Derivative Onboarding Analyst

MFS Investment Management • Boston, MA

21h • $50,000 - $71,500 • Hybrid

About The Position

The Derivatives Onboarding Analyst sits within Derivatives Operations and supports agreement onboarding, fund lifecycle setup, and operational readiness for cleared, listed, and OTC derivative instruments across the firm’s portfolios. The role applies onboarding practices, documentation standards, and operational controls while helping resolve complex procedural issues.

The Analyst partners with Portfolio Management, Trading, Legal, Compliance, Risk, Technology, counterparties, and vendors to enable efficient agreement onboarding and risk-controlled expansion of the firm’s investment capabilities. The position also supports other operational functions, including trade support, daily pricing, and security setups as needed.

Requirements

• 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 counterparty onboarding processes.
• Familiarity with ISDA, CSA, clearing agreements, regulatory adherences, and related onboarding documentation.
• Ability to perform routine assignments using existing guidelines and apply critical thinking to complex administrative, procedural, or operational problems.
• Proficiency with Microsoft Excel and Microsoft 365 productivity tools, including Copilot.

Nice To Haves

• Experience operating within an Agile or Scrum-based delivery framework.
• Familiarity with order management, trade processing, onboarding workflow, or reference data platforms.

Responsibilities

• Coordinate onboarding for derivative instruments, including interest rate swaps, credit derivatives, FX derivatives, futures, options, cleared swaps, structured products, and fixed income-related instruments, following established guidelines and procedures.
• Track new counterparty, clearing broker, and vendor onboarding, including documentation intake, legal agreement readiness, static data, settlement instructions, operational setup, and system configuration.
• Maintain onboarding records and ensure legal, operational, regulatory, and business terms are accurately captured in firm systems and data repositories.
• Partner with Derivatives Legal and other stakeholders to confirm business terms, escalate 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 work with counterparty 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.
• Maintain detailed documentation, operating procedures, and audit-ready records.
• Identify control gaps and recommend enhancements to improve operational efficiency and risk mitigation.
• Coordinate broker-dealer onboarding service levels, SLA concerns, issue escalations, and relationships within assigned responsibilities.
• Use counterparty and vendor relationships to identify ways to streamline onboarding, reduce cycle times, strengthen controls, and improve stakeholder outcomes.
• Support procedure maintenance and UAT for other derivative operations functions, including trade communication, trade support, and pricing.
• Identify data quality issues and process inefficiencies and recommend improvements to operational resilience, scalability, audit readiness, and risk mitigation.
• Contribute to project and Agile or Scrum-based delivery by documenting requirements, supporting prioritization, validating solutions, and adopting necessary process changes.

Benefits

• Competitive incentive bonus based on individual and company performance.
• MFS contributes an amount equal to 15% of base salary to a retirement account separate from the company-sponsored 401(k).
• Education assistance: $100 monthly contribution, up to a $10,000 lifetime maximum, paid directly to the loan provider.
• Tuition reimbursement up to $8,000 annually.
• Access to discounted tutors and college coaches.
• Generous time off and fully paid leaves, including 20 weeks for maternity leave and 12 weeks for parental and caregiver leaves.
• Choice of medical and dental plans and an employer contribution to a Health Savings Account.
• Tax-deferred commuter benefits and flexible spending accounts for medical and dependent care.
• Wellness webinars, an employee assistance program focused on mental health, a subsidized Wellhub fitness benefit, virtual personal training, and well-being apps.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level