Algorithmic Credit Trader (Quantitative Credit Trading)

Santander Group; España; Híbrido; EUR 120 000 - 180 000; Tempo integral

Vantagens oferecidas por esta oferta de emprego

Gym / WellHub membership

Meal subsidy

Shuttle service Madrid

Exclusive discounts for Santander"

Resumo da oferta

Santander Group is seeking an Algorithmic Credit Trader (Quantitative Credit Trading) based in Madrid. You will design and maintain data infrastructure, develop algorithmic strategies across cash bonds, CDS, ETFs, and indices, and manage a two-sided market-making book across DM/EM credit markets.

You will build multi-factor models, integrate alternative datasets, and collaborate with tech, data science, and risk teams to optimize trading and risk metrics. English required.

Qualificações

• Advanced degree in quantitative discipline as listed.
• Strong experience in systematic, algorithmic or electronic trading, preferably in credit markets.
• Deep understanding of fixed income and credit products (cash bonds, CDS, ETFs).
• Proven experience developing quantitative models and factor-based strategies.
• Strong Python programming and large data handling skills.
• Knowledge of market microstructure and statistical modeling.
• Experience building pricing engines, risk analytics, and trading platforms.

Responsabilidades

• Design, build and maintain in-house data infrastructure for systematic credit trading.
• Develop and enhance algorithmic trading strategies across multiple credit products.
• Establish a two-sided algorithmic market-making and trading book across DM/EM markets.
• Develop multi-factor models to identify trading opportunities and alpha.
• Integrate alternative data, signals, liquidity metrics into trading models.
• Build pricing engines, risk tools, analytics, and execution capabilities.
• Monitor execution quality and costs across electronic and voice channels.
• Manage P&L framework with transparency and risk controls.
• Develop risk analytics and portfolio visualization for regional exposures.
• Collaborate with tech, data science, risk, and research teams to scale strategies.
• Support onboarding of venues and liquidity providers; contribute to primary markets.

Conhecimentos

Python programming

Algorithmic trading

Data analysis

Quantitative finance

Communication

Formação académica

Advanced degree in Quantitative Finance, Mathematics, Statistics, Physics, Engineering, Computer Science, or related quantitative discipline

Ferramentas

Bloomberg Terminal

Bloomberg Data License

TOMS

KDB

Grafana

Descrição da oferta de emprego

Algorithmic Credit Trader (Quantitative Credit Trading)

Country: Spain IT STARTS HERE Santander (www.santander.com) is evolving from a global, high-impact brand into a technology-driven organization, and our people are at the heart of this journey. Together, we are driving a customer-centric transformation that values bold thinking, innovation, and the courage to challenge what’s possible. This is more than a strategic shift. It’s a chance for driven professionals to grow, learn, and make a real difference. Our mission is to contribute to help more people and businesses prosper. We embrace a strong risk culture and all our professionals at all levels are expected to take a proactive and responsible approach toward risk management. Santander Corporate & Investment Banking (Santander CIB) is Santander's global division that supports some of the world’s most complex and sophisticated corporate and institutional clients, offering customized services and value-added wholesale products to best meet their needs.

The difference you make

SANTANDER is looking for an Algorithmic Credit Trader (Quantitative Credit Trading) based out of Madrid. We’re shaping the way we work through innovation, cutting-edge technology, collaboration and the freedom to explore new ideas.

To succeed in this role, you will be responsible for:

• Design, build, and maintain proprietary in-house databases and data infrastructure to support systematic credit trading activities.
• Develop, implement, and continuously enhance algorithmic trading strategies across cash bonds, CDS, indices, ETFs, and other credit products.
• Establish and manage an independent two-sided algorithmic market-making and trading book across DM and EM credit markets.
• Research, develop, and deploy multi-factor quantitative models to identify trading opportunities and generate alpha within systematic credit strategies.
• Integrate alternative datasets, market microstructure signals, liquidity metrics, and fundamental indicators into trading models.
• Build pricing engines, risk management frameworks, portfolio analytics, relative value tools, liquidity analysis, client analytics, and execution management capabilities.
• Monitor and optimize execution quality, transaction costs, and overall trading performance across electronic and voice trading channels.
• Manage a highly granular profit and loss (P&L) framework, ensuring detailed attribution, risk transparency, and efficient capital deployment.
• Develop advanced risk analytics and portfolio visualization tools to monitor exposures by region, sector, tenor, liquidity profile, and other relevant risk factors.
• Partner closely with technology, quantitative research, data science, and risk management teams to enhance trading infrastructure and strategy scalability.
• Support market access initiatives, including onboarding electronic trading venues, inter-dealer brokers, and liquidity providers.
• Contribute to new issue trading, portfolio trading capabilities, ETF market-making activities, and primary market operations where relevant.
• Ensure adherence to regulatory requirements, risk limits, and governance standards.

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 organization. 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. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Professional Experience

10 yr experience in Algo trading in EUR credit

Education

Advanced degree in Quantitative Finance, Mathematics, Statistics, Physics, Engineering, Computer Science, or a related quantitative discipline.

Languages

English (Required)

Required Qualifications

• Advanced degree in Quantitative Finance, Mathematics, Statistics, Physics, Engineering, Computer Science, or a related quantitative discipline.
• Strong experience in systematic, algorithmic, or electronic trading, preferably within credit markets.
• Deep understanding of fixed income and credit products, including cash bonds, CDS, credit indices, ETFs, and portfolio trading solutions.
• Proven experience developing quantitative models and factor-based investment or trading strategies.
• Strong programming skills in Python and experience working with large datasets, database architectures, and market data APIs.
• Solid knowledge of statistical modeling, machine learning techniques, and financial market microstructure.
• Demonstrated experience building pricing engines, risk management systems, and trading analytics platforms.
• Proven ability to manage large and complex credit risk portfolios, including market-making books with significant balance sheet and risk exposure.
• Experience trading and hedging credit products using instruments such as CDS indices, ETFs, and cash bonds.
• Strong understanding of electronic trading venues and market structure across developed and emerging credit markets.

Preferred Skills

• Experience building end-to-end quantitative trading platforms and systematic trading infrastructure.
• Knowledge of cloud-based data and computing environments.
• Familiarity with electronic market-making, automated execution frameworks, and liquidity provision strategies.
• Experience with Bloomberg Terminal, Bloomberg Data License, TOMS, KDB, Grafana, and other trading and analytics technologies.
• Experience onboarding trading venues and broker relationships, including platforms such as MarketAxess, Bloomberg, Tradeweb, and major inter-dealer brokers.
• Knowledge of ETF primary market processes, creation/redemption workflows, and authorized participant activities.
• Strong communication skills and the ability to collaborate across trading, quantitative, technology, risk management, and client-facing teams.

We value your impact

You can expect a fair, competitive reward package that reflects the impact you create and the value you deliver. But we know rewards go beyond numbers. We’re enabling our teams to go beyond through global opportunities and broad career paths. Flexibility that works. Enjoy a hybrid working models—some days remote, some days onsite with your team—along with flexible hours. Learning for life. Access hundreds of courses on our platforms, including exclusive access to our global learning space: Santander Open Academy (www.santanderopenacademy.com).

Benefits and perks

• Competitive rewards. Receive a highly competitive salary with performance-based bonuses, motivating you to keep growing with us.
• Financial advantages. Benefit from preferential banking terms, special interest rates on loans, life insurance, and more.
• Your health is our priority. Through BeHealthy, our global wellness programme, we promote Holistic wellbeing.
• We know family is everything. That’s why we offer childcare support and family-friendly programmes tailored to each life stage.
• Always by your side. Get access to Santander Contigo, our program for employees and their families offering legal, emotional, and administrative advisory services.
• Extra benefits. Gym/WellHub membership, medical centers in some of our facilities, meal subsidy, parking, shuttle service from various points in Madrid, as well as exclusive discounts and offers for Santander employees.

Local compliance

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.