Associate, Performance Analytics

Introduction

The Performance Analytics team is part of the Quantitative Strategy and Performance Analytics (QSPA) team within the larger Portfolio Strategy and Risk Group which helps to provide guidance on our strategic direction and portfolio objectives.
The Performance Analytics team has 3 key responsibilities:

• Cost of Capital Framework: The team develops, refines and implements, for all our investments, Temasek’s cost of capital framework, which both determines the hurdle rates for investment evaluation/performance monitoring and the discount rates used in valuation.
• Certain Annual Performance Metrics: The team computes the performance of the Temasek portfolio on a bottom-up basis and is responsible for reporting Temasek’s annual “Wealth Added” (total dollar return minus dollar cost of capital), which is audited and officially published in the Temasek Review.  
• Performance Analysis and Enhancement: The team also helps identify patterns and possible improvements in performance or investment behavior in order to enhance portfolio returns.
   

Responsibilities

1. Cost of Capital Framework

• Review and refine our cost of capital policy and performance measurement methodologies. This may involve extensive study of academic research and market practices and an assessment of how these can be applied to our framework.
• Develop and refine the cost of capital policy and performance measurement framework for new asset classes. 
• Partner with investment teams to provide ex ante inputs on cost of capital/discount rate parameters and interpretation of expost performance metrics for investments in the Temasek portfolio, Advise investment teams on the appropriate Cost of Capital using approved frameworks across asset classes.

2. Computation of Performance Metrics 

• Prepare, review, and verify bottom-up performance numbers for all Temasek’s listed and unlisted assets in preparation for annual “Wealth Added” and “Total Shareholder Return” generation and audit, for publication in the Temasek Review. 

3. Performance Reporting and Data Management 

• Participate actively in provision of performance metrics and analysis for annual Temasek Reviews. 
• Generate performance reports and assist in providing investment performance reports to internal & external stakeholders 
• Partner with investment teams to interprete expost performance metrics for investments in the Temasek portfolio, understand drivers of portfolio and sub-portfolio returns (absolute and relative), on an ongoing basis in multiple cuts (e.g. security, sector/region, strategy, etc.)
• Manage annual audit requirements on performance metrics.
• Raise, investigate and follow up on issues related to data quality and content of the reports.

4. Technology Tooks and System Transformation

• Manage (a) systematic/automated computation of performance metrics by working with Digital Tech team and in-house engineers (b) refinements in systems and tools to streamline processes & (c) external vendors to enhance use of third-party system/data

Requirements

• Bachelor’s degree in Finance, Business or Accounting, with analytical mindset
• High level of motivation and drive, with strong interest in building career in Finance and/or Performance Measurement and Analytics  
• Knowledge of valuation and corporate finance concepts is a must
• Meticulous approach with strong interpersonal and communication skills are required
• Ability to work well independently and in a team is essential
• Proficiency in Microsoft Word, Excel and PowerPoint
• Experience using Qliksense, Bloomberg, and Factset would be a strong plus
• High level of motivation and drive, with strong interest in building career in Finance and/or Performance Measurement and Analytics 
• Knowledge in a programming language (preferably Python/R/SQL) would be a plus