What You'll Do
We're seeking a Director, Private Credit - Asset-Backed Finance (ABF) to play a senior role within our Investment Grade Private Credit platform. This individual will be a key contributor to the execution, structuring, and ongoing management of investment-grade private asset-backed finance investments across a broad range of industries and asset @types.
This role is execution-focused, not origination-driven. You'll be responsible for implementing sourced opportunities into capital-efficient, regulatory-aligned structured investments, including ABS, ABL, ABF, CLO, and other structured credit strategies-primarily for insurance and long-duration capital.
Additional Responsibilities:
You will work across both new and existing transactions spanning sectors such as fund finance, consumer and commercial ABF, mortgage and CRE, and emerging esoteric asset classes.
Key responsibilities include:
Leading due diligence and credit underwriting for structured private credit transactions
Building and reviewing cash flow models and performing structured finance analytics
Conducting relative value analysis across asset classes and structures
Reviewing and negotiating legal documentation and deal structures
Preparing and presenting investment recommendations to Investment and Transaction Committees
Overseeing ongoing portfolio monitoring and risk management
Ensuring investments align with credit policy, regulatory, and capital requirements
Partnering across internal teams (credit, legal, actuarial, risk, capital management) to develop innovative financing solutions
Building and maintaining relationships with external counterparties to support structured investment execution
About Principal Asset Management ?
Principal Asset Management is the global investment solutions business for Principal Financial Group®?(Nasdaq: PFG), managing $579.8 billion in assets and recognized as a "Best Places to Work in Money Management"?for 13 consecutive years.?
Who You Are
You're a structured credit investor who combines strong technical skill with sound judgment and a genuine curiosity about markets and risk.
Experience & Background
Bachelor's degree in Finance, Accounting, Economics, Engineering, or another quantitative field. MBA and/or CFA preferred
8+ years of experience in asset-backed finance, structured credit, or private credit, with a strong focus on execution and structuring.
Demonstrated experience structuring and evaluating private structured investments for insurance balance sheets or other long-duration capital
Advanced expertise in cash-flow modeling, structured finance analytics, and credit documentation
Strong understanding of insurance regulatory capital, ratings considerations, and ALM principles
Experience within an insurance-owned asset manager, insurer investment team, or structured credit platform
Preferred Qualifications
Direct experience working with general account portfolios
Familiarity with both rated and unrated private ABF structures
Exposure to enterprise risk, actuarial, or capital management frameworks
Experience supporting third-party insurance or institutional client mandates
How You Work
Passionate about investing, with strong intellectual curiosity around credit and markets
Clear, confident communicator who can explain complex structures and risks simply
Disciplined decision-maker with strong judgment in credit, valuation, and risk
Self-starter who thrives working independently while contributing to a team environment
Highly organized and able to manage multiple transactions and deadlines
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)
$179000 - $243000 / 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
Location(s)
We're open to considering in-office or hybrid talent. The preferred location is to work out of our World Headquarters located in Des Moines, IA. We will also consider talent in Charlotte, Chicago, Denver or New York City.
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
1/30/2026
Most Recently Posted Date
1/30/2026
