Associate/VP, Credit Repo Trader | SCIB

Santander UK; Greater London; On-site; GBP 120,000 - 170,000; Full time

Benefits offered by this job

Discretionary bonus

Pension contribution 8%

Private medical insurance

Family health benefits

Life insurance & income protection

Share save plan

Job summary

Santander Corporate & Investment Banking (SCIB) in London seeks an entrepreneurial Credit Repo Trader to help build a dedicated Credit Repo franchise within our global Securities Finance business. The role blends trading with client engagement and franchise development across IG, HY and EM credit.

Ideal candidate combines trading expertise with commercial initiative, develops financing relationships, and drives opportunities while shaping a scalable operating model for Santander’s credit repo

Qualifications

• Experience in repo, securities finance, fixed income financing or related markets.
• Understanding of financing markets and collateralised trading products.
• Experience interacting with clients and market counterparties.
• Strong risk management skills and market structure knowledge.
• Bachelor’s or Master’s degree in Finance, Economics, Mathematics, Engineering or related field.

Responsibilities

• Executing repo and reverse repo transactions across IG, HY and EM securities.
• Delivering long and short financing solutions to clients and internal desks.
• Developing solutions for hard-to-borrow and less liquid securities.
• Monitoring financing spreads, collateral scarcity and market opportunities.
• Building relationships and expanding Santander’s financing franchise.

Skills

Repo/Securities Finance

Credit Trading

Risk Management

Client Engagement

Market Structure

Entrepreneurial Mindset

Cross-Region Experience

Education

Finance/Econ/Math degree

Tools

Financial Markets Knowledge

Job description

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.

Country: United Kingdom

We’re seeking an entrepreneurial Credit Repo Trader to help build and develop a dedicated Credit Repo franchise within our global Securities Finance business. This is not just an execution-trading role, you’ll contribute to the growth of the franchise by developing financing relationships, originating business opportunities, expanding short-covering capabilities and helping establish Santander as a financing partner across credit markets. The role spans Investment Grade, High Yield and Emerging Market credit and combines trading, client engagement and franchise development. You’ll work alongside colleagues in London, Madrid and New York, and will help shape the future operating model of Santander's Global Credit Repo business. This is a unique opportunity for an individual who enjoys learning, building businesses, developing client relationships and creating commercial opportunities rather than simply managing an established trading book.

Credit Financing and Trading

• Executing repo and reverse repo transactions across Investment Grade, High Yield and Emerging Market securities primarily in hard currency
• Delivering long and short financing solutions to clients and internal trading desks
• Developing solutions for hard-to-borrow and less liquid securities
• Monitoring financing spreads, collateral scarcity and market opportunities

Client and Franchise Development

• Developing relationships with hedge funds, asset managers, banks and broker dealers
• Identifying financing opportunities and convert them into sustainable client activity
• Expanding Santander's ability to provide short-covering and financing solutions
• Generating financing ideas and market intelligence for clients and internal stakeholders

Inventory, Balance Sheet and Short-Cover Solutions

• Improving utilisation of credit inventory across desks and regions in follow the sun model
• Supporting internal and external short-cover requirementsIdentifying opportunities to reduce external borrowing costs and improve financing efficiency
• Assisting in optimise balance sheet, collateral and liquidity resources

Business Expansion and Strategic Development

• Working with Risk, Credit, Treasury, Legal and Compliance to support the continued growth of the Credit Repo franchise
• Supporting the evolution of internal frameworks required to expand Credit Repo activity in a controlled manner
• Contributing ideas that enhance Santander's competitiveness in Credit Repo and financing markets

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. We are seeking a commercially minded markets professional who wants to help build a business rather than simply execute an existing one. The ideal candidate will combine trading expertise with client engagement and commercial initiative. The following requirements represent the knowledge, skills, and abilities essential for success in this role.

• Experience in repo, securities finance, fixed income financing, credit trading, prime financing or a related markets activity
• In depth understanding of financing markets and collateralised trading products
• Previous experience of interacting directly with clients and market counterparties
• Excellent knowledge of risk management and market structure
• Bachelor's or Master's degree, or equivalent, in Finance, Economics, Mathematics, Engineering or a related discipline
• Strong commercial instincts
• Proven ability to identify and develop new business opportunities
• Entrepreneurial mindset and willingness to take ownership
• Disciplined approach to risk management

It would also be nice for you to have:

• CFA, FRM or similar qualifications
• Experience financing Investment Grade, High Yield or Emerging Market credit products
• Experience working with hedge funds and institutional investors
• Understanding of securities borrowing and lending markets
• Familiarity with inventory management and short-covering activity
• Experience working across multiple regions and currencies
• Existing market relationships that could contribute to franchise development

What else you need to know:

Join Santander at a formative stage of the Global Credit Repo franchise. This role offers direct exposure to clients, trading, financing, inventory optimisation and strategic business development. The successful candidate will have the opportunity to help shape the future direction of Santander's Credit Repo business while contributing to the development of a broader global Securities Finance platform. 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 5yrs 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.

Benefits

Learn more about our benefits and family friendly policies