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

Job Locations US-MA-Boston | US-NY-New York
ID
2026-75679
Position Type
Full-Time
Flexible Time Off Annual Accrual - days
20

Description

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

Qualifications

  • 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

About Us

number of factors including skills, experience, education, certifications and location. The full salary range for this role reflects the competitive labor market value for all employees in these positions across the national market and provides an opportunity to progress as employees grow and develop within the role. Some roles at Liberty Mutual have a corresponding compensation plan which may include commission and/or bonus earnings at rates that vary based on multiple factors set forth in the compensation plan for the role.

 

At Liberty Mutual, our goal is to create a workplace where everyone feels valued, supported, and can thrive. We build an environment that welcomes a wide range of perspectives and experiences, with inclusion embedded in every aspect of our culture and reflected in everyday interactions. This comes to life through comprehensive benefits, workplace flexibility, professional development opportunities, and a host of opportunities provided through our Employee Resource Groups. Each employee plays a role in creating our inclusive culture, which supports every individual to do their best work. Together, we cultivate a community where everyone can make a meaningful impact for our business, our customers, and the communities we serve.

 

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://www.libertymutualgroup.com/about-lm/careers/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. 
 
Fair Chance Notices 

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