Senior Valuations Analyst, Valuation Oversight Team

Northern Trust; Chicago (IL); Hybrid; USD 89,000 - 151,000; Full time

Benefits offered by this job

Retirement benefits

Health benefits and welfare

Paid time off

Parental leave

Discretionary bonus

Job summary

Northern Trust Asset Management (NTAM) seeks a seasoned valuation professional to lead oversight of fair value measurement, model governance, and pricing governance across complex and illiquid investments. You will contribute to committee reporting, enhance automation, and ensure regulatory compliance while partnering with stakeholders across risk, compliance, and investment teams.

The role emphasizes building scalable valuation processes, performing independent reviews of third-party models,

Qualifications

• Strong understanding of valuation principles and methodologies including Income, Market and Asset Approaches.
• Knowledge of ASC 820 fair value concepts and valuation governance practices.
• Experience valuing complex and illiquid securities with professional judgment.

Responsibilities

• Perform day-to-day valuation oversight for fair value determinations and related reporting.
• Develop and maintain internal valuation models for complex securities.
• Review third-party valuation models and challenging assumptions for reasonableness.
• Support PVC through analyses, governance materials and committee reporting.
• Ensure governance of fair value methodologies and model validation.
• Collaborate with Compliance, Risk, Fund Administration and Investment Teams on valuation matters.
• Assist in audits and regulatory inquiries related to valuation governance.

Skills

Valuation expertise

Financial analysis

Communication skills

Problem solving

Cross-functional collaboration

Education

Bachelor's degree in Finance/Accounting/Economics

MBA / CFA / CVA preferred

Tools

Bloomberg

Capital IQ

Job description

About Northern Trust

As a global leader in innovative wealth management, asset servicing, asset management and banking services, Northern Trust (Nasdaq: NTRS) is proud to guide the world’s most successful individuals, families, corporations and institutions. Since 1889, we have aligned our efforts with our three guiding Principles That Endure: Service, Expertise, and Integrity. Together, they reflect the three cornerstones of business conduct which we strive to instill in our employees, whom we call partners, and to provide to our clients and the communities we serve worldwide. With more than 135 years of financial experience and over 24,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.

ROLE SUMMARY

Northern Trust Asset Management (NTAM) is a trillion-dollar investment management firm entrusted by investors around the globe to help them navigate changing market environments so they can confidently realize their long-term objectives. The Pricing and Valuation function is responsible for valuation oversight, fair value governance, pricing controls, valuation methodologies, regulatory reporting, and associated activities across NTAM's clients, accounts, and funds. This role will report to the Global Head of Valuations and play a key role in supporting NTAM's valuation framework through the oversight of valuation methodologies and models, review of complex and illiquid securities, and support of valuation governance processes, including committee reporting and pricing oversight activities. The role combines valuation analysis and model oversight with governance, committee support, pricing oversight, and valuation process improvement activities. The successful candidate will contribute to the continued evolution of a world-class Pricing and Valuation organization by identifying, developing, and championing initiatives that enhance valuation capabilities, strengthen governance and controls, improve automation and reporting, and support compliance with evolving regulatory and accounting requirements.

PRIMARY DUTIES AND RESPONSIBILITIES

• Perform day-to-day valuation oversight activities related to fair valuation, ASC 820/FAS 157 leveling determinations, valuation methodology reviews, and associated reporting processes.
• Develop, maintain, enhance, and document internal valuation models used to support the fair valuation of complex and illiquid securities.
• Perform independent reviews and challenge assessments of third-party valuation models, methodologies, assumptions, and outputs to ensure valuations are reasonable, supportable, and consistent with industry practices.
• Research and analyze complex valuation matters including private investments, contingent value rights (CVRs), escrow positions, proxy securities, delisted securities, suspended securities, and other hard-to-value investments requiring fair value determinations.
• Support the Pricing and Valuation Committee (PVC) through preparation of analyses, valuation recommendations, governance materials, methodology approvals, and periodic committee reporting.
• Ensure governance and oversight of fair value pricing methodologies and valuation models, including periodic reviews, validation, documentation, and performance monitoring.
• Review pricing exceptions, valuation overrides, and other valuation-related control reports to identify and elevate matters requiring further analysis or governance review.
• Collaborate with Compliance, Risk, Fund Administration, Investment Teams, and other stakeholders to address valuation matters and advance NTAM's valuation and reporting capabilities.
• Support oversight of third-party pricing vendors and valuation service providers, including periodic due diligence reviews and assessments of pricing methodologies, controls, and service quality.
• Contribute to process improvement, automation, and reporting initiatives designed to enhance scalability, transparency, and operational effectiveness across the Pricing and Valuation function.
• Support internal and external audit requests, regulatory inquiries, and valuation governance reviews.
• Assist in maintaining valuation policies, procedures, methodologies, and supporting documentation to ensure compliance with regulatory and governance requirements.
• Train and mentor junior analysts on valuation techniques, modeling approaches, fair value methodologies, and valuation governance practices.
• Monitor key risk indicators and operational metrics to evaluate the effectiveness of valuation oversight processes and identify opportunities for continuous improvement.

NECESSARY KNOWLEDGE AND SKILLS

• Strong understanding of valuation principles and methodologies, including the Income Approach, Market Approach, and Asset Approach, with experience applying discounted cash flow analyses, market multiple methodologies, and asset-based valuation techniques.
• Knowledge of ASC 820 fair value measurement concepts, valuation governance practices, and valuation methodologies across public and private market investments.
• Experience analyzing complex and illiquid securities where observable market data may be limited, requiring the application of professional judgment and alternative valuation techniques.
• Strong analytical and problem-solving skills with the ability to synthesize incomplete or imperfect information, identify key valuation drivers, and develop well-supported conclusions.
• Experience reviewing and challenging third-party valuation reports, assumptions, methodologies, and outputs for reasonableness and supportability.
• Understanding of the investment management industry, multiple asset classes, pricing and valuation techniques, and investment technology platforms utilized within an asset management environment.
• Experience utilizing valuation, market data, and analytical platforms.
• Proficiency with Bloomberg and Capital IQ is strongly preferred.
• Excellent written and verbal communication skills, including the ability to clearly communicate complex valuation methodologies, assumptions, and conclusions to both technical and non-technical audiences.
• Experience preparing materials and presenting analyses to governance committees, senior management, and other stakeholders, with the ability to effectively defend valuation conclusions and recommendations.
• Strong relationship-building and collaboration skills, with experience partnering across investment teams, risk, compliance, fund administration, and other stakeholder groups.
• Experience identifying process improvement opportunities and implementing enhancements to increase efficiency, scalability, transparency, and control effectiveness.
• Strong organizational skills, attention to detail, sound judgment, and the ability to manage multiple priorities in a dynamic environment.

NECESSARY EXPERIENCE AND EDUCATION

• Bachelor's degree in Finance, Accounting, Economics, Business, or a related field required; Master of Business Administration (MBA), Chartered Financial Analyst (CFA), or Certified Valuation Analyst (CVA) designation preferred.
• 3-7 years of relevant experience in valuation, pricing oversight, investment management, audit, or valuation advisory functions at a mid-to-large investment manager, public accounting firm, or valuation consulting firm.
• Familiarity with developing, maintaining, or reviewing valuation models utilizing the Income, Market, and Asset Approaches.
• Experience valuing complex, illiquid, or hard-to-price securities and investments is strongly preferred.
• Proficiency with investment, valuation, pricing, reporting, and analytical platforms and databases; experience with Bloomberg and Capital IQ is strongly preferred.
• Advanced Excel modeling and analytical skills, including the ability to analyze financial statements, market data, and valuation assumptions.
• Experience supporting valuation committees, governance processes, audits, or regulatory reviews is preferred.

WORKING MODEL: HYBRID

We have a balanced hybrid working model to ensure you get the flexibility you need, and the successful candidate will spend their time between working in the office and working from home.

Salary Range

$88,900 - 151,100 USD Salary range is a good faith estimate of base pay.

Benefits

• Northern Trust provides a comprehensive benefits package including retirement benefits (401k and pension), health and welfare benefits (medical, dental, vision, spending accounts and disability), paid time off, parental and caregiver leave, life & accident insurance, and other voluntary and well-being benefits.
• Northern Trust also provides a discretionary bonus program that may include an equity component.

Work Authorization

Applicants must be authorized to work in the U.S. without the need for employment-based visa sponsorship now or in the future. Northern Trust will not sponsor applicants for U.S. work visa status for this opportunity (no sponsorship is available for H-1B, L-1, TN, O-1, E-3, H-1B1, F-1, J-1, OPT, CPT or any other employment-based visa).

Working with Us

As a Northern Trust partner, you will be part of a flexible and collaborative work culture, which has a strong history of financial strength and stability. Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to an inclusive workplace and assisting the communities we serve. Philanthropy is deeply rooted in Northern Trust’s history and is an essential element of our culture. Employees around the world give their time and talent to work for the greater good of their communities.

Reasonable Accommodation

Northern Trust is committed to working with and providing adjustments to individuals with health conditions and disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at [e-mail], or alternatively you can discuss your individual requirements with the recruiter you are working with.

Terms and Conditions

Candidate Privacy Notice California Applicant Privacy Notice Pay Transparency Nondiscrimination Provision (U.S) Transparency in Coverage Disclosure – North America Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If, because of a medical condition or disability, you need a reasonable accommodation for any part of the employment process, please email our HR Service Center or call 1-800-807-0302 (North America), [phone] (Asia Pacific), 1800-425-0333 (India), [phone] (Europe, Middle East and Africa) and let us know the nature of your request and your contact information.

APAC/INDIA EEO STATEMENT

It is the policy and practice of Northern Trust to provide equal employment opportunities to all employees and applicants. Northern Trust does not discriminate on the basis of race, colour, religion or belief, nationality, ethnic or national origin, sex, marital status, sexual orientation, disability or age. All employment decisions will be made in a non-discriminatory manner in accordance with our obligations under the law and codes of practice. This includes human resources’ decisions relating to recruitment, terms and conditions of employment, transfers, promotions and access to learning and development.

Canada EEO STATEMENT

Northern Trust is an Equal Opportunity Employer. Hiring and other employment decisions at Northern Trust are made without regard to race, colour, religion, sex, ancestry, national origin, ethnic origin, age, disability, citizenship, veteran status, sexual orientation, record of offences, marital status, family status, or any other characteristic protected under federal, provincial, or local law, regulation, or ordinance. This includes human resources’ decisions relating to recruitment, terms and conditions of employment, transfers, promotions and access to learning and development.

EMEA EEO STATEMENT

It is the policy and practice of Northern Trust to provide equal employment opportunities to all employees and applicants. Northern Trust does not discriminate on the basis of race, colour, religion or belief, nationality, ethnic or national origin, sex, marital status, sexual orientation, disability or age. All employment decisions will be made in a non-discriminatory manner in accordance with our obligations under the law and codes of practice. This includes human resources’ decisions relating to recruitment, terms and conditions of employment, transfers, promotions and access to learning and development.

USA EEO STATEMENT

It is the policy of The Northern Trust Company to afford equal opportunity in all phases of employment without regard to an individual's age, race, color, religion, creed, gender, national origin, citizenship status, marital status, pregnancy, sexual orientation, gender identity, gender expression, genetic tests and information, physical or mental disability, protected veteran status or any other legally protected status. EEO Know Your Rights (U.S)