Permanent Risk and Valuation Function

Role Purpose

The role combines the AIFM’s Permanent Risk Function and Permanent Valuation Function, with an additional support role towards Compliance. It provides independent oversight of all risks relating to the AIFs under management and to the Management Company, and performs, controls and documents the AIFM’s internal valuations across the AIFs, compartments and mandates in scope.

Both functions operate independently from Portfolio Management and investment decision-making, ensure adherence to the AIFMD, CSSF regulations and internal governance standards, and contribute to the firm’s risk and compliance culture. Final oversight remains with the Conducting Officers in charge of Risk Management and of Valuation, the relevant committees and, where applicable, the Board of Managers.

Main Responsibilities

Valuation

• Manage the valuation and NAV calendar across AIFs and compartments; plan information requests; prioritise work on a risk basis; escalate when necessary.
• Determine the applicable framework (law, fund documents, side letters, accounting basis, valuation policy); classify assets by economic substance; apply methodologies consistently; document and approve any override or change.
• Prepare or review valuations; assess and challenge key inputs; run reasonableness, sensitivity and calibration checks; explain material movements versus prior valuations.
• Check source data for completeness and reliability; critically review marks from Portfolio Management, GPs, advisers and administrators; document limitations and flag conflicts of interest.
• Build and maintain clear, auditable, version-controlled valuation models; coordinate validation of new or materially changed models.
• Prepare and defend valuation packs for the Valuation Committee; communicate approved values to the administrator through controlled channels; verify correct booking and support NAV error investigations.
• Support the annual review of the valuation policy and fund annexes; oversee due diligence on external valuation advisers.

Risk Management

• Define, implement and maintain a risk management framework across all AIFs and the Management Company, aligned with AIFMD, CSSF Circulars and internal governance; keep policies and methodologies current; ensure segregation of duties from operational and investment functions.
• Identify, assess and monitor market, liquidity, counterparty/credit, leverage, operational and conduct risk; maintain key risk indicators and limits; escalate breaches, exceptions and emerging risks to Senior Management and the Board.
• Run periodic portfolio risk reviews against approved limits and strategy; oversee liquidity risk, including stress testing, redemption monitoring and alignment with fund liquidity profiles; assess the risk implications of investment decisions, leverage and structural features.
• Design and run stress tests, scenario and sensitivity analyses in line with AIFMD and CSSF expectations; assess portfolio resilience and propose mitigating measures.
• Prepare decision-oriented risk reports for Senior Management, the Board and relevant committees; contribute to regulatory filings and disclosures; support internal/external audits and regulatory inspections.

Profile & skills

• Master’s degree in finance, accounting, economics, mathematics or a related field;
• CFA, CAIA, FRM, ACCA, ACA or an equivalent risk, valuation or investment credential preferred.
• At least 5years in risk management within an AIFM, management company or regulated financial institution, and ideally five or more years in total across risk, valuation, transaction services, private markets, audit, advisory or fund administration, including valuing or reviewing illiquid assets (ideally private equity and private debt).
• Prior experience as a Permanent Risk Function holder or in a similar key control function is a strong advantage.
• In-depth knowledge of the AIFMD, CSSF regulations and risk governance expectations for Conducting Officers.
• Risk measurement and monitoring across market, liquidity, credit, counterparty and leverage risk, key risk indicators and stress testing; fair-value principles, Luxembourg GAAP and, where relevant, IFRS 13 and IPEV Guidelines;
• Advanced Excel and financial modelling; ability to analyse fund documents, loan agreements, cap tables and valuation reports.
• Ability to manage concurrent regulatory and NAV deadlines, clear reporting and Board-level communication, integrity, and the confidence to challenge constructively and resist pressure.
• Strong written English; French is an advantage.

Recruitment Process Notice

We are dedicated to promoting a fair and inclusive hiring process, where each application is assessed solely on merit, qualifications, and professional experience. We do not tolerate any form of discrimination and aim to ensure equal opportunities for all candidates.

As part of the final steps of the recruitment process, the selected candidate will be required to provide supporting documentation, including copies of diplomas and employment certificates. In addition, a criminal record extract (bulletin no. 3) will be requested for review purposes.