Director, Private Credit - Asset-Backed Finance (ABF)
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. 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.
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
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What This Job Offers
Job Type
Full-time
Career Level
Director
