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What You'll Do

We’re looking for a Commercial Mortgage Servicing Asset Analyst to join our Commercial Mortgage Servicing team. When it comes to private debt—particularly senior mortgages and structured commercial real estate debt—the scale of Principal Real Estate Investors offers a distinct advantage. We’ve become a go-to resource for borrowers and peer lenders in the commercial real estate mortgage lending market because we can participate anywhere along the debt spectrum—which ultimately benefits our borrowers and investors.

Our debt platform is vertically integrated and incorporates underwriting, closing, appraisal, engineering, research, legal, and servicing. This range of capabilities helps us control the timing and quality of every aspect of a deal we make.

In this role, as a CMS (Commercial Mortgage Servicing) team member in our private debt group, you will independently manage the administration and servicing of commercial real estate loans, including risk analysis and recommending courses of action to portfolio managers or others as appropriate. Your loan portfolio will include a variety of clients including life companies, CMBS, and construction loans and wide variety of property types.

How you’ll spend your time

+ Independently manage the direction, management, and proactive servicing of an assigned portfolio of medium to large customized commercial real estate loans for a variety of lending platforms. Independently perform thorough risk analysis and recommend a course of action to various parties including portfolio managers, clients, and external servicers. Analysis includes thorough review of borrowers, guarantors, property management companies, property operating statements, rent rolls, loan security, and loan structures.

+ Assess risk and make effective recommendations while trying to provide creative solutions that meet borrower needs.

+ Structure, negotiate, document, and close complex servicing transactions, such as loan assumptions, collateral releases, title matters, escrow releases, lease approvals, payoff calculations, and defeasances in compliance with the loan documents and investment mandates.

+ Monitor borrowers' compliance with loan documents and client requirements.

+ Perform property review (operating, financial, and market performance) of loans assigned and perform compliance tests for loan covenants.

+ Proactively monitor watchlist or problem loans. Coordinate and review loan property information with special servicing and portfolio managers to minimize potential risk and losses to lending clients.

+ Review and approve monthly construction draw submissions from borrowers, including construction budget reviews and draw documentation. Work with borrowers to obtain all final information and make funding recommendations.

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

We’re looking for someone with:

+ Bachelor's degree in business, business management, prelaw, finance, real estate, or related field

+ Strong analytical skills and mathematical aptitude

+ Excellent verbal and written communication skills required

+ Strong organizational skills and ability to meet deadlines

+ Proficiency with Excel, Word, and Outlook

**Hiring Level:** We are open to hiring at multiple levels depending on experience and qualifications.

+ For the CMS Asset Manager, in addition to the above, a candidate will have experience analyzing and interpreting loan documents or legal contracts, assessing risk, and making recommendations based on risk analysis. The candidate should have experience reading and interpreting basic financial statements to complete calculations. Construction lending experience preferred.

+ For the Sr CMS Asset Manager, a candidate will have commercial mortgage servicing experience including direct borrower communication (both verbal and written). Ability to analyze, interpret, and draft loan documents, assess risk, and make recommendations based on independent analysis. Experience reading, interpreting, and drawing conclusions from financial statements. Construction lending and/or structured debt stack experience preferred.

**Please note that the salary range is reflective of the full range for all three levels for which we may hire this role.

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)

$57000 - $116850 / 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

No

Additional Information

Work Environments

This role offers an in-office and hybrid (blending at least four office days in a typical workweek) work arrangement 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 (https://www.uscis.gov/working-in-the-united-states/temporary-nonimmigrant-workers) and Green Card for Employment-Based Immigrants (https://www.uscis.gov/green-card/green-card-eligibility/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 (https://www.principal.com/about-us/careers) 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

7/28/2025

Most Recently Posted Date

7/28/2025