Associate - Valuation Oversight

About AQR Capital Management

About AQR Capital Management

AQR is a global investment firm built at the intersection of financial theory and practical application. We strive to deliver concrete, long-term results by looking past market noise to identify and isolate the factors that matter most, and by developing ideas that stand up to rigorous testing. By putting theory into practice, we have become a leader in alternative strategies and an innovator in traditional portfolio management since 1998.

At AQR, our employees share a common spirit of academic excellence, intellectual honesty and an unwavering commitment to seeking the truth. We re determined to know what makes financial markets tick - and we ll ask every question and challenge every assumption. We recognize and respect the power of collaboration, and believe transparency and openness to new ideas leads to innovation.

The Operations team is responsible for supporting the various trading, investment and reporting activities of the firm. Trading operations, portfolio operations, asset servicing, client administration and project management are the departments which fall under the operations umbrella. The core mission of the group is to establish scalable investment workflows, ensure a controlled operating environment and deliver high quality client service to both internal and external business relationships.

In addition to supporting primary investment related activities, the groups assist in the design and implementation of firm wide projects, operational due diligence, counterpart management and client related activities.

This role works in the AQR Security Valuation group which supports the firm s valuation oversight function across AQR s U.S. mutual funds, UCITS, private funds, and separate account structures. The group has end-to-end responsibility for the valuation framework, including governance, methodology oversight, escalation, and the overall control environment. The role is accountable for ensuring valuations are well governed, timely, accurate, and aligned with applicable regulatory requirements, while exercising independent judgment, providing effective challenge, and driving strong accountability across the function.

This individual will help shape the future state of the valuation operating model as the platform grows in scale and complexity, while partnering closely with adjacent functions including fund treasury, risk, compliance, operations, portfolio management, legal, and third-party administrators.

The candidate is expected to:

• Execute the valuation function end-to-end, including valuation committee materials and support of fair value determinations through established governance processes.
• Define and execute the valuation strategy and operating model, driving process enhancements, control improvements, and scalability across asset classes and investment vehicles.
• Oversee and actively engage in daily and periodic valuation activities, including evaluating complex and less liquid positions, challenging third-party pricing, and analyzing pricing exceptions and valuation issues, and supporting escalation through established governance processes.
• Apply independent technical judgment to evaluate valuation methodologies, assumptions, and inputs (including models and unobservable inputs), and support well-reasoned valuation conclusions.
• Ensure compliance with applicable regulatory requirements (including SEC Rule 2a-5 and UCITS), maintaining a robust control and documentation framework.
• Oversee pricing vendors and third-party service providers, including due diligence, methodology review, ongoing monitoring, and accountability for quality, transparency, and performance, as well as oversight of price challenge and escalation processes.
• Identify valuation risks and process gaps, and proactively implement enhancements to strengthen controls, efficiency, and overall effectiveness.
• work with auditors on valuation matters, including supporting audits and facilitating detailed review of methodologies, assumptions, and controls.
• Design, review, and oversee complex valuation models, ensuring alignment with industry practices and regulatory expectations.

The successful candidate will possess strong analytical and problem-solving skills, sound judgment, and the ability to operate effectively in a fast-paced, complex environment. The ideal candidate will also demonstrate:

• Deep technical expertise in valuation methodologies, including the ability to evaluate and challenge models, assumptions, and pricing inputs (including unobservable inputs)
• Strong understanding in corporate actions and the impact on daily valuation process (Right offerings, spin-offs, mergers, spacs, acquisitions etc.)
• Strong knowledge of derivatives and the attributes needed to properly setup and value (building vendor request files / templates)
• Experience building, reviewing, or overseeing complex valuation models, with a strong understanding of industry…