VP Market Risk Quantitative Analyst

VP Market Risk Quantitative Analyst

Country: United States of America

Your Journey Starts Here:

Santander is a global leader and innovator in the financial services industry. We believe that our employees are our greatest asset. Our focus is on fostering an enriching journey that empowers you to explore diverse career opportunities while nurturing your personal growth. We are committed to creating an environment where continuous learning and development are prioritized, enabling you to thrive both professionally and personally. Here, you will find ample opportunities to connect and collaborate with talented colleagues from around the world, sharing insights and driving innovation together. Join us at Santander, where you are supported by a culture of engagement and a commitment to your success.

An exciting journey awaits, if you are interested in exploring the possibilities We Want to Talk to You!

The Difference You Make:

Santander Capital Markets is a leading financial institution with a strong presence on Wall Street. We are committed to delivering innovative financial solutions and maintaining robust risk management practices. Our Market Risk team plays a critical role in ensuring the stability and integrity of our financial operations.

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, derivative pricing models – Interest Rates, Credit, FX, option pricing, etc. stochastic calculus modeling, along with a deep understanding of market risk measures and regulatory requirements.

This role requires proficiency in programming languages like Python, R, MATLAB, and 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 and document risk management and financial modeling initiatives.

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).

What You Bring: 
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions

Master's or Ph.D. in a quantitative field such as Finance, Physics, Mathematics, Statistics, Computer Science, Quantitative Finance or a related discipline with a modeling background. - Required

5+ Years of working experience with 3+ years of experience in trading market risk model development and/or validation within the financial services industry is highly desired.

• Experience with pricing and risk models for fixed income trading products – derivative pricing – interest rates, credit, FX, options pricing, etc.
• Deep understanding of market risk measures, concepts, and regulatory rules: VaR, Greeks, and Model Validation Testing (SR 11-7), AVA, FVA,