Municipal Bonds Jobs (NOW HIRING)

Key responsibilities
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
Join us
At UBS, we know that it's our people, with their diverse skills, experiences and backgrounds, who drive our ongoing success. We're dedicated to our craft and passionate about putting our people first, with new challenges, a supportive team, opportunities to grow and flexible working options when possible. Our inclusive culture brings out the best in our employees, wherever they are on their career journey. And we use artificial intelligence (AI) to work smarter and more efficiently. We also recognize that great work is never done alone. That's why collaboration is at the heart of everything we do. Because together, we're more than ourselves.
We're committed to disability inclusion and if you need reasonable accommodation/adjustments throughout our recruitment process, you can always contact us.
Disclaimer / Policy statements
UBS is an Equal Opportunity Employer. We respect and seek to empower each individual and support the diverse cultures, perspectives, skills and experiences within our workforce.
Your skills and experience
• ideally 5-10+ years in municipal underwriting, trading, or syndicate
• Strong familiarity with competitive sale processes (BidComp, IPREO, etc)
Deep understanding of:
• Municipal bond structures and credit analysis
• Yield curves, spread relationships, and relative value
• Pricing tools
• Strong Excel / modeling capabilities
• Excellent analytical and decision-making skills under time pressure
• Strong market intuition and pricing judgment
• High attention to detail and execution discipline
• Ability to collaborate across sales and trading
• Experience bidding high volume competitive deals
• Relationships with municipal market participants
• Knowledge of derivatives / hedging strategies (plus)
• You're curious to explore how AI can improve how we build, deliver, and optimize workflows. You do this with sound judgment - validating outputs and aligning with policies, risk standards, and ethical use.
About us
UBS is a leading and truly global wealth manager and the leading universal bank in Switzerland. We also provide diversified asset management solutions and focused investment banking capabilities. Headquartered in Zurich, Switzerland, UBS is present in more than 50 markets around the globe.
We know that great work is never done alone. That's why we place collaboration at the heart of everything we do. Because together, we're more than ourselves. Want to find out more? Visit ubs.com/careers.
Your Career Comeback
We are open to applications from career returners. Find out more about our program on ubs.com/careercomeback.
Salary information
The indicative gross base salary range as a full-time equivalent role:
• United States - New York - New York min USD 235000 - max USD 250000 /annum
The expected salary for this role will be determined by relevant factors which may include but are not limited to, role-required experience, qualifications, education, location and skill level. UBS offers a range of competitive benefits and for further information, please visit ubs.com/employee-benefits. We may, at our sole discretion, provide additional variable compensation or awards.