Derivative Onboarding Analyst

Massachusetts Financial Services Company; Boston (MA); Hybrid; USD 50,000 - 72,000; Full time

Benefits offered by this job

15% employer retirement contribution

Education assistance

Tuition reimbursement

Wellness programs

Flexible spending accounts

Generous leave

Job summary

Massachusetts Financial Services Company (MFS) seeks a Derivatives Onboarding Analyst to support onboarding, fund lifecycle setup, and operational readiness for derivative instruments across portfolios. Collaborate with Portfolio Management, Trading, Legal, Compliance, Risk, and Technology to deliver client-aligned solutions and maintain audit-ready records.

You will engage in agreement onboarding, vendor management, and UAT for new product implementations, ensuring data quality and timely

Qualifications

• 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 related capital markets function.
• Familiarity with ISDA, CSA, clearing agreements, regulatory adherences, and related onboarding documentation.
• Proficiency with Microsoft Excel and Microsoft 365 productivity tools including Copilot.

Responsibilities

• 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.
• Coordinate and track new counterparty, 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 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 functions.
• Maintain detailed documentation, operating procedures, and audit-ready records.
• Identify control gaps and recommend enhancements to strengthen operational efficiency and risk mitigation.

Skills

Onboarding knowledge

ISDA/CSA familiarity

Microsoft Excel

Education

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

Tools

Copilot

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

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.

WHAT YOU WILL DO

Agreement Onboarding

• 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 counterparty, 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 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 functions.

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

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

External Relationship and Vendor Management

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

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

Internal Partnership, Controls, and Process Improvement

• 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.

WHAT WE ARE LOOKING FOR

• 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 while applying critical thinking to complex administrative, procedural, or operational problems.

• Experience operating within an Agile or Scrum-based delivery framework preferred.

• Proficiency with Microsoft Excel and Microsoft 365 productivity tools including Copilot

• Familiarity with order management, trade processing, onboarding workflow, or reference data platforms preferred.

Base Salary Range: $50,000.00 - $71,500.00This position is eligible for competitive incentive bonus.

At MFS, we believe in fair and transparent compensation. For that reason, we're including the salary range for this position. This range reflects our good-faith expectation forwhat we'll pay depending on the candidate's experience, training and education. In addition to the salary, we also offer significant and competitive incentive compensationbased on both individual and company performance. Other components of our Total Rewards Package include:

• 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

Our compensation philosophy is to pay competitively for talent while ensuring equity across employees performing comparable work. We are committed to transparency - if you have questions about how we arrived at this range or what additional benefits and bonus opportunities come with the role, we'll be happy to discuss them

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 617-954-5000 or email [e-mail] for assistance.

At MFS, we are dedicated to building a diverse, inclusive and authentic workplace.

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.