Associate Director, Investment Operations

at Principal Financial Group in Chicago, Illinois, United States

Job Description

What You’ll Do

We’re looking for an Associate Director, Investment Operations to join our Middle Market Direct Lending team. In this role, you’ll work with front and back-office team members to provide financial and operational support to portfolio management, underwriting and origination, and operations teams to aid in the management of portfolios!

+ Portfolio Oversite: monitor daily activity and portfolio compliance, streamline and own key business processes, run and analyze portfolio models, oversee leverage provider relationships, and execute special projects

+ Client Service: be a point of contact for client relationships by assisting with on-boarding, lead quarterly reporting, coordinate RFP responses, along with numerous other ad hoc client requests

+ Compliance: coordinate with Compliance, CFO, and Head of Operations to ensure all requirements are met through the use of systems and a streamlined process

+ Loan Servicing: own loan servicing and settlements between the front, back office, and legal, and administrators

Operating at the intersection of financial services and technology, Principal builds financial tools that help our customers live better lives. We take pride in being a purpose-led firm, motivated by our mission to make financial security accessible to all. Our mission, integrity, and customer focus have made us a trusted leader for more than 140 years!

Principal Asset Management offers global asset management expertise across a diverse set of traditional and alternative asset classes. Check us out at www.principalam.com!

The Middle Market Direct Lending strategy invests in privately negotiated debt transactions, primarily in North America, to support leveraged buyouts, refinancings and recapitalizations. Investments include first lien, unitranche, second lien, and mezzanine loans. Principal targets investment opportunities across a broad range of industries including healthcare, commercial & professional services, consumer products & services, software & technology and business services for both sponsored and non-sponsored deals.

Who You Are

+ You have a Bachelor’s degree in finance, accounting, business analytics, data science or investment related degree or equivalent work experience.

+ 5+ years experience in the middle/front office or agency space in the private credit space

+ Knowledge of financial markets and fixed income strategies, including general knowledge of bond mechanics and pricing calculations

+ Deep understanding of the private market direct lending environment

+ Understanding of basic accounting principles, ability to interpret financial statements, and efficiently and effectively research, compile and analyze information

Skills That Will Help You Stand Out

+ Self-driven and motivated with a keen sense of curiosity and open-minded thought process

+ Sound judgment, critical thinking and problem-solving skills

+ Familiarity with big data techniques, Excel/Power BI, Allvue preferred

+ Collaborative, able to build and maintain strong relationships, manage expectations, attend to details, work independently, multi-task and prioritize effectively

+ Ability to work in a fast-paced, ever-changing, work environment

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 (Non-Exempt expressed as hourly; Exempt expressed as yearly)

$106400 – $182400 / 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(s)

This role can be based out of either Des Moines, Chicago, or New York City.

Work Environments

This role offers the ability for in-office or hybrid (blending both office and remote work in a typical workweek) work arrangements. 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 applicants 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.

Nonimmigrant Workers (https://www.uscis.gov/working-in-the-united-states/temporary-nonimmigrant-workers) and Green Card for Employment-Based Immigrants (https://www.uscis.gov/green-card/green-card-eligibility/green-card-for-employment-based-immigrants)

Investment Code of Ethics

For Principal Asset Management 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

At Principal, we value connecting on both a personal and professional level. Together, we’re imagining a more purpose-led future for financial services – and that starts with you. Our success depends on the unique experiences, backgrounds, and talents of our employees. And we support our employees the same way we support our customers: with comprehensive, competitive benefit offerings crafted to protect their physical, financial, and social well-being. Check out our careers site (https://www.principal.com/about-us/careers) to learn more about our purpose, values and benefits.

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.

Original Posting Date

7/16/2024

Most Recently Posted Date

7/16/2024

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