Closely Held Business Manager

BNY Mellon Investment Management
Pittsburgh, USA
Jun 21, 2019
Jun 29, 2019
Job Function
Wealth Management
Industry Sector
Finance - General
Employment Type
Full Time
The incumbent is responsible for the process of reviewing and valuing of approximately 300-400 closely-held business interests LLC and limited partnerships held in accounts where the CHBU has management responsibility . Position responsibilities include: managing personnel, who are conducting/completing valuations to a varying degree, reviewing/approving the final draft of the valuations of direct reports, and individually conducting valuations and training on an as needed basis. The annual reviews are performed to comply with the Office of the Comptroller of the Currency Regulation 9 and BNYM Wealth Management's internal procedures. Provide federal estate tax valuation for closely held company stock and limited partnership interests held in estate accounts to provide values for the estate tax return. The incumbent is also responsible for reviewing any changes in the capital structure of closely-held assets and recommending approval or rejection of the capital change. Review purchase offers from outside sources and company tender offers; assist in the sale of closely held stock and limited partnership interests as requested from internal clients. Responsible for the review of assets to determine appropriateness of accepting closely-held assets in new or existing trusts or estates. Participate in the monthly Closely Held Business Interests Committee and submit and support reviews and valuations for approval by Committee Members.The incumbent must understand various methods of business valuation, which require both financial and accounting acumen.The incumbent is required to provide valuation services for a diverse group of assets with varying degrees of complexity associated with the business line, industry, legal entity structure, etc.The incumbent most significantly affects the business by the accuracy and credibility of the asset valuations. Effective communications with front office portfolio managers is instrumental in collecting information, which is necessary to refine the valuation (i.e. both the narrative and financial assumptions.)The communications with front office personnel require technical knowledge, the ability to communicate complex information in a clear and concise manner, and finesse in articulation. The intense and constant interaction with direct reports will require technical knowledge, in addition to patience and persistence. Dialogue would also reach attorneys and CPA's that would be connected to the accounts.


Bachelors, Business, Finance or Accounting. MBA preferred. 3-5 Years, Accounting or Business Valuation Consulting. CFA or CPA preferred.

BNY Mellon is an Equal Employment Opportunity/Affirmative Action Employer.
Minorities/Females/Individuals With Disabilities/Protected Veterans.

Primary Location: United States-Pennsylvania-Pittsburgh
Internal Jobcode: 31490
Job: Wealth Management
Organization: Advice Planning and Fiduciary-HR16024
Requisition Number: 1907914