Associate Director, Underwriter - Direct Lending Team
Apply NowCompany: Principal Financial Group Inc
Location: Des Moines, IA 50317
Description:
What You'll Do
Principal Alternative Credit (Direct Lending) launched in 2020 and is rapidly growing, achieving a record-breaking year in 2024. Our success is driven by the unique experiences, backgrounds, and talents of our employees - individually and all of us together.
As an Associate Director, Underwriter Direct Lending, you'll be the primary credit risk manager for a portfolio of middle-market clients, you'll work closely with originators and underwriters to assess risk, structure deals, and manage ongoing credit relationships. Your key responsibilities include:
This role offers the opportunity to work on complex deals, engage with top industry players, and play a critical role in managing risk within a dynamic lending platform.
Who You Are
We're looking for someone with:
Skills that will help you stand out:
This position may be subject to SEC restrictions on personal political contributions.
Salary Range Information
Salary ranges below reflect targeted base salaries. Non-sales positions have the opportunity to participate in a bonus program. Sales positions are eligible for sales incentives, and in some instances a bonus plan, whereby total compensation may far exceed base salary depending on individual performance. Actual compensation for all roles will be based upon geographic location, work experience, education, licensure requirements and/or skill level and will be finalized at the time of offer.
Salary Range
$153000 - $207000 / year
Time Off Program
Flexible Time Off (FTO) is provided to salaried (exempt) employees and provides the opportunity to take time away from the office with pay for vacation, personal or short-term illness. Employees don't accrue a bank of time off under FTO and there is no set number of days provided.
Pension Eligible
No
Additional Information
Location
We're open to considering talent in the Chicago, Des Moines and New York area.
Work Environments
This role offers the ability for in-office or four days in-office and one day remote. You'll work with your leader to figure out which option may align best based on several factors.
Work Authorization/Sponsorship
At this time, we're not considering candidates that need any type of immigration sponsorship (additional work authorization or permanent work authorization) now or in the future to work in the United States? This includes, but IS NOT LIMITED TO: F1-OPT, F1-CPT, H-1B, TN, L-1, J-1, etc. For additional information around work authorization needs please use the following links.
https://www.uscis.gov/working-in-the-united-states/temporary-nonimmigrant-workers and https://www.uscis.gov/green-card/green-card-eligibility/green-card-for-employment-based-immigrants
Investment Code of Ethics
For Principal Global Investors positions, you'll need to follow an Investment Code of Ethics related to personal and business conduct as well as personal trading activities for you and members of your household. These same requirements may also apply to other positions across the organization.
Experience Principal
While our expertise spans the globe, we're bound by one common purpose: to foster a world where financial security is accessible to all. And our success depends on the unique experiences, backgrounds, and talents of our employees - individually and all of us together. Explore our core values, benefits and why we're an exceptional place to grow your career.
Principal is an Equal Opportunity Employer
All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status.
Posting Window
We will accept applications for 3 full days following the Original Posting Date, after which the posting may remain open or be removed based upon applications received. If we choose to post the job again, we will accept additional applications for at least 1 full day following the Most Recently Posted Date. Please submit applications in a timely manner as there is no guarantee the posting will be available beyond the applicable deadline.
Date First Posted (TTF)
3/31/2025
Latest Post Date: Careers - US
3/31/2025
LinkedIn Hashtag
#LI-LT1
Principal Alternative Credit (Direct Lending) launched in 2020 and is rapidly growing, achieving a record-breaking year in 2024. Our success is driven by the unique experiences, backgrounds, and talents of our employees - individually and all of us together.
As an Associate Director, Underwriter Direct Lending, you'll be the primary credit risk manager for a portfolio of middle-market clients, you'll work closely with originators and underwriters to assess risk, structure deals, and manage ongoing credit relationships. Your key responsibilities include:
- Risk Assessment & Credit Structuring: Evaluate credit clients, industry trends, and transactions to identify key risks. Develop forward-looking risk assessments, negotiate loan agreements, and recommend appropriate credit structures.
- Credit Approval & Investment Analysis: Prepare and present credit approval materials, ensuring compliance with risk policies. Structure financing solutions and negotiate key terms as part of a deal team.
- Portfolio Management & Risk Monitoring: Continuously assess and manage risk across an assigned portfolio. Monitor industry shifts, financial trends, and borrower performance to proactively mitigate risks.
- Stakeholder Engagement: Collaborate with private equity sponsors, lenders, and internal teams. Support marketing, RFPs, and client presentations while serving as a key representative in meetings.
- Leadership & Development: May provide mentorship and guidance to junior team members, contributing to team growth and expertise.
This role offers the opportunity to work on complex deals, engage with top industry players, and play a critical role in managing risk within a dynamic lending platform.
Who You Are
We're looking for someone with:
- Bachelor's degree in a technical field (i.e. finance, accounting, economics, statistics, engineering, data science, business analytics)
- 6+ years of experience in all facets of Direct Lending Underwriting, including underwriting, research and portfolio management in the middle market.
- Background in corporate credit underwriting at a major commercial bank or credit manager, or transaction experience at a middle-market investment bank or financial advisory firm.
- Strong analytical skills to assess credit, risk, and valuation with sound decision-making abilities.
- Excellent communication and writing skills to simplify complex financial concepts for internal and external stakeholders.
- Ability to work collaboratively in a fast-paced, high-stakes environment with limited information.
- Professional presence with the ability to engage and present to key stakeholders, including private equity sponsors and investment committees.
- Willingness to travel as needed.
Skills that will help you stand out:
- Experience with Leveraged Buyout (LBO) models.
- MBA, CFA designation or progress towards.
- Restructuring and/or private equity experience.
This position may be subject to SEC restrictions on personal political contributions.
Salary Range Information
Salary ranges below reflect targeted base salaries. Non-sales positions have the opportunity to participate in a bonus program. Sales positions are eligible for sales incentives, and in some instances a bonus plan, whereby total compensation may far exceed base salary depending on individual performance. Actual compensation for all roles will be based upon geographic location, work experience, education, licensure requirements and/or skill level and will be finalized at the time of offer.
Salary Range
$153000 - $207000 / year
Time Off Program
Flexible Time Off (FTO) is provided to salaried (exempt) employees and provides the opportunity to take time away from the office with pay for vacation, personal or short-term illness. Employees don't accrue a bank of time off under FTO and there is no set number of days provided.
Pension Eligible
No
Additional Information
Location
We're open to considering talent in the Chicago, Des Moines and New York area.
Work Environments
This role offers the ability for in-office or four days in-office and one day remote. You'll work with your leader to figure out which option may align best based on several factors.
Work Authorization/Sponsorship
At this time, we're not considering candidates that need any type of immigration sponsorship (additional work authorization or permanent work authorization) now or in the future to work in the United States? This includes, but IS NOT LIMITED TO: F1-OPT, F1-CPT, H-1B, TN, L-1, J-1, etc. For additional information around work authorization needs please use the following links.
https://www.uscis.gov/working-in-the-united-states/temporary-nonimmigrant-workers and https://www.uscis.gov/green-card/green-card-eligibility/green-card-for-employment-based-immigrants
Investment Code of Ethics
For Principal Global Investors positions, you'll need to follow an Investment Code of Ethics related to personal and business conduct as well as personal trading activities for you and members of your household. These same requirements may also apply to other positions across the organization.
Experience Principal
While our expertise spans the globe, we're bound by one common purpose: to foster a world where financial security is accessible to all. And our success depends on the unique experiences, backgrounds, and talents of our employees - individually and all of us together. Explore our core values, benefits and why we're an exceptional place to grow your career.
Principal is an Equal Opportunity Employer
All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status.
Posting Window
We will accept applications for 3 full days following the Original Posting Date, after which the posting may remain open or be removed based upon applications received. If we choose to post the job again, we will accept additional applications for at least 1 full day following the Most Recently Posted Date. Please submit applications in a timely manner as there is no guarantee the posting will be available beyond the applicable deadline.
Date First Posted (TTF)
3/31/2025
Latest Post Date: Careers - US
3/31/2025
LinkedIn Hashtag
#LI-LT1