Senior Manager, Private Company Valuation (Private Credit Focus)

About This Position

We are seeking an adaptable and innovative Senior Private Company Valuation Manager to lead the successful management and execution of diverse projects with moderate to high risk and complexity. This role will have a particular focus on valuing private credit positions held by T. Rowe Price's funds.

Role Summary

The primary purpose of the team and this position is to prepare valuations of private investments - specifically private credit securities - held by T. Rowe Price and related funds. Valuations will conclude recommended fair values for our positions under guidelines established by T. Rowe Price’s Valuation Committee. The fair value ultimately is used as an input into our funds' NAVs, which are disclosed in our quarterly SEC filings and reviewed in various capacities including by our external auditors. This role requires the ability to determine recommended prices of difficult to value securities, provide robust documentation in support of the valuations, and defend and communicate the valuations to both internal and external constituents. The position sits within T. Rowe Price's Global Investment Operations department. 

Responsibilities

Valuation Activities:

• Through collecting a mosaic of information, the responsibility of the associate is to calculate, monitor, and communicate valuations of private company investments.  It will also be expected that the professional is comfortable defending the principles employed and decisions made in the valuation recommendation.  The valuation process includes spending time reviewing company and industry backgrounds, available financial information, internal projections, management projections, and/or financial market inputs.  Analysis and inputs used will include prior transaction values, comparable company valuation analysis, comparable transaction valuation analysis, and/or discounted cash flow (DCF) models.  Ultimately, the work product needs to produce a conclusion of value and be audit ready relying on accepted standard valuation approaches and with a synthesized and documented valuation conclusion.
• Ability to handle and debate common valuation challenges arising from our private company investments.  For example, this may include any discounts for lack of marketability, and interpreting the impact of preference terms, “ratchet” rights, treatment of stock-based compensation, or other deal specific differentiating features of private company transactions. 

Leadership Activities:

• As a subject matter expert on our valuation process, it is expected that the individual will be able to operate within the framework of the role independently and initiate suggestions or improvements to the process when appropriate.  The role could also include participation in presentations, conferences, or meetings to improve and communicate our private company valuation process.

Qualifications

Required:

• Bachelor's degree or the equivalent combination of education and relevant experience AND
• 8+ year