Market Product Leader - REITs

The Asset Owners product team builds and evolves Clearwater Analytics' solutions for asset owners — including pension funds, corporations, REITs, foundations, and other institutional investors managing their own portfolios.

Role Summary We're looking for a Market Product Leader to own Clearwater's point of view, product direction, and growth plan for the REIT market. This role is accountable for defining and sizing the market, segmenting it by buying behavior, naming the job each segment is trying to get done and the gap between that job and what Clearwater does today, and converting that analysis into a funded roadmap and a go-to-market playbook.

REITs span a wide range of balance sheets — from equity REITs running corporate treasury and debt programs to mortgage REITs running leveraged securities portfolios with derivatives and repo financing — and a central part of this role is deciding where Clearwater plays across that range. This role partners closely with R&D/Engineering, GTM/Sales, Marketing, Client Services, and Finance, and sits alongside the Market Product Leaders for Corporate Treasury, Pensions, and Endowments, Funds & Trusts.

This role owns the commercial outcome for REITs and is measured on ACV growth, win rate, and retention in the market.

Key Responsibilities Market Point of View
• Define the REIT market in plain terms and size it — total addressable market, serviceable addressable market, and the share Clearwater has already captured — with every number sourced and the basis for each estimate stated.
• Segment the market by buying behavior rather than by label, covering listed equity REITs, mortgage REITs, non-traded and private REITs, and real estate operating partnerships and fund structures.
• Be explicit about where the buying behavior diverges most — an equity REIT buying cash, debt, and short-term investment capability is a different buyer from a mortgage REIT buying securities accounting, hedge accounting, and financing support.
• Score each segment on attractiveness and on Clearwater's right to win, and make an explicit call to prioritize, hold, or deprioritize.
• Keep the point of view current as a living document, and be clear at all times about what is validated, what is estimated, and what is still open.

Product Strategy & Roadmap
• Translate the capability gaps identified in the point of view into a prioritized, sequenced product roadmap for the market.
• Partner with R&D/Engineering leads to size the work, confirm capacity, and agree sequencing before commitments are made externally.
• Make and defend build, buy, or partner recommendations, including the business case behind each.
• Identify capability bets that serve REITs and one or more other asset owner markets — debt servicing, hedge accounting, and financing workflows are the obvious candidates — and work with peer Market Product Leaders so those are built once.
• Represent client and market context in solutioning discussions so trade-offs are made with full information.

Domain Requirements
• Own the accounting and reporting requirements that shape buying in this market, including GAAP and tax-basis reporting, the REIT distribution and income tests, Nareit-aligned FFO and AFFO reporting, and SEC reporting for listed and non-traded filers.
• Own the requirements that come with leveraged and hedged balance sheets, including agency and non-agency securitized products, repo and warehouse financing, TBA positions, and interest rate hedging under ASC 815.
• Own the corporate-side requirements shared with treasury buyers, including operating cash and liquidity, short-term investment portfolios, credit facilities, and debt servicing.
• Work with Engineering on what has to be true in the data model and the accounting…