Direct Lending Credit Analyst; Hybrid

What You'll Do

Principal Alternative Credit is the direct lending arm of Principal Asset Management, providing flexible financing solutions to sponsor‑backed and non‑sponsored middle‑market companies. Since launching in 2020, the platform has scaled rapidly, deploying capital across leveraged buyouts, refinancings, recapitalizations, and growth investments.

• Coaching and mentorship from senior team members committed to your long‑term development
• Ongoing training and opportunities to build new skills and take on increased responsibility
• Access to tools and resources that enable you to work efficiently and effectively
• Opportunities to expand your network through volunteering, targeted events, and strategic introductions

• Conduct due diligence including company and industry research, financial analysis, and cash flow modeling to assess creditworthiness
• Support preparation of credit memos and present recommendations to the investment committee
• Partner with stakeholders including sponsors, management teams, bankers, and internal teams
• Monitor portfolio performance and compliance with credit agreements and internal policies
• Ensure portfolio data is accurate, timely, and complete for reporting purposes
• Collaborate with team members to support deal execution and ongoing business initiatives

• Bachelor’s degree in finance, accounting, economics, or a related field (minimum 3.50 GPA)
• Ability to analyze financial statements, evaluate data, and formulate conclusions; familiarity with leveraged buyout modeling
• Proficient in Excel, Microsoft Word, and Power Point

• Previous experience with Bloomberg preferred
• Knowledge of private credit/direct lending and fixed income strategies, including general knowledge of bond mechanics and pricing calculations is preferred
• Familiarity with database structures, big data techniques (e.g., Cassandra, Spark, Hadoop), and programming languages (e.g., Python, MATLAB, R) a plus
• Previous internship in finance preferred

Non‑exempt positions: $89,300 – $152,400 per year (hourly rates reflect the yearly equivalent). Exempt positions: $93,800 – $152,400 per year.

Location‑specific ranges:

• Des Moines, IA: $89,300 – $120,650 per year
• Chicago, IL: $103,400 – $139,700 per year
• New York, NY: $112,800 – $152,400 per year

Flexible Time Off (FTO) is provided to salaried (exempt) employees and offers paid vacation, personal or short‑term illness days. Employees do not accrue a bank of time off under FTO; there is no set number of days.

Open to in‑office or hybrid talent. Hybrid options include Chicago, Des Moines, or New York City. Candidates will work with their leader to determine the most appropriate arrangement.

At this time, we are not considering applicants who require immigration sponsorship (F1‑OPT, F1‑CPT, H‑1B, TN, L‑1, J‑1, etc.) now or in the future to work in the United States.

Principal is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status.