OPS Group Description:
The Pricing group supports the entire firm focusing on interactions with the Global Fund Accounting area, Client Reporting and Performance, Portfolio Management, and Legal and Compliance. Pricing is responsible for timely and accurate valuations of all assets held in client accounts. They are responsible for the quality control of the data and the distribution of data throughout the firm.
The pricing group reviews and updates securities pricing for clients on a daily, weekly, and monthly basis. Prices securities for institutional and private clients as well as support daily NAV processing on AB Mutual Funds and similar vehicles. The pricing team will resolve pricing issues that arise as a result of quality control processes or direct challenges by Portfolio Management staff. The team reviews daily vendor supplied prices and researches and resolves pricing exceptions in a timely manner. They manually price securities that are not provided by vendors using brokers, models, or other approved methodologies. They process and manage data related to pricing activities. The team also analyzes price movements against market expectations, prior data and secondary sources.
Ops Job Description:
We are seeking a Nashville based Pricing Analyst to join our Pricing and Valuations Team in Global Investment Management Operations.
Describe the role: The Pricing Analyst will be responsible for performing tasks daily in pricing the asset managed by AB and involved in ensuring compliance with AB Policy. These pricing tasks are in support of AB critical business functions. The Analyst will participate in the daily Valuation Committee Conference Call. The Pricing Analyst will review vendor supplied data and will work closely with the Valuation Committee (senior Risk and Compliance officers), data vendors, traders, portfolio managers, global fund accounting, custodians, and other key AB and external staff. They will manage and maintain workflow driving quality control reports and also review hard to price securities and provide research and analysis on key inputs to pricing these assets – with the end result of providing accurate and timely valuation.
Describe the applications and business or enterprise functions the role supports: The Pricing team supports most core functions at AB including Investment Accounting, Global Fund Accounting, Client Reporting and Performance, Portfolio Management, Legal and Compliance, and Financial Reporting. The data distributed by this team effects daily valuation, Mutual Fund NAV’s, regulatory reporting, financial reporting, and trading.
The key job responsibilities include, but are not limited to:
• Research prices for assets in AB valued accounts.
• Review and validate daily key quality control reports in support of pricing:
o Missing prices
o Daily price variance
o Stale prices
• Contact with data vendors to gain commentary on prices as well as challenge prices
• Contact with internal traders and external brokers to monitor market activity
• Contact with AB portfolio managers and research analysts to comment on hard to price securities and fluctuations in prices of held securities.
• Daily contact and review with AB Valuation Committee – daily opportunities to present and discuss key issues in this forum.
What makes this role unique or interesting (if applicable)?
This role is an entry level role into the field of pricing and valuations. The regulatory and client service environment is continually changing and the Pricing Analyst is at the forefront of this. There is regular interaction with senior members of AB as well as the AB Valuation Committee. AB manages most current asset types (Stocks, Bonds, Asset Backed, all types of Over-the-Counter Derivatives) and the pricing analyst will be exposed to these asset types.
What is the professional development value of this role, i.e. what learning and professional growth does the role offer the candidate?
The role is currently evolving as the environment changes. This role provides an opportunity to learn from some of most experienced investment professionals in the business as well as very seasoned members of the AB pricing team. This role will have significant exposure to senior members of AB management team and provide opportunities to contribute in a very meaningful way.