Custody Manager

About the role

This position involves overseeing the secure holding, settlement, and management of client assets within Alpaca's operations. You will ensure the integrity of billions of Saudi Riyals in customer holdings in the Saudi Arabian capital markets.

Key facts

What you'll do

• Manage daily custody operations, including settlement for Saudi equities and fixed-income instruments, asset transfers, and position reconciliation.
• Act as the main contact for the Securities Depository Center (Edaa), the Saudi Exchange (Tadawul), custodian banks, and clearing entities.
• Develop and refine operational workflows to enhance efficiency, mitigate risk, and support business expansion in line with Capital Market Authority (CMA) guidelines.
• Oversee the processing of corporate actions such as dividends, rights issues, and stock distributions.
• Partner with engineering and product teams to automate custody processes and reduce manual tasks.
• Ensure adherence to CMA regulations, including Securities Business Regulations and client asset segregation rules.
• Coordinate with the CMA and other Saudi regulatory bodies for audits and reporting.
• Lead and mentor a team of custody operations professionals.

Requirements

• A minimum of 7 years of experience in securities custody, clearing, or brokerage operations, with a preference for experience in the Saudi or GCC capital markets.
• Comprehensive understanding of Edaa depository services, Tadawul settlement procedures, and the Saudi securities lifecycle.
• In-depth knowledge of CMA regulations, including Securities Business Regulations, Anti-Money Laundering (AML) rules, and client asset protection.
• Familiarity with Saudi-listed asset types such as equities, Sukuk, ETFs, REITs, and government bonds.
• Proficiency in both Arabic and English, with strong communication and collaboration abilities across technical and non-technical groups.
• Experience in managing reconciliation processes and resolving settlement discrepancies.
• Demonstrated ability to create, document, and improve operational procedures within a regulated framework.
• A strong focus on detail and a risk-conscious approach.
• Prior experience in managing or mentoring a team.

Nice to have

• Holding a CME-1 certification or other CMA-recognized professional qualifications.
• Experience with Qualified Foreign Investor (QFI) programs or Swap arrangements on Tadawul.
• Previous work in a fintech, startup, or a CMA-authorized institution.
• Familiarity with APIs, automation tools, or experience collaborating with engineering teams on custody modernization.
• Understanding of digital asset custody and blockchain-based securities.
• Knowledge of Saudi Vision 2030 financial sector development and CSDI reforms.
• Experience working in a remote or hybrid setting.

Skills & tools

• Securities Custody Operations
• Capital Markets
• Saudi Exchange (Tadawul)
• Securities Depository Center (Edaa)
• CMA Regulations
• Reconciliation
• Corporate Actions
• Team Management
• Arabic Language
• English Language

Practical notes

• Competitive Salary & Stock Options
• Health Benefits
• USD $500 one-time home-office setup stipend
• USD $150 monthly stipend via Brex Card