Associate, Credit Strategist – Global Strategy & Capital Allocation (GSCA) - Liberty Mutual Investments

Liberty Mutual Insurance•Boston, MA

1d•Hybrid

About The Position

Liberty Mutual Investments (LMI) manages Liberty Mutual Insurance Group’s (LMIG) global financial assets across global markets and private domains to build capital and generate income. With over $100 billion in assets under management (AUM) and a team of nearly 300 investment, finance, and operations professionals located in Boston, MA, and New York, NY, LMI offers the best of both worlds — the look and feel of a boutique investment firm with the reputation and financial strength of a global leader. LMI has been on a transformation path to spur innovation, capitalize on deep expertise, and scale its returns on long-term flexible capital through a “one firm, one portfolio, one team” mindset. Our operating model is built on three pillars: centralized portfolio construction, asset management, and investment-enabling services. The teams are structured as Investment Business Units (IBUs) working in concert: Global Strategy & Capital Allocation, Risk Management, Global Credit Markets, Global Alternative Markets, Global Liquid Markets, and Global Investment Solutions. Our portfolio spans a broad spectrum of public and private asset classes, and we are committed to expanding our capabilities and our toolkit in furtherance of our mission. The Portfolio Strategy team develops forward-looking views across macro, equity, and credit markets and translates them into asset allocation, portfolio construction, and risk management decisions across short-, medium-, and long-term horizons. The team drives: Strategic and tactical asset allocation, Cross-asset relative value views, Thematic and structural insights. The team serves as the central link between top-down market views and capital allocation, ensuring portfolios remain aligned with evolving market conditions—a core function of portfolio strategists broadly. The Credit Strategist develops top-down views across credit markets, primarily in the US, and translates them into portfolio positioning and allocation recommendations. The role focuses on relative value and beta across credit asset classes—including private credit (direct lending, capital solutions, ABF), structured credit, real estate debt, and public markets (HY, IG)—while ensuring alignment with broader cross-asset strategy.

Requirements

High-conviction views on credit markets and cycles
Strong quantitative and portfolio construction skillset
Ability to link credit with macro and other asset classes
Real-time tracking of markets and exposures
Ability to shape decisions across senior stakeholders
Operates effectively across multiple strategies and time horizons
8–10 years in credit strategy, multi-asset investing, or portfolio management
Strong modeling skills
Experience with data sources like Bloomberg, PitchBook, etc.
Ability to quickly learn internal systems

Nice To Haves

Experience across public and private credit markets preferred

Responsibilities

Develop a framework for expected returns, risks, and betas across credit markets
Form views on spreads, defaults, liquidity, and structural premia
Identify relative value across segments, capital structures, and geographies
Ensure consistency of views across mandates
Translate views into portfolio positioning, sizing, and allocation tilts
Help drive strategic and tactical asset allocation decisions
Contribute to scenario analysis, stress testing
Link credit with rates, equities, and real assets
Incorporate inputs from macro and ensure consistency of assumptions across growth, inflation, policy, and liquidity
Translate macro views into coherent credit implications within a unified framework
Partner with macro and equity strategists to refine, challenge, and deepen cross-asset views
Identify inconsistencies across asset classes and surface implications for positioning
Maintain a continuous view of markets and internal portfolio exposures
Surface emerging risks (liquidity, spreads, concentration) and opportunities
Ensure alignment between top-down views and actual positioning
Provide timely recommendations to adjust exposures
Support key structural themes impacting credit markets
Translate themes into portfolio actions and risk frameworks
Provide independent synthesis and challenge across the platform
Deliver clear, decision-oriented outputs for IC and senior leadership
Present allocation views, relative value insights, and risk assessments
Drive debate and alignment on portfolio positioning