Structured Finance Credit Risk

BBVA RED EXTERIOR DE OFICINAS; New York (NY); On-site; USD 190,000 - 220,000; Full time

Benefits offered by this job

Discretionary bonus

Job summary

BBVA is seeking a Senior Vice President to join its Structured Finance Credit Risk team in New York. The role focuses on underwriting and managing risk across Securitization Warehouse facilities, ABS assets, and Private Credit / Direct Lending exposures.

Requirements include a 10–12 year track record in credit underwriting, extensive securitization knowledge, and strong analytical skills. A discretionary bonus is offered; visa sponsorship is not provided.

Qualifications

• Bachelor's degree in Finance, Economics, Business or related field; advanced degree or CFA/FRM preferred.
• 10-12 years of relevant credit underwriting experience within a financial institution or related environment.
• Significant hands-on experience underwriting securitization warehouse facilities and private credit portfolios.

Responsibilities

• Lead underwriting of securitization warehouse facilities across multiple ABS asset classes.
• Underwrite secured lending facilities and revolving credit facilities to BDCs and private credit platforms.
• Assess borrowing base structures, advance rates, eligibility criteria, concentration limits, and structural protections.
• Analyze collateral pools and direct lending portfolios at asset and portfolio levels.
• Evaluate transaction mechanics including waterfalls, triggers, covenants, margins, and amortization features.
• Oversee ongoing monitoring of warehouse and private credit exposures.
• Conduct stress testing and scenario analysis on asset pools and direct lending portfolios.
• Identify emerging risks, concentration issues, and structural vulnerabilities.
• Present credit recommendations to senior management and credit committees.
• Contribute to enhancement of underwriting frameworks and risk methodologies.
• Serve as subject matter expert on securitization warehouse and BDC lending risk.

Skills

Credit underwriting

Securitization knowledge

Portfolio risk management

Strong analytical skills

Education

Bachelor's degree in Finance, Economics, or Business

CFA/FRM preferred

Job description

Excited to grow your career? 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.

About the job

A leading European bank with significant U.S. operations is seeking a Senior Vice President to join its Structured Finance Credit Risk team. This role will focus on underwriting and managing risk across Securitization Warehouse facilities, ABS asset classes, and Private Credit / Direct Lending portfolio exposures, including Secured Lending Facilities and BDC Revolving Credit Facilities (RCFs). The successful candidate will play a key role in supporting platform growth while ensuring disciplined underwriting standards and strong portfolio risk oversight. This position requires deep hands-on transaction experience and independent credit judgment consistent with SVP-level responsibility.

Key Responsibilities

• Lead underwriting of Securitization Warehouse facilities across multiple ABS asset classes.
• Underwrite Secured Lending Facilities and RCFs to BDCs and private credit platforms.
• Assess borrowing base structures, advance rates, eligibility criteria, concentration limits, and structural protections.
• Analyze collateral pools and direct lending portfolios at the asset and portfolio levels.
• Evaluate transaction mechanics including waterfalls, triggers, covenants, margining frameworks, and amortization features.

Portfolio Risk Management

• Oversee ongoing monitoring of warehouse and private credit exposures.
• Conduct stress testing and scenario analysis on asset pools and direct lending portfolios.
• Identify emerging risks, concentration issues, and structural vulnerabilities.
• Ensure compliance with internal credit policies and regulatory requirements.

Leadership & Governance

• Present credit recommendations to senior management and credit committees.
• Contribute to enhancement of underwriting frameworks and risk methodologies.
• Serve as subject matter expert on securitization warehouse and BDC lending risk.
• Support strategic expansion of structured finance and private credit activities.

Qualifications

• Bachelor's degree in Finance, Economics, Business, or related field; advanced degree or CFA/FRM preferred.
• 10-12 years of relevant credit underwriting experience within a financial institution, structured finance platform, rating agency or private credit environment.
• Significant hands-on experience underwriting Securitization Warehouse Facilities ABS asset classes Senior Secured Lending Facilities Revolving Credit Facilities (RCFs) to BDCs Private Credit / Direct Lending portfolios.
• Strong understanding of securitization documentation, borrowing base mechanics, collateral analytics, covenant frameworks, and transaction structuring.
• Experience analyzing BDC financials, leverage constraints, asset coverage tests, and portfolio composition.
• Demonstrated ability to operate independently at the VP level with strong credit judgment and committee presence.
• Excellent analytical, quantitative, and communication skills.

Position Profile

This role is suited for a senior credit professional with substantial experience leading underwriting of securitization warehouse and private credit facilities. The position offers significant visibility, front-office interaction, and the opportunity to influence risk standards within a growing structured finance platform.

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.

Compensation

With respect to this position in our New York Office, the expected base salary ranges from $190,000 to $220,000. 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.

Legal Requirements

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.

Pay Transparency Policy Statement

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information (41 C.F.R. 60-1.35 (c)).

Individuals with Disabilities

BBVA USA, BBVA Securities Inc., and BBVA S.A. New York Branch invite all interested and qualified applicants to apply for employment opportunities. If you are a U.S.-based job seeker with a disability who is unable to use our online tools to search and apply for jobs, please contact us by emailing: [e-mail] or by calling toll-free (in the U.S.) 1-844-664-9275. Please indicate the specific type of assistance needed*. *The disability access telephone line and email address are reserved solely for job seekers with disabilities requesting accessibility assistance or an accommodation. Please do not call about the status of your job application if you do not require accessibility assistance or an accommodation. Messages left for other purposes, such as following up on an application or non-disability related or technical issues, will not receive a response.

EEO Statement

BBVA USA, BBVA Securities Inc., and BBVA S.A. New York Branch have a firm and unwavering policy to provide equal employment opportunity without regard to age, citizenship, color, disability, ethnic origin, gender, gender identity and expression, marital status, nationality, national origin, race, religion, sexual orientation, genetic predisposition, protected veteran status, or any other status or classification protected by federal, state or local law. This policy includes all job groups, classifications and organizational units. With regard to employment, this policy extends to applicants and covers our recruiting, hiring, promotion, transfer, demotion, discipline, termination, benefits, compensation and training practices as well as social and recreational activities. View the "EEO is the Law" & "View the EEO is the Law Supplement Poster" poster. BBVA USA, BBVA Securities, Inc., and BBVA NY are equal opportunity and affirmative action employer.

We are more than 121,000 colleagues across 25 countries, working in multidisciplinary teams where we understand the importance of work-life balance. We support our clients in the energy transition and are committed to inclusive growth. We are pioneers in adopting disruptive technologies that will shape the financial industry. Dare to define the future of banking!