Risk Management, Associate

About TPG

TPG is a leading global alternative asset management firm, founded in San Francisco in 1992, with investment and operational teams around the world. TPG invests across a broadly diversified set of strategies, including private equity, impact, credit, real estate, and market solutions, and our unique strategy is driven by collaboration, innovation, and inclusion. Our teams combine deep product and sector experience with broad capabilities and expertise to develop differentiated insights and add value for our fund investors, portfolio companies, management teams, and communities.

TPG’s success depends on our people, and we build and sustain our world-class team by creating an inclusive, supportive culture within the firm that seeks excellence and encourages humility and transparency. The quality of our investments and our ability to build great companies depend on the originality of our insights. Reaching our firm’s full potential means supporting every team member to bring the fullness of their unique perspective to their work and to our community. We are committed to a diverse, equitable, and inclusive workplace to foster diversity of thought and reflect the breadth of our limited partners and portfolio companies.

Description of Position / Key Responsibilities

Angelo, Gordon & Co., L.P. seeks an Associate in New York, NY to:

• Support valuation process for a wide array of investments held within the Firm’s portfolios.
• Assist in the administration of the firm-wide pricing policy.
• Coordinate and monitor the process by which the Firm selects and engages external service providers to provide independent valuation services, including reviewing and documenting all policy exceptions.
• Assist with the daily and monthly valuation process by working with investment teams, fund accounting teams and third-party administrators.
• Monitor performance of external pricing sources, including instituting and tracking price challenges with pricing vendors and dealers as necessary.
• Handle outsourced valuation services, including data collection across investment teams.
• Support the year-end financial statement audit and address follow up questions or inquiries as they relate to portfolio valuations.
• Compile documentation to support valuation methodology and underlying model assumptions.
• Develop programs that automate reconciliation processes, summarize data changes and streamlining processes.

Experience and Professional Qualifications

• Master’s degree in Finance, or related field or equivalent;
• Three (3) years of experience researching financial performance of private and public companies using Reuters, Markit, Intercontinental Exchange, JPM Pricing Direct, Bloomberg, and TreppWire;
• Three (3) years of experience sourcing, cleansing, and analyzing market data to validate valuation inputs including volatility, interest rates, discount rates, and credit spreads;
• Three (3) years of experience pricing complex financial instruments, including derivatives (swaps, options, and structured products), fixed income, and equities using modeling templates;
• Three (3) years of experience configuring and analyzing Bloomberg models for swap valuations and Black Scholes/Discounted Cash Flow based on relevant investment types;
• Three (3) years of experience performing independent price testing by comparing internal models against brokers and market data vendors and reconciling discrepancies;
• Three (3) years of experience applying ASC 820 to ensure accurate valuation impacts on financial statements and regulatory reporting;
• Three (3) years of experience assessing model assumptions, identifying potential model risk, and working with risk teams to validate pricing methodologies;
• Three (3) years of experience conducting what-if analyses on pricing models to assess the impact of changes in interest rates, volatility, credit spreads, liquidity conditions and alternate vendor pricing;
• Three (3) years of experience preparing detailed technical documentation on pricing methodologies, model assumptions, and input sources to support internal audits and regulatory reviews.
• Telecommuting and/or working from home may be permissible pursuant to company policies.

It is expected that the annual base salary for this role will range from $126,000.00 - $130,000.00. Base salary is one component of TPG’s competitive total rewards package which typically includes discretionary compensation, comprehensive health benefits, and paid time off. Other incentives may also be available to certain eligible employees.

Apply here to this posting or send your resume and application materials to [email protected] with the number “412” in the subject line.