Derivatives Manager

At MFS, you will find a culture that supports you in doing what you do best. Our employees work together to reach better outcomes, favoring the strongest idea over the strongest individual. We put people first and demonstrate care and compassion for our community and each other. Because what we do matters - to us as valued professionals and to the millions of people and institutions who rely on us to help them build more secure and prosperous futures.

THE ROLE

Within Investment Operations, the centralized derivatives oversight and management team collaborates with the Investment team as and when derivative instruments are traded to ensure they are correctly setup, processed, valued, and reported within the MFS operational systems. The Derivatives Operations Manager is responsible for providing oversight of the end-to-end derivative lifecycle within MFS and maintaining relationships with key external stakeholders (custodians, counterparties).

WHAT YOU WILL DO

• Manages personnel either directly or through supervisors; allocates and monitors work and makes decisions regarding employment, training and development, performance appraisals and salary administration.
• Oversee all aspects of the derivatives lifecycle providing guidance for the various MFS teams involved with lifecycle operational aspects of both exchange traded and over the counter interest rate, credit, equity, foreign exchange and commodity derivatives.
• Collaborate with and provide guidance to Investments, Operations, Enterprise Data, Investment Risk Management and Compliance on derivatives terms and conditions, setup, economics, and other lifecycle needs.
• Drive identification and implementation of efficiencies into operational processes that address people, process, and technology considerations.
• Review and monitor all derivative transactions setup and processing, ensuring accuracy and consistency across internal and external processes and systems.
• Drive operational readiness for any new derivative instruments being considered.
• Monitor pricing & valuation process for all derivatives and review discrepancies across internal systems, third party valuations, counterparties, FCM's and CCP's. Provide guidance and perspective, when appropriate, to MFS valuation committee.
• Maintain risk management and mitigation focus to ensure derivative transactions details are booked correctly in the firm's systems and derivative performance and regulatory reporting is accurate.
• Build and maintain strong relationships across MFS alongside counterparties, FCM's, CCP's and vendors. Resolve issues/disputes with counterparties.
• Provide guidance to the collateral process across the firm for all cleared and uncleared derivatives, repo and TBA's. Review margin requirements (both initial margin and variation margin), security selection and margin movement.
• Consult with Legal, Compliance and oversee the co-ordination of operational setups as well as monitor any changes with regulatory rules and limits. Ensure operational flows are implemented as agreed during onboarding process and updated, as needed.
• Monitor/stay abreast of daily trade activity and issues with trade executions and reconciliations through risk control reports, collaborating with key stakeholder teams to resolve exceptions through to completion.
• Stay abreast of current derivatives technology & process landscape and educate key stakeholders on current market trends.
• Play a key part in providing requirements and designing solutions to address derivative technology and process needs.
• Assist with ad-hoc/special projects as needed.

WHAT WE ARE LOOKING FOR

• Bachelor's degree or equivalent experience
• A minimum of 6-8+ years financial services experience with 5-7 years' experience with derivatives
• Strong understanding of derivatives end-to-end lifecycle; including, but not limited to security data & set-up, transaction processing, collateral, accounting, performance, and settlements.
• Flexible, proactive, energetic approach
• Demonstrated high level analytical and problem-solving ability to accurately diagnose key complex issues.
• Strong leadership, interpersonal, communication and organizational skills to work in a collaborative, team based, process driven environment. Able to collaborate credibly internally, understanding and leveraging the firm's existing processes/systems and desired efficiencies to deliver solutions to meet stakeholders' needs.
• Entrepreneurial mindset, able to suggest & implement innovative ideas to complement & develop new processes as they evolve with the business.

#MBLI

#LI-HYBRID

At MFS, we are dedicated to building a diverse, inclusive and authentic workplace. If you are excited about this role but your past experience doesn't align perfectly, we encourage you to apply - you might be just the right candidate for this role or others.

• Generous time-off provided: including "Responsible time off" for many roles, paid company holidays when the US Stock Exchange is closed, plus paid volunteer time
• Family Focus: Up to 20 weeks of paid leave for new parents, back-up care program, dependent care flexible spending account, adoption assistance, generous caregiver leave
• Health and Welfare: Competitive medical, vision and dental plans, plus tax-free health savings accounts with company contributions
• Wellness Programs: Robust wellness webinars, employee assistance program, gym reimbursement through our medical plans, fitness center discounts and more
• Life & Disability Benefits: Company-paid basic life insurance and short-term disability
• Financial Benefits: 401(k) savings plan, Defined Contribution plan- 15% of base salary invested into the Plan, competitive total compensation programs

MFS is a hybrid work environment (remote/onsite) unless otherwise stated in the job posting.

If any applicant is unable to complete an application or respond to a job opening because of a disability, please contact MFS at 617-954-5000 or email talent_acquisition@mfs.com for assistance.

MFS is an Affirmative Action and Equal Opportunity Employer and it is our policy to not discriminate against any employee or applicant for employment because of race, color, religion, sex, national origin, age, marital status, sexual orientation, gender identity, genetic information, disability, veteran status, or any other status protected by federal, state or local laws. Employees and applicants of MFS will not be subject to harassment on the basis of their status. Additionally, retaliation, including intimidation, threats, or coercion, because an employee or applicant has objected to discrimination, engaged or may engage in filing a complaint, assisted in a review, investigation, or hearing or have otherwise sought to obtain their legal rights under any Federal, State, or local EEO law is prohibited. Please see the Know Your Rights: Workplace Discrimination is Illegal document and Pay Transparency Nondiscrimination Provision, linked for your reference.