Assistant Director-Investment Accounting (Consolidated Accounting)

Principal Financial Group•Des Moines, IA

1d•$141,000 - $191,000•Hybrid

About The Position

We are looking for an Assistant Director- Investment Accounting (Consolidated Accounting) to join our Investment Accounting-ACA Team. You’ll be responsible for delivering complex accounting and reporting tasks for advanced investment strategies and asset classes. You will work closely with portfolio managers, investment operations, risk, compliance, tax, internal/external auditors, and technology teams to ensure robust reporting and control practices. Investment Accounting & Financial Reporting Perform and review complex investment accounting activities, including trade capture, income accruals, valuation, impairments, consolidations, and advanced hedging for diverse asset types including equities, fixed income, structured products, private placements, private asset funds, alternatives, and derivatives Prepare and review monthly, quarterly, and annual reports, internal management reporting (e.g., quarterly results, board materials, earnings call preparation), and external reporting requirements (e.g., SEC and other regulatory filings, including international filings) Ensure compliance with U.S. GAAP, client mandates, internal policies, and regulatory guidance, acting as a subject matter expert rather than managing a team Provide expert consultation to portfolio management teams on accounting implications of sophisticated investment strategies and transactions Manage cash management proposals and maintain vendor relationships independently Consolidated Accounting Prepare and review consolidated financial statements and related disclosures in accordance with U.S. GAAP, including consolidation of investment entities, variable interest entities (VIEs), and other complex structures as applicable Execute and review consolidation entries, including intercompany eliminations, equity method adjustments, noncontrolling interest, and roll forwards to support period-end close Partner with Investment Accounting Policy, Tax, Legal Entity Controllers, and Reporting Teams to support legal entity and management consolidations, ensuring alignment of source data, ownership structures, and accounting conclusions Maintain and enhance consolidation processes, controls, and documentation, including reconciliations between sub-ledgers, general ledger, and consolidation tools Project Management & System Implementation Serve as a senior subject matter expert for accounting on key firmwide initiatives including new product launches, platform migrations, and system enhancements, contributing individually without leading project teams Collaborate with technology and data teams to help develop automated solutions for reporting efficiency and accuracy, focusing on individual contributions rather than managing others Compliance, Controls, and Risk Management Lead enhancement of internal control framework for investment accounting and reporting processes Design and execute sophisticated risk mitigation strategies, including documentation and remediation of control deficiencies Manage complex audit relationships and oversee comprehensive documentation preparation Cross-Functional Collaboration & Business Support Serve as senior technical advisor between accounting and other key teams Provide expert technical guidance on accounting impacts of complex investment vehicles, restructures, impairments, and valuation adjustments Lead complex analysis and scenario modeling for investment performance and risk assessment Continuous Improvement & Strategic Insight Evaluate and implement changes in accounting standards and regulations Drive process improvement initiatives and innovation within area of expertise 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!

Requirements

Bachelor’s degree in Accounting, Finance, or related field; Master’s degree or advanced certification preferred
8+ years of comprehensive accounting experience in asset management or financial services
Expert-level knowledge of investment products and strategies, including complex structured securities, private credit, hedge funds, and derivatives
Extensive experience with investment accounting systems
Advanced Excel skills and expert proficiency with reporting/analytics tools
Outstanding technical and communication abilities
Proven track record of driving process improvements and managing complex projects
This position may require successful completion of a criminal background check

Responsibilities

Perform and review complex investment accounting activities, including trade capture, income accruals, valuation, impairments, consolidations, and advanced hedging for diverse asset types including equities, fixed income, structured products, private placements, private asset funds, alternatives, and derivatives
Prepare and review monthly, quarterly, and annual reports, internal management reporting (e.g., quarterly results, board materials, earnings call preparation), and external reporting requirements (e.g., SEC and other regulatory filings, including international filings)
Ensure compliance with U.S. GAAP, client mandates, internal policies, and regulatory guidance, acting as a subject matter expert rather than managing a team
Provide expert consultation to portfolio management teams on accounting implications of sophisticated investment strategies and transactions
Manage cash management proposals and maintain vendor relationships independently
Prepare and review consolidated financial statements and related disclosures in accordance with U.S. GAAP, including consolidation of investment entities, variable interest entities (VIEs), and other complex structures as applicable
Execute and review consolidation entries, including intercompany eliminations, equity method adjustments, noncontrolling interest, and roll forwards to support period-end close
Partner with Investment Accounting Policy, Tax, Legal Entity Controllers, and Reporting Teams to support legal entity and management consolidations, ensuring alignment of source data, ownership structures, and accounting conclusions
Maintain and enhance consolidation processes, controls, and documentation, including reconciliations between sub-ledgers, general ledger, and consolidation tools
Serve as a senior subject matter expert for accounting on key firmwide initiatives including new product launches, platform migrations, and system enhancements, contributing individually without leading project teams
Collaborate with technology and data teams to help develop automated solutions for reporting efficiency and accuracy, focusing on individual contributions rather than managing others
Lead enhancement of internal control framework for investment accounting and reporting processes
Design and execute sophisticated risk mitigation strategies, including documentation and remediation of control deficiencies
Manage complex audit relationships and oversee comprehensive documentation preparation
Serve as senior technical advisor between accounting and other key teams
Provide expert technical guidance on accounting impacts of complex investment vehicles, restructures, impairments, and valuation adjustments
Lead complex analysis and scenario modeling for investment performance and risk assessment
Evaluate and implement changes in accounting standards and regulations
Drive process improvement initiatives and innovation within area of expertise

Benefits

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

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