Front Office Interest Rates Quantitative Analyst - New York

Front Office Interest Rates Quantitative Analyst - New York

Country: United States of America

Your Journey Starts Here:

Santander is a global leader and innovator in the financial services industry. We believe that our employees are our greatest asset. Our focus is on fostering an enriching journey that empowers you to explore diverse career opportunities while nurturing your personal growth. We are committed to creating an environment where continuous learning and development are prioritized, enabling you to thrive both professionally and personally. Here, you will find ample opportunities to connect and collaborate with talented colleagues from around the world, sharing insights and driving innovation together. Join us at Santander, where you are supported by a culture of engagement and a commitment to your success.

An exciting journey awaits, if you are interested in exploring the possibilities We Want to Talk to You!

The main duties of the Front Office Interest Rates Quantitative Analyst are:
- Develop (and improve existing) valuation tools, models, and curve generation techniques. Work closely with traders and Global Quant teams to leverage on existing tools.
- Assist the U.S. Front Office in producing booking procedures for all products in the corporate trading platform (Murex). Give support to the trading desk on any technical requests, including, the customization corporate pricing and valuation tools and training of Front Office personnel.
- Guarantee that models used by the front office are up to US regulatory standards (SR 11-7) from a documentation, ongoing monitoring and testing standpoint. Maintain U.S. Front Office’s model inventory.

Position Duties / Responsibilities:

Model Development:

• Develop and enhance existing FO models. Cover all stages of model development including, selection and of applicable data, model theory, implementation, and ongoing monitoring.
• Produce SR 11-7 compliant documentation on models covering new and existing products. Guarantee that the Front Office models comply with the requirements in the US MRM policy.
• Produce User Acceptance Tests for new models deployed by internal developers or vendors
• Develop specifications for enhancement for internal and external developers in accordance with Market Risk’s and Front Office\ needs and priorities.

Support the trading desk with any technical or functional requests:

• Develop pricing and discounting curve building tools to be used in conjunction with valuation models. These curves should consider collateralization as well as other recent market trends.
• Produce Booking procedures for products approved for trading in US Santander business operating entities.
• Interact with global support teams to system issues. Collaborate in the testing of Murex version upgrades and Flex model version updates with testing.
• Work in coordination with global FO quants team in the implementation of new initiatives that relate to FO office models.
• Provide support to the trading desks on the corporate pricing and valuation tools. Train FO employees in the use of these tools.

Regulatory projects:

• Act as a central point of contact for any Front Office model related requests from U.S. or European regulators. Actively participate in regulatory exams.
• Participate in projects that pertain to Model Control for Market Risk, including the market risk model control program.

Education:

• Bachelor’s degree, or equivalent, in Economics, Finance, Physics, Mathematics, Statistics or in another quantitative discipline.
• MSc and/or PhD (or equivalent) in Economics, Finance, Physics, Mathematics, Statistics or in another quantitative discipline is preferred.

Work Experience and Qualifications:

• 4+ years of experience in capital markets, analytics, quantitative research, or risk management at a complex, internationally active organization.
• Hands on experience in developing valuation models for Fixed income complex products including all stages of the development process: mathematical theory/documentation, data management, testing, and implementation.
• Experience writing regulator-readable white papers, model documents, and procedures.
• Familiarity with regulations applicable to financial markets (Initial and variation Margin, FRTB, Volcker Rule, etc.). Knowledge on Model Risk Management regulations (such as SR 11-7).
• Self-driven, problem-solving skills.
• Able to work under pressure
• Proficient in more than one computer programming languages such as Python,  C++, R, Rust
• Experience with vendor valuation platforms (ideally Murex).
• CFA or FRM is a plus.

Diversity & EEO Statements: At Santander, we value and respect differences in our workforce and strive to increase the diversity of our teams. We actively encourage everyone to apply.

Santander is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, genetics, disability, age, veteran status or any other characteristic protected by law.

Working Conditions: Frequent Minimal physical effort such as sitting, standing and walking. Occasional moving and lifting equipment and furniture is required to support onsite and offsite meeting setup and teardown. Physically capable of lifting up to fifty pounds, able to bend, kneel, climb ladders.

Employer Rights: This job description does not list all of the job duties of the job. You may be asked by your supervisors or managers to perform other duties. You may be evaluated in part based upon your performance of the tasks listed in this job description. The employer has the right to revise this job description at any time. This job description is not a contract for employment and either you or the employer may terminate at any time for any reason.

What Else You Need To Know:

The base pay range for this position is posted below and represents the annualized salary range. For hourly positions (non-exempt), the annual range is based on a 40-hour work week. The exact compensation may vary based on skills, experience, training, licensure and certifications and location.

Base Pay Range

Minimum:

$150,000.00 USD

Maximum:

$250,000.00 USD

Link to Santander Benefits:

Santander Benefits - 2025 Santander OnGoing/NH eGuide (foleon.com)

Risk Culture:

We embrace a strong risk culture and all of our professionals at all levels are expected to take a proactive and responsible approach toward risk management.

EEO Statement:

At Santander, we value and respect differences in our workforce. We actively encourage everyone to apply. Santander is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, genetics, disability, age, veteran status or any other characteristic protected by law.

Working Conditions:

Frequent minimal physical effort such as sitting, standing and walking is required for this role. Depending on location, occasional moving and lifting light equipment and/or furniture may be required.

Employer Rights:

This job description does not list all of the job duties of the job. You may be asked by your supervisors or managers to perform other duties. You may be evaluated in part based upon your performance of the tasks listed in this job description. The employer has the right to revise this job description at any time. This job description is not a contract for employment and either you or the employer may terminate your employment at any time for any reason.

What To Do Next:

If this sounds like a role you are interested in, then please apply.

We are committed to providing an inclusive and accessible application process for all candidates. If you require any assistance or accommodation due to a disability or any other reason, please contact us at TAOps@santander.us to discuss your needs.