Deposit Sales Dealer recruitment
Join Santander and you'll become a vital part of a business built on the outstanding service provided to our customers, as well as the award-winning products we offer. We're one of the fastest growing banks in the UK and that is down to our people. And we recognise that as we help you develop your career you'll be doing the same for our business.
A team of six Deposit Sales staff plus a manager will work on this desk. In this role you will maintain frequent telephone and some personal contact with the customer base and induce them to deposit with San UK/ANTS or to buy Certificates of Deposit (CDs) or Commercial Paper (CP) at as long a tenor, and as low a rate, as possible to enable San UK to fund itself prudently and to comply with FSA regulatory liquidity requirements and the Board's internal liquidity risk appetite. The desk will be set Budgets for volume, rate and tenors as well as targets for expanding and diversifying the counterparty base both by counterparty type and currency. Concentration limits will also apply to the desk's activity.
The initial product range will be Term Deposits, Call Accounts and CD and CP issuance. The primary currencies involved are GBP, EUR and USD, though these are likely to expand as the incremental requirements of the former RBS customer base come on Board under project Rainbow.
The role reports directly to the Manager of the Deposit Sales Desk, who in turn reports to the Director of Funding.
Santander UK
The Santander Group has more than 150 years' experience in global banking and more branches worldwide than any other international bank. We are well on the way to repeating this success in the UK, having been named 'Best UK Bank' by Euromoney for the third year running and 'Best UK Bank' by The Banker for the second successive year in 2010.
As a Deposit Sales Dealer your skills and qualifications will ideally include:
- Proven track record of experience in a similar wholesale money markets role
- Good understanding of the settlement process so that potential issues can be identified and averted
- A provable track record in achieving targets and budgets
- Strong understanding of the main global money markets
- Understanding of Term Deposits, Call Accounts and CD and CP issuance
- Background in international and cross border money markets and be familiar with central banks, sovereign wealth funds, banks, fund managers and other financial institutions as well as major corporates and public bodies including local authorities
- A long list of contacts in relevant positions at real money counterparties and customers including Banks, Central Banks, Sovereign Wealth Funds and Fund Managers
- Strong understanding of the legal, regulatory and compliance requirements associated with the wholesale money markets
- Ability to absorb and express the strengths of the Santander Group and of Santander UK in particular from report and accounts and internal briefings by investor relations and from this and other input to be in a position to speak with confidence in front of counterparties and customers within the realms of confidentiality (recognising closed periods and insider dealing regulations and laws)
Desirable Experience Skills
- At least one European language
- An understanding of the latest FSA liquidity rules
- Experience of the Wall Street system
As a Deposit Sales Dealer your main responsibilities will involve:
- To strive to meet or exceed the desk's and the individual's liability budgets for volume, tenor, rate, and currency mix
- To expand and diversify the customer base
- To ensure the San UK and ANTS names are well regarded in all markets
- To provide market colour and interpretations to the desk manager as input to your negotiations with the ALM division which is responsible for setting the Bank's pricing curve in conjunction with the manger of Operational Liquidity Management. This is to ensure the desk is competitively priced to achieve its budget and thereby for the bank to achieve its funding plans and desired liquidity metric targets
- To remain within the various desk and personal limits, constraints and rules that will be in force as a result of the business being undertaken
- To ensure your own bookings are correct so that the relevant Management Information can be produced for the desk in a timely and accurate manner
- To maintain excellent working relationships with the various support areas upon which the desk will rely, and with the control functions
- To keep up with latest developments in money markets and to ensure the Desk Manager is appraised of market conditions and developments and their possible implications for the funding and liquidity management of Santander UK
- To compile Management Information and commentary for distribution to various formal committees and senior management
Location: London
Santander welcomes applications from all sections of the community.
