What are the responsibilities and job description for the Vice President, Evergreen Valuations position at HarbourVest Partners?
Job Description Summary
For over forty years, HarbourVest has been home to a committed team of professionals with an entrepreneurial spirit and a desire to deliver impactful solutions to our clients and investing partners. As our global firm grows, we continue to add individuals who seek a collaborative, open-door culture that values diversity and innovative thinking.
In our collegial environment that’s marked by low turnover and high energy, you’ll be inspired to grow and thrive. Here, you will be encouraged to build on your strengths and acquire new skills and experiences.
We are committed to fostering an environment of inclusion that promotes mutual respect among all employees. Understanding and valuing these differences optimizes the potential of both the individual and the firm.
HarbourVest is an equal opportunity employer.
This position will be a hybrid work arrangement, which translates to 2-3 days minimum per week in the office.
HarbourVest Partners (HVP) is seeking a Vice President, Evergreen Valuations to lead an experienced team supporting Private Equity investment valuations for semi-liquid HVP Regulated and/or Registered Funds. Responsibilities for this function include ownership of periodic (i.e.monthly, quarterly) fair valuation policies and practices, onboarding and partnering with third-party valuation service providers, leading the Evergreen Valuation Committee and Fund Board reporting and engagement with external auditors and fund services teams. This role will report into the SVP, Head of Valuations.
The ideal candidate should 10 years of experience with illiquid and alternative asset expertise. Strong understanding of fair value accounting under Investment Company Guide, specifically as it applies to level 3 assets.
The ideal candidate is someone who is:
- Strong understanding of various valuation approaches, i.e DCF method, market approach.
- Ability to review and analyze complex financial models and assessing risk.
- Key areas of expertise:
- Experience with valuation requirements for registered investment companies, specifically as it applies to Rule 2a-5
- Strong technical GAAP/IFRS understanding of accounting standards to properly apply financial reporting principles to the valuation process Investment Company accounting background, experience in valuation of privately held alternative assets including co-investments, partnership investments and credit.
- Key skills: Strong accounting, analytical and problem-solving skills. Must be detailed oriented and solid communication skills. Computer literacy and proficient knowledge of Excel. Ability to multitask is essential.
- Key skills: experience in managing third party service providers including valuation agents and fund administrators.
- Organized and effective in independently driving initiatives, with the willingness and capability to assume responsibility and ownership of outcomes
- Focused on having a significant impact on the business, while considering short- and long-term opportunities and risks
What you will do:
The VP, Evergreen Valuations will report into the SVP, Head of Valuations
Periodic Valuations:
Review of period end portfolio NAV, SEC financial reporting, and portfolio level accounting of Fund’s with understanding of the underlying investments.
- Coordinate and review valuations prepared by third party valuation agent.
- Partner with Evergreen fund reporting team to assess and review independent fair value inputs and its impact monthly portfolio valuations into Funds’ NAV.
- Lead communications with HarbourVest Evergreen Valuation Committee including preparation of BOD presentations and analysis.
- Create required internal and regulatory reporting requirements (i.e. 2a-5)
Portfolio valuation management:
- Oversight of existing third-party vendors.
- Develop a long-term evergreen valuation strategy.
- Lead the development of internal systems to ensure that evergreen valuations are integrated with other investment strategies.
- Create a team to assist with these functions.
- Conduct technical accounting research and ensure appropriate application to Fund and underlying investments.
- Create and maintain SEC reporting disclosure checklist/reporting calendar to ensure timely compliance
Education Preferred
- Bachelor’s and Master degree with major in accounting and/or Finance, CPA or CFA preferred.
Experience
- Public and/or private prior experience, open-end fund experience preferred.
- Comprehensive knowledge of US GAAP
- Fair Value reporting experience including working knowledge of valuation modeling
- Oversee and coordinate back testing process
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