US Debt Capital Markets FIG Associate

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BBVA is a global company with more than 160 years of history that operates in more than 25 countries where we serve more than 80 million customers. We are more than 121,000 professionals working in multidisciplinary teams with profiles as diverse as financiers, legal experts, data scientists, developers, engineers and designers.

About the job:

Position Overview

BBVA is seeking a highly motivated and analytically driven Associate to join the Financial Institutions Group Debt Capital Markets (FIG DCM) team in New York. The Associate will play an integral role in the origination, structuring, execution, and syndication of debt capital markets transactions for banks, insurance companies, specialty finance companies, asset managers, and other financial institution clients across the United States and Canada.

This role provides significant exposure to the global FIG capital markets landscape, including senior unsecured issuance, subordinated debt, preferred securities, Bail-in eligible instruments, covered bonds, securitized funding solutions, FABNs and sustainable finance products. The Associate will work closely with senior bankers, syndicate, sales & trading, risk, and legal teams throughout the full transaction lifecycle, from market analysis and client pitching through execution and closing.

The ideal candidate will possess strong analytical and quantitative skills, a deep interest in financial institutions and fixed income markets, and the ability to manage multiple live transactions in a fast-paced and collaborative environment.

Key Responsibilities

Market Analysis & Strategic Insights

• Monitor developments in global fixed income and financial institution funding markets, including interest rates, credit spreads, bank capital issuance activity, regulatory developments, and investor sentiment.
• Analyze trends affecting banks, insurers, and specialty finance issuers, including capital adequacy, liquidity requirements, Bail-in frameworks, Basel III/IV developments, and rating agency methodologies.
• Prepare market updates, relative value analyses, and issuer-specific funding recommendations for internal and external stakeholders.
• Evaluate comparable FIG bond issuances and secondary market performance to support pricing and execution strategy.
• Track macroeconomic, monetary policy, and regulatory developments impacting financial institution funding markets.

Transaction Execution

-Support the execution of debt offerings across a range of FIG products, including:

• Senior unsecured debt
• Preferred securities
• Bank capital instruments
• Covered bonds
• Insurance Capital Instruments
• FABNs
• Sustainable finance instruments
• Liability management transactions

-Coordinate transaction execution processes including due diligence, documentation, investor marketing, roadshow logistics, pricing analysis, and closing activities.

-Prepare transaction materials such as investor presentations, offering memoranda, roadshow decks, pricing updates, and term sheets.

-Work closely with syndicate, sales & trading, legal counsel, compliance, treasury teams, and external stakeholders to ensure seamless execution.

-Manage transaction timelines and maintain accurate execution records and internal reporting.

Financial Analysis & Modeling

• Perform detailed financial analysis of banks, insurance companies, and other financial institutions, including capital ratios, liquidity metrics, funding profiles, asset quality, and earnings performance.
• Analyze issuer balance sheets and regulatory capital structures to support strategic financing recommendations.
• Build and maintain financial and capital structure models evaluating funding alternatives, refinancing strategies, and debt capacity.
• Support the preparation of internal credit memoranda, risk approval materials, and transaction committee presentations.
• Maintain internal databases related to FIG issuance activity, pricing comparables, investor participation, and market statistics.

Client Coverage & Business Development

• Assist senior bankers in preparing client pitches, strategic financing proposals, and funding strategy presentations.
• Support relationship management efforts with existing and prospective FIG clients across banking, insurance, and diversified financial sectors.
• Participate in client meetings, due diligence sessions, investor calls, and internal strategy discussions.
• Contribute market intelligence and strategic ideas to help identify new business opportunities and deepen client engagement.

Cross-Functional Collaboration

• Coordinate closely with FIG investment banking, corporate banking, treasury solutions, sustainable finance, securitization, derivatives, and syndicate teams.
• Collaborate with BBVA teams across the U.S., Europe, and Latin America on cross-border FIG transactions and strategic initiatives.
• Mentor and provide guidance to analysts on execution processes, modeling, and market analysis.

Required Qualifications

• Bachelor’s degree in Finance, Economics, Accounting, Business Administration, or a related quantitative discipline.
• 3–5 years of relevant experience in FIG DCM, investment banking, corporate banking, fixed income, or a related financial services role.
• Strong understanding of financial institution funding products, bank capital structures, and fixed income markets.
• Experience analyzing financial institutions, including banks and insurance companies.
• Advanced financial statement analysis and financial modeling capabilities.
• Proficiency in Excel and PowerPoint, including experience preparing client-ready materials and analytical models.
• Strong analytical, quantitative, and problem-solving skills.
• Excellent written and verbal communication skills.
• Ability to work effectively under pressure and manage multiple live transactions simultaneously.
• Demonstrated attention to detail and strong organizational skills.
• FINRA SIE & 79 required
• Fluency in English

Preferred Qualifications

• Prior FIG DCM or FIG investment banking experience.
• Familiarity with Basel III/IV capital frameworks, TLAC/MREL requirements, and Bank & Insurance regulatory considerations.
• Familiarity with rating agencies methodologies
• Experience with Bloomberg, Capital IQ, Refinitiv, FactSet, or similar market platforms.
• Exposure to bank capital markets, debt syndication, or fixed income trading environments.
• Experience working in a global or cross-border banking environment.
• Spanish language skills are beneficial but not required.
• CFA designation or progress toward CFA is a plus.
• FINRA series 63 will be required within 6 months of start date

Core Competencies

• Strong analytical and quantitative aptitude
• Understanding of financial institutions and capital markets
• Commercial awareness and market judgment
• Intellectual curiosity and proactive mindset
• Ability to thrive in a fast-paced, high-performance environment
• Team-oriented with strong interpersonal skills
• Professional maturity and accountability
• High attention to detail and execution excellence
• Strong presentation and communication abilities

Why Join BBVA

BBVA is a leading global financial institution with a strong international platform and an established presence in global financial institution funding markets. The FIG DCM team provides professionals with the opportunity to work on complex and high-profile transactions for leading financial institutions in a collaborative, entrepreneurial, and international environment.

Team members benefit from:

• Exposure to senior management and institutional clients
• Hands-on execution experience across FIG capital products
• Cross-border transaction opportunities
• Professional development and mentorship
• A collaborative and inclusive culture
• Long-term career growth within investment banking and capital markets

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

With respect to this position in our New York Office, the expected base salary ranges from $120,000 to $130,000. It is not typical for offers to be made at or near the top of the range. Salary offers are based on a wide range of factors including relevant skills, training, experience, education, and, where applicable, certifications obtained. Market and organizational factors are also considered. In addition to salary and a generous employee benefits package, successful candidates are eligible to receive a discretionary bonus.

*Employment eligibility to work with BBVA in the U.S. is required as the company will not pursue visa sponsorship for these positions

Legal requirements

It is not typical for offers to be made at or near the top of the range. Salary offers are based on a wide range of factors including relevant skills, training, experience, education, and, where applicable, certifications obtained. Market and organizational factors are also considered. In addition to salary and a generous employee benefits package, successful candidates are eligible to receive a discretionary bonus.

Pay Transparency Policy Statement

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information (41 C.F.R. 60-1.35 (c)).

Individuals with Disabilities

BBVA USA, BBVA Securities Inc., and BBVA S.A. New York Branch invite all interested and qualified applicants to apply for employment opportunities. If you are a U.S.-based job seeker with a disability who is unable to use our online tools to search and apply for jobs, please contact us by emailing: [email protected] or by calling toll-free (in the U.S.) 1-844-664-9275. Please indicate the specific type of assistance needed*.

*The disability access telephone line and email address are reserved solely for job seekers with disabilities requesting accessibility assistance or an accommodation. Please do not call about the status of your job application if you do not require accessibility assistance or an accommodation. Messages left for other purposes, such as following up on an application or non-disability related or technical issues, will not receive a response.

EEO Statement

BBVA USA, BBVA Securities Inc., and BBVA S.A. New York Branch have a firm and unwavering policy to provide equal employment opportunity without regard to age, citizenship, color, disability, ethnic origin, gender, gender identity and expression, marital status, nationality, national origin, race, religion, sexual orientation, genetic predisposition, protected veteran status, or any other status or classification protected by federal, state or local law. This policy includes all job groups, classifications and organizational units. With regard to employment, this policy extends to applicants and covers our recruiting, hiring, promotion, transfer, demotion, discipline, termination, benefits, compensation and training practices as well as social and recreational activities.

View the "EEO is the Law" & "View the EEO is the Law Supplement Poster" poster. BBVA USA, BBVA Securities, Inc., and BBVA NY are equal opportunity and affirmative action employer.