Competitive Underwriter — UBS

Descrizione completa

The Competitive Underwriter is responsible for pricing, structuring, and executing municipal bond transactions in competitive sale processes. This role partners closely with sales and trading to evaluate deals, develop bid strategies, and manage risk to maximize win rates and profitability. Key Responsibilities Deal Evaluation & Pricing

• Analyze municipal bond announcements for competitive bids
• Build pricing scales, yield curves, and relative value assessments
• Evaluate credit fundamentals, structure, call features, and investor demand
• Determine optimal bid levels balancing risk, return, and win probability Market Strategy & Execution
• Develop and execute bidding strategies for competitive transactions
• Monitor market conditions (rates, flows, supply/demand, comparable trades)
• Coordinate with trading desk on secondary levels and positioning
• Submit bids and manage award process in real time Risk Management
• Assess market and inventory risk associated with awarded deals
• Work with trading to hedge or distribute risk efficiently
• Ensure adherence to firm risk limits and capital usage guidelines Cross-Functional Collaboration Partner with:
• Sales: gauge investor demand and pricing appetite
• Trading: align on secondary levels and liquidity
• Provide feedback to improve competitiveness Post-Award Execution
• Support allocation, distribution, and secondary market trading strategies
• Monitor performance of won deals and refine future pricing approaches
• Maintain records of bids, outcomes, and competitor behavior