Associate/Vice President - Inflation Quant SCIB

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.

• 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.

• 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., NumPy, SciPy, 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: PhD in Financial Mathematics, Engineering, Applied Mathematics, Physics, Computer Science, or a related discipline.
• Optional: Hands on experience with YoY 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.

This role is based at our offices in Triton Square, London, within easy walking distance from Warren Street and Euston.

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.

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.