At a Glance
- Tasks: Design and develop innovative models for inflation derivatives and collaborate with traders.
- Company: Join Santander, a leading global bank with a focus on innovation and inclusivity.
- Benefits: Enjoy competitive salary, generous holiday, private medical insurance, and pension contributions.
- Other info: Dynamic work environment in London with excellent career growth opportunities.
- Why this job: Make an impact in financial markets while working with cutting-edge quantitative techniques.
- Qualifications: Strong background in quantitative finance and programming skills in Python or C++.
The predicted salary is between 60000 - 80000 £ per year.
Associate/Vice President - Inflation Quant
Santander Corporate & Investment Banking (SCIB) is Santander’s global division that supports complex corporate and institutional clients with tailored wholesale products.
The Front Office Quant area develops pricing and risk models and tools for sales and trading teams.
Within the Linear Rates & Inflation Products Quants group, this role focuses on building pricing libraries for inflation products and curves.
Responsibilities
- Design, develop, and maintain models and analytics for inflation derivatives, including inflation revenue swaps, year‑on‑year swaps, LPI swaps, caps/floors, and inflation‑linked optionality.
- Develop and enhance inflation curve construction methodologies, such as bootstrapping, interpolation, extrapolation, and seasonality‑adjusted curves.
- Build and improve analytics for pricing, risk, calibration, and scenario analysis for inflation and rates products.
- Support the development of pricing and/or calibration models for inflation options, inflation cap/floor markets, and related volatility analytics.
- Collaborate closely with inflation traders, structurers, and risk managers to ensure models and curves are accurate, robust, performant, and fit for purpose.
- Implement and test new models within production analytics libraries using Python, C++, and/or Rust.
- Monitor and improve the performance, stability, and accuracy of existing analytics, resolving production issues promptly.
- Produce clear model documentation and present methodology, assumptions, and results to traders, senior quants, and model risk stakeholders.
- Stay current with academic literature, market practice, and regulatory expectations in inflation modelling, calibration, and pricing.
Qualifications
- Extensive quantitative experience in a bank, asset manager, hedge fund, or similar financial markets environment, with direct exposure to inflation products.
- Professional quant experience with options modelling, ideally in a front‑office or trading‑aligned environment.
- Higher qualification in Financial Mathematics, Engineering, Applied Mathematics, Physics, Computer Science, or a related mathematical degree.
- Excellent knowledge of interest‑rate and inflation‑derivatives modelling, including experience with inflation options, caps/floors, or related rates‑volatility products.
- Experience in inflation/rates curve construction, bootstrapping, interpolation, seasonality adjustments, and calibration techniques.
- Excellent programming skills in Python and/or C++ with deep experience in numerical libraries (e. g., Num Py, Sci Py, pandas).
- Familiarity with model validation processes, documentation, and regulatory requirements relating to model risk.
- Experience with automated testing, CI/CD pipelines, and version control such as Git.
- Strong communication skills, able to explain complex modelling concepts clearly to both technical and non‑technical stakeholders.
- Optional: Ph D in Financial Mathematics, Engineering, Applied Mathematics, Physics, Computer Science, or a related discipline.
- Optional: Hands‑on experience with Yo Y swaps, revenue swaps, LPI swaps, caps/floors, and options.
- Optional: Knowledge of real‑money inflation markets (linkers, breakevens) beyond derivatives.
- Optional: Experience with inflation volatility modelling, smile/skew modelling, calibration frameworks, or hybrid rates/inflation models.
- Optional: Experience with a compiled language (Rust or C++) for performance‑critical analytics.
- Optional: Familiarity with production quant libraries and large‑scale analytics platforms.
- Location
This role is based at our offices in Triton Square, London, within easy walking distance from Warren Street and Euston.
Benefits
Competitive salary with discretionary performance‑related bonus, 8% pension contribution matching company contributions of up to 12.5% (cash option available). 30 days holiday plus bank holidays, increasing to 31 days after 5 years of service, with optional purchase of up to 5 contractual days.
Company‑funded private medical insurance and optional voluntary healthcare benefits, including dental and health assessments.
Pension relief, income protection, life assurance, and critical illness cover with discounted rates.
Share in Santander’s success through share plans.
Equal Opportunities
Santander is proud of being an organization where equal opportunities are available regardless of age, gender, disability, civil status, race, religion or sexual orientation.
We are committed to an inclusive and accessible application process for all candidates.
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Associate/Vice President - Inflation Quant | SCIB in London employer: Banco Santander SA
Banco Santander SA is an exceptional employer, offering a dynamic work environment in the heart of London where innovation and collaboration thrive. Employees benefit from a competitive salary, comprehensive benefits, and ample opportunities for personal and professional development, making it an ideal place for those looking to advance their careers in finance while contributing to impactful investment strategies.
