Senior Analyst, Alternatives (HYBRID)

At Selective, we don't just insure uniquely, we employ uniqueness.

Selective is a midsized U.S. domestic property and casualty insurance company with a history of strong, consistent financial performance for nearly 100 years. Selective's unique position as both a leading insurance group and an employer of choice is recognized in a wide variety of awards and honors, including listing in Forbes Best Midsize Employers in 2025 and certification as a Great Place to Work® in 2025 for the sixth consecutive year.

Employees are empowered and encouraged to Be Uniquely You by being their true, unique selves and contributing their diverse talents, experiences, and perspectives to our shared success. Together, we are a high-performing team working to serve our customers responsibly by helping to mitigate loss, keep them safe, and restore their lives and businesses after an insured loss occurs.

The Senior Analyst, Alternatives, will support the VP, Head of Alternatives in managing the firm’s alternatives portfolio, including private market fund commitments, secondary investments, and other structured investments across private equity, private credit, and real assets. This role spans front, middle, and back-office functions. It is designed to provide leverage to senior team members by taking ownership of key responsibilities across sourcing, diligence, onboarding, monitoring, and reporting. The Senior Analyst, Alternatives, will also provide analytical, operational, and reporting support to the broader investment function, contributing to manager oversight, asset allocation, risk management, and investment operations. The ideal candidate is analytical, detail-oriented, and proactive, with a strong foundation in private markets and a desire to grow within a collaborative investment environment.  This is a hybrid work role based in Farmington, CT.

• Source and Evaluate Investment Opportunities – Meet with asset managers, either independently or with others, and take diligence notes, assess fit for the portfolio, and maintain a forward-looking pipeline in the CRM system. Share insights from external private markets managers that would be relevant to the total portfolio.
• Assist in Investment Diligence and Memo Preparation – Support the evaluation of new investment opportunities by conducting strategy-level and manager-level diligence and contributing to the preparation of investment recommendation memos.
• Lead New Manager Onboarding – Coordinate across legal, finance, and tax teams to ensure timely closings and accurate documentation for new investments. This includes completing subscription documents, responding to KYC requests, and updating internal systems with the addition of a new fund.
• Monitor Portfolio Performance and Manager Reporting – Rigorously monitor, track and report on current alternative manager exposures, including analyzing alternative portfolio performance, attribution, risk trends, peer benchmarking, and the underlying risk characteristics of the portfolio. Organize and participate in meetings with current managers to review strategy, portfolio positioning, and performance.
• Maintain Investment Records and Internal Systems – Maintain up-to-date information on mandates, managers, and investments in internal databases and third-party systems.
• Reporting – Produce quarterly investment updates and develop and maintain manager scorecards using qualitative and quantitative analysis. Monitor commitment pacing, NAV, and risk limits against approved targets and policy guidelines. 
• Coordinate Cash Flow Operations – Manage capital calls, distribution notices, and other fund-related documentation, ensuring timely execution and communication with internal stakeholders.
• Respond to Internal Portfolio Requests – Address ad-hoc inquiries from internal stakeholders—including finance, tax, and the broader investment team, related to the LP portfolio. 
• Provide broader suport to the investment function, including (i) supporting operations, reporting, and analysis on the overall investment portfolio, (ii) collaborating on portfolio construction, investments monitoring, and risk management across asset classes within the overall portfolio, (iii) conducting research projects, and (iv) sharing economic and market insights to help guide portfolio decision-making.
• Maintain working knowledge of developments in the investment industry, including new products, accounting standards, and regulations.  Monitor investment and economic environment for market/portfolio opportunities and risks.

Knowledge and Requirements

Strong investment acumen skills, including:
• Strong analytical and problem-solving skills, and attention to detail and process.
• Experience in investment manager sourcing, due diligence, selection and oversight.
• Proficiency in Microsoft Office.
• Proficiency in MSCI/Burgiss Private i is helpful.  
• Investment experience within an insurance company is a plus.
 
Excellent interpersonal and communication skills (oral and written), including:
• Strong verbal and written presentation skills are essential.
• Conducting asset manager interviews and diligence, managing managers, and cultivating relationships.
• Networking within the investment community.
• Writing investment recommendation reports and memos.
• Team oriented and an ability to work as an integral part of a team.  Collaborate with investment team members and other internal departments, including Accounting, Enterprise Risk, Legal, Tax and Treasury.

Modest travel requirements to meet current and prospective managers/fund sponsors and attend investment conferences.
• Expected travel time is 15-20%.
• Position is based in Farmington, CT.

Education and Experience

• Bachelor’s degree is required.
• CFA and/or CAIA designation is preferred. 
• 5+ years of investment experience.
• Experience allocating capital to private markets.

Selective Insurance offers a total rewards package that includes a competitive base salary, incentive plan eligibility at all levels, and a wide array of benefits designed to help you and your family stay healthy, achieve your financial goals, and balance the demands of your work and personal life. These benefits include comprehensive health care plans, retirement savings plan with company match, discounted Employee Stock Purchase Program, tuition assistance and reimbursement programs, and 20 days of paid time off. Additional details about our total rewards package can be found by visiting our benefits page.

The actual base salary is based on geographic location, and the range is representative of salaries for this role throughout Selective's footprint. Additional considerations include relevant education, qualifications, experience, skills, performance, and business needs.

Selective is an Equal Employment Opportunity employer. That means we respect and value every individual’s unique opinions, beliefs, abilities, and perspectives. We are committed to promoting a welcoming culture that celebrates diverse talent, individual identity, different points of view and experiences – and empowers employees to contribute new ideas that support our continued and growing success. Building a highly engaged team is one of our core strategic imperatives, which we believe is enhanced by diversity, equity, and inclusion. We expect and encourage all employees and all of our business partners to embrace, practice, and monitor the attitudes, values, and goals of acceptance; address biases; and foster diversity of viewpoints and opinions.

For Massachusetts Applicants

It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.