Linear Rates Quant (Associate Level)

Linear Rates Quant (Associate Level)

Country: España

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 CIB is looking for a Linear Rates Quant (Associate Level) based out of Madrid.

The Front Office Quant area is in charge of the development of the pricing and risk models, as well as the pricing tools for Sales and trading teams. As part of the “Linear Rates & Inflation Products Quants” team, the focus of this position will be on the development of the pricing libraries for Linear Rates models as well as the curves library.

We are looking for a talented and motivated Inflation Quantitative Analyst to join our Quantitative Products team. The successful candidate will focus on the development, implementation, and maintenance of pricing analytics and curve construction frameworks for Linear products, with a particular emphasis on Bonds pricing. This is a high-impact role working at the intersection of research, technology, and trading.

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:

• Develop, implement, and maintain pricing analytics for Linear Rates and Inflation products, with a focus on swaps and bonds.

• Contribute to the build-out of the new linear quant library in Rust and its Python APIs for front-office usage.

• Maintain and enhance legacy C++ pricing components, and support migration/interoperability between C++ and Rust libraries.

• Design and improve curve construction frameworks used in pricing and risk.

• Partner closely with Trading, Sales, Structuring, and Technology to deliver robust, production-ready analytics and tools.

• Investigate pricing/risk discrepancies, perform root-cause analysis, and deliver high-quality fixes under business timelines.

• Support model governance through testing, documentation, and validation-oriented deliverables.

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

• 2–5 years of relevant experience in Front Office Quant, Quant Developer, or Financial Engineering roles in Rates and/or Inflation. (Required)

• Hands-on experience delivering pricing analytics and/or curve construction for linear fixed-income products (e.g., swaps, bonds) in production environments. (Required)

• Experience modernizing quant libraries (e.g., introducing new libraries/APIs while supporting legacy codebases) in collaboration with trading and technology teams. (Preferred)

Education

• Master’s degree in a quantitative discipline such as Quantitative Finance, Financial Engineering, Mathematics, Physics, Statistics, or Computer Science. (Required)

• PhD in a quantitative field and/or relevant industry certifications (e.g., CQF, FRM) (Preferred)

Languages

• English (Required)

• Spanish (Preferred)

Hard Skills

• Strong software engineering skills in Rust and Python (including API design/integration), plus solid C++ knowledge to support and evolve legacy quant libraries (Required)

• Strong understanding of fixed-income quantitative methods: curve bootstrapping/construction, discounting/forwarding frameworks, and pricing/risk of linear rates and inflation products. (Required)

• Experience with performance optimization, numerical robustness, testing frameworks, and production support/monitoring in front-office analytics platforms. (Preferred)

Soft Skills

• Excellent communication skills, with the ability to explain quantitative and technical topics clearly to traders, quants, and engineers.

• Strong collaboration skills and a pragmatic, team-oriented approach across Front Office, Risk, and Technology stakeholders.

• High ownership, attention to detail, and problem-solving mindset, with the ability to prioritize effectively in a fast-paced environment.

WE VALUE YOUR IMPACT

Your contribution matters, and it’s recognized. 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 enable 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)

• 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. And that’s only the beginning—we’ll tell you more when you join!

We’re here to keep you motivated, help you reach your goals, and celebrate your progress, every step of the way.

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.

WHAT TO DO NEXT

If this sounds like a role you are interested in, then please apply.

READY TO TAKE THE NEXT STEP IN YOUR JOURNEY?

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