Why Work at MFS?

Amar IT Infrastructure, Vice President with MFS since 2006

"MFS will stand by you."

What are your areas of responsibility?

My teams are responsible for managing the database infrastructure and services for a variety of platforms and the problem management process across all technology areas at MFS. Some of the critical applications and functions we support include fixed-income and equity trading systems, mutual fund accounting systems, investment research, and mfs.com. I am also part of Enterprise Architecture Review Board, which is responsible for evaluating new technologies and new technology projects to see how they fit into our current environment as well as how they align with the business direction of MFS.

Who is indispensable to your job?

Individual team members and team managers across all my teams, of course, but also all other teams we interact with on a daily basis because without them we would be unable to do our jobs and vice versa. It is hard to name just one or a few teams because my teams are interconnected with a variety of IT and business teams and there is very strong communication and teamwork that goes on between the various teams.

What is surprising about MFS?

We have management channels and hierarchy like any other organization but when it comes to communication, and this is up to the senior levels of management, there is almost no hierarchy. I could go and talk to Robin [Stelmach, COO], and so could my direct reports and their direct reports, and she would know who they are and what they do. It's a very good and unique thing at the company. This is not the norm at many other places. At MFS, communication-wise and recognition-wise, it’s more like a family.

What would you say to technology professionals who consider joining MFS?

I would tell them MFS has platforms for you to bring your ideas, discuss the technology and business case and generate management support. The Enterprise Architecture Review Board (EARB) is one such platform. If you have ideas and innovations that improve what we do, the EARB is where you can present your ideas. It’s a forum of senior people and if you take your ideas to the board and get approval, you will have strong support to implement them. On the other hand, if you have an idea that may not work, it’s a good forum to vet ideas, and if you get feedback from the Board, you may correct your process at the beginning stages of a project, instead of spending 90% of your time developing something that might not be a good fit.

Why do people stay at MFS?

At work we need career enhancement and we need challenges. But another important part of why we work is for our families, and if you were to need support for your family due to unfortunate circumstances, MFS will stand by you. They will support you and that's very, very important because at the end of the day, in addition to intellectual satisfaction, we work for our families.

Rick Workforce Analyst MFS Service Center with MFS since 2010

"Small things really add up."

How did you come to work at MFS?

I started as a contractor in the service center after I graduated from college and joined full-time the following year.

What do you do?

I analyze staffing needs and key call data. We want 90% of calls answered within 15 seconds, with a drop rate of less than 1%. I also make sure everyone has the proper equipment and that calls are recorded.

I couldn't do my job without...

The telecom group. They help me with technical issues that only they can resolve. They're always great about being available, pulling calls, and solving other systems issues.

What's the best part of your job?

I work with great people. Everyone here really cares, and they love the company. The feeling is that MFS really cares about you. I think it shows in the benefits and in the way you are treated.

What is the most important lesson you have learned?

The number-one thing I learned so far is to value your own work because the impact is so overreaching. If you do a great job, it makes everyone's job so much easier. Small things really add up. Just learning to be polite, to be on time. When you see that on a daily basis, it shows that people care. Everyone here is very professional.

Robyn Premier Partner representative MFS Service Center with MFS since 2009

"I learned how to ask the right questions."

How did you come to work at MFS?

I had an internship at [another financial services firm] during college, and when I graduated I stayed on with them as an intern. They had a hiring freeze, and my manager told me about an opening at MFS.

What do you do?

When advisors have a problem with an exchange or a sale, we're the ones they call. I feel like we're the voice of MFS. We can't control fund performance, but we can make sure that issues are resolved and that advisors are happy.

What have you learned that surprised you?

With client service, it's not just communication skills that matter. Accuracy, follow-through, data entry, transaction processing, and quality controls are all important.

What skills have you learned that you use outside the office?

How to ask the right questions. How to gauge someone's personality quickly and figure out the best way to help them-even if they are unsure what they need.

Why do you think people stay with MFS?

Environment. At [the other financial services company where I worked] you never spoke, saw, or even talked about the CEO. There was no communication. Here, Rob Manning (CEO) comes here and talks to us. The COO, Robin Stelmach, is here all the time, and Maureen (MFS Service Center president) meets with us every week. Everyone is part of each other's success.

Pooja Research associate, Equity with MFS since 2009 Pooja was recruited through the Research Associates Program.

"You get a lot of responsibility and the freedom to think creatively"

How did you come to work at MFS?

I was hired through the research associates program after I graduated. And now some of my time is spent recruiting new research associates.

What do you say to students about the program?

I tell them it's a great opportunity. The work is intellectually stimulating, you get lots of responsibility and the freedom to think creatively. You do real analysis to determine whether we as a company should invest in a business or not. You frequently meet with management teams of top-tier companies-exposure you might not get at an investment bank.

What is the most surprising thing you have learned since joining MFS?

How willing people are to give you as much responsibility as you are willing to take on. In other firms your role may be extremely well defined with specific steps to follow, and as long as you get the job done, you have met the expectation. At MFS, they start with the assumption that you can do the job, and they think you can do better than you think you can do. So they may say "here's a really hard project, and we're going to give you all the support you need to do as well at it, and we think there's a pretty high probability that you'll succeed." They constantly push you to see how much better you can do.

I couldn't do my job without...

My team members and the senior people here constantly teaching me, guiding me, pointing me in the right direction. That's where I'm getting all my knowledge. For example, the person who taught me accounting was Ellen, a portfolio manager. I learn directly from research analysts and portfolio managers. I think that's the best part of this job: the fact that there's very little hierarchy. It's an extremely flat structure.

Why would someone choose to work at MFS?

It sounds very cliché, but at MFS I really think there is a distinct culture. I'll give you a very tangible example. I know some research associates that work at other firms. They are given a company to research. They might have two or three months to do this. They do all the work, try to figure out all the right answers, and create the finished presentation before they take it to a portfolio manager or an analyst for critique.

At MFS I can do some initial research on a project and take 20% of the work to any portfolio manager and say, "Look, this is how much I've done, this is where I think I need to go with this, I think I need to follow steps A, B, C, D to get to an investment thesis. Do you agree with that chain of thought, or do you think I should be thinking about it differently?" More often than not, people will come up with different suggestions, and I'll change my analysis or modify it in the beginning rather than spending two months creating something that someone may or may not be happy with in the end. Here, we're all working together so that the ultimate goal-creating shareholder value-is met.

Steve Trade processing coordinator II with MFS since 2002. Steve first worked at MFS though the co-op program in 2009.

"You know a lot of people."

How did you come to work at MFS?

I started as a co-op in 2009 working in data integrity. The co-op program was great. And when I came out of school into a tough job market, my experience made it much easier to find a job. I saw the job opening at MFS, and it worked out.

Did it feel different when you joined full-time?

Not really. At MFS we treat the co-ops as full-timers; there's no real distinction when you're working as a co-op. I was a co-op at another financial services firm, and the culture is completely different here. It's less intimidating, and it's easier to fit in. It has a small-company feel. You feel like you know a lot of people. Everyone here works hard, but it's more relaxed.

What do you do?

We make sure transactions flow from the trading system into the accounting system so the securities our traders and portfolio managers traded last night wind up in the right place. It sounds simple, but it's a very critical function. We also manage the collateral for margin accounts to support derivatives and futures trading.

What's the most surprising thing you've learned since you joined? I was surprised how great the benefits are. I think a lot of people would agree that we have great benefits. I didn't know they were that great when I was a co-op.

Jeff Internal wholesaler with MFS since 2009

"Set yourself apart"

What do you do?

I call financial advisors. I try to get them acclimated to MFS, and keep them up to speed with what is currently going in the markets that could affect their business and their clients. I try to set myself apart from someone who calls them up and says, "I've got a fact sheet or a ticker symbol." There are thousands of mutual funds out there. I believe that if you give someone some ideas they can work with and not just a ticker symbol, you set yourself apart, and you open the floor to have more conversations.

Who do you talk to?

I work the wire houses, and those guys are busy. There's a short window, so I try to get my idea across and move on. I also believe that just because they're not dropping tickets all the time, I'm still doing my job if I just keep the name MFS out there. I don't ever want my wholesaler walking into an office and have an advisor say "Jeff who?" I want them to say the opposite, "He calls me all the time; he drives me nuts."

What's the most surprising thing at MFS?

The lack of egos. I've worked at some other companies where you can't talk to people because of who they are. Here, I feel I can approach and talk to anyone. I've never worked in a company where people are so open to talking with you.

Why do people stay at MFS?

They stay because they are treated incredibly well, and they're valued by upper management. My father once said, as cliché as it sounds, "You're only as good as the employers you work for, and if employees don't want to work for you, you're going to struggle at some point." If people don't want to stay at your company, you have huge turnover, and it's very difficult to stay on the path to growth for a long time. People stay at MFS for a long time, and it tells you something about the company – that you're treated very well, that you feel like you have a voice. MFS thinks of their employees first. I hear Rob Manning (CEO) speak and I can tell he's not some BS guy who gives you a bunch of smoke and mirrors. He's up there and he actually says, "This is my company, this is my life." After you hear him, it's easy to see why people stay.

Betsy Research analyst, Equity with MFS since 2010. Betsy joined MFS through the MBA Summer Intern Program in 2009 and joined MFS full-time in 2010.

"They value you as a thinker."

How was your experience in the summer intern program?

It was a very insightful intern experience. MFS has both a formal and an informal mentorship and training program. It's very much an open-door culture throughout the organization as a full-time employee, and that translates to the intern experience. You have quite a bit of access to portfolio managers and research analysts. The industries you are given to cover are spaces that portfolio managers are expressly interested in and so, as a result, you get a lot of attention and you work gets a lot of attention. You are taken seriously. They value your work for the summer, and they value you as a thinker.

What do you do in your current role?

As a member of the health care sector team, I create analyses and conduct research to make investment recommendations to portfolio managers. I also play a role in one of our analyst-run portfolios through the health care sector team. It's a sector-neutral fund, and each sector manages a sleeve of the portfolio. It's very much a team effort. We'll convene and talk about trims and adds as a group and make the decision whether to buy or sell certain stocks, so it's certainly an opportunity at the analyst level to manage a portfolio.

Were there any surprises with your job?

One thing that is surprising is that picking stocks is much more behavioral and psychological than I thought when I first interned. You have to constantly monitor your innate biases and identify them and try to mitigate them so that you're making objective investment decisions, and that's a surprising part of the job.

I couldn't do my job without...

Weekly sector meetings. I'm in the health care sector. We have weekly sector meetings at which a member may present one of his or her stock ideas or we may come together to decide changes to the research fund and allocations there. These meetings are particularly important as a convening ground. We talk about larger topics that affect the health care space in general, as well as specific topics so we can think in one mindset about the right moves for the portfolio. It gives me the opportunity to pull out of my subsector expertise and take a more bird's eye view of the overall health care sector, to understand some of the other trends affecting my companies that I may not necessarily pick up on when I'm in the weeds researching some of my companies.

Christine Senior compliance manager with MFS since 1998

"I learn something new every day."

What do you do?

In portfolio compliance we look at the portfolio and at the company level to make sure that the products are in line with the prospectus guidelines and regulations. For separate accounts we ensure that holdings stay in line with client guidelines and we also do board reporting for subadvised clients. They want to make sure their portfolios are in compliance. If we invest in another country, they have their own regulations, and we prepare those filings as well.

I couldn’t do my job without...

Client services, the legal group, and my team. We interact with many groups within the company. Certain people have certain areas of expertise. We work closely with institutional client services for separate accounts and subadvised products, for example. Board reporting requests and questions come through them.

What if you have a question that you can't answer?

If I have a question, I can go to Rob [my manager]. Rob has an open-door policy, and I tell this to new people in my group, that they can always go to Rob, there's no need to go through me. It's a team, and you'll see Rob always out on the floor, talking, listening. He never says, "only bother me if it's a true issue." It's not like that. And you feel free to bring ideas up. You may not be right all the time, but your ideas are heard and you can get to a resolution.

What would you say to someone considering working here?

I've been here for 13 years within the compliance department, and when people ask why I stayed so long, one reason I say is that you learn something new every day. With new products, new regulations, new accounts, there's always something to learn. There might be one regulation and you say, "I understand that," and all of sudden there's a new security type, and you have to look at that and say, "How does that fit in to what I know? What are the things that we have to think about?"