Valuations Manager

Team: Operations

Location: London, UK

Employment Type: Permanent

Salary: Competitive

Closing Date: 27 August 2020

Valuations Manager

 

Our Mission 

  • CDC is the UK’s development finance institution. Founded 70 years ago, we invest in the most challenging markets of Africa and South Asia with the aim of supporting economic development. CDC has net assets of £5.1bn, with over 1300 growing businesses in the portfolio.
  • Last year we committed over £1billion of capital across 50 transactions. 
  • CDC is wholly owned by the UK government, who has committed a further £3.5bn of capital for CDC to deploy over the next two to three years.
  • We are expanding our presence in Africa and South Asia with further new offices openings in 2020.
  • At CDC, we take an entrepreneurial approach to investment. We think innovatively about ways to deploy our capital, attract and mobilise other investors, and drive transformational impact.
  • Primarily, CDC invests to achieve impact and a financial return which is reinvested into more businesses. We aim to create jobs and accelerate economic prosperity and focus on sectors that will do this; manufacturing, food and agriculture, infrastructure, financial institutions, construction, health and education.
  • CDC works with like-minded ambitious people who are primarily motivated by our mission to deliver impact. We are a growing team of over 400 and place immense value on diversity within our organisation.
  • Read more about us on our website cdcgroup.com

 

Team and role overview

  • The Finance team is responsible for the accounting, financial reporting, financial planning and analysis, investment accounting, purchasing and procurement, accounts payable and accounts receivable functions. The team consists of 12 people, including the CFO, and is forecast to grow significantly in 2020 to support the growth of the Company.

 

The Role

Purpose

CDC continues to grow its direct equity and debt investment portfolios in addition to its private equity fund portfolio. CDC’s policy is to measure all investments at fair value in accordance with IPEV guidelines. The equity portfolio is valued just over $2bn spread across over approximately 60 investments and debt investments are just over $1bn and almost 70 investments. Investments are increasingly being made with larger ticket sizes and more complexity and there is a need for dedicated independent specialist valuation expertise in-house. Valuations are currently calculated by the investment monitoring teams and reviewed by the Finance team on a quarterly basis.

This is a new role for an experienced valuations manager to establish and lead a valuations team.

 

Responsibilities

  • Review and update CDC’s valuation policy and processes to meet best practice, ensuring there is consistency and independence in the overall approach for each of the equity, debt and fund portfolios.
  • Develop a new framework for the presentation of valuations for internal review.
  • Develop CDC best practice guides to assist valuation preparers in areas such as the build-up of DCF models, discount rates (equity and debt), comp sets and how to adjust them, valuing early-stage companies.
  • Develop back-testing processes on equity and fund exits to highlight any potential deficiencies in valuation practices.
  • Maintain CDC’s valuation guidelines including, where possible, working examples relevant to CDC’s portfolio and keeping up to date with revisions to IPEV guidelines.
  • Identify the role an independent valuations team can play in the acquisition process.

 

The Candidate

Background, skills, aptitude

  • Experience of detailed valuations preparation across multiple methodologies
  • Extensive private equity market knowledge, preferably in emerging markets
  • Understanding of market trends and value drivers
  • Good communication skills including report writing and presentation skills
  • Excellent interpersonal skills, able to deal with stakeholders at all levels in a confident manner

 

CDC’s Values

We look for colleagues who are

  • Impact-led and commercially rigorous
  • Tenacious in the face of challenges
  • Collaborative and caring

 

CDC is committed to diversity and inclusion and welcomes all applicants regardless of gender, age, educational background, national origin, ethnic origin, disability, sexual orientation and religion.

 

Please include a cover letter with your application 

Role opened: 28 July 2020

Role closes: 27 August 2020

Salary: Competitive 

Apply now