FIG Insurance Coverage Vice President

Job Description

About the Role

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BBVA's Corporate & Investment Banking division is seeking a Vice President to join its Insurance Coverage team in New York. The VP will support the origination and execution of strategic dialogue and transactions with insurance sector clients — life, annuity, P&C, reinsurance, and insurance-linked asset managers — across Global Markets, Global Transaction Banking, and Global Investment Banking product sets.

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This is a client-facing role with significant senior exposure. The successful candidate will operate as the connective tissue between coverage and product partners, driving account planning, deal execution, and content creation for a portfolio of US-domiciled insurers with global operations.

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Key Responsibilities

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Client Coverage & Origination

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• Support MD-level coverage of insurance clients, including preparation of pre-meeting intelligence briefs, account plans, wallet analyses, and relationship reviews
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• Develop and maintain relationships with client counterparts at the VP/Director level (treasury, capital management, investments, corporate development)
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• Identify cross-sell opportunities across financing, hedging, transaction banking, and advisory, and coordinate delivery with product partners in New York, Madrid, and London
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Transaction Execution

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• Execute across the full insurance capital markets toolkit: hybrid and subordinated debt, surplus notes, FABN/FABS and other funding agreement-backed programs, credit facilities, letters of credit and reinsurance collateral solutions, and derivative overlays
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• Support M&A, block reinsurance, and sidecar/flow reinsurance dialogue, including preparation of strategic materials and coordination with advisory teams
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• Manage internal processes end-to-end: credit approvals, KYC/onboarding, capital committee memos, and legal documentation coordination
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Content & Analysis

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• Produce high-quality client materials: pitch books, market updates, capital structure and peer benchmarking analyses, regulatory impact assessments
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• Monitor sector developments — rating agency actions, NAIC/BMA/PRA/EIOPA regulatory changes, reinsurance renewal conditions, and transaction activity — and translate them into actionable client dialogue
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• Mentor and direct the work of associates and analysts
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Qualifications

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Required

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• 6–9 years of experience in investment banking, corporate banking, or capital markets with direct insurance sector or FIG coverage exposure
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• Strong working knowledge of insurance company balance sheets, including statutory and GAAP/IFRS accounting, RBC and other capital frameworks, and reinsurance structures
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• Familiarity with the regulatory landscape governing US and Bermuda insurers (NAIC, BMA); exposure to PRA and Solvency II a plus
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• Demonstrated execution experience across debt capital markets, structured financing, or derivatives for financial institutions clients
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• Excellent written and verbal communication; able to produce senior-ready materials with minimal oversight
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• Bachelor's degree required; FINRA Series 79 and 63 (or ability to obtain within a defined period)
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• FINRA SIE, Series 79, Series 63 required (or willing to obtain in 3 months of hire)
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Preferred

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• Experience covering or executing for PE-backed insurers, Bermuda reinsurers, or insurance asset managers
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• Knowledge of funding agreement-backed issuance programs, FHLB borrowing, and insurer secured funding structures
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• Spanish language skills a plus, given coordination with Madrid-based product and risk partners
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The New York Branch provides a high-visibility environment, with direct exposure to senior stakeholders and involvement in key regulatory and strategic initiatives in the U.S.

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We promote a collaborative culture that values ownership and continuous improvement. This role offers the opportunity to deepen your regulatory expertise, work across functions and develop within a global organization.

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With respect to this position in our New York Office, the expected base salary ranges from $190,000 to $240,000. 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.

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

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