At a Glance
- Tasks: Design and develop pricing models for inflation products in a dynamic trading environment.
- Company: Join Santander Corporate & Investment Banking, a leader in financial services.
- Benefits: Competitive salary, 30 days holiday, private medical insurance, and pension contributions.
- Other info: Inclusive workplace with excellent career growth opportunities.
- Why this job: Make a real impact in finance while working with cutting-edge quantitative models.
- Qualifications: Strong quantitative skills and programming experience in Python or C++ required.
The predicted salary is between 60000 - 80000 £ per year.
Join our community. Santander Corporate & Investment Banking (SCIB) is Santander's global division that supports some of the world's most complex and sophisticated corporate and institutional clients, offering customised services and value-added wholesale products to best meet their needs.
The Front Office Quant area is in charge of the development of the pricing and risk models, as well as the pricing tools for Sales and trading teams. As part of the Linear Rates & Inflation Products Quants team, the focus of this position will be on the development of the pricing libraries for inflation models as well as the curves library.
We are looking for a talented and motivated Inflation Quantitative Analyst to join our Quantitative Products team. The successful candidate will focus on the development, implementation, and maintenance of pricing analytics and curve construction frameworks for inflation products, with a particular emphasis on inflation options, caps/floors, and volatility products. This is a high-impact role working at the intersection of research, technology, and trading.
About you. You will be a commercially minded quant who enjoys working close to the trading desk. You combine strong mathematical modelling skills with practical implementation ability and a clear understanding of how models are used in production trading environments. You should be comfortable balancing model sophistication with robustness, explainability, and performance. You will be proactive, collaborative, and able to work effectively with traders, structurers, developers, risk managers, and model validation teams. You will play a key role in designing, building, and maintaining models and analytics for inflation derivatives trading.
The difference you’ll make:
- Designing, developing, and maintaining models and analytics for inflation derivatives, including inflation revenue swaps, year-on-year swaps, LPI swaps, caps/floors, and inflation-linked optionality.
- Developing and enhancing inflation curve construction methodologies, including bootstrapping, interpolation, extrapolation, and seasonality-adjusted curves.
- Building and improving analytics for pricing, risk, calibration, and scenario analytics for inflation and rates products.
- Supporting the development of pricing and/or calibration models for inflation options, inflation cap/floor markets, and related volatility analytics.
- Working closely with inflation traders, structurers, and risk managers to ensure models and curves are accurate, robust, performant, and fit for purpose.
- Implementing and testing new models within production analytics libraries using Python, C++, and/or Rust.
- Monitoring and improving the performance, stability, and accuracy of existing analytics, resolving production issues in a timely manner.
- Producing clear model documentation and presenting methodology, assumptions, and results to traders, senior quants, and model risk stakeholders.
- Staying current with academic literature, market practice, and regulatory expectations in inflation modelling, calibration, and pricing.
What you’ll bring: Our people are our greatest strength. Every individual contributes unique perspectives that make us stronger as a team and as an organisation. We’re enabling teams to go beyond by valuing who they are and empowering what they bring. The following requirements represent the knowledge, skills, and abilities essential for success in this role.
- Extensive quantitative experience gained 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.
- A higher qualification in Financial Mathematics, Engineering, Applied Mathematics, Physics, Computer Science, or relevant mathematical based degree.
- Excellent knowledge of interest rate and inflation derivatives modelling, ideally with experience in inflation options, inflation 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++ are essential, with deep experience in numerical libraries (e.g., NumPy, SciPy, pandas).
- Familiarity with model validation processes, model documentation, and regulatory requirements relating to model risk.
- Experience with automated testing, CI/CD pipelines, and version control such as Git.
- Well-developed communication skills, with the ability to explain complex modelling concepts clearly to both technical and non-technical stakeholders.
It would also be useful to have:
- PhD in Financial Math, Engineering, Applied Mathematics, Physics, Computer Science, or relevant mathematical based discipline.
- Hands-on experience with products such as YoY swaps, revenue swaps, LPI swaps, caps/floors, and options.
- Knowledge of real-money inflation markets (linkers, breakevens) in addition to derivatives.
- Professional experience with inflation volatility modelling, smile/skew modelling, calibration frameworks, or hybrid rates/inflation models.
- Professional experience with a compiled language (Rust or C++) for performance-critical analytics.
- Familiarity with production quant libraries and large-scale analytics platforms.
What else you need to know: This role is based at our offices in Triton Square, London located within easy walking distance from Warren Street and Euston. We want our people to thrive at work and home, and also be able to deliver the best outcomes for our customers and to help each other develop.
Equal Opportunities. Santander is proud of being an organization where there are equal opportunities regardless of age, gender, disability, civil status, race, religion or sexual orientation. We are committed to providing an inclusive and accessible application process for all candidates.
How we’ll reward you. Your contribution matters, and it’s recognised. You can expect a fair, competitive reward package that reflects the impact you create and the value you deliver. As well as a competitive salary, you’ll enjoy a benefits package that you can tailor to your needs. Eligible for a discretionary performance-related annual bonus. We put 8% of salary into your pension, even if you don’t contribute yourself. We’ll pay in up to 12.5% of salary, if you contribute as well, and you can take some of our contribution in cash if you prefer. 30 days’ holiday plus bank holidays, which increases to 31 days after 5 years service, with the option to purchase up to 5 contractual days per year. Company funded individual private medical insurance. Voluntary healthcare benefits at discounted rates such as private medical insurance for your family, dental insurance, and health assessments. Protection for you and your family, with company-funded death-in-service benefit and income protection insurance, and the option to take advantage of discounted rates for additional life assurance and critical illness cover. Share in Santander’s success by saving or investing in our share plans.
What to do next: If this sounds like a role you’re interested in, then please apply.
StudySmarter Expert Advice🤫
We think this is how you could land Associate/Vice President - Inflation Quant | SCIB in London
✨Tap into Campus Networks
If you're still in uni, don’t forget to engage with your campus's career services and attend finance-related events. Banks often do presentations and recruitment drives on campus, so put yourself out there and make use of these opportunities to show off your passion for the field.
✨Get Certified
Consider pursuing relevant certifications like the CFA or ACCA while you’re job hunting. They not only beef up your CV but also connect you with professional bodies which can lead to networking opportunities and even job openings in banking and financial services.
✨Connect on Professional Platforms
Join finance-focused groups on platforms like LinkedIn and engage in discussions. This can really help you stand out from the crowd, allowing potential employers to see your knowledge and interest in industry trends. Plus, you might stumble upon job postings shared exclusively within the group.
✨Apply Directly and Be Proactive
Don’t shy away from reaching out directly to firms like Banco Santander. Use their websites and apply through them, but also consider following up with a polite email to express your enthusiasm. Being proactive can make a huge difference in getting noticed in the competitive financial services sector.
We think you need these skills to ace Associate/Vice President - Inflation Quant | SCIB in London
Some tips for your application 🫡
Show Off Your Numbers!:In the banking and financial services world, quantifiable achievements are key. Make sure your CV highlights your grades in relevant subjects, any financial certifications you hold, and specific projects where you've delivered measurable results. Employers love to see how your skills translate into real-world success.
Tailor Your Cover Letter to the Role:When applying for a full-time position, your cover letter should make a direct connection between your experience and the job description. Don't just state your enthusiasm for finance—dive into how your background in banking or financial analysis sets you apart. Let your passion shine through while being specific about what you can bring to Banco Santander.
Include Relevant Financial Software Experience:If you've worked with financial modelling tools or software like Excel, SAP, or specific analytical tools during your studies or internships, bring that up! Highlighting your proficiency can really make your application pop and show you're ready to hit the ground running in a full-time role.
Research and Reflect:Before hitting that 'apply' button on Banco Santander's website, do a little digging. Look up their recent projects, values, and culture. Reflecting their ethos in your application can make a huge difference and show you’re genuinely interested in being part of the team!
How to prepare for a job interview at Banco Santander
✨Brush Up on Financial Analysis Skills
Make sure you're well-versed in financial concepts and analytical techniques relevant to banking and financial services. Get comfortable with tools like Excel for modelling or financial forecasting, as technical questions in this area are common during interviews with Banco Santander.
✨Prepare for Case Studies
Expect to tackle case studies that demonstrate your problem-solving skills in real-world banking scenarios. Familiarise yourself with the types of problems you might face—think risk assessments or investment evaluations—and be ready to articulate your thought process clearly.
✨Show Your Passion for Finance
Since this is a full-time position, employers at Banco Santander will be keen to see your genuine interest in finance. Be prepared to discuss recent industry trends or news articles that excite you, showcasing your enthusiasm and engagement with the field.
✨Network with Industry Professionals
Before your interview, reach out to current or former Banco Santander employees on platforms like LinkedIn. They'll offer unique insights into the company's culture and the interview process, which can give us a delightful edge in showcasing a good fit for the team.
