Algorithmic Credit Trader

Algorithmic Credit Trader (Quantitative Credit Trading) Country: España IT STARTS HERE 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. 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 is looking for an Algorithmic Credit Trader (Quantitative Credit Trading) based out of Madrid . 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:

• Design, build, and maintain proprietary in-house databases and data infrastructure to support systematic credit trading activities.
• Develop, implement, and continuously enhance algorithmic trading strategies across cash bonds, CDS, indices, ETFs, and other credit products.
• Establish and manage an independent two-sided algorithmic market-making and trading book across DM and EM credit markets.
• Research, develop, and deploy multi-factor quantitative models to identify trading opportunities and generate alpha within systematic credit strategies.
• Integrate alternative datasets, market microstructure signals, liquidity metrics, and fundamental indicators into trading models.
• Build pricing engines, risk management frameworks, portfolio analytics, relative value tools, liquidity analysis, client analytics, and execution management capabilities.
• Monitor and optimize execution quality, transaction costs, and overall trading performance across electronic and voice trading channels.
• Manage a highly granular profit and loss (P&L) framework, ensuring detailed attribution, risk transparency, and efficient capital deployment.
• Develop advanced risk analytics and portfolio visualization tools to monitor exposures by region, sector, tenor, liquidity profile, and other relevant risk factors.
• Partner closely with technology, quantitative research, data science, and risk management teams to enhance trading infrastructure and strategy scalability.
• Support market access initiatives, including onboarding electronic trading venues, inter-dealer brokers, and liquidity providers.
• Contribute to new issue trading, portfolio trading capabilities, ETF market-making activities, and primary market operations where relevant.
• Ensure adherence to regulatory requirements, risk limits, and governance standards.

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

• 10 yr experience in Algo trading in EUR credit

Education

• Advanced degree in Quantitative Finance, Mathematics, Statistics, Physics, Engineering, Computer Science, or a related quantitative discipline.

Languages

• English (Required)

Required Qualifications

• Advanced degree in Quantitative Finance, Mathematics, Statistics, Physics, Engineering, Computer Science, or a related quantitative discipline.
• Strong experience in systematic, algorithmic, or electronic trading, preferably within credit markets.
• Deep understanding of fixed income and credit products, including cash bonds, CDS, credit indices, ETFs, and portfolio trading solutions.
• Proven experience developing quantitative models and factor-based investment or trading strategies.