Senior Analyst, Real Estate Credit, Liberty Mutual Investments

Liberty Mutual Fire Insurance Co.; Boston (MA); On-site; USD 90,000 - 140,000; Full time

Job summary

Liberty Mutual Investments seeks a Senior Analyst to join the Real Estate Credit team. You will support sourcing, underwriting, execution, and monitoring of CRE credit investments, working with senior professionals on live transactions from initial screening to investment committee approval.

You will gain broad exposure to deal work across property types, geographies, and structures, taking on meaningful responsibility early in the process.

Qualifications

• Bachelor's degree in Finance, Economics, Real Estate, Accounting, or a related field; CFA or master's a plus.
• 2-4+ years in real estate investment banking or real estate private equity with underwriting/transaction exposure.
• Advanced Excel financial modeling skills.
• Strong written and verbal communication; sound credit judgment; attention to detail; manage multiple transactions; work independently.
• Demonstrates strong AI literacy and uses AI-enabled tools with governance.

Responsibilities

• Build and maintain detailed cash flow models for CRE loans and properties, incl. sensitivity and downside scenarios.
• Conduct property, market, sponsor due diligence, incl. rent rolls, operating statements, appraisals, third-party reports, market comps.
• Prepare investment memoranda and presentations outlining thesis, risks, mitigants, and proposed structure.
• Support structuring and negotiation of loan terms and documentation with senior team and counsel.
• Track performance of existing investments, monitor covenants and market conditions, flag risks.

Skills

Advanced Excel modeling

AI literacy

Written & verbal communication

Credit judgment

Attention to detail

Multitasking

Independent work

Education

Bachelor's degree in Finance Economics Real Estate or Accounting

Job description

Liberty Mutual Investments (LMI) is the investment firm for Liberty Mutual Group (Liberty) and is responsible for powering Liberty's strategy amid profound change in global capital markets. With deep expertise in fixed income, equity, and alternative strategies, LMI invests $120+ billion ( as of 12/31/2025 ) of capital globally, taking a long-term approach across its integrated platform and has a team of over 350 investment, finance, and operations professionals located in Boston, MA, and New York, NY.

The Company:

LMI has a clear purpose: build enduring businesses side-by-side with our partners, drive economic growth, and generate superior risk-adjusted returns that power Liberty's strategy and secure its promises. We offer the best of both worlds - the look and feel of a boutique investment firm with the reputation and financial strength of a global leader. As the investment firm of a mutual with long-term capital, LMI has a single client mandate. This gives us the freedom to focus on what we do best.

Our portfolio spans a broad spectrum of public and private investments, and we are committed to expanding our capabilities and our toolkit in support of our mission. We invest across diverse asset classes, financial structures, and industries, including real estate, digital infrastructure, healthcare, renewable energy, and technology-with the aim of creating value and powering innovation. We pride ourselves on our extensive network of mutually beneficial partnerships, and we use our substantial influence, capital, and energy to drive towards a better future. #LMI #LI-LMI

The Position:

We are seeking a Senior Analyst to join the Real Estate Credit investment team. In this role, you will support the sourcing, underwriting, execution, and monitoring of commercial real estate (CRE) credit investments, working closely with senior investment professionals on live transactions from initial screening through investment committee approval and ongoing portfolio management. You will gain broad exposure to deal work across property types, geographies, and structures.

This role offers the opportunity to invest long-term capital on behalf of a single client, giving the team the flexibility to evaluate opportunities on their merits and take a long-term view. As a Senior Analyst, you will take on meaningful deal responsibility early, own key parts of the underwriting process, and have direct visibility into how investment decisions are made.

Responsibilities:

• Build and maintain detailed cash flow models for CRE loans and underlying properties, including sensitivity and downside scenario analysis, to evaluate credit risk and relative value.
• Conduct property, market, and sponsor due diligence, including review of rent rolls, operating statements, appraisals, third-party reports, and market comparables.
• Prepare investment memoranda and presentations that clearly articulate the investment thesis, key risks and mitigants, and proposed structure.
• Support the structuring and negotiation of loan terms and documentation alongside senior team members, legal counsel, and internal partners.
• Track the performance of existing investments, monitor covenant compliance and market conditions, and proactively flag emerging risks to the team.

Qualifications

• Bachelor's degree in Finance, Economics, Real Estate, Accounting, or a related field; progress toward the CFA or a master's degree a plus.
• 2-4+ years of experience in real estate investment banking, or real estate private equity, with direct exposure to underwriting and transaction execution.
• Advanced Excel financial modeling skills
• Strong written and verbal communication skills; sound credit judgment and strong attention to detail; ability to manage multiple transactions simultaneously and work independently; demonstrated interest in real estate credit markets.
• Demonstrates strong AI literacy and uses AI-enabled tools to enhance speed, accuracy, and insight generation while maintaining sound judgment and compliance with governance standards

About Us

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 ben