Investment Management: Controllers (Valuation)

Had a random recruiter reach out to me about a potential opportunity at a top bank in NYC specifically within their “Investment Management Controllers Valuations team”.

What exactly is this team and what is their primary function? The recruiter said valuation of funds (duh), interaction with their Investment Management business and investors etc etc. Pretty vague but sounds interesting, especially with the bank’s name having good brand value for exit opportunities.

Can anyone give additional insight as to what this group actually does on a day-to-day basis? Is this a glorified accounting team they’ve given a fancy title to?

EDIT: Additionally, what kind of exit opportunities, in a different role, could come out of this?

My friend did that at BoA before, not sure if it’s exactly the same but what she did was auditing investment manager’s balance sheet and get an accurate measure of their value for lending purposes. She absolutely hated the environment and the job.

So in other words, “Investment Management Controllers Valuations team” = Junior Accountants.

What was bad about the environment, treated poorly, underpaid with crap hours?

This smell like a hack job

I guess it could be different from bank to bank but coworkers were rude, gossipy, no drive, highly bureaucratic especially after they hired bunch of people with no product knowledge as higher-ups in the organization. Work’s not interesting whatsoever but I guess that’s with any auditing, accounting related job.

Sounds like investment accounting - awful stuff and BO as hell, but takign it depends on a few things, what are you doing now and is this even a step up or just sideways?

stay far away from anything with “Controllers” in the title.

You may as well tattoo “back office” on your forehead

If it’s backoffice then it’s a step backward, pun intended! I mostly do deal origination (like) work in a corporate finance setting for a big consulting firm. Lots of client business case development, pricing, (internal) P&L analysis etc - I guess I can see why they like me but not sure if this is what I want. They reached out to me so easy to step away if it turns out to be what it smells like, the only thing I like is the name which might be worth persuing.


The recruiter called me and the first thing they said was this role is not back office like the typical controller role in the industry but a mid-front office directly working their private equity group doing valuation type of work. Are they fluffing this role or is it something to waste a half a day interviewing for to figure out if it’s a good fit?

By the way does “valuation” type of roles always mean accounting?

Sounds middle office

Middle office is okay, backoffice is definitely not.

they could be fluffing… i think the only way to be sure is to go for a meeting at their office, meet the team, etc. not much to lose at this point. Get a full job description - I wouldn’t hold your breath though. And make sure the salary range is right first.

they could be fluffing. even controllers “interact” with front office on a daily basis. you have to meet them and really get a feel for it