Asset-Liability Manager - Principal Bank

Principal Financial Group seeks an Asset-Liability Manager for its Principal Bank team in Des Moines, IA. This role involves overseeing the bank's ALM framework, managing liquidity and interest rate risks, and ensuring regulatory compliance. Responsibilities include leading ALM strategy, conducting stress testing, and collaborating with senior leadership across various departments. Candidates should have a relevant degree, extensive experience in asset-liability management, and strong analytical and leadership skills.
What You'll Do

We’re looking for an Asset- Liability Manager to join our Principal Bank team. In this role, you’ll be responsible for overseeing and managing Principal Bank’s ALM framework. This includes prudent balance sheet management, liquidity risk oversight, interest rate risk management, and capital planning. The role is critical to aligning the Bank’s financial strategy with its risk appetite and business objectives. The individual will work closely with senior leadership and key partners across Investment, Treasury, Risk, and Finance to optimize asset and liability strategies while ensuring compliance with regulatory requirements and industry best practices. In this role, you will do the following:
• Asset-Liability Management & Risk Oversight
• Lead the Bank’s ALM strategy to optimize balance sheet performance while managing interest rate risk, liquidity risk, and capital adequacy.
• Oversee ALM modeling and stress testing to evaluate the impact of economic scenarios on the Bank’s financial position.
• Ensure effective management of liquidity reserves, funding sources, and the Contingency Funding Plan.
• Monitor economic, market, and regulatory developments to adjust ALM strategies as needed.
• Interest Rate Risk & Liquidity Management
• Oversee the interest rate risk framework, including Earnings-at-Risk (EaR) and Economic Value of Equity (EVE) assessments.
• Optimize funding strategies, deposit pricing, and asset allocation to support balance sheet performance.
• Enhance analytical tools and reporting capabilities for interest rate and liquidity risk management.
• Regulatory Compliance & Governance
• Ensure compliance with all applicable regulations related to ALM, liquidity risk, model risk, and capital planning.
• Lead the Asset-Liability Committee (ALCO) and fulfill its charter responsibilities.
• Maintain strong governance of ALM models, assumptions, and risk measurement frameworks.
• Collaboration & Leadership
• Partner with teams across Risk, Finance, Treasury, and Investment to align ALM strategies with business goals.
• Provide strategic recommendations to senior management on balance sheet positioning and risk mitigation.
• Promote a culture of analytical rigor and strategic risk management.
• Serve as a key contact with regulators, auditors, and the Board regarding ALM risks.

Operating at the intersection of financial services and technology, Principal builds financial tools that help our customers live better lives. We take pride in being a purpose-led firm, motivated by our mission to make financial security accessible to all. Our mission, integrity, and customer focus have made us a trusted leader for more than 140 years!

Who You Are
• Bachelor’s degree in Finance, Economics, Accounting, or a related field; MBA or CFA/FRM designation preferred.
• 10+ years of experience in asset-liability management, treasury, risk management, or financial strategy within a bank or financial institution.
• Deep knowledge of balance sheet management, liquidity and interest rate risk, and capital planning.
• Expertise in ALM modeling, financial analytics, and regulatory frameworks (e.g., FFIEC, FDIC, OCC).
• Strong ability to collaborate cross-functionally and communicate complex concepts to senior leaders and board members.
• Demonstrated leadership with a track record of driving strategic initiatives and influencing decisions.
• Excellent communication skills, including experience presenting to executive leadership, boards, auditors, and regulators.

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)

$123000 - $185000 / year
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

Yes
Additional Information

Work Environments

This role offers in-office, hybrid (blending at least three office days in a typical workweek), and remote work arrangements (only if residing more than 30 miles from Des Moines, IA). You’ll work with your leader to figure out which option may align best based on several factors.

Job Level

We’ll consider talent at the next level with the right experiences and skills.

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 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.
Original Posting Date

5/2/2025
Most Recently Posted Date

5/2/2025

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