Loud song conceals liberal talent (5)
I believe the answer is:
flair
'talent' is the definition.
(I know that flair is a type of talent)
'loud song conceals liberal' is the wordplay.
'loud' becomes 'f' (short for forte - 'loud' in music).
'song' becomes 'air' (air can mean a piece of music).
'conceals' is an insertion indicator.
'liberal' becomes 'l' (abbreviation).
'f'+'air'='fair'
'fair' enclosing 'l' is 'FLAIR'.
(Other definitions for flair that I've seen before include "Elan; panache" , "Natural talent or panache" , "Taste" , "Stylishness, originality" , "Stylishness; talent" .)