Director, Private Credit - Asset-Backed Finance (ABF)

Principal Financial GroupDes Moines, IA
35d$179,000 - $243,000Hybrid

About The Position

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. 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.

Requirements

  • 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
  • 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

Nice To Haves

  • 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

Responsibilities

  • 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

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.
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