Senior Associate, Strategy & Asset Allocation - Portfolio Solutions

Company: Liberty Mutual Insurance
Location: Boston
Posted on: March 20, 2023

Job 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 teamJob 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 CommitteePension:
    • 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

Keywords: Liberty Mutual Insurance, Boston , Senior Associate, Strategy & Asset Allocation - Portfolio Solutions, Accounting, Auditing , Boston, Massachusetts