Senior Manager Valuation

Engelwood Asset Management S.
A. is activein fund structuring, asset management and asset services. The company was founded in July 2001 and was renamed Engelwood Asset Management S.
A. in July 2019. Engelwood Asset Management S.
A. is a CSSF regulated third party AIFM (European Alternative Investment Fund Manager) in Luxembourg. Due to the increase in current and future business, we are currently looking for a Senior Manager Valuation to join our company. Reporting line: Reports to the member of Senior Management in charge of Valuation.

Key responsibilities
• Lead and supervise the in-house valuation team; perform the second-level review of all valuations (real estate, private debt and loans, target funds, listed assets and OTC derivatives) before submission to the Valuation Committee.
• Apply EAM’s Valuation Policy, valuation procedures and fund documentation. Market standards (IPEV, INREV/RICS, IFRS 13 fair value principles) are used within, and subordinate to, the Valuation Policy and fund documents.
• Critically challenge external valuers and real estate appraisers (scope of mandate, assumptions, comparables, discount and capitalisation rates) and document the challenge and its outcome.
• Act as voting member of the Valuation Committee: prepare its files, minutes and the follow-up of its decisions; act as deputy chair when designated.
• Run the valuation controls: back-testing against realised prices, price variance and stale price monitoring, valuation frequency in line with fund documents, escalation of valuation issues and pricing breaks.
• Coordinate with central administration (NAV production), Risk Management and depositaries on valuation-related matters.
• Prepare valuation-related documentation for the Board of Directors, Senior Management, auditors and depositaries, for review and sign-off by the member of Senior Management in charge of Valuation.
• Contribute to the relationship with auditors and independent valuers on valuation matters.
• Propose updates to the Valuation Policy and procedures, including for loan origination funds, and monitor regulatory developments (AIFMD as amended by Directive (EU) 2024/927, Delegated Regulation (EU) 231/2013, ESMA guidance, CSSF publications). Independence and conflicts of interest:
• The role is functionally independent from portfolio management, business development and the investment decision-makers of the AIFs.
• The role holder’s remuneration is not linked to the valuations performed or to the performance of the AIFs valued.
• Information requests from investors, portfolio managers or counterparties on valuations are handled in coordination with the member of Senior Management in charge of Valuation; no commitment on valuation outcomes is given to them.
• Any pressure on valuation outcomes is escalated to the member of Senior Management in charge of Valuation and, where needed, to the Board of Directors. Candidate profile:
• Minimum 8 to 10 years of relevant professional experience in the valuation of illiquid assets (real estate, private debt or loans, private equity or fund investments), within an AIFM, a management company, an audit or advisory valuation practice, or equivalent.
• Proven team management experience and direct exposure to governance bodies (boards, committees), auditors and/or regulators.
• Sound knowledge of the AIFMD valuation framework (Level 1 and Level 2), ESMA guidance, the CSSF framework applicable to AIFMs and the RAIF regime.
• Master’s degree in finance, accounting or a related field; a professional qualification (CFA, CAIA, RICS, chartered accountant or equivalent) is an advantage.
• Fluent in English and French.
• Based in Luxembourg or able to work on site in Luxembourg on a regular basis.
• Rigour, independence of judgement and ability to challenge senior stakeholders, portfolio managers and external valuers. The salary package offered will be commensurate with your professional expertise and experience. In line with our pay transparency commitments, shortlisted candidates will be informed of the salary range for the position prior to their first interview. This position is available immediately. This is a unique and potentially career-defining opportunity for the candidate with the right spirit and experience. If you are interested in taking this challenging opportunity, please send your application (cover letter, CV, supporting references). Please note that only shortlisted candidates will be contacted by our HR team. If you have not received a response within three weeks of submitting your application, please consider that your application has not been retained on this occasion. In compliance with the law of 23rd July 2016, the selected candidate will be requested to provide a criminal record (section 3). We are an equal opportunity employer, who believes that diversity is good for our people and our business. As such, we welcome applications from candidates without regard to their gender, age, racial or ethnic origin, religion or beliefs, sexual orientation/ identity or disability.