Sr. Director, Portfolio Accounting And Corporate Actions

What You'll Do
As the Sr. Director, Portfolio Accounting and Corporate Actions within Principal Asset Manager, you'll oversee the Portfolio Accounting team currently based in Des Moines and London with the intent to also support Asian portfolios with the Asian based operations team. Reconciliations are performed in Pune and Hyderabad.
The middle office provides the IBOR for mutual fund accounts, commingled trusts, and institutional separate accounts. But also supports the stable value, OCIO, LDI and SMA business. Accordingly, asset allocation and cash management/forecasting are a critical part of the operation. Fund accounting for US products is internalized and performed in Des Moines by a separate operation while being outsourced for all other domiciles.
Today we operate using the Eagle accounting system with one cycle. It is a key priority of the business to move to a multi cycle model. The Principal Asset Management business is multi-strategy with a relatively complex operation for its size supporting all product types (i.e. listed and bilateral derivatives, bank loans, equity and fixed income products) and strategies.
Here are a few key initiatives on the docket for 2024 including:

• Completion of the internalization of certain operations that are currently outsourced today with the goal of being internalized by Q1 2024.
• Standardization and normalization of the cash forecasting process.
• Evaluation and replacement of the accounting platform for the stable value business.
• Testing and implementation of regional IBOR cycles.

Other things you'll do:

• IBOR maintenance and update
• Cash posting and forecasting
• Corporate action voting and posting
• Reconciliation oversight and management
• Process and procedure design and documentation for the global functions owned.
• Work with the respective technology partner(s) on system design and enhancement prioritization.
• Owns the global control environment for the functions, e.g. SOC 1 design and execution.
• Global Organizational design for the function.
• Manage and decides global rationalization, e.g., offshoring and functional centers of excellence.
• Design processes and controls, as required for new product and strategy delivery.
• Design, track and report capacity and volume metrics for the various Functions owned.
• Design, track and report unit costing for the functions owned.

Who You Are

• Bachelor's degree in accounting or equivalent.
• 15+ years in asset management operations experience, with at least 10 years in investment accounting.
• Product knowledge of derivatives, fixed income, and equities with an understanding of bank loans and stable value is highly preferred.
• Portfolio Accounting experience specifically in the middle office
• Strong written and verbal communication skills.
• Ability to participate in industry forums.
• Knowledge of Eagle or other accounting systems
• Willingness to travel up to 25%

Salary Range Information
Salary ranges below reflect targeted base salaries. Non-sales positions have the opportunity to participate in a bonus program. Sales positions are eligible for sales incentives, and in some instances a bonus plan, whereby total compensation may far exceed base salary depending on individual performance. Actual compensation for all roles will be based upon geographic location, work experience, education, licensure requirements and/or skill level and will be finalized at the time of offer.
Salary Range (Non-Exempt expressed as hourly; Exempt expressed as yearly)
$205000 - $277000 / year
Additional Information
Location(s) / Work Environments
We're open to considering remote and hybrid talent. Locations for hybrid talent will be in our global headquarters located in Des Moines, IA.
Work Authorization/Sponsorship
At this time, we're not considering applicants 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.
Nonimmigrant Workers and Green Card for Employment-Based Immigrants
Investment Code of Ethics
For Principal Asset Management 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
At Principal, we value connecting on both a personal and professional level. Together, we're imagining a more purpose-led future for financial services - and that starts with you. Our success depends on the unique experiences, backgrounds, and talents of our employees. And we support our employees the same way we support our customers: with comprehensive, competitive benefit offerings crafted to protect their physical, financial, and social well-being. Check out our careers site to learn more about our purpose, values and benefits.
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.
Posting Window
We will be accepting applications for at least 3 days from when the job was originally posted, after which we may keep open or remove the posting based upon applications we receive. Please submit applications in a timely manner as there is no guarantee the posting will be available beyond 3 days of the original posting date.
Original Posting Date
11/28/2023
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