Global Head of Asset Management Compensation

Principal Financial Group•Des Moines, IA

9d•Hybrid

About The Position

We’re looking for a Head of Global Asset Management Compensation to join our Total Rewards team. In this role, you'll lead the strategy, design, governance, implementation, and ongoing effectiveness of global compensation programs for Principal Asset Management, with accountability for investment, international pension, and sales/distribution. This person will serve as the senior compensation advisor to our asset management business, ensuring programs are competitive, aligned with business strategy and priorities, financially responsible, operationally sound, and compliant. This person will also lead and develop a high-performing team that delivers trusted counsel and integrated compensation solutions across base pay, annual and long-term incentives, profit sharing, sales compensation, equity, deferred cash, co-investment, and carried interest, with flexibility as needed. You’ll have the opportunity to: Lead the design, implementation, and evaluation of compensation programs for investment, international pension, and distribution roles, including base pay, annual and long-term incentives, profit sharing, sales compensation, stock, deferred cash, co-investment, and carried interest. Partner with Asset Management and Finance leaders on profit share pool allocation and ensure performance measures, payout mechanics, eligibility, and risk features reinforce intended business outcomes. Set and maintain an integrated Asset Management compensation strategy aligned with business priorities, investment and distribution talent markets, performance expectations, and the enterprise Total Rewards philosophy. Advise business leaders including executives, and HR leaders on complex and sensitive compensation decisions, organizational changes, external market dynamics, and talent risks. Develop and present recommendations to senior management and governing committees. Establish governance, decision rights, documentation standards, and controls across the Asset Management compensation portfolio. Partner with HR, Finance, Risk, Law, Compliance, and U.S. and non-U.S. advisors on incentive plan design and administration, risk assessments, applicable requirements, and emerging risks or control gaps. Provide leadership for annual compensation reviews, incentive planning, market and structure reviews, budgeting, recommendations, implementation, and communications. Ensure complex program changes are delivered through disciplined project management, stakeholder readiness, testing, documentation, and post-implementation review. Build, lead, and develop a high-performing team with investment, distribution, technical, consulting, and analytical capabilities. Set priorities and service standards, allocate work based on business value and risk, coach team members, and build scalable tools and knowledge-sharing practices that improve quality, consistency, speed, and resilience. Maintain relationships with compensation consultants, industry peers, and market data providers to anticipate market and regulatory developments. Represent Human Resources and the company on relevant committees and forums, contribute to the broader Total Rewards agenda, and when possible, promote alignment across compensation programs and business units. 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 or equivalent experience required
Typically 10 or more years of progressively responsible compensation or Total Rewards experience, including meaningful leadership experience and demonstrated knowledge of the asset management industry
Demonstrated expertise in investment and/or distribution compensation, incentive design, equity or stock programs, market pricing, job evaluation, and compensation governance
Experience advising executive leadership and presenting complex analysis and recommendations to senior management or governing committees
Strong business and financial acumen, including the ability to understand investment and distribution economics, incentive accruals, risk tradeoffs, and talent implications
Proven leadership, consulting, analytical, problem-solving, decision-making, negotiation, influence, communication, and project management capabilities
Ability to operate effectively across functions, geographies, and levels; manage confidential matters; and partner with legal and compliance experts on applicable wage and hour, incentive compensation, regulatory, and compliance requirements

Nice To Haves

Advanced degree preferred
Certified Compensation Professional (CCP) designation preferred

Responsibilities

Lead the design, implementation, and evaluation of compensation programs for investment, international pension, and distribution roles, including base pay, annual and long-term incentives, profit sharing, sales compensation, stock, deferred cash, co-investment, and carried interest.
Partner with Asset Management and Finance leaders on profit share pool allocation and ensure performance measures, payout mechanics, eligibility, and risk features reinforce intended business outcomes.
Set and maintain an integrated Asset Management compensation strategy aligned with business priorities, investment and distribution talent markets, performance expectations, and the enterprise Total Rewards philosophy.
Advise business leaders including executives, and HR leaders on complex and sensitive compensation decisions, organizational changes, external market dynamics, and talent risks.
Develop and present recommendations to senior management and governing committees.
Establish governance, decision rights, documentation standards, and controls across the Asset Management compensation portfolio.
Partner with HR, Finance, Risk, Law, Compliance, and U.S. and non-U.S. advisors on incentive plan design and administration, risk assessments, applicable requirements, and emerging risks or control gaps.
Provide leadership for annual compensation reviews, incentive planning, market and structure reviews, budgeting, recommendations, implementation, and communications.
Ensure complex program changes are delivered through disciplined project management, stakeholder readiness, testing, documentation, and post-implementation review.
Build, lead, and develop a high-performing team with investment, distribution, technical, consulting, and analytical capabilities.
Set priorities and service standards, allocate work based on business value and risk, coach team members, and build scalable tools and knowledge-sharing practices that improve quality, consistency, speed, and resilience.
Maintain relationships with compensation consultants, industry peers, and market data providers to anticipate market and regulatory developments.
Represent Human Resources and the company on relevant committees and forums, contribute to the broader Total Rewards agenda, and when possible, promote alignment across compensation programs and business units.