Principal Underwriting Analyst / Associate Underwriter – Direct Lending in Des Moines, Iowa
The Middle Market Direct Lending strategy offers investors access to privately negotiated debt investment transactions, primarily in North America, to support leveraged buyouts, refinancing and recapitalizations. Investments include senior, unitranche and second lien loans and mezzanine notes. Principal targets investment opportunities across a broad range of industries including healthcare, industrials, consumer products, software and business services.
Our Direct Lending team is seeking an Underwriting Analyst to assist in the due diligence, credit underwriting, execution, and portfolio monitoring of private debt investments.
Other types of things you’ll do as an Underwriting Analyst:
Assist underwriting team in evaluation of new transactions and investment opportunities, aid in the development of detailed financial models and sensitivity analyses of borrowers and provide analytical support for investment committee materials.
Work with assigned Underwriter and/or Sr. Underwriter on all transactions.
Evaluate new transactions and investment opportunities, attend management presentations, review deal terms and credit agreements.
Prepare written investment committee memorandum and presentations.
Assist with development of detailed financial models and sensitivity analyses to assess performance scenarios and capital structure alternatives.
Provide responses to basic inquiries from back office, origination, and marketing. Actively monitor portfolio company performance and report concerns related to underwriter/senior underwriter.
Participate in key areas of due diligence, including business and quantitative analysis as well as industry and competitive research.
We’re looking for something with:
Bachelor's degree in a technical field (i.e. finance, accounting, economics, statistics, engineering, data science, business analytics).
Highly motivated and intellectually curious and open-minded individuals with strong financial modeling, valuation and accounting skills.
Excellent interpersonal, verbal and written communication skills.
Time management, analytics and use of Excel required.
Collaborative, able to build and maintain strong relationships, manage expectations, attend to details, multi-task and prioritize effectively.
Experience or internships in investment banking, leveraged finance, private debt or equity, and/or related transactional experience.
Ability to construct financial models such as three statement financial models and Leveraged Buyout models.
Undergraduate GPA of 3.5 or above and progress towards CFA.
Knowledge of financial markets and fixed income strategies, including general knowledge of bond mechanics and pricing calculations.
This position may be subject to SEC restrictions on personal political contributions.
Qualifications are listed for the Underwriting Analyst level. We’ll consider talent at the next level, Associate Underwriter, based on skills and experience.
We’re open to considering talent in the Chicago, Des Moines and New York area.
At this time, we're not considering candidates that need any type of immigration sponsorship (additional work authorization or permanent work authorization) now or in the future to work in the United States? This includes, but IS NOT LIMITED TO: F1-OPT, F1-CPT, H-1B, TN, L-1, J-1, etc. For additional information around work authorization needs please use the following links.
https://www.uscis.gov/working-in-the-united-states/temporary-nonimmigrant-workers and https://www.uscis.gov/green-card/green-card-eligibility/green-card-for-employment-based-immigrants
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.
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: 2021-30882
Enterprise Segment: PGI
Business Area: PGI Fixed Income
External Company Name: Principal Financial Group
Street: 711 High Street
FLSA Status: Exempt