SCIB Analyst, Securities Finance

Santander USA; Greater London; On-site; GBP 40,000 - 60,000; Full time

Job summary

A global financial services provider is seeking a motivated Junior Repo Trader for its London office. This role offers a pathway to becoming an independent trader, with responsibilities in daily repo trading, balance sheet management, and client interaction. Ideal candidates will have strong numerical and analytical skills, and a passion for financial markets. Excellent communication and teamwork abilities are essential. A competitive salary and tailored benefits package are part of the offer.

Benefits

Discretionary performance-related annual bonus

Pension contributions up to 12.5%

27 days holiday plus bank holidays

Company funded individual private medical insurance

Voluntary healthcare benefits

Share investment options

Qualifications

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

Responsibilities

• Assist in daily trading of bilateral and triparty repo.
• Support analytics related to balance sheet usage and funding cost optimisation.
• Assist senior traders with daily P&L and inventory optimisation.

Skills

Numerical analysis

Market understanding

Communication skills

Attention to detail

Collaborative teamwork

Proficiency in Excel

Tools

Bloomberg

Python

VBA

Job description

Business area introduction

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

1. Repo & SLB Trading

• 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.

2. 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.

3. Risk Management & Controls

• 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.

4. Client & Sales Interaction

• 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.

5. Market Intelligence & Analytics

• 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.

Whatwe’relooking 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, convenientlylocatedwithin walking distance from Euston Station and Warren Street Station.

Howwe’llreward you

As well as a competitive salary,you’llenjoy 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 theoptiontopurchaseup 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 cashplanand 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 ourwebsite.

Equal Opportunities

Santanderarean equal opportunities employer. When we talk about diversity, wedon’tjust want to pay lip service. Our customers come from a wide range of backgrounds, and so do our people.It’simportant to us that we create an inclusive culture where everyone counts, and we particularly welcome applications from different underrepresented groups.

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

What to do next

If this sounds like a roleyou’reinterested in, then please apply on the link.

Due to high volume ofapplicationswe may need to close this role earlier than the advertised date, so recommendsubmittingan applicationas soon as possible.