Principal, Pricing & Valuation-Control - Investment Operations

Over the last 20 years, Ares’ success has been driven by our people and our culture. Today, our team is guided by our core values – Collaborative, Responsible, Entrepreneurial, Self-Aware, Trustworthy – and our purpose to be a catalyst for shared prosperity and a better future. Through our recruitment, career development and employee-focused programming, we are committed to fostering a welcoming and inclusive work environment where high-performance talent of diverse backgrounds, experiences, and perspectives can build careers within this exciting and growing industry.

Job Description

SUMMARY

Ares is seeking a strategic, hands-on Principal of Pricing to lead our enterprise pricing and valuation-control capability. Reporting to the Head of Operations, this individual will set the vision and operating model for pricing, build scalable tooling and rules, strengthen SOX and valuation governance. The role will combine control ownership, product leadership, and vendor management to ensure the pricing function scales with the complexity and growth of the investment platform.

The successful candidate will operate at the intersection of Operations and other strategic data partners, including Portfolio Management, Technology, Fund Accounting, Compliance, and both internal and external audit teams. The individual should be equally comfortable setting enterprise direction and engaging in detailed challenges, while bringing an external perspective on the evolving pricing and valuation models in the market. This is an opportunity for a builder and enterprise leader who can take a complex pricing environment and make it more systematic, transparent, automated, commercially efficient and easier to govern.

Reporting Relationship

• Reports to: Head of Operations

• Key partnerships: Private Valuation leadership, investment teams across Credit, Private Equity, Special Situations, Technology, Finance, Audit and strategic market-data / pricing vendors

PRIMARY FUNCTIONS & ESSENTIAL RESPONSIBILITIES

Core Pricing Operations & Data Stewardship

• Own the daily pricing process across loans, bonds, equities, derivatives and private securities. Source data from vendor and internal team uploads and review discrepancies, significant variances, stale pricing, and pricing history to ensure accurate records.

• Own the strategic and commercial relationship with third-party market pricing vendors. Monitor service quality, coverage, methodology, controls, resiliency, and implement new capabilities.

• Partner with portfolio managers and investment teams to deliver timely and accurate investment information and support valuation conclusions in accordance with applicable accounting and audit standards.

• Continuous improvement on design and maintenance of pricing rules hierarchy by asset class and source - including vendor selection, source precedence, tolerance thresholds, stale-price logic, fallback rules and escalation criteria.

• Lead implementation and rollout of new pricing functionality, system enhancements, integrations, and vendor solutions; drive decisions, manage issues and support adoption.

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Pricing Product Vision & Platform Build-Out

• Own the operating model and multi-year roadmap of the firm’s pricing capability including workflows, rule engines, exception management, approval paths, dashboards, audit trails and integration with the broader valuation ecosystem.

• Serve as the senior pricing advisor to the Head of Operations and valuation leadership, providing a clear point of view on risk and controls, as well as the capabilities required to support future growth.

• Enforce enterprise standards and ensure all valuation teams follow said standard decision so that local practices do not undermine firm-wide consistency or control.

Pricing Governance, Controls & SOX

• Own and continually strengthen the pricing control framework, including SOX-relevant controls, evidence standards, approvals, segregation of duties, exception governance and control documentation.

• Ensure pricing processes are repeatable, auditable, and supported by clear policy, procedures, and evidence across daily, monthly, quarterly and annual valuation cycles.

• Partner with Fund Accounting, Internal Audit, External Audit, and Compliance on valuation-control design, testing, documentation and remediation.

• Monitor regulatory, accounting, and industry developments and translate relevant changes into operating procedures, system rules and governance standards.

• Develop control metrics that identify recurring exceptions, override behavior, control failures, and emerging valuation risks.

Independent Challenge of Pricing & Overrides

• Act as an independent control partner to the investment desks by critically reviewing pricing exceptions, material movements, stale prices, illiquid positions, and trader/portfolio manager overrides.

• Establish consistent override thresholds, reason codes, aging standards, and escalation protocols so that overrides are governed by policy rather than convention.

• Perform trend and root-cause analysis on overrides and pricing exceptions to identify patterns by desk, asset class, source, or individual security and recommend remediation.

• Balance commercial understanding with control independence, maintaining constructive relationships while being willing to push back where pricing support is insufficient.

Vendor Strategy, Commercial Management & External Benchmarking

• Set the firm-wide strategy for price providers, defining where Ares should buy, build, consolidate or diversify capabilities based on asset-class needs, control requirements, and economics.

• Lead vendor selection, renewals and commercial negotiations, including pricing, licensing, service levels, data rights, implementation commitments, and contractual protections; use scale and consolidated firm demand to improve economics and service.

• Establish vendor scorecards and governance forums to evaluate coverage, price quality, methodology, responsiveness, SLA performance, control environment, and value delivered; escalate persistent gaps and drive remediation.

• Regularly assess overlapping vendor services and opportunities to rationalize spending, simplify architecture and improve resilience without compromising valuation control objectives.

• Develop an external benchmarking program to understand how leading alternative asset managers and other relevant peers structure pricing teams, technology, and controls.

Qualifications

Education

• Bachelor’s degree in Finance, Accounting, Economics, Business or a related discipline required.

• MBA, CFA and/or CPA preferred.

Experience

• Minimum 10-15 years of progressively responsible experience in investment management, capital markets, valuation, pricing, investment operations, fund accounting, product management or a related field, with demonstrated leadership of complex cross-functional initiatives.

• Demonstrated senior-level experience with pricing controls, valuation governance, price verification, exception management and market data within a complex asset-management environment.

• Strong fixed-income and credit product knowledge; experience with bank loans, CLOs, CDOs, variable-rate securities and other complex or less-liquid instruments strongly preferred.

• Experience building or enhancing pricing tools, workflows, dashboards, rules engines or operational platforms in partnership with Technology.

• Demonstrated experience managing strategic market-data or pricing-vendor relationships, including contract negotiation, commercial optimization, service governance, and vendor performance management.

• Strong external orientation with experience benchmarking operating models, controls, and technology against peers or industry best practice and translating those insights into scalable change.

• Experience with alternative asset management and private or illiquid investments preferred.