The posting
Job Description
Asset & Wealth Management
A career with Goldman Sachs Asset & Wealth Management is an opportunity to help clients across the globe realize their potential, while you discover your own. As part of one of the world’s leading asset managers with over $2.8 trillion in assets under supervision globally1, you can expect to participate in exciting investment opportunities while collaborating with talented colleagues from all asset classes and regions, and building meaningful relationships with your clients. Working in a culture that values integrity and transparency, you will be part of a diverse team that is passionate about our craft, our clients, and building sustainable success. Bringing together traditional and alternative investments, Goldman Sachs Asset & Wealth Management provides clients around the world with a dedicated partnership and focus on long-term performance. As the primary investment area within Goldman Sachs, we provide investment and advisory services for pension plans, sovereign wealth funds, insurance companies, endowments, foundations, financial advisors and individuals.
External Investing Group (XIG)
The External Investing Group (“XIG”) provides investors with investment and advisory solutions, across leading hedge fund managers, private equity and private credit funds, real estate managers, public equity strategies, fixed income strategies and ESG (impact) strategies across all asset classes. XIG manages globally diversified programs, targeted sector-specific strategies, customized portfolios, and a range of advisory services. Our investors access opportunities through new fund commitments, fund-of-fund investments, strategic partnerships, secondary-market investments, co-investments, and seed-capital investments. With over 350 professionals across 13 offices around the world, XIG provides manager diligence, portfolio construction, risk management, and liquidity solutions to investors, drawing on Goldman Sachs’ market insights and risk management expertise. We extend these global capabilities to the world’s leading sovereign wealth funds, pension plans, governments, financial institutions, endowments, foundations, high net worth individuals and family offices, for which we invest or advise on over $360 billion of alternative investments, public equity strategies and fixed income strategies.1 We are focused on diversity of thought and have team members with a wide range of backgrounds and professional experiences.
XIG Private Markets Platform Management
The XIG Private Markets Platform Management team is broadly responsible for portfolio implementation, liquidity risk management, portfolio allocation and monitoring, external manager on-boarding and oversight, private market deal closing, valuation models for level 3 assets, overseeing the business control framework as well as a number of important strategic initiatives. The team works closely with the investment and capital formation areas within XIG, and with functional teams across the broader firm including Central Trading, Fund Accounting, Operations, Technology, Legal and Compliance.
Head of Valuations | Role Overview
The Head of Valuations will lead the valuation function for XIG Private Markets, with responsibility for the governance, execution and continued evolution of valuation processes across private market investments and other Level 3 assets. The role will partner closely with investment teams, portfolio managers, Controllers, Fund Accounting, Operations, Legal, Compliance, Risk, Technology and external service providers to deliver valuations that are timely, well-supported, consistently applied and responsive to the needs of clients, funds and senior management. The individual will serve as a senior valuation advisor, lead a team of valuation professionals and drive a scalable operating model that combines rigorous judgment, strong controls, high-quality data and fit-for-purpose technology.
Key Responsibilities
- Own the end-to-end valuation framework for private market investments and other Level 3 assets, including methodology selection, model review, documentation, approvals, challenge and reporting.
- Lead quarterly and ad hoc valuation processes, establishing clear timelines, decision rights, escalation protocols and quality standards across investment teams and control functions.
- Provide independent, commercially informed challenge of valuation conclusions, key assumptions and supporting evidence, including company performance, transaction activity, market data, capital structure and relevant valuation benchmarks.
- Chair or support valuation governance forums and present clear recommendations, areas of judgment, valuation movements and emerging risks to senior stakeholders and oversight committees.
- Partner with deal teams and portfolio managers on new investments, follow-on transactions, restructurings, financings, exits and other events to assess valuation implications and ensure appropriate day-one and ongoing treatment.
- Maintain and enhance valuation policies, procedures, methodologies, model standards and control documentation in alignment with applicable accounting guidance, regulatory expectations and firm requirements.
- Act as the primary valuation contact for Controllers, auditors, Compliance, Risk and other review functions, coordinating responses and ensuring that conclusions are supported by complete, decision-useful evidence.
- Build and lead a high-performing valuation team, setting priorities, developing technical judgment, reviewing work product, allocating resources and creating clear accountability across internal staff and managed-service support.
- Develop a scalable valuation operating model capable of supporting growth in investment volume, product complexity and reporting frequency without a proportionate increase in manual effort or operational risk.
- Drive valuation technology, data and workflow transformation, including automated ingestion of company and manager reporting, standardized model inputs, review workflows, exception management and management information.
- Establish performance indicators and reporting that provide transparency into process status, valuation movements, model changes, data quality, control execution, open issues and capacity requirements.
- Promote consistency across strategies and products while preserving the ability to apply asset-specific judgment; identify cross-portfolio themes and ensure lessons learned are incorporated into standards and training.
- Support client, product and strategic initiatives that require robust valuation capabilities, including enhanced reporting frequency, new vehicle launches and integration of acquired or newly onboarded portfolios.
Required Skillsets and Experience
- Deep private markets valuation expertise, including experience assessing complex, illiquid and Level 3 investments across a range of sectors, structures and stages of maturity.
- Strong command of valuation methodologies and financial modeling, including discounted cash flow, market and transaction approaches, scenario analysis, calibration, option-based techniques and capital structure allocation, as applicable.
- Demonstrated ability to apply sound judgment to incomplete or evolving information, distinguish material issues from noise and reach clear, defensible conclusions.
- Leadership experience managing and developing professionals, setting standards, balancing competing deadlines and creating a culture of ownership, constructive challenge and continuous improvement.
- Executive communication skills, with the ability to translate complex valuation matters into concise recommendations for senior investment professionals, control functions, auditors, clients and governance forums.
- Strong control mindset and experience designing, operating and evidencing governance frameworks, review controls, model controls, issue escalation and remediation processes.
- Proven ability to influence across a matrixed organization and build effective partnerships with Investment, Controllers, Fund Accounting, Operations, Technology, Legal, Compliance, Risk and external providers.
- Technology and data fluency, including the ability to define business requirements, improve data architecture and workflows, and use automation and AI responsibly to increase quality, consistency and operating capacity.
- Advanced analytical capabilities and proficiency with AI, Excel and valuation tools; experience with AI prompt generation and output verification, data visualization, workflow platforms or private markets technology is beneficial.
- Program and change-management capability, including prioritization, roadmap development, stakeholder alignment, implementation oversight and measurable adoption of new processes or technology.
- High standards of integrity, precision and accountability, with the ability to operate effectively under tight reporting timelines and heightened scrutiny.
- Relevant professional experience in private markets valuation, investing, transaction advisory, audit, fund accounting or a related discipline; an advanced degree or professional qualification such as CFA, CPA or ASA is beneficial.
