Loan Syndicate & Sales Trading Associate (New York)

Summary of Responsibilities:

Help the efforts of the LATAM Loan Syndicate Sales & Trading team (“LSS&T”), which focuses on the underwriting, distribution and trading of syndicated loans in the primary and secondary markets, focused on LATAM Corporate Loans, Project Finance and Infrastructure, and Real Estate. LSS&T works jointly with the teams responsible for the origination, structuring and negotiation of syndicated loans and other credit and portfolio management functions. This role is critical in the continued development of BBVA as an active Lead Arranger and Bookrunner on loan transactions in the LATAM market.

LSS&T, in its Syndicate role, is an analytical and advisory function facilitating information flow and decision making regarding the marketability of loans. Loan Syndicate analyzes the loan markets, evaluates financing proposals and recommends terms, conditions, and applicable distribution strategies.

For loan underwritings, Loan Syndicate manages loan market risk, generates underwriting proposals, recommends and executes approved de-risking strategies. In each case, Loan Syndicate provides a situation appropriate market risk analysis (the Loan Underwriting Assessment), including supporting data, liquidity analysis, comparable transaction analysis, an analysis of prevailing market conditions, risk mitigation strategies and the appropriate distribution strategy for achieving BBVA’s Sell-Down Target. LSS&T champions the transaction in the underwriting committee and, if sanctioned, presented for final approval also monitors all underwritings and records them in the Open Position Report.

In its Sales role, LSS&T acts as primary contact point between BBVA and the loan investor universe, including regional, national and foreign banks and institutional investors (asset and fund managers, insurance companies, pension funds, etc…). Responsibility includes primary distribution of loans when BBVA acts as Lead Arranger and Bookrunner, including for Corporate Loans (IG and Mid Corp), Project Finance and Infrastructure, and Real Estate. In addition, the team works closely with Loan Trading & Portfolio Management on secondary opportunities to source or divest loans for the bank’s portfolios. As well, the team assists relationship managers in sourcing primary and secondary loans that can enhance the Bank’s position with its client base and provide an entry point for prospective clients.

The position requires knowledge of the corporate loan market (investment and non-investment grade), the structured aka project finance and infrastructure sectors, real estate and other sectors in which BBVA is active across the Americas.

The general responsibilities for the role include but are not limited to the following:

• Help senior staff to identify underwriting opportunities across the various business lines, working closely with the coverage bankers and origination and structuring teams
• Work with these teams as well as Risk and PM to identify the appropriate level of final hold desired
• Help senior staff to formulate appropriate level of underwriting commitments and associated de-risk strategies to achieve BBVA’s desired final hold
• Help to prepare LUAs to LUC and other business and risk committees as needed
• Maintain working database of investors and ongoing contact with said investors, including with the Sales team
• Help identify investor list for transactions where BBVA is Lead Arranger / Bookrunner and formulate distribution strategy
• Support the organization and management of bank meetings and marketing events, including the preparation of the necessary marketing materials
• During distribution phases of syndications, help research and answer investor questions, prepare syndication trackers and update reports maintain deal pipeline to ensure accurate reporting of all activity and especially open underwriting positions
• Keep track and provide ongoing assessment of pricing trends across sectors and markets
• Prepare loan market commentary & analysis distributed internally on a periodic basis, ie. weekly, monthly, etc..
• Oversee the maintaining of database of loan comparables
• Work with Loan Trading and Portfolio Management on optimizing secondary loan execution for the various portfolio books within BBVA
• Regulatory and compliance obligations including proper documentation of all trades, etc..
• Monitor & support the closing of loan trades by BBVA’s Closing teams as needed
• Provide periodic monitoring and reporting of underwritten positions and sell-down results, and associated economics, to Team Head and Sr. Management.

Level of Complexity and Risk Involved:

Mid-level of complexity. Key component of the Syndicated Finance value chain supporting senior staff.Actively involved in helping to structure, price, and ultimately sell underwritten loans for the Bank. Must have knowledge of multiple loan markets and investor types in Latin America, including Corporate and Mid-Corporate credits, Real Estate and PF and Infrastructure, and understand best practices in the market, including trends in sustainable financing.

Skills, knowledge, and abilities/competencies :

• Degree in Economics, Accounting, Finance or related field. MBA a plus.
• 3 to 5 years of experience including roles in either loan syndicate or syndicated finance
• Knowledge of Corporate and Mid-Corporate, Project and Infrastructure finance, and Real Estate Latam loan markets
• Track record of underwriting and successfully syndicating transactions in the LATAM sectors to be covered at similar level of responsibility
• Strong understanding of financial statement analysis, financial modeling and DCF analysis
• Familiar with due diligence materials and standards within the Project Finance and Infrastructure sectors
• Excellent English and Spanish written and verbal communication skills.
• Team player but also comfortable working independently with limited supervision
• Multi-tasker with ability to work under pressure and tight deadlines
• Proficient in Excel and Power Point, Debtdomain, Sales Force, Bloomberg, other market research tools
• Strong analytical skills.

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 $145,000. 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