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Principal Fixed Income Trader – Investment Grade in Des Moines, Iowa

As a Fixed Income Trader, you’ll be responsible for maximizing client portfolio performance through trading, including day-to-day buying and selling of securities for portfolios/client accounts. You’ll conduct research and analysis on companies/industries to maintain knowledge of relative value of assets, provide portfolio managers and analysts insights into market activity.

  • Identify, analyze and execute relative value trades (electronic & over the counter). Determine best combination of negotiated price, size and service to buy and sell transactions within Best Execution guidelines established by portfolio managers, senior traders, firm and/or client. Analyze and model trade ideas/ transactions, monitor open positions to determine what to let expire and what to exercise, and ensure trades are properly (completely/accurately) documented. Efficiently execute trade activities to ensure appropriate balance of best execution and market-imposed time constraints for each trade.

  • Conduct research and analysis on companies/industries to maintain knowledge of relative value of assets, aid analysts and portfolio managers with making informed investment decisions (provide insights into market activity) and to develop trading strategies; recommend ideas and solutions as appropriate.

  • Maintain knowledge of financial markets, current events, and global/U.S. economies and monitor industry and competitive environment. Proactively develop and foster positive relationships with industry contacts (e.g. Wall Street traders, brokers) to ensure constant flow of relevant information; utilize relationships to obtain best price, new issues allocations, research and other brokerage services.

  • Identify and suggest ideas to improve processes and reporting systems. Work with IT partners to strategically evolve systems, tools and processes to enhance workflow, functionality and analysis across the trading platform.

  • Perform other job-related duties and special projects as required.

We’re looking for someone with:

  • Bachelor’s degree required, emphasis in finance, economics or accounting.

  • MBA and or CFA designation preferred.

  • 3+ years of related experience with significant experience in trading, credit analysis, and portfolio management.

  • Solid understanding of financial accounting and economic theory, global financial markets, fixed income products and trading strategies.

  • Ability influence and negotiate, apply reasoning, and exhibit sound decision making related to best execution and market-imposed time constraints with each trade.

  • Must be comfortable taking positions and educated risks.

  • Excellent abilities in the areas of communication (verbal and written), time management, analytics, financial modeling, and influencing.

  • Proficiency with Microsoft Excel and Bloomberg.

  • Collaborative, able to build and maintain strong relationships, manage expectations, attend to details, multi-task and prioritize effectively.

  • Ability to effectively and professionally communicate with internal and external contacts and make decisions quickly and effectively in a highly competitive environment with incomplete information is critical.

  • Keen sense of curiosity and open-minded thought process desired.

  • This position may be subject to SEC restrictions on personal political contributions

Preferred skills:

  • Familiarity with programming languages (ie, Python, MATLAB, R)


Our Corporate Headquarters is located in Des Moines, IA, with offices throughout the globe. We are open to remote across the country.

Work Authorization/Sponsorship

At this time, we're not considering candidates that need any type of immigration sponsorship now or in the future or those needing work authorization for this role. (This includes, but is not limited to students on F1-OPT, F1-CPT, J-1, etc.)

Investment Code of Ethics

For Principal Global Investors positions, you’ll need to follow an Investment Code of Ethics related to personal and business conduct as well as personal trading activities for you and members of your household. These same requirements may also apply to other positions across the organization.

Experience Principal

While our expertise spans the globe, we're bound by one common purpose: to foster a world where financial security is accessible to all. And our success depends on the unique experiences, backgrounds, and talents of our employees – individually and all of us together. Explore our core values, benefits and why we’re an exceptional place to grow your career.

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.

Requisition ID: 2021-29568

Enterprise Segment: PGI

Business Area: PGI Fixed Income

External Company Name: Principal Financial Group

Street: 801 Grand Ave

Remote: Yes

FLSA Status: Exempt