Analyst, Underwriter (Direct Lending)

Principal Alternative Credit is the direct lending arm of Principal Asset Management, providing flexible financing solutions to sponsor-backed and non-sponsored middle-market companies. Since launching in 2020, the platform has scaled rapidly, deploying capital across leveraged buyouts, refinancings, recapitalizations, and growth investments.  

We’ll help you build a successful career through: 

• Coaching and mentorship from senior team members committed to your long-term development 

• Ongoing training and opportunities to build new skills and take on increased responsibility 

• Access to tools and resources that enable you to work efficiently and effectively 

• Opportunities to expand your network through volunteering, targeted events, and strategic introductions  

As an Analyst, you will: 

• Conduct due diligence including company and industry research, financial analysis, and cash flow modeling to assess creditworthiness   

• Support preparation of credit memos and present recommendations to the investment committee   

• Partner with stakeholders including sponsors, management teams, bankers, and internal teams   

• Monitor portfolio performance and compliance with credit agreements and internal policies   

• Ensure portfolio data is accurate, timely, and complete for reporting purposes   

• Collaborate with team members to support deal execution and ongoing business initiatives 

• Bachelor's degree in finance, accounting, economics, or a related field (minimum of 3.50 GPA)
• Ability to analyze financial statements, evaluate data, and formulate conclusions; familiarity with leveraged buyout modeling 
• Proficient in Excel, Microsoft Word and PowerPoint

Skills That Will Help You Stand Out

• Previous experience with Bloomberg preferred
• Knowledge of private credit/direct lending and fixed income strategies, including general knowledge of bond mechanics and pricing calculations is preferred
• Familiarity with database structures, big data techniques (i.e. Cassandra, Spark and Hadoop), and programming languages (i.e. Python, MATLAB, R) a plus
• Previous internship in finance preferred

The following locations are examples of market-specific salary ranges across the 3 locations:

• Des Moines, IA: $89,300 - 120,650 / year
• Chicago, IL: $103,400 - $139,700 / year
• New York, NY: $112,800 - 152,400 / year

Location(s) 

We’re open to considering in-office or hybrid talent. Locations for hybrid talent Chicago, Des Moines, or New York City. You’ll work with your leader to figure out which option may align best based on several factors. You can check out what our Global Headquarters looks like here:

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 and 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 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.