Fund Operations and Oversight Trainee (Glasgow)

SAM UK Corporate Profile

Our aim is to be the best-in-class investment solution provider in Europe and the Americas by building long-term relationships with our clients.

We are a global asset manager with extensive local knowledge in Europe and Latin America, working as a single firm in 10 major markets and with more than 50 years of experience. We are a fund manager that combines the best of complementary worlds, technology and expertise, to provide optimal solutions for our clients.

We deliver a simple, innovative and transparent service with a sole objective: offer our clients a comprehensive range of products with the right balance between risk and return. We combine fundamental bottom-up research with rigorous risk management to produce returns in our investment portfolios.

As SAM UK, we serve the local market providing solutions to meet UK customers and institutions.

Our strategy is built on four key pillars:

• A best-in-class service model

• World class product solutions

• Commercially driven organisation

• People focused, with a great sense of purpose which attracts, develops and retains talent

These four pillars are underpinned by protecting our clients: an excellent client, risk and regulatory focus with ownership throughout the organisation.

At SAM UK our behaviours underpin everything we do; we think clients, embrace change, act now, move together and speak up.

Summary of Role

This role sits within the Operations team and supports the oversight of third-party suppliers delivering key fund services, including fund accounting, custody, transfer agency and middle-office functions for UK funds. You will assist with day-to-day operational activities such as valuation (NAV) checks, reconciliations, reporting and the investigation of queries or exceptions.

The role also supports regulatory and control activities, including audit requests, risk management reporting and key operational oversight processes including CASS oversight and financial reporting. This role provides hands-on exposure to fund operations, third-party oversight and regulatory requirements, offering a great technical introduction to asset management operations.

You will gain great exposure across SAM UK, joining a small but versatile team which will allow you to play an integral part in providing proactive, value-added, hands-on support to colleagues across the firm and other parts of the Santander Group.

This is a great opportunity for a graduate who would like to build a career within investment operations while studying towards an accredited qualification, Chartered Institute of Securities and Investment (CISI) Investment Operations Certificate (IOC).

Whilst learning on the job alongside our experienced, talented and diverse team, you will also study towards the Investment Operations Certificate (IOC) via online live teaching and performance coaching.

As part of the Investment20/20 programme, you will also have opportunities to meet and network with trainees across the industry and participate in socials and insight events.

The difference you’ll make

• Support the oversight of daily fund valuation (NAV) checks, dealing activity, and reconciliations.

• Assist with investigating and resolving operational or valuation-related queries.

• Support the preparation of financial statements and responses to audit queries.

• Assist with regulatory and control activities, including CASS and client money processes and reconciliations.

• Support a range of operational activities such as trade settlement, corporate actions, invoice review, distributions, and AML/KYC checks.

• Work with internal teams and third-party suppliers to help ensure processes run smoothly and deadlines are met.

• Support the delivery of fund change activity like mergers, launches, terminations, etc.

What we are looking for

• Our Investment20/20 placement is designed for graduates who are keen to start their careers in the investment management industry. Key skills we’re looking for are:

• Someone who is motivated by opportunities to learn new skills

• An enthusiastic team player

• The ability to work on your own (of course we’ll provide you with all the support you need), and drive your work independently

• The ability to communicate effectively in a face-to-face collaborative environment

• Clear and effective written communication skills

• Ability to plan your time and manage competing priorities.

• Good attention to detail

• A creative approach to developing new and existing materials and processes

• Confident using Microsoft Office suite

In addition to the above, the successful candidate will be eligible to work in the UK.

Why join us?

If you’re looking to join a small firm within a global company boasting solid brand recognition, then this 24-month placement is for you. You’ll be given opportunities to learn a broad range of skills and work with colleagues across the UK business who want to share their knowledge and provide you with opportunities to grow.

The program will offer you a brilliant opportunity to gain experience in asset management to help you build a career within the industry after finishing the programme.

At SAM UK we’re creating a thriving workplace where all colleagues feel they belong and are supported to succeed. We all help to make Santander a workplace that celebrates diversity and attracts, retains, and develops the most talented and committed people through living our values.

How we’ll reward you

• As well as a competitive salary, you’ll enjoy an excellent benefits package which includes:

• Eligibility for a completion bonus of 15% of basic salary

• We put 15% of salary into your pension, even if you don’t contribute yourself

• Hybrid ways of working, providing adaptability to work 2 days per week from home

• 30 days’ holiday plus bank holidays

• Company funded private medical and dental insurance

• Discounted gym memberships

• Cycle 2 Work scheme

• Shopping discounts at hundreds of high street and online brands

• Other insurance benefits and voluntary healthcare benefits at discounted rates

How to Apply

If this sounds like a role you’re interested in, then we’d love to hear from you by the 29th January 2026*

To help us assess your suitability, please answer the following three questions in a separate document to your CV:

1. Why are you applying for this opportunity with SAM UK?

2. Tell us about a recent financial news story that you found interesting and why?

3. Tell us about a time when you had to work as part of a team to accomplish an important goal. Please describe the situation, your actions, and the outcome.

Application instructions:

• Please answer all three questions in between 250 and 300 words each.**

• Please attach a copy of your CV as well as a cover letter answering the questions above (two separate documents).

Start Date: ASAP

Santander Asset Management is an inclusive employer. Please let us know if you may require some adaptations to the application process.

* Note that we recruit on a rolling basis, so you are advised to apply early. The role may close before the stated date.

**Please note that, whilst we know AI is an increasingly useful tool, the purpose of these questions is to give you an opportunity to tell us more about you and how you think. It’s important your answers help us get to know you, so please do not submit wholly AI generated answers.

Unfortunately, we are unable to respond to all applications; should you not hear back from us by the 19th February 2026, please assume that your application has been unsuccessful.