Vice President, Quantitative Analyst – FX Options | SCIB

Banco Santander SA; Greater London; On-site; GBP 150,000 - 230,000; Full time

Job summary

Banco Santander SA in London seeks a Vice President, Quantitative Analyst – FX Options to develop and maintain FX pricing and risk models in the Quants group.

The role collaborates with traders, sales and risk teams globally, focusing on model libraries, API design, and advanced pricing techniques. Candidates should have strong programming skills and a PhD or MSc in a mathematical field, with extensive FX experience.

Qualifications

• Experience in a similar quantitative role.
• Deep knowledge of Foreign Exchange products and valuation.
• Strong programming skills in C++ and Python.
• Advanced degree in a mathematical field.
• Ability to explain modelling assumptions and risk implications.
• Familiarity with stochastic volatility models and PDE pricing is a plus.

Responsibilities

• Develop derivatives pricing models for FX.
• Extend existing models to include interest rate volatility risk.
• Design and implement pricing and risk libraries.
• Develop efficient risk framework to represent risks.
• Design and extend APIs for pricing libraries.
• Develop and optimize algorithms.
• Refine quants framework and tools to high standards.
• Assist testing of quantitative libraries.
• Provide documentation to internal stakeholders.
• Support trading, sales and risk teams.

Skills

C++ & Python

FX products knowledge

Options pricing theory

Quantitative modelling

Problem solving

Interpersonal skills

Education

MSc or PhD in math/related

PhD in relevant field

Job description

Vice President, Quantitative Analyst – FX Options | SCIB Country: United Kingdom

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. The Front office Quant area is responsible of the development of the pricing and risk models for Sales and trading teams. FX Options is a Global business that requires support in locations around the world. As part of the FX Quants team, you’ll focus on the development, extension and maintenance of the FX model libraries. You’ll interact with traders and sales in other international offices to explain modelling assumptions and risk implications and to understand the practical use of the models. You’ll also work closely with local quant groups in other geographies to provide seamless coverage and support.

The difference you’ll make

• Being part of the FX Quants group focused on the development of derivatives models
• Contributing to the extension of existing models to improve interest rate to include interest rate volatility risk
• Designing and implementing our pricing and risk libraries for the scope of our existing and prospective FX products
• Developing an efficient risk framework to represent the risks by making use of advance techniques
• Designing and extending the APIs for our pricing libraries
• Developing and optimising algorithms
• Refining existing quants framework and quantitative tools to meet highest quality standards
• Assisting with the development, improvement, and maintenance of the testing process in our quantitative libraries and tools
• Providing mathematical and technical documentation to internal stakeholders
• Supporting Trading, Sales and Risk teams

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. The following requirements represent the knowledge, skills, and abilities essential for success in this role.

• Previous experience in a similar quantitative role
• In-depth knowledge of Foreign Exchange products and valuation
• Excellent programming skills in C++ and Python
• Higher qualification in a relevant mathematical based degree
• An excellent problem solver who can contribute with innovative ideas
• Knowledge of options pricing theory, quantitative models, probability theory and stochastic processes
• Creative thinker, with the ability to make decisions quickly, often under pressure and with limited information
• Well-developed interpersonal and communication skills

It would also be nice for you to have

• PhD in a relevant mathematical based degree
• Fluency in additional languages, especially Spanish
• Familiarity with Stochastic-Local volatility models
• Experience of implementing a PDE or Monte Carlo pricing engine

What else you need to know

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.
• Learn more about our benefits and family friendly policies.

The Santander Way Santander 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. Ready to make it happen? It starts with you. It starts here.