SVP, Head of Pricing Operations

Employer
PIMCO
Location
Newport Beach, USA
Salary
Competitive
Posted
Sep 09, 2021
Closes
Oct 09, 2021
Ref
12025008
Job Function
Operations
Industry Sector
Finance - General
Employment Type
Full Time
Education
Bachelors
About Us:

We are PIMCO, a leading global asset management firm. We manage investments and develop solutions across the full spectrum of asset classes, strategies and vehicles: fixed income, equities, commodities, asset allocation, ETFs, hedge funds and private equity. PIMCO is one of the largest investment managers, actively managing more than $2.21 trillion in assets for clients around the world. PIMCO has over 3,025 employees in 20 offices globally. PIMCO is recognized as an innovator, industry thought leader and trusted advisor to our clients.

PIMCO is one of the world's premier fixed income investment managers with thousands of professionals around the world united in a single purpose: creating opportunities for our clients in every environment. Since 1971, we have brought innovation and expertise to our partnership with the institutions, financial advisors and millions of individual investors who entrust us with their assets. We aspire to cultivate performance and leadership through empowering our people, diversity of thought, and a commitment to an inclusive culture that engages in our global communities.

Position Description:

We are seeking a Senior Vice President, Head of Pricing Operations, to be based in our Newport Beach, CA office. In this role, you will be primarily responsible for overseeing and maintaining the pricing procedures for all PIMCO's financial investments. As the Head of Pricing Operations, you will collaborate with PIMCO's front office to interpret the financial markets' impact on the pricing quality received from vendors, the administration of Fair Value Process, and define the Global Pricing Group's strategy. You will also define front office-like oversight techniques of daily security valuations.

As a subject matter expert in the financial markets and security valuation models, you will take ownership in implementing enhancements to the valuation oversight process. Ideally, you will bring expertise in the valuation of Mortgage or Corporate Credit asset classes.

In this role, you will consider how pricing and valuations impact front office workflows, such as pre-trade analysis, research, security selection, and best execution. You will bring a unique blend of business and technical savvy, a big-picture vision, and the drive to make that vision a reality.

About You
  • You challenge the status quo by asking "why" and identify new and better ways of doing things
  • You are resourceful, curious, and enjoy problem-solving. Many of the concepts and/or solutions we face are sophisticated, and you bring a desire to work through these complex scenarios
  • A standout teammate who builds positive relationships and collaborates across multiple levels of a globally diverse organization, including external vendors
  • You have excellent interpersonal skills (verbal and written)
  • You have a track record of building credibility and trust through consistent behavior, high integrity, and judgment
  • Intellectual curiosity, a dedication to professional development, and ability to learn, and interest in staying on top of emerging trends
  • Thrives in a fast-paced environment
  • Self-motivated, detail-oriented, takes ownership of work quality and enjoys continuous improvement
  • Proven record of navigating unstructured processes and simultaneously handling responsibilities with multiple, exciting demands
  • Able to balance multiple priorities concurrently and manage business expectations accordingly


Responsibilities
  • Serve as lead for portfolio valuation processes at PIMCO
  • Manage PIMCO Pricing Committee, Sub-Committees, and Valuation Oversight Committees for two fund Boards
  • Manage pricing vendors and other key service providers, including outsourced back-office vendors providing valuation services
  • Collaborate with fund auditors to answer valuation-related questions, which includes the review of all assumptions and inputs used in the preparation of valuation analyses
  • Work closely with sub-advised funds on pricing-related matters
  • Collaborate with all areas of PIMCO, including Portfolio Management, Risk, Development, Account Management, and operational teams
  • Serve as an internal and external evangelist for data operations and other internal front office groups in launching new techniques and products, including gathering requirements, testing, and implementing new and/or revised procedures
  • Oversee and maintain detailed records regarding pricing values for instrument types ranging from global equities, fixed income, real estate, distressed debt, and derivatives
  • Engage with the Risk team to review pricing models, pricing processes and assess potential impacts to portfolios from changes
  • Engage with portfolio management teams to challenge and review fair valuation recommendations
  • Real-time oversight of security valuations, especially in case of the material event impacting securities, portfolio, or the market more broadly
  • Review valuation analyses and model functionality, opinion on evaluation vendors' approaches, and engage/challenge front office for additional inputs
  • Implement enhanced testing of daily vendor pricing valuations and resolve any discrepancies promptly -- monitor, analyze, and challenge vendors where appropriate
  • Validate applicable pricing practices are applied and maintained for daily portfolio valuations
  • Collaborate with Alts Valuation Pricing Operations team to fulfill internal and Board reporting requirements and provide audit support
  • Utilize technology to create efficiencies and improve processes to daily workflow
  • Develop and analyze internal metrics and recommend process improvements
  • Achieve and maintain operational excellence in adherence to internal policy and procedures


Position Requirements:

  • Minimum of a Bachelor's Degree required. A Master's Degree from a premier institution in Accounting, Finance, Mathematics, Statistics, Engineering, Economics, or related field is highly desirable
  • CFA preferred
  • Minimum 7 years of front office experience at an investment manager or bank
  • Prior exposure working with and presenting to Portfolio Managers and Boards required
  • Minimum of 5+ years of management/leadership/supervisory experience
  • Prior experience working in a top-caliber financial services firm, with a strong understanding of Finance and various asset classes, including fixed income and alternatives
  • Proven track record summarizing complex topics for presentation to firm leadership, Fund Boards, sub-advised fund clients, and regulators
  • Confirmed ability to utilize quantitative, statistical, and mathematical financial techniques for independent, fair valuations of securities
  • Market data knowledge from working with providers such as Bloomberg, Thomson Reuters, and Intex, etc.
  • Excel "power user" - SQL, VBA, and programming skills in multiple languages are preferred


Benefits:

PIMCO is committed to offering a comprehensive portfolio of employee benefits designed to support the health and well-being of you and your family. Benefits vary by location but may include:
  • Medical, dental, and vision coverage
  • Life insurance and travel coverage
  • 401(k) (defined contribution) retirement savings, retirement plan, pension contribution from your first day of employment
  • Work/life programs such as flexible work arrangements, parental leave and support, employee assistance plan, commuter benefits, health club discounts, and educational/CFA certification reimbursement programs
  • Community involvement opportunities with The PIMCO Foundation in each PIMCO office

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