Principal – Private Credit Risk Management

USAA

. Enhance and operationalize the private credit risk framework, ensuring its consistent application across all stages of the credit lifecycle.

Posted 5/21/2026full-timeSan Antonio • Arizona, Colorado, Florida, North Carolina, Texas • 🇺🇸 United StatesLead💰 $189,370 - $361,950 per yearWebsite

About the role

Key responsibilities & impact

Enhance and operationalize the private credit risk framework, ensuring its consistent application across all stages of the credit lifecycle.
Provide independent oversight and challenge of the first line of defense's loan covenant monitoring and enforcement activities.
Conduct thorough due diligence on potential and existing asset managers.
Oversee the day-to-day operations of the private credit investment portfolio.
Provide a strong, independent challenge to First Line of Defense (FLOD) activities, risk metrics, and established risk limits.
Identify critical capability needs within the risk management function and champion initiatives.
Communicate complex risk analyses and findings concisely to senior stakeholders, committees, and investment professionals.
Maintain expert knowledge of financial markets, emerging risks, and complex asset classes relevant to private credit.
Work closely with internal teams, including investment, underwriting, legal, and finance, to align private credit strategy and ensure operational excellence.

Requirements

What you’ll need

Bachelor's degree in Economics, Finance, Accounting, or a related quantitative discipline
10 years of experience as a financial analyst, portfolio manager, or researcher
5-6 years of experience with managing, monitoring, and/or oversight of a private credit book of business
Experience with covenant analysis, loan documentation, and asset manager due diligence and monitoring processes.
Demonstrated strategy development and thought leadership within the asset management industry.
Leading-edge knowledge and expertise in theories, techniques, and technologies within the financial risk industry, with a focus on private credit.
Ability to interpret financial data, assess market trends, and perform due diligence.
Proficiency in financial modeling, Excel, and financial software for the analysis of large datasets
Expert knowledge of financial markets and emerging risks impacting investment portfolio performance, specifically within private credit.
Expert knowledge of complex asset classes such as asset-backed securities, mortgage-backed securities, and/or alternative investments.
Mastery of consulting skills with proven experience communicating analytical and modeling results to non-technical business partners, with an emphasis on business recommendations and actionable applications of results.
Chartered Financial Analyst (CFA) or Financial Risk Manager (FRM) professional designation is highly desirable.
Familiarity with Value-at-Risk (VaR), stress testing, and scenario analysis
Familiarity with insurance industry regulations and risk management expectations for Limited Partnerships (LPs).

Benefits

Comp & perks

comprehensive medical, dental and vision plans
401(k)
pension
life insurance
parental benefits
adoption assistance
paid time off program with paid holidays plus 16 paid volunteer hours
various wellness programs
career path planning and continuing education

ATS Keywords

✓ Tailor your resume

Applicant Tracking System Keywords

Tip: use these terms in your resume and cover letter to boost ATS matches.

Hard Skills & Tools

financial analysisportfolio managementcovenant analysisloan documentationdue diligencefinancial modelingExcelValue-at-Risk (VaR)stress testingscenario analysis

Soft Skills

communicationstrategy developmentthought leadershipanalytical skillsconsulting skills

Certifications

Chartered Financial Analyst (CFA)Financial Risk Manager (FRM)