Director, Operational Risk Management (Funds)

Principal Financial Group; New York (NY); Hybrid; USD 137,000 - 185,000; Full time

Job summary

A financial services company is seeking a Director of Funds Operational Risk to partner with business leaders in developing oversight activities for U.S. fund platforms. Ideal candidates will have 10+ years of experience in fund operations, strong leadership skills, and a deep understanding of mutual fund structures. This role offers competitive compensation and may involve hybrid work arrangements.

Benefits

Flexible Time Off (FTO)

Participation in a bonus program

Qualifications

• 10+ years of experience in investment management fund operations, including fund accounting and shareholder services.
• Strong understanding of mutual fund, ETF, CIT, and interval fund structures.
• Experience working with funds holding private assets (real estate, alternative credit) is highly preferred.

Responsibilities

• Act as a trusted advisor and risk consultant to business leaders across fund operations.
• Lead operational risk oversight for U.S. fund platforms.
• Represent the funds operational risk function in senior forums and Board meetings.

Skills

Investment management fund operations

Operational risk management

Stakeholder collaboration

Effective communication

Education

Bachelor's degree

Advanced degree or professional certification (PRM, CRMP, CAIA)

Job description

What You'll Do

The Director, Funds Operational Risk will serve as a key risk partner to Principal Asset Management’s U.S. funds platforms—covering mutual funds, ETFs, interval funds, and collective investment trusts (CITs). This hands‑on role is responsible for developing and leading operational risk oversight activities for fund operations, shareholder services, fund accounting, and related in‑house functions. The Director will partner closely with business and functional leaders to embed a proactive risk culture, strengthen governance, and provide consistent, best‑in‑class oversight aligned to Board and regulatory expectations.

This individual must bring deep expertise in fund operations to offer credible consultation, challenge, and partnership. The role will also provide insight into fund operations with private asset exposure (such as real estate and alternative credit), while supporting broader enterprise and international risk initiatives.

Key Responsibilities

Operational Risk Partnership & Consulting

• Act as a trusted advisor and risk consultant to business leaders across fund operations, shareholder services, fund accounting, and fund services.
• Engage deeply with teams to identify, assess, and manage operational risks within mutual fund, ETF, interval fund, and CIT platforms.
• Support mindset shifts within the business toward proactive risk ownership—helping teams move from compliance-driven activities to a fully integrated operational risk discipline.
• Provide effective challenge, influence, and guidance to ensure risk-informed decisions are made and aligned with organizational risk appetite.
• Partner with enterprise risk management and other control functions to ensure alignment and consistency across global operations.

Funds Operational Risk Oversight

• Lead operational risk oversight for U.S. fund platforms and ensure adherence to regulatory and Board expectations.
• Oversee and enhance risk reporting for fund Boards, including development of risk dashboards and presentations.
• Support due diligence on sub‑advisors and third‑party service providers, ensuring operational risks are properly assessed and mitigated.
• Identify and implement best practices from other regions (such as Dublin) to strengthen fund operational oversight and consistency.
• Work closely with internal fund operations teams to ensure appropriate controls exist to prevent financial losses, regulatory penalties, or reputational damage.

Risk Framework & Governance

• Lead the design and execution of the business unit’s operational risk framework in alignment with the enterprise program.
• Review and challenge the design and effectiveness of risk controls across fund platforms and operations.
• Identify and elevate emerging risks, drive control improvements, and maintain oversight of key risk indicators and events.
• Represent the funds operational risk function in senior forums, working groups, and Board meetings.
• Help stand up a robust, scalable operational risk program that can be extended to other business areas, including real estate and alternative investments.

Leadership & Collaboration

• Collaborate closely with internal stakeholders, including compliance, internal audit, fund administration, and enterprise risk management.
• Partner with client‑facing teams and sales functions to ensure operational risk practices support positive client and stakeholder outcomes.
• Provide risk training and guidance to internal teams, promoting a culture of accountability and continuous improvement.
• Participate in or lead special projects that strengthen risk management capabilities across Principal Asset Management.

Who You Are

• Bachelor’s degree required; advanced degree or professional certification (i.e. PRM, CRMP, CAIA) preferred.
• 10+ years of experience in investment management fund operations—including fund accounting, shareholder services, fund administration, or related functions.
• Strong understanding of mutual fund, ETF, CIT, and interval fund structures, as well as fund governance requirements.
• Experience working with funds holding private assets (e.g., real estate, alternative credit) is highly preferred.
• Demonstrated success partnering with operations and business leaders to identify, assess, and manage operational risk.
• Proven ability to engage with senior management and Boards through clear and influential communication.
• Strong leadership and collaboration skills, with the ability to drive change and establish best practices across multiple stakeholders.
• Experience supporting enterprise-level risk initiatives and integrating risk frameworks across global locations preferred.
• International perspective and ability to operate effectively across diverse teams and time zones; some travel required.

What Success Looks Like

• A consistent, Board‑ready operational risk oversight program for U.S. fund platforms.
• Enhanced risk awareness and ownership within fund operations teams.
• Best practices embedded across platforms and geographies, creating consistent and transparent risk management processes.
• Strong partnership and credibility with senior business leaders, Boards, and enterprise risk teams.
• A scalable operational risk model that supports future global growth, including real estate and alternative investment platforms.

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, Charlotte, NC, and Raleigh, NC). You’ll work with your leader to figure out which option may align best based on several factors.

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)

$137,000 - $185,000 / 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

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

11/11/2025

Most Recently Posted Date

11/11/2025

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