Senior Manager, Private Valuation; Private Credit Focus

Position Overview

Senior Private Company Valuation Manager

Prepare valuations of private investments – specifically private credit securities held by T. Rowe Price and related funds. Determine recommended prices of difficult-to-value securities, provide robust documentation, and defend and communicate valuations to internal and external constituents. The position sits within T. Rowe Price’s Global Investment Operations department. The fair value ultimately is used as an input into our funds’ NAVs, which are disclosed in our quarterly SEC filings and reviewed in various capacities including by our external auditors.

• Collect a mosaic of information to calculate, monitor, and communicate valuations of private company investments.
• Review company and industry backgrounds, available financial information, internal projections, management projections, and/or financial market inputs.
• Use prior transaction values, comparable company valuation analysis, comparable transaction valuation analysis, and/or discounted cash flow models to produce a conclusion of value that is audit ready.
• Handle and debate common valuation challenges arising from private company investments, such as discounts for lack of marketability and interpreting the impact of preference terms, “ratchet” rights, treatment of stock‑based compensation, or other deal‑specific differentiating features.
• Act as a subject‑matter expert on our valuation process, operate independently within the framework of the role, and initiate suggestions or improvements to the process when appropriate.
• Participate in presentations, conferences, or meetings to improve and communicate our private‑company valuation process.

• Bachelor’s degree or the equivalent combination of education and relevant experience.
• 8+ years of total relevant work experience.

• Experience in valuing private credit securities, with a secondary emphasis on valuing private equity investments and analyzing complex capital structures associated with PE/VC transactions.
• Strong knowledge of both theoretical and practical valuation concepts and standards, including equity, debt, and firm‑level invested capital analysis, and familiarity with valuation guidelines such as the Accounting and Valuation Guide published by the AICPA.
• Experience with highly valued technology, biotech, and/or pre‑revenue companies.
• At least one valuation‑related credential such as CFA, CPA/ABV, CVA, or ASA; CFA charter holder designation strongly preferred.
• Desire to work in a middle‑office environment supporting a fast‑paced investment process.
• Experience with Excel models and analytical/research tools such as Bloomberg, Fact Set, or S&P Capital IQ.
• FINRA licenses are not required and will not be supported for this role.

• Maryland, Colorado, Washington, and remote workers: $ – $.
• Washington, D.C.: $ – $.
• New York, California: $ – $.

Hybrid work eligible, with up to one day per week from home.

• Competitive compensation.
• Annual bonus eligibility.
• Generous retirement plan.
• Hybrid work schedule.
• Health and wellness benefits, including online therapy.
• Paid time off for vacation, illness, medical appointments, and volunteering days.
• Family care resources, including fertility and adoption benefits.

At T. Rowe Price, our associates are our greatest asset. We thrive because our company culture is built on inclusion and because we sustain a work environment where associates can bring their best selves to work every day. The backgrounds, talents, and experiences of our global associates allow us to embrace new ideas and perspectives that move our business priorities forward and enable us to deliver strong client outcomes.

Here, you can expect equal opportunity and fair and consistent treatment for all.

T. Rowe Price is an equal opportunity employer and values diversity of thought, gender, and race. We believe our continued success depends on the equal treatment of all associates and applicants for employment without discrimination on the basis of race, religion, creed, color, national origin, sex, gender, age, mental or physical disability, marital status, sexual orientation, gender identity or expression, citizenship status, military or veteran status, pregnancy, or any other classification protected by country, federal, state, or local law.