Analyst, Securities Finance

Santander Corporate & Investment Banking; England; On-site; GBP 45,000 - 60,000; Full time

Benefits offered by this job

Discretionary performance-related bonus

Pension with up to 12.5% contributions

27 days holiday plus bank holidays

Company funded private medical insurance

Voluntary healthcare benefits

Job summary

A leading financial services firm in the UK seeks a Junior Repo Trader for their London office, ideal for a motivated individual keen to develop into an independent repo trader. Responsibilities include supporting daily trading activities and managing collateral. Applicants should possess strong analytical and numerical skills, a solid understanding of market structures, and proficiency in Excel. This opportunity provides growth potential in a fast-paced environment backed by a competitive salary and comprehensive benefits package.

Qualifications

• Prior experience in a front-office, treasury, or financing-related role.
• Strong interest in markets, particularly money markets or fixed income.
• Good understanding of fixed income products and repo mechanics.

Responsibilities

• Assist in daily trading of bilateral and triparty repo.
• Support SLB desk with lending/borrowing and collateral transactions.
• Contribute to pricing, trade execution, and term structure analysis.

Skills

Numerical skills

Analytical skills

Problem-solving skills

Communication skills

Attention to detail

Collaborative team member

Curiosity

Tools

Excel

Bloomberg

Python

VBA

Job description

Santander’s Global Securities Financing business is seeking a highly motivated Junior Repo Trader to join the London Securities Lending & Borrowing (SLB) & Repo Trading Desk. This role is ideal for an ambitious individual who wants to develop into an independent repo trader, covering Gilts, EuroGovs, and SSAs, while supporting securities lending and collateral transformation activities.

The successful candidate will work closely with senior traders, risk, treasury, and sales teams, gaining exposure to balance sheet optimisation, liquidity regulation (LCR & NSFR), and client franchise development across the Santander Global markets platform.

This role provides a clear pathway toward becoming an independent repo/SLB trader, with exposure to:

• Global SecFin trading activities
• Balance sheet and liquidity management
• Fixed‑income market structure
• Client and sales engagement
• Cross‑border coordination with European and US desks

Key activities

• Assist in daily trading of bilateral and triparty repo across Gilts, EuroGovs and SSA collateral.
• Support the SLB desk with lending/borrowing transactions, collateral upgrades, and collateral transformation trades.
• Help manage the short‑term funding profile and collateral inventory.
• Contribute to pricing, trade execution, and term structure analysis.
• Develop the ability to independently manage portions of the repo/SLB book over time.

Balance Sheet & Liquidity Management

• Support analytics and decision‑making related to balance sheet usage, RWA consumption, and funding cost optimisation.
• Learn how repo interacts with LCR, NSFR, and internal liquidity metrics.
• Coordinate with Treasury and Risk to ensure trades comply with internal constraints and optimise the bank’s resources.
• Assist senior traders with daily P&L, exposure monitoring, and inventory optimisation.
• Ensure adherence to trading limits and internal control frameworks.
• Maintain accurate booking of trades and support query resolution with Middle Office and Operations.
• Provide pricing support to SecFin Sales and broader Santander Markets teams.
• Help deliver repo liquidity and collateral solutions for franchise clients.
• Assist in growing revenue with existing clients and identifying new client opportunities.
• Monitor short‑term rates markets, GC/SC dynamics, specials, and collateral scarcity.
• Contribute to daily commentary, market colour and trade idea generation.
• Participate in development of desk tools, dashboards, and reporting.

What we’re looking for

• Prior experience in a front‑office, treasury, or financing‑related role
• Strong interest in markets, particularly money markets, securities financing or fixed income.
• Excellent numerical, analytical, and problem‑solving skills.
• Good understanding of fixed income products, repo mechanics, and market drivers.
• Ability to work in a fast‑paced trading environment with high attention to detail.
• Strong communication skills and the ability to build relationships across teams.
• Proficiency in Excel; familiarity with Bloomberg is advantageous
• Understanding of bank liquidity metrics (LCR/NSFR) or balance sheet constraints.
• Programming skills (Python/VBA) helpful but not required.
• Ambitious and eager to develop into an independent trader.
• Collaborative team member with a “hands‑on” attitude.
• Curious, proactive and willing to take ownership of tasks.
• Commercial mindset with a strong commitment to risk culture.

What else you need to know

This role is based in our Triton Square office in London, conveniently located within walking distance from Euston Station and Warren Street Station.

How we’ll reward you

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
• Pension with generous contributions of up to 12.5% from Santander, depending on your own contribution and length of employment with us
• 27 days holiday plus bank holidays, 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, healthcare cash plan and health assessments
• Benefits supporting you and your family, such as death‑in‑service benefit, income protection, and voluntary life assurance and critical illness cover
• Share in Santander’s success by investing in our Sharesave and Partnership shares plans

For more information about our wide range of benefits and family friendly policies visit our website.

Santander are an equal opportunities employer. When we talk about diversity, we don’t just want to pay lip service. Our customers come from a wide range of backgrounds, and so do our people. It’s important to us that we create an inclusive culture where everyone counts, and we particularly welcome applications from different under‑represented groups.

For more information on our commitment to equal opportunities, please visit our diversity page.

What to do next

If this sounds like a role you’re interested in, then please apply on the link.

Due to high volume of applications we may need to close this role earlier than the advertised date, so recommend submitting an application as soon as possible.

Seniority level

Associate

Employment type

Full‑time

Job function

Finance

Industries

Financial Services, Banking, and Investment Banking