Valuation & Oversight Senior Specialist

MFS Investment Management • Boston, MA

23d • Hybrid

About The Position

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 Using discretion and judgment, monitors security pricing matters for the mutual funds in the daily pricing process such as the coordination of fair value, price tolerance exception reviews and price source change instructions; prepares and reviews daily and monthly reports related to the ASC 820 process for financial reporting; and compiles and reviews materials to be presented to the Valuation Committee and Fund Boards. Serve as moderator for the daily 4:15 fair value call. Oversee the Valuation & Oversight Specialist in the absence of the Supervisor.

Requirements

• Bachelor's degree preferably with a concentration in accounting or other related financial discipline or equivalent in on-the-job work experience in the mutual fund or securities industry.
• 2-5+ years’ experience in fund accounting, or administrative and operational areas of an investment advisor or securities firm, or servicing mutual funds at an auditing firm or custodian bank required.
• Experience working in a diverse environment where production, controls, and daily deadlines are required.
• Strong organizational skills, verbal and written communication skills, and the ability to work independently.
• Proficient microcomputer skills and knowledge of spreadsheet and database software

Nice To Haves

• Preferred, 2-5+ years’ experience specifically in mutual fund pricing and security valuation.
• Knowledge of generally accepted accounting principles is preferred.

Responsibilities

• Compile and review daily results of single-issuer and multi-issuer fair valuations. Use judgment and market information to identify and research issues requiring further investigation.
• Perform, assist with, or oversee the performance of, daily pricing functions including coordination of price tolerance exception reviews and oversight of ASC 820 reporting to ensure proper categorization of securities.
• Coordinate and confirm any security price source changes between MFS Trading and the custodian banks to ensure appropriate approvals have been obtained.
• Prepare and review monthly ASC 820 disclosure templates to ensure proper categorization of market values of securities to be used in the preparation of the funds' financial reports.
• Prepare and review 20+ reports to be used in the materials presented to the Valuation Committee and the Funds’ Boards of Directors and liaise with other departments when it comes to compiling the Valuation Committee materials that are being provided from other departments outside of Fund Treasury Research and resolve nightly pricing issues with the custodian banks including missing prices, price tolerance exceptions, and pricing vendor coverage issues.
• Communicate fair value prices to the custodians, maintain lists of fair valued securities, ensure correct pricing on designated securities, and review all team correspondences to custodian banks to ensure accuracy.
• Monitors the significant event triggers and communicates internally, and to the custodian banks whether fair value will be implemented based on trigger levels.
• Serve as the moderator for the daily 4:15 fair value call where one-off fair values and foreign equity fair value are discussed.
• Be an active participant in the Custodian bi-weekly calls where open pricing issues, and current initiatives are discussed.
• Coordinate, or assist with the coordination of, periodic due diligence meetings with ~20 pricing vendors, including compiling agendas and assisting with meeting documentation to be presented to the Valuation Committee and Fund Boards.
• Review and confirm the nightly swing pricing determination with the applicable custodians.
• Conduct reviews of Valuation & Oversight Specialist materials
• Originate and update procedures for assigned tasks as required.
• Perform other related ad-hoc assignments as required.

Benefits

• This position is eligible for competitive incentive bonus.
• MFS contributes an amount equal to 15% of your base salary to your retirement account that is separate from the company -sponsored 401(k)
• Education Assistance: MFS contributes $100 monthly up to $10,000 lifetime maximum directly to loan provider
• Education Assistance: Tuition reimbursement up to $8,000 annually
• Education Assistance: Access to discounted tutors and college coaches
• Generous time off and fully paid leaves including 20-weeks for maternity, 12-weeks for parental and caregiver leaves
• Choice of medical and dental plans and an and an employer contribution into the Health Savings Account
• Tax deferred commuter benefits & flexible spending accounts (medical & dependent care)
• Wellness Programs: Robust wellness webinars, employee assistance program with a focus on mental health, subsidized fitness benefit via Wellhub (formerly Gympass), where you can workout at gyms, studios and boutique fitness locations near you, join virtual personal training sessions and access a wide variety of well-being apps

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Number of Employees: 1,001-5,000 employees