Core Operations, SA

About the role
We are seeking a Senior Associate to manage end-to-end post-trade custody operations for the Saudi Arabia (KSA) market, covering securities settlement, cash & FX operational support, corporate actions and income, reconciliations, and onboarding/account setup – Sunday to Thursday. This role requires strong familiarity with local market practices and a solid understanding of the KSA post-trade ecosystem: trading on the Saudi Exchange, clearing via Muqassa (CCP), and depository/settlement via Edaa, with settlement cash movements supported through SAMA.

Why this role is important to us
The company is one of the world’s largest global custodians, with over USD 51.7 trillion in AUC/A, and is executing a growth strategy that includes expanding direct market presence.
As part of this strategy, the Kingdom of Saudi Arabia (KSA) is a priority market, supported by Vision 2030 reforms, increasing foreign participation, and strong institutional demand.
This role is critical to:

• Enabling scalable market entry and growth by delivering strong, controlled post-trade operations aligned to local market infrastructure and rules.
• Ensuring a high-quality client experience through timely settlement, strong exception management, and robust controls as KSA market activity expands.
• Supporting the firm’s ability to deepen relationships with key institutional clients as the market evolves.

Key responsibilities (KSA-specific)
1) Clearing & settlement operations (Cash Market – Equities / ETFs / Sukuk & Bonds as applicable)

• Manage settlement processing for Saudi Exchange transactions settling at Edaa, ensuring accurate, timely completion across relevant cycles (e.g., T+2 for normal exchange trades; negotiated deals T+0–T+5; buy-ins T+0, as applicable).
• Reconcile and validate trade/settlement obligations by aligning client instructions and broker confirmations with clearing outcomes (Muqassa) and settlement processing (Edaa); investigate and resolve exceptions promptly.
• Monitor settlement status proactively, manage potential fails, and follow KSA fails workflows noting that fails management procedures are defined and conducted by Muqassa, with Edaa rollover/cancellation and market-claim handling where applicable.
• Manage lifecycle of settlement instructions (including amendments/cancellations/partial settlement where permitted) in line with Edaa procedures and local cut-offs.

2) Cash settlement & funding (SAMA)

• Ensure funding readiness for DvP settlement, understanding that KSA settlement is gross on the securities leg and netted on the cash leg, with cash settlement executed via SAMA settlement member accounts.
• Perform cash reconciliations linked to settlement activity; investigate breaks and drive timely resolution within cut-offs.

3) FX operations (operational support)

• Process FX-related operational activities supporting settlement and client cash requirements (settlement-linked and standalone requests per operating model), validating confirmations and ensuring correct value dating and SSI usage.

4) Corporate actions, dividends & income

• Manage corporate actions and income events, ensuring accurate entitlements, timely postings, and robust reconciliations; coordinate vendor feeds and security setup with internal market data/static data teams as required.

5) Client onboarding & investor identification

• Support onboarding/account setup and documentation in line with Edaa account structures and membership rules; ensure correct capture/validation of investor identification in Edaa’s framework (Investor Identification Number / Investor ID).
• Support QFI onboarding requirements within the local custody/account operating model to ensure settlement readiness.

6) Messaging, controls & stakeholder management

• Use SWIFT ISO 15022 (MT) and exposure to ISO 20022 (MX) standards for settlement/reconciliation/corporate actions messaging with clients/custodians and market counterparts, supporting high STP and clean exception handling.
• Execute daily controls and checklists on time; ensure adherence to local cut-offs and internal policies; escalate high-risk/time-sensitive issues with clear impact articulation.
• Partner with internal teams (Operations, Risk, Client Services) and external stakeholders (brokers, clearing/settlement participants, custodians, relevant market entities) to resolve issues and improve outcomes.

Experience & preferred qualifications

• Bachelor’s degree (or above) in Finance, Accounting, or related field.
• 3–5 years’ experience in custody/post-trade operations (KSA market experience strongly preferred).
• Strong understanding of KSA post-trade flow across Muqassa (clearing/CCP) and Edaa (CSD/settlement), and the implications of T+2 and DvP cash settlement via SAMA.
• Strong analytical/problem-solving skills, attention to detail, ability to work under strict cut-offs, and strong stakeholder management.