XVA Trader Associate

About the role

The XVA Trader Associate will join Santander Corporate & Investment Banking in Madrid, supporting the valuation and risk management of OTC derivatives portfolios. You will work closely with trading, sales, structuring, risk, finance and technology teams to ensure accurate pricing and robust risk controls.

Key responsibilities

• Calculate, analyse and monitor valuation adjustments (CVA, DVA, FVA, ColVA, MVA) on a daily basis.
• Manage and hedge market risk linked to counter‑party credit risk and funding exposures.
• Quote client transactions, incorporating XVA impacts into pricing.
• Collaborate with trading desks, sales, structuring, risk, finance and technology to improve valuation and pricing models.
• Analyse daily P&L results, explain variances and support risk processes.
• Develop, enhance and automate XVA pricing and reporting tools.
• Monitor regulatory and capital metrics related to XVA.
• Optimise collateral asset portfolios, considering funding costs, capital usage and liquidity.
• Design and price bespoke products to meet client demand.

Required profile

• 4–5 years of front‑office experience in trading or structuring.
• Previous exposure to XVA trading, options, exotic or hybrid products is preferred.
• Strong understanding of credit, interest‑rate and FX risk.
• Proactive attitude toward risk management and regulatory compliance.

Required skills