High Yield Analyst

Principal Financial Group • Des Moines, IA

6h • Hybrid

About The Position

The Principal Global Fixed Income High Yield team is seeking an Analyst to conduct high yield and leveraged loan research and analysis on assigned companies/industries. This role involves developing financial models and providing research insights with detailed buy, sell, and hold recommendations to support portfolio managers in making informed investment decisions. Principal Asset Management, the global investment solutions business for Principal Financial Group®, manages approximately $580 billion in assets and boasts over 60 years of experience. The company has been recognized as a “Best Places to Work in Money Management” for 14 consecutive years.

Requirements

• Bachelor's degree in a technical field (ie finance, accounting, economics, statistics, engineering, data science, business analytics)
• At least one year of investment experience with an emphasis on research
• Solid understanding of financial accounting and economic theory, global financial markets and fixed income products
• Proficiency with Excel

Nice To Haves

• High yield and leveraged loan experience is preferred. Relevant experience in other fixed income asset classes is also helpful
• Experience with Bloomberg
• Progress towards CFA
• Applied use of AI tools in credit research and analysis
• Familiarity with database structures, big data techniques, and programming languages
• Strong analytical judgment related to credit risk and valuation
• Financial modeling experience related to corporate credit analysis

Responsibilities

• Independently perform fundamental credit analysis, assessing economic, competitive, sector, and political drivers of credit risk; maintain credit ratings, outlooks, and relative value assessments, and proactively communicate material developments to senior analysts and portfolio managers.
• Provide ongoing credit monitoring and reporting, including reviewing ongoing performance of companies under coverage including written and verbal updates, tracking covenant trends, escalating concerns related to deteriorating credit quality, and responding to basic inquiries from internal partners and clients.
• Build market and sector expertise by analyzing macroeconomic trends, industry dynamics, and competitive developments, identifying emerging risks and opportunities, contributing insights to portfolio managers and senior leadership, and maintaining relationships with external industry contacts.

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.
• Opportunity to participate in an annual profit share bonus program.
• Comprehensive, competitive benefit offerings crafted to protect physical, financial, and social well-being.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Number of Employees: 5,001-10,000 employees