Market Risk VP Quantitative Analyst - Santander : Job Details

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Job Description Summary:

We are looking for a highly skilled and motivated Quantitative Analyst to join our Market Risk team. The ideal candidate will have strong technical expertise in fixed income quantitative finance and securitized product modeling, along with a deep understanding of market risk measures and regulatory requirements. This role requires proficiency in Python, R, MATLAB, or SQL, as well as the ability to develop and deliver high-quality technical documentation. The successful candidate will combine analytical rigor with programming skills to support risk management and financial modeling initiatives.

Essential Functions/Responsibilities:

Independent Model Assessment and Testing:

• Conduct qualitative and quantitative assessment of risk models, ensuring data quality, theoretical soundness, and ongoing performance testing.
• Perform independent testing of model assumptions and assess conceptual robustness.
• Utilize statistical and machine learning techniques to analyze model risks and validate outputs.
• Evaluate emerging risks, reach conclusions on strengths and limitations of the model, and provide recommendations to enhance model resilience.
• Engage in continuous dialogue with model developers, risk managers, and business stakeholders.
• Prepare detailed Model Development Documentation (MDD) to ensure regulatory compliance.

Risk Analytics & Model Development:

• Develop, test, and enhance risk analytics frameworks for new financial products.
• Implement infrastructure improvements to support new risk analytics models, including performance monitoring controls.
• Conduct quantitative research to refine model assumptions and identify areas for improvement.
• Implement model changes, enhancements, and remediation plans to align with regulatory expectations.

Stakeholder Communication & Regulatory Compliance:

• Collaborate with key stakeholders, including trading desks, IT, global and local risk management teams, and model validation units.
• Effectively communicate validation results and risk insights to both technical and non-technical audiences, including regulatory bodies.
• Ensure all models comply with internal governance and regulatory guidelines (Basel III, SR 11-7, CCAR, FRTB).

Qualifications:

• Master's or Ph.D. in a quantitative field such as Finance, Physics, Mathematics, Business, Engineering or a related discipline with a modeling background.
• 5-7+ years of experience in market risk model development and/or validation within the financial services industry is highly desired.
• Experience with pricing and risk models for fixed income products particularly securitized products, MBS, RMBS, Agency, Non-Agency, Residential, Commercial, Asset Backed Securities.
• Deep understanding of market risk measures, concepts, and regulatory rules: VaR, Greeks, and Model Validation Testing.
• Strong analytical skills required to understand quantitative models.
• Strong knowledge and understanding of the fixed income products.
• Strong analytical skills with the ability to understand and evaluate complex quantitative models.

Technical Skills:

• Hands-on experience with one or more of Python, R, MATLAB, and SQL.
• Advanced Python programming (NumPy, Pandas, SciPy).
• Statistical modeling and machine learning.
• Risk modeling frameworks, financial time series analysis.
• Strong foundation in stochastic calculus, Monte Carlo simulations, and numerical methods.
• Experience with vendors such as PolyPaths, Numerix, Bloomberg, Mortgage Data is a plus.

Soft Skills:

• Excellent communication skills to interact with trading desks, risk teams, and regulatory stakeholders.
• Excellent written and verbal communication skills, with the ability to translate complex quantitative concepts into actionable insights for senior management.

EEO Statements: At Santander, we value and respect differences in our workforce. We actively encourage everyone to apply. Santander is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, genetics, disability, age, veteran status or any other characteristic protected by law.

Working Conditions: Frequent minimal physical effort such as sitting, standing and walking. Occasional moving and lifting light equipment and/or furniture may be required. Physically capable of lifting up to fifty pounds, able to bend, kneel, climb ladders.

Employer Rights: This job description does not list all of the job duties of the job. You may be asked by your supervisors or managers to perform other duties. You may be evaluated in part based upon your performance of the tasks listed in this job description. The employer has the right to revise this job description at any time. This job description is not a contract for employment and either you or the employer may terminate your employment at any time for any reason.

What Else You Need To Know:

The base pay range for this position is posted below and represents the annualized salary range. For hourly positions (non-exempt), the annual range is based on a 40-hour work week. The exact compensation may vary based on skills, experience, training, licensure and certifications and location.

Minimum: $120,000.00 USD

Maximum: $205,000.00 USD

We are committed to providing an inclusive and accessible application process for all candidates. If you require any assistance or accommodation due to a disability or any other reason, please contact us at [email protected] to discuss your needs.