Linear Rates Quant (Associate Level)

Linear Rates Quant (Associate Level) – Madrid

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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. It’s a chance for driven professionals to grow, learn, and make a real difference. Our mission is to help more people and businesses prosper. We embrace a strong risk culture and expect all professionals at all levels 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 customised services and value‑added wholesale products to best meet their needs.

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.

Responsibilities

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• 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
Professional Experience

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

Education

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• 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

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• English. (Required)
  
• Spanish. (Preferred)
  

Hard Skills

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• 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 optimisation, numerical robustness, testing frameworks, and production support/monitoring in front‑office analytics platforms. (Preferred)
  

Soft Skills

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• 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 prioritise effectively in a fast‑paced environment.
  

We Value Your Impact

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• Global opportunity and broad career paths.
  
• Hybrid working model – remote and on‑site days with flexible hours.
  
• Learning for life – access hundreds of courses on our platforms, including exclusive access to Santander Open Academy.
  
• Competitive rewards – highly competitive salary with performance‑based bonuses.
  
• Financial advantages – preferential banking terms, special rates on loans, life insurance, and more.
  
• Well‑being – global wellness programme (BeHealthy) promoting holistic wellbeing.
  
• Family‑friendly programmes – childcare support and tailored programmes for each life stage.
  
• Additional benefits – gym membership, medical centres, meal subsidy, parking, shuttle service, exclusive discounts and offers for Santander employees.
  

Local Compliance

Santander is proud of an organisation that provides equal opportunities regardless of age, gender, disability, civil status, race, religion or sexual orientation. xghoner We are committed to providing an inclusive and accessible application process for all candidates.

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