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Type of Role: Investments

Experience Level: Analyst/Associate

Location: Boston, Massachusetts

Salary: $93K - $154K

Liberty Mutual Group is an American diversified global insurer and the sixth-largest property and casualty insurer in the United States. It ranks 71st on the Fortune 100 list of largest corporations in the United States based on 2020 revenue. Based in Boston, Massachusetts, and featuring the Statue of Liberty (formally Liberty Enlightening the World) on its logo, it employs over 45,000 people in more than 900 locations throughout the world. As of December 31, 2021, Liberty Mutual Insurance had $156.043 billion in consolidated assets, $128.195 billion in consolidated liabilities and $48.2 billion in annual consolidated revenue.

Description

Company: Liberty Mutual Investments (LMI)

 

  • LMI is the globally invested, multi-strategy investment firm responsible for managing the investable assets of the Liberty Mutual Insurance Group and its pension plan (totaling ~$100B)
  • Liberty Mutual is a global Fortune 100 property/casualty insurer. As a mutual, Liberty is owned by its policyholders. We view insurance is a social good that mitigates risk for people and businesses
  • The assets insurers hold to meet policyholders’ needs are investable. We invest in fixed income, public equity, private equity, private credit, venture capital, real estate, the energy transition and more
  • In sum, LMI is driven by a shared mission to generate capital, enabling Liberty to pursue its strategic aspirations and meet the needs of policyholders—winning with purpose, together
  • To deliver on our mission, we attract and develop a diverse, cross-trained and high-performing team

Job Summary:

The Senior Associate role is within the Strategy & Asset Allocation (SAA) function of Liberty Mutual Investments. SAA is the nerve center of LMI, responsible for developing the tools and insights necessary for deconstructing the macro/market narrative, informing top-down house views, proposing cross-asset trades, and setting asset allocation. SAA functions as the Office of the Chief Investment Officer (CIO), influencing all aspects of the portfolio management process and ensuring that LMI delivers for its LMIG partners.

Within SAA, the role will reside within the Portfolio Solutions team and the individual will have responsibilities across two complex mandates: the insurance general account ($95B AUM) and the company’s pension fund ($7B AUM). Through portfolio expertise, investment acumen, and regulatory knowledge, the individual will work to provide portfolio solutions across top-down asset allocation, portfolio construction, and portfolio management. Keys to success include building and leveraging internal and external relationships, mastery of influence through oral and written communication, creative approaches to existing and new problems, and their ability to adapt to feedback and incorporate a diversity of perspective.

Responsibilities: 

Insurance General Account (GA):

  • Collaborate cross-functionally to derive execution plans that advance GA asset allocation, including implementation in an execution and constraint aware manner, facilitation of cash funding, and utilization of synthetic derivative-based strategies
  • Coordinate within SAA to recommend and influence portfolio actions as market scenarios and asset class expectations evolve, continuously ensuring alignment between the view and positioning on both a short- and long-term basis
  • Directly manage the GA’s Completion Portfolio which spans a cash/funding mandate, a liquidity treasury ladder, a passive public equity mandate, active exposures as part of annual asset allocation (e.g., period credit overweight), and a suite of derivative strategies spanning hedging, replication, and income generation
  • Facilitate providing general portfolio solutions from a “One Portfolio” perspective, bringing together portfolio expertise, asset class and structuring insight, and creative problem solving to ensure pro-active readiness regarding the organization’s ability to achieve long-term asset allocation aspirations while also maintaining portfolio flexibility
  • Maintain a suite of portfolio analysis tools aimed at generating a forward-looking view of the portfolio and convey market narrative and portfolio positioning to key stakeholders including the GA’s Internal Investment Committee

Pension:

  • Support the Head of Pension in fulfilling the Plan’s objective from day-to-day management to recommendation of long-term strategic asset allocation targets
  • Research, recommend, and implement enhancements to overall LDI strategy as the Plan matures as well as in response to changing market and regulatory regimes
  • Coordinate with stakeholders including the actuary, external managers, internal managers, Compliance, corporate Finance, and the benefits organization to ensure alignment across the economic, accounting, and regulatory view of the Plan’s funded status
  • Lead quarterly risk and performance reviews, prepare investment committee communications, and maintain governance documentation

Qualifications

We are seeking a driven, energetic, high-performing investment professional with 8+ years’ experience and deep familiarity with institutional liability-aware investing (insurance and pension). Additional requirements include:

 

  • Familiarity with a wide range of public and private asset classes, understanding of investment vehicles and structures with an insurance asset management lens, and experience in portfolio construction and management
  • Proven ability to get up to speed on new topics and projects and develop a deep understanding of various issues related to macroeconomics, capital markets, investing, risk, and insurance industry dynamics, regulations, and accounting principles
  • Excellent interpersonal and relationship-building skills, with the ability to effectively understand, engage and build relationships with a wide range of stakeholders, executives, and team members
  • Strong written and verbal communication skills, with the ability to craft clear, concise, error-free and compelling messages and to adapt to different communications styles, voices and methods
  • Professional maturity and comfort with providing and receiving feedback and with advocating for a point of view while remaining open to other perspectives
  • Proven ability to execute, collaborate, connect, and drive productivity in a remote/hybrid work environment
  • Proficient in MS Office (Excel, PowerPoint, Word, Teams), other investment-related software and tools (Bloomberg and Aladdin). Experience / knowledge of object-oriented programming languages a plus (Matlab, Python, SQL).

About Us

At Liberty Mutual, our purpose is to help people embrace today and confidently pursue tomorrow. That’s why we provide an environment focused on openness, inclusion, trust and respect. Here, you’ll discover our expansive range of roles, and a workplace where we aim to help turn your passion into a rewarding profession.

 

Liberty Mutual has proudly been recognized as a “Great Place to Work” by Great Place to Work® US for the past several years. We were also selected as one of the “100 Best Places to Work in IT” on IDG’s Insider Pro and Computerworld’s 2020 list. For many years running, we have been named by Forbes as one of America’s Best Employers for Women and one of America’s Best Employers for New Graduates—as well as one of America’s Best Employers for Diversity. To learn more about our commitment to diversity and inclusion please visit: https://jobs.libertymutualgroup.com/diversity-equity-inclusion/

 

We value your hard work, integrity and commitment to make things better, and we put people first by offering you benefits that support your life and well-being. To learn more about our benefit offerings please visit: https://LMI.co/Benefits

 

Liberty Mutual is an equal opportunity employer. We will not tolerate discrimination on the basis of race, color, national origin, sex, sexual orientation, gender identity, religion, age, disability, veteran’s status, pregnancy, genetic information or on any basis prohibited by federal, state or local law.