We are looking for an experienced Capital Manager to join the Capital Management team in our offices at Lysaker (Oslo). Capital Management is a core strategic area of the bank responsible for ensuring sufficient capital and efficient use of capital to meet profitability targets. The team also coordinates key regulatory assessments and submissions to supervisory authorities, including ICAAP, recovery planning, and resolvability reporting.

In this position you will play a key role in understanding and interpreting capital regulations and requirements and drive efficient capital management by proactively seeking opportunities to optimize capital usage. We offer a highly visible position within an inclusive, international environment characterized by a strong learning culture, flat structure, and significant opportunities to influence decision-making.

Capital Management is part of the Financial Management (CFO) division, responsible for capital, funding, and liquidity across the Nordic region. The bank applies the advanced IRB (Internal Ratings-Based) approach for capital requirements and is an active issuer of asset-backed securities (ABS) for funding and capital relief purposes. Together, this creates a sophisticated capital landscape, offering highly engaging and professionally rewarding challenges.

You will work closely with Santander’s headquarters in Madrid as well as with internal stakeholders across Commercial, Risk, and Financial Control functions. You will be expected to regularly prepare and present proposals and status updates to Senior Management and the Board of Directors. You will also be expected to have close dialog with the Norwegian FSA (Finanstilsynet).

Key responsibilities

Develop and maintain a strong understanding of capital regulations to ensure compliance with current and future requirements, while identifying opportunities for capital optimization
Assess the need for capital transactions, obtain regulatory approvals, and ensure execution (AT1/Tier-2 issuances, and other MREL eligible debt)
Propose dividend distributions and hold the process towards the Norwegian FSA
Support securitization activities (ABS), including defining transaction needs and assessing expected capital relief
Identify and coordinate additional capital optimization initiatives (e.g., insurance solutions, data improvements, customer contract adjustments)
Coordinate regulatory assessments such as ICAAP (assess the bank’s capital needs) and recovery planning (assess the bank’s available tools to recover from a crisis)
Ensure compliance with requirements related to bank resolution (ie. be prepared for a situation where the bank is failing)
Contribute to capital budgeting and forecasting

We are looking for candidates with strong analytical capabilities and a solid understanding of capital regulation and capital management, including:

Relevant higher education in finance, economics, law or a related field
Several years of experience from a bank, financial institution, supervisory authority, or consultancy
Knowledge of capital regulation (CRR, CRD and BRRD)
Experience with ICAAP, recovery planning, and/or capital management is an advantage
Familiarity with IRB frameworks and/or capital relief transactions is beneficial
Fluency in English both written and orally (required); proficiency in a Nordic language is an advantage

To succeed in this role, you should be

Proactive with a high level of drive and execution capacity
Able to handle a high workload and deliver under deadlines
A strong team player with good collaboration skills
Comfortable taking ownership and driving processes forward
Highly organized, with a strong focus on accuracy and quality
Good presentation skills are an advantage

What we offer

A key role with strong visibility and influence
An international work environment
Opportunities for professional development and internal mobility within Santander Group
A dynamic and informal workplace culture combined with high professionalism
Competitive compensation package, including pension and insurance schemes
Hybrid working model with flexibility to work from home
Modern offices at Lysaker with excellent transport connections, parking, and fitness facilities
Access to social and sports activities

Practical information

Location: Lysaker, Oslo
Application deadline: As soon as possible, and no later than Sunday May 8th, 2026
For further information, contact Ellen Belck-Olsen, Head of Capital Management, e-mail: ellen.belck@gruposantander.com

We perform background checks on all relevant candidates. In connection with background checks, a police certificate of good conduct and credit check must be presented for positions that require authorization and/or approval of suitability This is not carried out without prior consent of the candidate.

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