Valuation & Oversight Senior Specialist
Valuation & Oversight Senior Specialist
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Job Description
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.
WHAT YOU WILL DO
- 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.
WHAT WE ARE LOOKING FOR
- Bachelors 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. Preferred 2-5 years experience specifically in mutual fund pricing and security valuation.
- 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
- Knowledge of generally accepted accounting principles is preferred.
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At MFS we are dedicated to building a diverse inclusive and authentic workplace. If you are excited about this role but your past experience doesnt align perfectly we encourage you to apply - you might be just the right candidate for this role or others.
What we offer:
- Generous time-off provided: including Responsible time off for many roles paid company holidays when the US Stock Exchange is closed plus paid volunteer time
- Family Focus: Up to 20 weeks of paid leave for new parents back-up care program dependent care flexible spending account adoption assistance generous caregiver leave
- Health and Welfare: Competitive medical vision and dental plans plus tax-free health savings accounts with company contributions
- Wellness Programs: Robust wellness webinars employee assistance program gym reimbursement through our medical plans fitness center discounts and more
- Life & Disability Benefits: Company-paid basic life insurance and short-term disability
- Financial Benefits: 401(k) savings plan Defined Contribution plan- 15% of base salary invested into the Plan competitive total compensation programs
Applicants must be currently authorized to work in the United States on a full-time basis. This position is not eligible for sponsorship.
MFS is a hybrid work environment (remote/onsite) unless otherwise stated in the job posting.
If any applicant is unable to complete an application or respond to a job opening because of a disability please contact MFS at or email for assistance.
MFS is an 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. Please see the Know Your Rights: Workplace Discrimination is Illegal document linked for your reference.
Required Experience:
Senior IC
Employment Type
Full-Time
