Associate Director, Underwriter - Direct Lending Team

What You'll Do:

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  Risk Assessment & Credit Structuring: Evaluate credit clients, industry trends, and transactions to identify key risks. Develop forward-looking risk assessments, negotiate loan agreements, and recommend appropriate credit structures.
• Credit Approval & Investment Analysis: Prepare and present credit approval materials, ensuring compliance with risk policies. Structure financing solutions and negotiate key terms as part of a deal team.
• Portfolio Management & Risk Monitoring: Continuously assess and manage risk across an assigned portfolio. Monitor industry shifts, financial trends, and borrower performance to proactively mitigate risks.
• Stakeholder Engagement: Collaborate with private equity sponsors, lenders, and internal teams. Support marketing, RFPs, and client presentations while serving as a key representative in meetings.
• Leadership & Development: May provide mentorship and guidance to junior team members, contributing to team growth and expertise.

Who You Are:

• Bachelor's degree in a technical field (i.e. finance, accounting, economics, statistics, engineering, data science, business analytics).
• 6+ years of experience in all facets of Direct Lending Underwriting, including underwriting, research and portfolio management in the middle market.
• Background in corporate credit underwriting at a major commercial bank or credit manager, or transaction experience at a middle-market investment bank or financial advisory firm.
• Strong analytical skills to assess credit, risk, and valuation with sound decision-making abilities.
• Excellent communication and writing skills to simplify complex financial concepts for internal and external stakeholders.
• Ability to work collaboratively in a fast-paced, high-stakes environment with limited information.
• Professional presence with the ability to engage and present to key stakeholders, including private equity sponsors and investment committees.
• Willingness to travel as needed.

• Experience with Leveraged Buyout (LBO) models.
• MBA, CFA designation or progress towards.
• Restructuring and/or private equity experience.

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: $157000 - $213000 / year Salary Details: Time Off Program: 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. Pension Eligible: No Additional Information:

Work Authorization/Sponsorship

Investment Code of Ethics

Experience Principal

Principal is an Equal Opportunity Employer

Posting Window: We will accept applications for 3 full days following the Original Posting Date, after which the posting may remain open or be removed based upon applications received. If we choose to post the job again, we will accept additional applications for at least 1 full day following the Most Recently Posted Date. Please submit applications in a timely manner as there is no guarantee the posting will be available beyond the applicable deadline. Date First Posted (TTF): 3/18/2026 Latest Post Date: Careers - US: 3/19/2026