Whether you’re an investment professional, an expert in sales or a technology specialist, you’ll find a culture at MFS that supports you in doing what you do best. Our employees work together to reach better outcomes, always favoring the strongest idea over the strongest individual. We put people first and show 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.
In this role, the individual will provide legal counsel for significant and strategic regulatory initiatives and on-going operations, including complex, regulatory-related processes, policies and procedures, etc. The Counsel will review, monitor and resolve related legal and regulatory issues as they pertain to assigned matters and other special projects/areas as determined by senior management.
- Identify, assess, and advise on new legislation and regulatory rules relevant to ERISA plans, collective investment trusts, IRAs, and other retirement vehicles (e.g. DOL rules, IRS rules, legislation). Apprise others of developments, recommend, and, when appropriate, decide on courses of action. Ensure best practices are developed and implemented within scope of position.
- Provide legal support to MFS retirement committees with respect to oversight of the MFS retirement plans, including planning quarterly meetings and minutes, preparing plan amendments and implementation of regulator changes. Provide legal support to Human Resources with respect to plan administration.
- Advise the investment team regarding eligibility of ERISA investors for a variety of fixed income and other investment types.
- Act as principal legal support for an MFS limited purpose trust, including overseeing Board meetings, drafting and presentation of materials to Board, oversight of regulatory reporting, and facilitating routine regulatory examinations of the trust company. Support collective investment trust product and onboarding of collective trust clients.
- Provide legal support to MFS’s transfer agent with respect to escheatment, IRA and other retail retirement products, shareholder issues and implementation of regulatory changes.
- Ensure legal/regulatory oversight of assigned matters and related systems is accurately and effectively provided, including monitoring company, competitive and regulatory developments for potential changes, drafting and revising new policies and procedures and overseeing the successful implementation of same, etc.
- Participate in complex, strategic and significant legal/regulatory initiatives and on-going operations relating to assigned matters. Conduct meetings with high level employees and bring issues to successful resolution. Review and interpret statutes, rules and policies which are relevant to the regulatory functions of MFS, its corporate subsidiaries and its fund complexes, and work with clients to meet their business objectives within the regulatory environment.
- Negotiate with internal and external parties on investment management agreements, complex contracts, matters and/or deals so as to satisfy the business objectives and regulatory requirements.
- Develop an understanding of business operations and practices, procedures and controls specific to the business units supported. Must maintain awareness of best practices and evolving issues within the scope of the position, and be able to relate same to MFS’ operations and practices, suggesting changes and modifications in practices and processes as necessary, and planning the implementation of same.
- Support the hiring, training, establishment of performance standards and monitoring of performance of staff. Support the professional development of staff, including the establishment of goals and objectives, communicating regularly on performance, and discussions of career development opportunities.
- Work with and oversee the work provided by outside counsel on a variety of legal matters ensuring that standards for service delivery and cost are met.
- Represent MFS at regulator and industry meetings and events.
- Assume additional responsibilities as required.
- Bachelor’s Degree and Juris Doctorate Degree required. Must have at least 5 years work experience as an attorney in investment management, financial services or industry-related firm, or at least 5 years work experience at a law firm. Strong working knowledge of ERISA is required (with respect to investment management and/or retirement plans). Experience with the US tax Code requirements for retirement plans and IRAs is preferred. Experience with collective investment trusts or similar products is a plus.
- Must be a member in good standing of the Bar and maintain good standing for all necessary license(s) and/or professional qualifications.
- Excellent interpersonal, organizational, communication, customer-service, team-working and problem-solving skills. Must be able to write effectively, and present research, analysis and conclusions in a persuasive manner. Must be polished, professional, mature, well-mannered and well-spoken.
- Must have demonstrated leadership skills and be able to implement, execute and exemplify MFS’ business culture with limited supervision. Proven ability to develop and foster strong interpersonal relationships and to maintain effective cross-functional teams throughout the organization.
- Experience managing the delivery of projects while ensuring the success of same and the cooperation of cross- functional teams, with both domestic and international team members, is preferred.
- Proven ability to exercise judgment, pursue initiatives and implement changes necessary to align functional area with strategic/long-term goals of MFS and of the Legal Department is required.
- Excellent presentation and persuasion skills are required. Must be able to present comfortably before groups and to educate and persuade audience with argument so as to gain acceptance and cooperation.
- Must be proficient in MS Word Office and able to develop proficiency in other MFS Office programs (Outlook, Word, Excel, PowerPoint) and MFS systems as required to perform the duties of this position. Must be able to conduct on-line research and to utilize applicable tools. Must employ and embrace the use of technology in performance of the job
- Must be able to work overtime as necessary to keep current with work.
- Periodic travel, domestic or international, may occasionally be required.
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 talent_acquisitionmfs.com for assistance.
MFS is an Affirmative Action and 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. “Click here to view the ‘EEO is the Law’ poster and supplement.”