The Alternative Capital & Enterprise Strategy leader is accountable for defining, advancing, and executing the enterprise alternative capital strategy in support of Liberty Mutual’s broader capital management, risk financing, Global Risk Solutions, and enterprise financial objectives.

This role owns the strategic framework for evaluating alternative capital opportunities within the broader risk financing framework. The individual will define how third-party capital, structured reinsurance, insurance-linked securities, collateralized solutions, sidecars, legacy solutions, reserve solutions, and other capital markets structures can improve capital efficiency, reduce earnings volatility, diversify sources of capacity, optimize TBV growth within income volatility guardrails, and support targeted growth in priority portfolios.

The role requires a proactive, enterprise-minded leader who can translate market developments into actionable risk financing strategies. The individual will be expected to act decisively where market conditions are favorable, build flexibility where uncertainty persists, and identify opportunities to use alternative capital to improve downside protection, manage the cycle, enhance capital efficiency, and support enterprise growth.

This is both an external market-facing and internal enterprise leadership role. The leader will represent Liberty Mutual with investors, capital markets partners, brokers, reinsurers, banks, and other counterparties, while also driving alignment across Finance, Reinsurance, Actuarial, Underwriting, Claims, Investments, Legal, Tax, Accounting, Treasury, and business unit leadership.

Key Responsibilities:

• Own the enterprise alternative capital strategy, ensuring alignment with the broader risk financing framework, capital management priorities, income volatility guardrails, risk appetite, rating agency considerations, and long-term enterprise growth objectives.
• Define the strategic framework for evaluating alternative capital opportunities, including cost of capital, capital efficiency, TBV impact, volatility reduction, downside protection, counterparty diversification, execution feasibility, accounting, tax, regulatory, rating agency, and enterprise risk implications.

• Develop and maintain an enterprise prioritization framework for alternative capital opportunities based on economic attractiveness, strategic impact, ability to execute, investor appetite, alignment with enterprise priorities, and contribution to profitable growth.
• Identify and originate strategic opportunities across alternative capital markets, including insurance-linked securities, collateralized reinsurance, sidecars, structured quota shares, adverse development covers, loss portfolio transfers, reserve sidecars, capital relief solutions, portfolio facilities, and other third-party capital structures.
• Segment alternative capital opportunities across key use cases, including mandatory tail risk protection, critical income volatility management, opportunistic cycle management, capital efficiency, balance sheet optimization, growth enablement, and portfolio expansion.
• Own the enterprise point of view on alternative capital opportunities by translating analysis into cost of capital implications, rating agency impact, TBV impact, volatility outcomes, strategic trade-offs, recommendations, and decision points for executive leadership.
• Set the external market engagement strategy with brokers, reinsurers, investors, banks, capital markets participants, and other counterparties to expand access to capital, create competitive tension, improve pricing and terms, and strengthen Liberty Mutual’s market position.
• Drive risk financing strategies that support targeted growth, including structures that enable larger line sizes, support priority portfolios, recycle capital, monetize underwriting expertise, generate fee income, and manage earnings volatility.
• Lead executive-level decision processes by framing options, clarifying trade-offs, escalating risks, driving timely decisions, and ensuring accountability for outcomes.
• Establish governance and performance measurement for alternative capital initiatives, including transaction economics, capital impact, TBV impact, earnings volatility impact, risk transfer effectiveness, execution risk, counterparty exposure, and post-placement performance.
• Serve as the enterprise thought leader on alternative capital market trends, investor appetite, pricing dynamics, capacity, emerging structures, competitor activity, regulatory developments, and implications for Liberty Mutual’s risk financing strategy.
• Build and lead a high-performing team, setting expectations for strategic thinking, analytical quality, proactive communication, responsiveness, ownership, market connectivity, and enterprise orientation.

Required:

• Significant experience in alternative capital, investment banking, reinsurance, insurance-linked securities, structured risk transfer, capital markets, corporate finance, risk financing, or insurance enterprise risk management.
• Demonstrated ability to own and lead complex enterprise initiatives from strategy development through prioritization, recommendation, approval, execution, and performance measurement.
• Deep understanding of reinsurance structures, third-party capital, insurance risk transfer, capital optimization, risk financing, and enterprise financial drivers.
• Strong ability to evaluate opportunities through cost of capital, capital efficiency, TBV impact, earnings volatility, downside protection, rating agency, accounting, regulatory, tax, legal, and enterprise risk lenses.
• Proven ability to synthesize complex analysis into executive-level recommendations, including clear implications, trade-offs, and decision points.
• Strong executive communication skills, including the ability to frame decisions, articulate trade-offs, influence senior stakeholders, and drive alignment.
• Established market relationships with brokers, reinsurers, investors, banks, capital markets participants, or other alternative capital counterparties.
• Ability to operate with ambiguity, create structure, drive accountability, and deliver measurable outcomes.
• Strong people leadership skills, including coaching, prioritization, talent development, and performance management.

Preferred:

• Experience leading or materially shaping insurance-linked securities, collateralized reinsurance, sidecar, structured quota share, loss portfolio transfer, adverse development cover, reserve sidecar, portfolio facility, or other alternative capital transactions.
• Experience advising or influencing senior leadership on capital management, risk financing, reinsurance, volatility, enterprise risk, or strategic financial decisions.
• Experience evaluating opportunities based on economic attractiveness, strategic impact, investor appetite, execution feasibility, and alignment with enterprise growth priorities.
• Advanced degree, CFA, CPA, actuarial credential, CPCU, ARM, or equivalent professional experience preferred.
• Broad understanding of P&C insurance, underwriting portfolios, catastrophe risk, casualty risk, reserving, capital modeling, reinsurance economics, and rating agency capital frameworks.