FIG Insurance Coverage Vice President
About The Position
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.
Requirements
- 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)
- Employment eligibility to work with BBVA in the U.S. is required as the company will not pursue visa sponsorship for these positions
Nice To Haves
- 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
Responsibilities
- 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
- 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
- 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
Benefits
- generous employee benefits package
- discretionary bonus
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
