Director of Capital Management

Country: Spain

IT STARTS HERE

Santander (www.santander.com) 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.

The Wealth Management & Insurance division covers three businesses in all Santander Group countries: Insurance, Asset Management and Private Banking. We work to provide the best solutions to our clients in these three businesses in the 10 countries where we are present.

THE DIFFERENCE YOU MAKE

Santander Wealth Management & Insurance is looking for a Director of Capital Management based out of Madrid

We’re shaping the way we work through innovation, cutting-edge technology, collaboration and the freedom to explore new ideas.

We are seeking an experienced Director of Capital Management to lead the capital management strategy of Santander’s insurance businesses globally, across Europe and the Americas, to ensure:

• The capital adequacy and efficiency of the insurance businesses of Santander Group
• Robust compliance with Solvency II and other relevant international prudential requirements

This role is pivotal in optimizing capital efficiency, managing risk, and supporting strategic decision-making at the highest level. 

Key responsibilities

• Work closely with the reporting teams, both global and local, to ensure the capital treatment of Santander’s insurance businesses is appropriate and consistent 
• Coordinate with the M&A team to determine the appropriate capital treatment for potential future acquisitions
• Work closely with the executive team to develop and deliver group holding and risk management structures that ensure capital efficiency for the local and global insurance businesses, and Santander Group overall
• Develop and maintain capital management plans, collaborating with senior management to ensure they are aligned with business objectives 
• Monitor capital and accounting developments closely to help Santander Group prepare in a timely manner for future changes

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

• Minimum 10 years’ experience in insurance, preferably in capital management, valuation or reporting in an international insurance group and/or consulting firm (Required)

Education

• Degree in Actuarial Science, Finance, Mathematics, Law or related field; (Required)
• Actuarial or CFA qualification (Preferred)

Languages

• English language proficiency (Required)
• Spanish desirable (Preferred)

Hard Skills

• Deep knowledge of Solvency II regulations and their application to insurance groups, preferably across different jurisdictions, ownership levels and holding structures (Required)
• Understanding of IFRS accounting frameworks, including IFRS17 (Required)
• Strong analytical, problem-solving and communication skills, with the ability to influence at senior levels (Required)
• Experience leading and delivering multi-stakeholder projects (Required)
• Understanding of the interaction between insurance and bank capital regimes (Preferred)
• Experience across both life and non-life sectors at the insurance company level (Preferred)
• Understanding of capital and accounting frameworks in the Americas (Preferred)

Soft Skills

• Strategic thinking with a commercial mindset
• High attention to detail and accuracy
• Proactive working style and ability to manage multiple priorities
• Collaborative style with cross-functional influence

WE VALUE YOUR IMPACT

Your contribution matters, and it’s recognized. You can expect a fair, competitive reward package that reflects the impact you create and the value you deliver. But we know rewards go beyond numbers.

• We’re enable our teams to go beyond through global opportunities and broad career paths.
• Flexibility that works. Enjoy a hybrid working model—some days remote, some days onsite with your team—along with flexible hours.
• Learning for life. Access hundreds of courses on our platforms, including exclusive access to our global learning space: Santander Open Academy (www.santanderopenacademy.com)
• Competitive rewards. Receive a highly competitive salary with performance-based bonuses, motivating you to keep growing with us.
• Financial advantages. Benefit from preferential banking terms, special interest rates on loans, life insurance, and more.
• Your health is our priority. Through BeHealthy, our global wellness programme, we promote Holistic wellbeing.
• We know family is everything. That’s why we offer childcare support and family-friendly programmes tailored to each life stage.
• Always by your side. Get access to Santander Contigo, our program for employees and their families offering legal, emotional, and administrative advisory services.
• Extra benefits. Gym/WellHub membership, medical centers in some of our facilities, meal subsidy, parking, shuttle service from various points in Madrid, as well as exclusive discounts and offers for Santander employees. And that’s only the beginning—we’ll tell you more when you join!

We’re here to keep you motivated, help you reach your goals, and celebrate your progress, every step of the way.

LOCAL COMPLIANCE

Santander is proud of being an organization where there are equal opportunities regardless of age, gender, disability, civil status, race, religion or sexual orientation. We are committed to providing an inclusive and accessible application process for all candidates.

WHAT TO DO NEXT

If this sounds like a role you are interested in, then please apply.
 

READY TO TAKE THE NEXT STEP IN YOUR JOURNEY?