Head of Finance Valuations & Investment Control

When you join USS, the size and scale of our pension scheme means you will have numerous opportunities to learn and develop your career. Given our size you'll have real autonomy and influence as you collaborate closely with a wide-ranging team of experts. Our office is a vibrant place to work, and we offer flexibility of office/homeworking due to our hybrid model.

About the role

In your role as Head of Finance Valuations & Investment Control you will make a meaningful and valued contribution from the outset. This role will provide a great opportunity to lead the Finance Valuations and Control function for the Investment Segment, with accountability for delivering robust, accurate and well-governed asset valuations and financial control of the scheme’s private investments. The role provides strategic leadership to the team, building capability and ensuring a high-performing function that supports effective decision-making, regulatory compliance and external reporting. As a member of the Finance Leadership Team, it contributes to the broader leadership, strategy and continuous improvement of Finance.

What you will be doing

• Direct, provide and oversee the required investment valuations capability that ensures materially accurate and defendable valuations to all stakeholders and other interested parties.
• Lead the Fair Value Committee (FVC) process end-to-end including reviews of assets and associated valuations, preparation of valuation reports including review with various parties across USS.
• Provide subject matter expertise and contribute to key FVC discussions and decisions with constructive challenge and support to senior management, ensuring decisions are made in full knowledge of the facts.
• Manage the valuations conducted by the internal Finance Valuations team and review and challenge the valuations of the external valuation advisors, with a primary focus on the performance of quarterly (and occasional ad hoc) valuations of illiquid fixed income and equity asset investments.
• Oversight and performance of periodical deep dives into asset valuations.
• Responsible for the USS valuation policy and framework covering both public and private markets and provide input, guidance and challenge to all valuation related matters across USS.
• Provide strategic oversight and leadership on the valuation and control implications of new scheme products and structures, ensuring that they are fully reviewed with matrix support from Group Finance functions (particularly Tax and Financial Control) to ensure that they can be introduced and maintained in an efficient and well-controlled manner, providing deal advice and focusing on value-add services.
• Drive collaboration with Financial Control, Risk and Operations functions, the development of an efficient and well-controlled scheme accounting infrastructure enabling control and analysis of scheme asset value/performance to underpin external reporting accuracy.
• Responsible for preparation of defined contribution (DC) reporting, input to regulatory statements, swing pricing calculations and updates to associated DC committees.
• Oversight of risk reporting in relation to asset valuations and investment controls.
• Reviewing scope, structure, internal modelling capability, systems and frequency of valuations, implementing enhancements as required.
• Oversee and manage external valuer relationships across illiquid and property assets. Work with procurement lead on contract renegotiations / RFPs and support forecasting activities with the Head of Investment FP&A and Finance Business Partnering.
• Responsible for the Finance Valuation and Control teams including appropriate structure, team size, skill set and staff development and training.
• Represent Finance Valuations and Control at senior committees as required including, but not limited to, Group Audit and Risk Committee, USSIM Audit, Risk and Compliance Committee and the DC Product Governance Committee.
• Work with internal and external stakeholders, including auditors on all matters relating to valuations and investment controls.
• Execute additional tasks to meet department related projects.

Leadership and People Management

• Provide clear leadership and direction to the Finance Valuations and Control teams, setting priorities aligned to strategic objectives.
• Build and lead a high-performing team, ensuring the right structure, capability, and resourcing to meet current and future demands.
• Develop team capability through coaching, mentoring and effective performance management.
• Foster a culture of accountability, collaboration and continuous improvement.
• Lead through change, driving improvements to processes, systems and ways of working.
• Contribute as an active member of the Finance Leadership Team, shaping functional strategy, driving performance and supporting wider Finance and organisational priorities.

About you

• Professionally Qualified Accountant (ACA, ACCA, CIMA or equivalent), or other relevant financial qualification with significant exposure to investment appraisal techniques (e.g. CFA).
• Excellent track record of managing investment valuations of private equity and credit assets.
• Experienced in financial control, design and implementation of accounting and control structures for structured/ private market product.
• Strong interpersonal, communication and relationship building skills.
• Experience of influencing at Executive level, with the ability to introduce new ways of thinking and enable change, and working with external clients.
• Ability to manage a team, developing and coaching others in a constructive and positive way.
• Excellent level of Excel & financial modelling skills, working with integrated forecast models for large businesses.
• Prior experience or exposure to the valuations of complex securities and/ or property valuation techniques is desirable but not essential for the role.

Why join us?

How we will reward you:

• Great starting salary.
• Generous annual leave package.
• Access to a high quality pension scheme provided through Universities Superannuation Scheme.
• Supportive people policies (including enhanced occupational sickness pay and family friendly pay).
• Financial contributions towards your personal development to help you maintain your physical and mental wellbeing.
• Access to a range of health and wellbeing services i.e., private healthcare, discounted gym membership.
• Learning and development opportunities to develop your skills, knowledge and talent.
• Employee Volunteer Day’s to support the communities where you work and live.
• Cycle to Work Scheme.

Our culture

Our people are what makes us different. We work together to create a diverse and inclusive culture that embraces individuality, where people are welcomed and feel comfortable in the knowledge that they can be themselves. We are active members of:

• Social Mobility Pledge.
• Menopause Workplace Pledge.
• Actively support Women in Tech.
• Annual Intern programme supporting individuals to gain work experience.

About us

Universities Superannuation Scheme (USS) was established in 1974 as the principal pension scheme for universities and higher education institutions in the UK. We work with around 330 employers to help build a secure financial future for more than 500,000 members and their families. We are one of the largest pension schemes in the UK, with total assets of around £90.8bn (at 31 March 2022).

USSL is proud to be an equal opportunity employer. We strive to ensure our recruitment process is as flexible and inclusive as possible so we can attract diverse candidates and recruit the best talent. We want all candidates to perform at their best during the recruitment process, so if you need any reasonable adjustments or if there is anything we can do to help support you through your recruitment journey please let us know by contacting resourcing@uss.co.uk.