Derivative Onboarding Analyst

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 Derivatives Onboarding Analyst sits within Derivatives Operations, supporting the agreement onboarding, fund lifecycle setup, and operational readiness of cleared, listed and OTC derivative instruments across portfolios managed by the firm.

The role requires knowledge of onboarding practices, documentation, and operational controls, as well as the ability to support complex procedural issues. The Analyst will partner closely with Portfolio Management, Trading, Legal, Compliance, Risk, and Technology teams enabling efficient agreement onboarding and risk-controlled expansion of the firm's investment capabilities. The Analyst identifies broader implications of onboarding issues and engages the appropriate stakeholders to deliver practical, client-aligned solutions.

The role will provide support for other key operational functions, including trade support, daily pricing and security setups as needed.

• Support and coordinate onboarding for derivative instruments, including interest rate swaps, credit derivatives, FX derivatives, futures, options, cleared swaps, structured products, and fixed income-related instruments, using established guidelines and procedures.

• Coordinate and keep track of new counter party, clearing broker, and vendor onboarding activities, including documentation intake, legal agreement readiness, static data, settlement instructions, operational setup, and system configuration.

• Track and maintain onboarding records ensuring key legal, operational, regulatory, and business terms are accurately captured in firm systems and data repositories.

• Partner with Derivatives Legal and other stakeholders to confirm select business terms, elevate documentation issues, and support timely completion of ISDA, CSA, clearing, and related agreements.

• Conduct periodic reconciliations and data quality reviews to mitigate operational and valuation risk.

• Maintain active trading agreements and engage with counter party operational teams to ensure account setups are trade ready.

• Support system User Acceptance Testing (UAT) for enhancements and new product implementations related to derivative onboarding functions.

• Maintain detailed documentation, operating procedures, and audit-ready records.

• Identify control gaps and recommend enhancements to strengthen operational efficiency and risk mitigation.

• Serve as a point of contact for broker-dealer onboarding service levels, SLA concerns, issue escalation, and relationship coordination within assigned responsibilities.

• Use counter party and vendor relationships to identify opportunities to streamline onboarding, reduce cycle times, strengthen controls, and improve stakeholder outcomes.

• Support other key team functions, procedure maintenance, and UAT of technology implementations for other derivative operational functions including trade communication, trade support, and pricing.

• Identify control gaps, data quality issues, and process inefficiencies; generate practical recommendations that improve operational resilience, scalability, audit readiness, and risk mitigation.

• Contribute to project and Agile or Scrum-based delivery efforts by documenting requirements, supporting prioritization, validating solutions, and adopting changes to work processes and practices where necessary.

• Bachelor's degree in Finance, Economics, Accounting, Mathematics, Business, or a related discipline.

• 0-2+ years of experience in Fixed Income investment operations, middle office, product onboarding, derivatives onboarding, business support, or a related capital markets function.

• Basic knowledge of derivative products, fixed income instruments, trade lifecycle events, legal documentation, collateral, margin, clearing, and counter party onboarding processes.

• Familiarity with ISDA, CSA, clearing agreements, regulatory adherences, and related onboarding documentation.

• Ability to perform routine assignments using…