Head of Pensions (Head of Financial Management) | S5 | Financial Management | London | Internal Mobility
SantanderIT STARTS HERE
Santander (www.santander.com) is evolving from a global, high-impact brand into a technology-driven organisation, 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 DIFFERENCE YOU MAKE
Santander UK Financial Management is looking for a Head of Pensions (Head of Financial Management) based out of Location to confirm.
Lead the end-to-end financial management, governance, control, risk oversight and strategic stewardship of Santander UK’s approximately £7.5bn Defined Benefit Pension Scheme, acting as the senior subject matter expert for pensions, pension accounting and pension risk management.
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:
Lead Santander UK’s Pension Obligation Risk framework, covering funding, covenant, investment, governance and operational risks.
Own pension strategy, governance and reporting, including ICAAP, Pillar 2A, stress testing, scenario analysis and capital planning.
Lead pension funding strategy with Pension Trustees, Group Finance, Treasury and Risk, including actuarial assumptions and employer contribution strategy.
Oversee pension scheme asset strategy, investment operations, collateral management, liquidity and risk-adjusted financial outcomes.
Lead pension accounting policy, IAS19 valuations, external reporting, statutory disclosures and the associated financial control framework.
Oversee scheme administration and member services, including communications, queries and stakeholder engagement.
Maintain senior relationships with Trustees, regulators, actuaries, auditors, investment managers, custodians and external advisers.
Lead and develop a specialist team of pension, finance and risk professionals while driving continuous improvement across governance and reporting.
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 organisation. 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
Significant experience in pensions, financial management, accounting, treasury, risk or actuarial disciplines. (Required)
Demonstrable senior leadership experience within a regulated financial services environment. (Required)
Proven experience influencing Boards, Trustees and Executive Committees. (Required)
Significant experience managing large-scale pension assets, investment strategies and funding arrangements. (Required)
Education
Bachelor’s degree or relevant qualification in finance or accounting, or substantial evidenced relevant work experience supported by professional certification such as CICM or ACCA. (Required)
Languages
No additional language requirement is specified in the role profile.
Hard Skills
Extensive knowledge of defined benefit pension schemes, funding frameworks and pension risk management. (Required)
Expert understanding of Pension Obligation Risk within ICAAP, SREP and Pillar 2A capital frameworks. (Required)
Deep knowledge of IAS19 accounting, actuarial valuation methodologies and pension-related financial reporting. (Required)
Strong knowledge of financial services regulation, prudential capital, stress testing and scenario analysis. (Required)
Soft Skills
Strategic leadership and risk-adjusted decision making. (Required)
Ability to communicate with and influence senior internal and external stakeholders. (Required)
Strong governance, control and results orientation. (Required)
WE VALUE YOUR IMPACT
At Santander, your contribution matters. We recognise the difference you make every day, and we make sure you feel valued, supported and rewarded in return.
Here, recognition goes beyond pay. It’s about the pride you feel in your work, the impact you have on customers and communities, and the opportunities you have to grow and thrive — personally and professionally.
Salary Range: £105,036.00 - £157,554.00 per annum (depending on experience)
This salary range represents the expected remuneration for the role. Annual salary is based on a standard 35-hour working week. Actual salary offered will depend on skills, experience, qualifications and location.
Competitive rewards that reflect the real impact you make and the value you bring.
Wellbeing that goes beyond work — we work with a range of wellbeing partners across our 4 pillars of wellbeing (physical, mental, social and financial) to give you access to a suite of apps, discounted gym and fitness access, weekly online classes, flexible healthcare and mental health support.
Support for every life stage — from menopause and pregnancy to parenthood and beyond, with enhanced family leave, childcare options and tailored wellbeing support.
Time to give back through volunteering opportunities that let you make a difference in the communities we serve.
Global growth opportunities to shape your career, learn new skills and explore what’s possible across our international network.
Ready to be recognised? It starts with you.
LOCAL COMPLIANCE
At Santander, we’re proud to be an inclusive organisation that provides equal opportunities for everyone — regardless of age, gender, disability, civil status, race, religion or sexual orientation.
We’re committed to creating a recruitment experience that’s accessible, fair and welcoming for all candidates.
We want our people to thrive — at work and at home — while delivering the best outcomes for our customers and supporting each other to grow.
To make this possible, our roles are site-based with a hybrid working pattern, where colleagues are expected to attend the office at least 12 days per month (pro-rata for part-time roles).
When applying, please consider the travel distance, time and cost to your chosen office location(s).
We welcome applications on the understanding that, should you be offered this role, there may be no relocation package available. Santander will pay the employer mandatory government fees that are required to pay in connection with visa sponsorship. You may be liable for your own personal employee immigration and relocation costs.
WHAT TO DO NEXT
If this sounds like a role you are interested in, then please apply.
For further Guidance please visit Internal Mobility - Candidate Guidance
.
If you want to know more about the opportunity:
Please contact: iain.sheppard@santander.co.uk