Director - Asset Allocation, Portfolio Construction

FM; Boston (MA); On-site; USD 120,000 - 160,000; Full time

Benefits offered by this job

Comprehensive Total Rewards program

Generous health and well-being programs

401(k) and pension plan

Career development opportunities

Tuition reimbursement

Job summary

FM, a leading mutual insurance company, is seeking a Director – Asset Allocation to support its investment research and portfolio analysis. The role requires 7-10 years of experience in financial markets and a solid understanding of multiple asset classes.

The position offers a full-time opportunity in Boston's Financial District, where the selected candidate will monitor market trends, analyze portfolio structures, and collaborate across teams. FM provides a comprehensive rewards program including health benefits and a 401(k).

Qualifications

• 7 to 10 years of experience in trading, portfolio management, or risk management.
• Experience investing across multiple asset classes.

Responsibilities

• Monitor markets and conduct research for portfolio positioning.
• Analyze portfolio structure and evaluate potential allocation impacts.
• Build and maintain cross-asset models.
• Support risk management and reporting guidelines.

Skills

Analytical skills

Quantitative skills

Bloomberg/FactSet experience

Communication skills

Programming in Python

Job description

Established nearly two centuries ago, FM is a leading mutual insurance company whose capital, scientific research capability and engineering expertise are solely dedicated to property risk management and the resilience of its policyholder-owners. These owners, who share the belief that the majority of property loss is preventable, represent many of the world’s largest organizations, including one of every four Fortune 500 companies. They work with FM to better understand the hazards that can impact their business continuity to make cost-effective risk management decisions, combining property loss prevention with insurance protection.

Summary

The Director – Asset Allocation, Portfolio Construction will support the asset allocation team’s investment research, portfolio analysis, and decision-making process across a globally diversified multi-asset portfolio. These asset classes include global public equities, global fixed income, multi-assets, private and liquid alternatives. The role will help in generating insights that inform asset allocation, portfolio construction, market positioning, risk management, and performance evaluation.

Working closely with mid-level and senior investment leaders and members of the asset allocation team, this individual will contribute to both tactical asset allocation and also strategic asset allocation efforts. On the tactical side, the role will contribute to market research and tactical positioning, including the development of models and frameworks to assess the near-term attractiveness of major asset classes and conducting cross‑asset and relative value analysis to inform internal investment views.

In parallel, the role will also support strategic asset allocation studies, including the development and maintenance of models used to generate capital market assumptions, as well as the application of quantitative frameworks to portfolio construction and design.

The role also contributes to ongoing portfolio oversight, including monitoring and interpreting portfolio‑level and asset‑class exposures and risks across key entities. Responsibilities extend to supporting investment policy development and governance, as well as enhancing the team’s analytics infrastructure and tools. This is a very exciting and intellectually challenging role operating at intersection of quantitative finance, asset allocation, capital markets and macroeconomics.

Schedule and Location

This is a full‑time office‑based position in Boston MA - Financial District.

Responsibilities

• Monitor markets, conduct research to help generate views on positioning, active risks and relative value across major asset classes and sub‑asset classes.
• Analyze portfolio structure, including exposures, risk allocation, diversification, liquidity, performance drivers, and evaluate the impact of potential allocation changes and portfolio tilts on overall portfolio outcomes.
• Build and maintain cross‑asset and relative value models to inform near‑term portfolio positioning.
• Develop and maintain capital market assumptions and assist with quantitative portfolio construction, optimization and scenario analysis.
• Help evaluate new asset classes, investment strategies, implementation vehicles, and research topics that support asset allocation objectives.
• Monitor active risk and asset allocation exposure across entities; identity deviations and recommend adjustments where appropriate.
• Support risk management and reporting requirements related to regulatory and rating agency frameworks and contribute to stress testing, scenario analysis and downside risk assessment.
• Partner with investment, operations, and accounting teams on cash/liquidity management, portfolio implementation, and trade support across entities.
• Prepare portfolio reviews, market updates, investment reports, and ad‑hoc analyses for the investment team and senior stakeholders.

Qualifications

Required Work Experience

• 7 to 10 years of dynamic financial markets experience in a trading, portfolio management, markets research, or risk management role.
• Experience investing across asset classes, evaluating investments and market opportunities, portfolio‑level implications, and strategic or tactical allocation frameworks in a multi‑asset portfolio.

Highly Preferred Work Experience

• Experience with derivatives.

Required Skills

• Solid analytical and quantitative skills.
• Experience with Bloomberg and/or FactSet.
• Ability to communicate complex analysis clearly and concisely to investment colleagues and senior stakeholders.
• High attention to detail, strong work ethic, and intellectual curiosity.
• Collaborative mindset with the ability to work effectively across teams and functions.

Highly Preferred Skills

• Programming experience preferred, particularly in Python.

The final salary offer will vary based on individual education, skills, and experience. The position is eligible to participate in FM’s comprehensive Total Rewards program that includes an incentive plan, generous health and well‑being programs, a 401(k) and pension plan, career development opportunities, tuition reimbursement, flexible work, time off allowances and much more.

FM is an Equal Opportunity Employer and is committed to attracting, developing, and retaining a diverse workforce.