FIG Insurance Coverage Vice President

About the Role

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.

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.

Key Responsibilities

Client Coverage & Origination

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

Transaction Execution

• 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
• Support M&A, block reinsurance, and sidecar/flow reinsurance dialogue, including preparation of strategic materials and coordination with advisory teams
• Manage internal processes end-to-end: credit approvals, KYC/onboarding, capital committee memos, and legal documentation coordination

Content & Analysis

• Produce high-quality client materials: pitch books, market updates, capital structure and peer benchmarking analyses, regulatory impact assessments
• 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
• Mentor and direct the work of associates and analysts

Qualifications

Required

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

Preferred

• Experience covering or executing for PE-backed insurers, Bermuda reinsurers, or insurance asset managers
• Knowledge of funding agreement-backed issuance programs, FHLB borrowing, and insurer secured funding structures
• Spanish language skills a plus, given coordination with Madrid-based product and risk partners

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.

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.

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.

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