OMERS Private Equity
OMERS Private Equity has been making private equity investments since 1987 on behalf of OMERS, one of Canada’s largest pension plans with in excess of $60.8 billion of assets. Our team manages over $6.5 billion of private equity investments globally currently and we expect this number to increase significantly in the near future.
Being part of a pension fund has its advantages. It affords the ability to focus on investing in our businesses for long-term value creation rather than near-term earnings. Capital is readily available eliminating the need to fundraise. It also provides the opportunity to leverage the relationships of the other investment entities and resources of OMERS.
Our investment strategy is currently focused on direct investing in North America and Europe. We have enjoyed tremendous success with our direct focus approach which we initiated back in 2008. The changes in investment strategy lead to the opening of new offices in both New York and in London in 2009. There are multiple components to our being successful with our direct investments, including our ability to both originate transactions, and the subsequent building of value with our portfolio management capabilities.
We have an experienced, talented and dedicated team with backgrounds in private equity, operations management, financial analyses and accounting, investment banking, tax and law. We can respond to opportunities, assess challenges and develop solutions, leverage relationships, and, because we are a long-term investor, we know the importance of working with the management teams of our investments and our partners to create sustainable, long-term value.
SCOPE OF POSITION
Manager, Financial Reporting and Valuations will report to the Controller and will be responsible to lead activities that support the financial reporting and valuation of OMERS Private Equity investments. This position’s primary responsibilities are to manage all aspects of financial reporting and valuation analysis for the private equity portfolio of assets. In addition, the incumbent shall maintain appropriate internal controls in support of enhanced and accurate financial reporting.
RESPONSIBILITIES
Financial Reporting:
- Prepare/Review, maintain and update budget investment models and assist with forecasting and budgeting of investment returns.
- Ensure investments are properly accounted for in accordance with all applicable agreements, including tax structuring plans.
- Review/Prepare general ledger and financial statements including reconciliations, journal entry review/preparation, both consolidated and legal entity.
- Prepare monthly, quarterly and annual reports for internal and external reporting.
- Assist in internal and external audits, as required.
- Assist as needed with complex accounting areas such as foreign exchange translation, purchase price allocations and hedging relationships.
- Review the reporting structure setup and initial journal entries for acquisition of new investments.
- Liaise closely with the other team members with respect to the sharing of financial information for internal/external reporting and tax filings.
- Liaise closely with Corporate Secretariat to ensure records are complete and accurate.
- Monitor existing procedures and processes to ensure adequate controls are in place and recommend revisions as required.
- Adapt processes for efficiency and scale as OPE’s assets under management increases.
Valuations:
- Assist with the annual valuation process of our direct investments, including providing problem solving, troubleshooting of issues and consulting support for valuation processes and systems.
- To confirm OPE’s ownership value, review/prepare capital structure tables, and ensure all changes to the capital structure are appropriately monitored (including equity issuances, redemptions, option grants and vesting)
- Participate in the coordination of activities with external appraisers and auditors.
- Attend and participate in quarterly portfolio management review meetings.
- Provide assistance to the transaction team and/or investment entities when required.
- Develop forecast models to help OPE monitor its assets under management.
- Conduct research and benchmarking studies.
- Provide valuation support on investment assets that are subject to internal restructuring.
QUALIFICATIONS
- Accounting designation – CA preferred with 3-5 years of post designation experience.
- CBV or working towards the CBV designation.
- Experience with Investran a plus.
- Strong team player.
- Demonstrated analytical, problem solving and financial modeling skills.
- Ability to communicate clearly, concisely and accurately (both verbal and written).
- Proven ability to “get things done” under pressure with a “can do” attitude.
- Ability to change direction in response to unexpected events or circumstances.
- Ability to work with management at all levels.
- Foster an environment that supports continuous improvement, by being knowledgeable on best accounting and control practices and communicating areas for improvement.
- Excellent two way communication skills – able to actively listen for understanding and to articulate in a clear and concise manner.
- Ability to work in a team environment and interact well with all members of the team, building good morale and co-operation amongst the group.
- Act as a strong performance manager by developing clear goals for employees, providing on-going feedback on performance, and recognizing and rewarding successful performance.
To apply for this position, please visit our careers section on www.omers.com to setup a profile and submit your resume and cover letter.