Custody Manager

About the role

You will oversee the safekeeping and administration of client securities assets within the Kingdom of Saudi Arabia, ensuring the integrity of billions of Saudi Riyals in customer holdings. You are responsible for managing the end-to-end custody lifecycle in strict alignment with Capital Market Authority regulations. This role requires deep expertise in Saudi or GCC securities operations and a commitment to scalable, compliant processes. You will work closely with the Securities Depository Center (Edaa), the Saudi Exchange (Tadawul), and internal stakeholders to drive operational excellence. The position is integral to supporting Alpaca's mission of opening financial services to everyone on the planet. You will ensure that custody operations run seamlessly and reliably for our global customer base.

Key facts

What you'll do

Assume ownership of daily custody operations workflow, including trade settlement (T+2), asset transfers, and position reconciliation across Saudi-listed equities, Sukuk, and fixed-income instruments.

Serve as the primary point of contact with the Securities Depository Center (Edaa), the Saudi Exchange (Tadawul), custodian banks, and clearing entities to facilitate smooth information flow.

Design and refine operational processes to increase efficiency, reduce risk, and support business growth while adhering strictly to CMA requirements.

Lead corporate actions processing, managing complex events such as dividends, rights issues, stock splits, mergers, and Zatka-related distributions with precision.

Collaborate with engineering and product teams to translate custody requirements into robust technical and procedural solutions.

Ensure the accuracy and timeliness of reconciliation and reporting across all custody activities to maintain regulatory compliance.

Monitor and mitigate operational risks by implementing strong controls and validating processes across the custody lifecycle.

Support the development and execution of standard operating procedures that enhance reliability and scalability within the Saudi capital markets ecosystem.

Act as a subject matter expert for custody-related inquiries, providing clear guidance to internal stakeholders and external partners.

Drive continuous improvement initiatives that align with Saudi Vision 2030 and the evolving landscape of the Kingdom's capital markets.

Participate in cross-functional projects that strengthen the operational backbone of Alpaca's platform for brokerage and Trading API customers.

Contribute to maintaining a robust and compliant custody infrastructure that supports billions in client assets.

Engage with international best practices while ensuring full adherence to local laws and regulatory frameworks.

Promote a culture of accountability, transparency, and meticulous execution across the custody operations function.

Requirements

You possess a deep understanding of securities operations within the Saudi or GCC market, including custody, settlement, and corporate actions.

You are experienced in managing end-to-end custody lifecycles, including asset safekeeping, trade settlement, reconciliation, and regulatory reporting.

You have a proven track record of working with the Securities Depository Center (Edaa), the Saudi Exchange (Tadawul), and custodian banks.

You demonstrate strong knowledge of Capital Market Authority (CMA) regulations and other applicable Saudi financial laws.

You have the ability to design, implement, and improve scalable operational processes in a fast-paced environment.

You show a high level of accuracy and attention to detail when handling complex custody transactions and data reconciliation.

You communicate effectively with both technical and non-technical stakeholders across compliance, engineering, and product functions.

You are committed to maintaining the highest standards of integrity and security in the handling of client assets.

Practical notes

The role operates on a remote-first basis across the EMEA region with flexible working arrangements. There are no specific hours or travel requirements outlined in the source material. Candidates must be eligible to work in Saudi Arabia and comply with all local visa and regulatory obligations. The position is part of Alpaca's global team, which includes professionals in the USA, Canada, Japan, Hungary, Nigeria, Brazil, the UK, and other locations. Successful candidates will align with the company's core values of Stay Curious, Have Empathy, and Be Accountable. The role supports Alpaca's mission of opening financial services to everyone on the planet and contributes to the growth of their award-winning developer-friendly API platform.