Investment Compliance Specialist
Whether you're an investment professional, an expert in sales or a technology specialist, you'll find a culture at MFS that supports you in doing what you do best. Our employees work together to reach better outcomes, always favoring the strongest idea over the strongest individual. We put people first and show 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. Job Description
The Investment Compliance Specialist ensures that all mutual funds, institutional accounts, and banking service mutual funds that are advised by MFS or its affiliates are in compliance with federal and state regulations, federal and state tax requirements, and are managed in conformity with stated investment objectives and policies of each respective fund or account. Principal Responsibilities:
Using knowledge of regulatory requirements relating to investment compliance for both US and non-US jurisdictions (e.g., 1940 Act Funds, UCITS, ERISA) and by applying an understanding of client requirements, perform the following responsibilities: Monitor:
- Review clients' investment guidelines and regulatory restrictions to develop the appropriate coding into the compliance system.
- Evaluate proposed orders, including equity, fixed income and derivatives to determine compliance with applicable investment restrictions.
- Review, identify and research compliance exceptions from which independent conclusions are made and reasonable solutions are proposed.
- Report compliance violations to managers. Recommend strategies for restoring compliance and ensure restoration of same
- Review and analyze the daily investment compliance monitoring of clients' portfolios and regulated entities employing a variety of automated and manual processes. May also include, a review and comment on the current prospectus, statement of additional information, investment advisory agreement, and Declaration of Trust or Articles of Incorporation for each fund or account. Update and review all compliance testing for any changes to current fund or account investment objectives and policies. Ensure that the funds and accounts comply with various rules and regulations. Periodically review and update applicable procedures for the related regulations.
- Ensure that all applicable regulatory filings are filed in the appropriate timeframe.
- Keep abreast of global regulatory updates and interpretive releases in order to advise investment team.
- Participate in specialized projects that involve interactions across MFS and its subsidiary companies. Address concerns, present solutions and identify ways to mitigate risk exposure.
- Develop compliance training manuals and train investment management, administrative and custodian personnel.
- Assumes additional responsibilities as requested.
- Bachelor's Degree or equivalent work experience. Must have at least 5 years work experience. Significant prior exposure to investment management operations and its related rules and regulations is required as is experience working in a compliance-related function.
- Complete understanding of different security types (Equity and Fixed Income); with some derivatives experience.
- Good business judgment and the ability to handle stressful situations with internal clients while maintaining a professional approach to problem solving and risk reduction.
- Strong interpersonal, organizational, communication, customer-service, team-working and problem- solving skills. Must be able to write effectively, and present research, analysis and conclusions in a persuasive manner.
- Must be thorough, detail-oriented, persistent, self-motivated, and able to function with a high degree of independence and accuracy, and to work on multiple projects while meeting competing deadlines.
- Effective analytical abilities are required, including solid research skills and the ability to recommend solutions from that analysis.
- Must be able to take ownership for the delivery of projects while also operating successfully in a cross- functional, often international, team environment. Demonstrated ability to work effectively with employees and outside parties at all organizational levels. The desire to further develop and foster strong interpersonal relationships and to maintain effective cross-functional teams is needed.
- Understanding of the business operations and practices, procedures and controls specific to the business units supported is required. Desire to keep abreast of best practices as well as evolving issues within scope of the position is required.
- Presentation skills are required as is the ability to present comfortably before a small group (10).
- May represent MFS at meetings, conferences or related industry events.
- Exposure to project management/project management skills is a plus.
- Must be proficient in MS Office (Outlook, Word, Excel, PowerPoint) and able to develop proficiency in MFS systems as required to perform the duties of this position. Must be able to conduct on-line research and to utilize applicable tools. In addition, Charles River Development (CRD) experience preferred.
- Able to work overtime as necessary to keep current with work.
- 14. Some regional travel may be required.
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 firstname.lastname@example.org 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. " Click here to view the 'EEO is the Law' poster and supplement ."