Distribution Oversight Manager

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, the Manager- Distribution Oversight leads the Distribution Oversight team as the delegated Registered Supervisory Principal for electronic communications and hardcopy oversight. The team is responsible for the review of the Global Distribution sales teams communications. Through training and education, the Manager ensures the sales communications and sales practices comply with FINRA, SEC and other regulatory and internal guidelines and all MFS Conduct Policies. Coordinates with Distribution, Compliance and assigned business areas to address issues that may arise. As a Registered Principal, supervises the sales communications as required by the FINRA and internal MFS Compliance procedures. Manager leads in the development and delivery of supervisory reporting.

WHAT YOU WILL DO

• As the delegated Registered Supervisory Principal, responsible for the leadership of the Global Distribution Sales Communications, including hard copy correspondence is being reviewed and record kept, as well as ensuring complaints are reported and escalated as necessary. Develop strategic initiatives to help support Distribution in the efforts by working with senior leadership and Compliance to help achieve success.

• Acts as the supervisory principal reviewing electronic communications of Global Distribution employees and/or departments, including department heads, with respect to all current FINRA, SEC and other pertinent regulatory requirements including MFS guidelines and procedures. Allocates and manages assignments of their employees’ determining skills needed to review in each channel and region. Protects highly confidential nature of such communications.

• As the delegated Supervisory Principal for the team, reviews escalated concerns from the team that may be potential regulatory compliance concerns. Determines whether further action and/or escalation is necessary. Analyzes history and collects other sources of information pertinent to the potential concerns, including conducting further investigation and by discussion with the first line supervisor. Identifies and escalates potential issues to the Director of Risk and Regulatory, Compliance and/or assigned business areas as needed. Recommends next course of action to be taken on issue. As potential policy or guideline violations are uncovered, recommends next course of action to be taken on issue, including recommendations for training, clarity of guidelines or policies where greater understanding is needed.

• Leads the Global Relay Electronic Communication Governance Group to help validate and confirm that the electronic monitoring program is working effectively for Global Distribution and MFD. Meets with Compliance on a quarterly basis to discuss topics related to the program and make decisions on how monitoring can be enhanced. Also, develops policies and procedures for selecting messages for review based on approved criteria such as keyword searched and random sampling in conjunction with Compliance.

• Meets regularly with the distribution supervisors to discuss the supervisory report insights on and responds to any questions they may have.

• Monitors and provides guidance as necessary related to electronic communications against applicable guidelines for potential business practice issues or regulatory concerns. Analyzes history and other sources of information of potential issues. Performs further investigation and obtains additional detailed research by discussing and questioning the source(s) of the communication.

• Maintains a full understanding of all MFS policies and how they apply to global distribution sales practices, electronic communications and other potential conduct issues identified through, procedures, and guidelines relevant to the subject matter. Regularly meets with members of the Compliance Department to discuss policies and procedures and their potential impact (positively or negatively) on Global Distribution.

• Keeps current with all changes in both internal and industry regulations, guidelines, policies and issues impacting the content, use and distribution of electronic communications.

• Possesses strong and current working knowledge of each distribution unit and their specific business needs both internally and in the industry. Builds relationships and communicates directly with department supervisors of distribution areas, as well as senior members of Distribution Solutions and/or Compliance.

• Takes ownership with the development of policies and procedures for the Communication Oversight Team. Examines department workflows and makes changes on ways to increase efficiency while maintaining internal controls.

• Oversees projects to ensure effective and efficient integration of department and corporate initiatives with new or existing workflows/processes to ensure applicable goals are met within regulatory, internal and other framework. Provides information planning, establishes project level scope, priorities and timelines.

• Oversees the development and delivery of reporting.  Acts in a strategic capacity to enhance insights for the distribution supervisors and the internal operational reporting for the Risk and Regulatory team.

• Monitors and provides guidance to direct reports' responses to requests for information regarding electronic communications in conjunctions with Compliance and the distribution of reports to demonstrate compliance with electronic communication review requirements and highlights trends in content reviewed.

WHAT WE ARE LOOKING FOR

• Bachelor's Degree or equivalent work experience.

• A minimum of 6-8+ years of industry experience. Electronic and/or advertising review experience preferred.

• Managerial people leadership experience preferred.

• Position requires FINRA Series 7 and 24 registrations in accordance with MFS’ licensing policy and knowledge of applicable FINRA guidelines required.

• Excellent communication, interpersonal and decision-making skills. Ability to work independently and interact with all levels of the organization.

• Demonstrated project management experience.

• Experience working in an environment where controls and deadlines are required.

• Strong computer skills. Ability to analyze technology issues and concerns.

• Ability to function with a high degree of independence.

• Business Intelligence report development experience (E.g. Tableau).

• Bi-lingual is strongly desire.

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Base Salary Range: $95,500.00 - $137,500.00 This 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 for what we’ll pay depending on the candidate’s experience, training and education. In addition to the salary, we also offer significant and competitive incentive compensation based 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

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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 doesn't align perfectly, we encourage you to apply - you might be just the right candidate for this role or others.

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 [email protected] 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.