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.

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.

• 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.

• 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.

• 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…