new or changes to valuation methodologies, policies, internal tolerances, vendors etc.

•            Document valuation models and the inputs that go into said models.

•            Act as liaison point for new instruments. Ensure support can be achieved, testing undertaken before investment and that final approval at VSC is received.

•            Understand internally-priced assets, why they are internally priced and the valuation methodologies used to value these.

•            Attend the relavant committees and fora and bring Governance expertise

·                 Present Valuation control failures or exceptions to the Luxembourg Local Control Committee and proposed remedies

•            Assist all teams in the closure of valuation audit points acting as a central point of contact for auditors

•            Create a framework for annual PSA reviews

•            Ensure valuation training is provided to Committee members and front office personnel as required.

Recruiter: Sarah Hawkins

We have a diverse workforce and an inclusive culture at M&G plc, underpinned by our policies and our employee-led networks who provide networking opportunities, advice and support for the diverse communities our colleagues represent. Regardless of gender, ethnicity, age, sexual orientation, nationality, disability or long term condition, we are looking to attract, promote and retain exceptional people. We also welcome those who take part in military service and those returning from career breaks.