Fund Treasury Risk and Internal Controls Co-op

About the position 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. Fund Treasury Risk and Internal Controls Co-op MFS is a global investment management firm focused on creating long-term value responsibly by doing what’s right for our clients every day. Our rich history dates to 1924, when our founders invented the mutual fund. Since then, collaboration and innovation have fueled our success. Our unwavering commitment to finding the best, most durable investment opportunities is what sets us apart – and our success is grounded in our unique approach, disciplined philosophy and collaborative culture. THE ROLE Joining our team provides opportunities to share your voice and talents, tackle challenging problems, create solutions and collaborate with dedicated co-workers. This Co-op experience provides participants with a meaningful, relevant work experience as part of their academic studies. In addition to daily responsibilities, participants will have the opportunity to participate in a series of structured activities designed to enhance their learning experience including: Co-Op New Hire Orientation Senior Leadership Speaker Series Social & Networking Events Presentation Challenges At the conclusion of this position, co-ops will have increased their knowledge of investing, the mutual fund industry, employee engagement, and a firm understanding of how corporate finance works at an asset manager. MFS co-op positions are a 6-month commitment, working Monday – Friday (July 7th through December 18th, 2026), and work between 35-40 hours. Our program is designed for undergraduate students who are currently enrolled in a co-op program through their college or university and can meet our requirements. Job Summary Under the direction of the Internal Controls Manager, administer various risk management and internal control initiatives and activities. Assist Fund Treasury business process owners in identifying and documenting key risks and internal controls, and in developing or updating appropriate policies and procedures. Maintain internal controls documentation. Learn about the daily, monthly and annual processes related to a mutual fund, including assisting Fund Treasury with vendor payments and supporting Accounting Oversight with ad hoc assignments. Learn about accounting and custody agent due diligence, oversight, and assessment techniques. Learn about the purpose and usefulness of service organization control reports (SOC 1, SOC 2), including techniques to review, analyze, summarize, and communicate key points to management. Assist the Internal Controls Manager in cross-functional risk, control, and regulatory projects as opportunities arise.

Responsibilities

• Learns and applies internal control techniques with respect to Fund Treasury business processes.
• Assists in identifying the key control points of a system or operational process to ensure that procedures are developed completely, accurately, and in accordance with MFS standards.
• Learn to effectively evaluate, document, and/or flowchart business processes with a focus on identifying key risks and controls.
• Maintain procedures and internal control documentation in DIVA, MFS' proprietary multi-functional database.
• Instruct and coordinate payment instructions to external vendors to ensure payments are made timely and accurately.
• Assists in preparation and monitoring of asset based fees, expense caps, fund expense ratios, expense budgets, and prepares additional deliverables as needed.
• Participate in a wide range of projects related to risk and internal control and/or fund accounting & custody oversight functions.
• Support Accounting Oversight with various ad hoc projects and calculations of fund distributions.

Requirements

• A strong interest and willingness to learn about the financial services industry, particularly mutual funds, securities, and compliance.
• A strong interest and willingness to learn and apply skills relating to internal control frameworks, the risk assessment process, as well as policy and procedure analysis and/or development.
• Solid analytical, organizational, written and verbal communication skills.

Nice-to-haves

• Familiarity with the Sarbanes-Oxley Act (Section 302) helpful.
• Familiarity with service organization control reports (SOC 1, SOC 2) helpful.

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