Job Locations US-MA-Boston | US-NY-New York

ID

2026-75679

Position Type

Full-Time

Job Grade

63

Department

043D-10622 Global Strategy and Capital Allocation

Market

Liberty Mutual Investments (LMI)

Recruiter

Sarah Jackson

The Company

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.

Team Overview

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

Team structure:

• Head of Portfolio Strategy (integrates macro, equity, credit)
• Equity Strategist
• Macro / Economics Strategist
• Credit Strategist (this role)

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

Role Overview

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.

Responsibilities:

1) Credit Beta & Relative Value

• 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

2) Portfolio Construction & Asset Allocation

• 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

3) Macro & Cross-Asset Integration

• 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

4) Market & Portfolio Monitoring

• 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

5) Thematic Research

• Support key structural themes impacting credit markets
• Translate themes into portfolio actions and risk frameworks
• Provide independent synthesis and challenge across the platform

6) Communication & Decision Support

• 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

• Investment Judgment: High-conviction views on credit markets and cycles
• Analytical Rigor: Strong quantitative and portfolio construction skillset
• Cross-Asset Thinking: Ability to link credit with macro and other asset classes
• Market Awareness: Real-time tracking of markets and exposures
• Communication & Influence: Ability to shape decisions across senior stakeholders
• Execution: Operates effectively across multiple strategies and time horizons

Ideal Experience

• 8–10 years in credit strategy, multi-asset investing, or portfolio management
• Experience across public and private credit markets preferred
• Track record of translating views into portfolio outcomes

Technical Proficiency

• Strong modeling skills
• Experience with data sources like Bloomberg, PitchBook, etc.
• Ability to quickly learn internal systems

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