Product Owner II, Insurance Investment Accounting, Liberty Mutual Investments

Description
The Company:

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.

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:

Liberty Mutual Investments (LMI) is seeking a  Product Owner II to support its Accounting Product, with responsibility for investment accounting and regulatory and financial reporting capabilities across multiple reporting frameworks, including statutory (National Association of Insurance Commissioners, NAIC), GAAP, and TAX. The role will focus on enhancing and maintaining accounting and reporting capabilities within LMI's investment accounting platform, SimCorp Dimension, and its related data and reporting processes, with an emphasis on the end-to-end processes and upstream data that produce reported figures, including quarterly and annual statutory investment schedules. This position reports to the Accounting Portfolio Product Owner within Financial Products and Global Investment Solutions (GIS).

Operating at the intersection of Investment Accounting, Finance, Technology, Data, Investment Product, and the platform vendor, the Product Owner will translate business, accounting, and regulatory requirements into actionable product priorities and drive the delivery of technology solutions that enable accurate, timely, and reliable financial and regulatory reporting. The role will own the Accounting Product backlog and proactively partner with Agile delivery teams, other Product Owners, and SimCorp Dimension's Regulatory Center of Excellence (REGCOE) to deliver solutions aligned with business priorities and regulatory commitments.

This role requires strong business acumen, technical fluency, sound judgment, and a proactive approach: anticipating regulatory and accounting changes, setting and communicating timelines, and aligning dependencies early. The Product Owner will collaborate with business partners and senior leadership to strengthen data quality and controls, improve reporting processes, reduce operational risk, and deliver measurable business outcomes.

The Responsibilities:

Product Strategy, Prioritization & Delivery

- Partner with the Accounting Portfolio Product Owner and stakeholders to shape and execute the Accounting Product roadmap across reporting frameworks (statutory/NAIC, GAAP, and TAX), ensuring alignment with broader product strategy and regulatory requirements.
- Own and prioritize the Accounting Product backlog, balancing business value, regulatory deadlines, strategic enhancements, technical improvements, and production support, and serve as the point of coordination for all accounting- and reporting-related changes across product backlogs.
- Translate business, accounting, and regulatory requirements into actionable user stories with clear acceptance criteria.
- Proactively collaborate with other Product Owners, SimCorp Dimension's REGCOE, and technology and data teams to anticipate dependencies, remove impediments before they affect delivery, and drive outcomes.
- Set clear deadlines and handoff dates for each deliverable and maintain visibility of partner teams' commitments and deadlines so that dependencies, sequencing, and critical-path risks are managed in advance.
- Lead Agile delivery activities, including backlog refinement, sprint planning, demonstrations, and coordination of development, testing, business validation, and production implementation.
- Evaluate business value, feasibility, and regulatory risk to make informed prioritization decisions and ensure timely delivery of high-quality solutions.

Regulatory & Accounting Change Management

- Proactively monitor regulatory, statutory accounting, and reporting framework changes (e.g., NAIC updates), as well as SimCorp REGCOE releases and roadmap items, and assess their impact on systems, data flows, and downstream processes ahead of effective dates.
- Translate upcoming changes into backlog items with defined timelines, owners, and testing and validation plans, and communicate impacts, priorities, and risks to stakeholders and senior leadership early.
- Assess the impact of new investment types and reporting requirements across statutory, GAAP, and TAX bases, including basis differences (such as the statutory-to-GAAP "stat gap") and their effect on reporting content and downstream processes.
- Apply working knowledge of investment accounting, investment operations, and the upstream data that feeds reporting (trade capture and settlement, security master and reference data, pricing and valuation sources, custodian and counterparty data, and corporate actions) to evaluate how upstream changes affect reporting accuracy and timing.

Collaboration & Stakeholder Engagement

- Internal (LMI): Partner with Investment Reporting, Operations, Investment Product, Data Product, Technology and other Financial Product teams to deliver accurate, complete, and timely financial and regulatory reporting.
- Liberty Mutual Group (LMG): Coordinate with LMG Corporate Accounting, Finance, TAX, and other group functions that depend on LMI's accounting and reporting outputs, aligning on requirements, calendars, and priorities.
- Vendors: Work with SimCorp, implementation partners, and other platform and data vendors to manage releases, defects, enhancements, and delivery commitments.
- Regulators and external parties: Support engagement with regulators, auditors, and advisors as needed, and ensure reporting changes and regulatory requirements are understood and addressed ahead of deadlines.
- Serve as the primary point of contact for Accounting Product stakeholders, building strong relationships, facilitating decisions, and communicating priorities, progress, and risks to stakeholders and senior leadership.
- Proactively identify and resolve reporting issues, data quality concerns, and cross-team dependencies, escalating risks as appropriate to protect critical reporting timelines.

Data Quality, Risk & Continuous Improvement

- Work closely with Data Product and Investment Product, alongside Accounting, Finance, and Technology stakeholders, to define data requirements, ownership, and quality standards for the data that feeds accounting and reporting.
- Strengthen data integrity, reporting accuracy, and regulatory compliance through effective data validation, reconciliation, and operational controls, identifying and addressing data quality gaps at the source.
- Drive process improvements and leverage automation, including AI-enabled capabilities, to reduce manual effort, improve reporting efficiency, and mitigate operational risk.
- Balance delivery of new capabilities with platform stability, ongoing production support, and evolving regulatory and data governance requirements.
- Define and monitor product-level KPIs to measure reporting timeliness, data quality, operational efficiency, and delivery outcomes.

Qualifications
- Bachelor's degree in Finance, Accounting, Business, Technology, or a related field, or equivalent professional experience.
- 5+ years of experience in business, technology, financial services, or consulting, including 3+ years working with Agile teams in a Product Owner, Business Analyst, or similar role.
- Working knowledge of investment accounting and financial and regulatory reporting frameworks, including statutory accounting principles (SAP) and NAIC investment reporting, GAAP, and TAX, including basis differences between them.
- Demonstrated experience managing product backlogs, translating complex business and technical requirements into actionable user stories, and delivering technology or data-driven solutions.
- Strong analytical, problem-solving, and decision-making skills, with the ability to evaluate business processes, data dependencies, risks, and competing priorities.
- Excellent communication and collaboration skills, with demonstrated ability to influence cross-functional teams, external partners, and senior stakeholders
- Proven ability to proactively plan and independently drive complex initiatives from requirements through implementation, set and meet deadlines, manage dependencies, and deliver business value in a deadline-driven environment.
- 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

Preferred Qualifications:

- Experience in insurance or asset management, with familiarity with investment instruments and accounting processes.
- Experience with SimCorp Dimension or comparable investment accounting platforms such as Blackrock Aladdin, Eagle STAR, State Street Alpha, Charles River, Princeton Financial System, Clearwater, FIS, SS&C Advent Geneva
- Data management and regulatory reporting capabilities, and multi-basis (statutory, GAAP, and TAX) accounting.
- Experience working with data and investment product teams on data quality, reference data, and data governance.
- Familiarity with Agile tools (e.g., Jira, Confluence), reporting automation, and emerging technologies, including AI-enabled solutions.
About Us
Pay Philosophy: The typical starting salary range for this role is determined by a 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.

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