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.

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