Core Operations AVP

About the Role

State Street is seeking an Assistant Vice President (AVP) for Core Operations in Riyadh, Saudi Arabia. This full-time role involves leading end-to-end post-trade custody operations, including clearing & settlement, cash & FX operational support, corporate actions/income, reconciliations, and client onboarding/account set-up. The position operates Sunday to Thursday and requires over 10 years of experience.

Role Context and Importance

This role is critical for enabling scalable market entry and growth by delivering strong, controlled post-trade operations aligned with local market infrastructure and rules. It ensures a high-quality client experience through timely settlement, robust exception management, and strong controls as market activity expands in Saudi Arabia. The AVP will support State Street's ability to deepen relationships with key institutional clients as the market evolves, contributing to the firm's growth strategy in the priority market of Saudi Arabia, supported by Vision 2030 reforms.

Key Responsibilities

• Clearing & Settlement (Equities, ETFs, Sukuk/Bonds): Own daily settlement processing for Saudi Exchange trades, reconcile client instructions and clearing outcomes, monitor fails, and manage the instruction lifecycle.
• Cash & Funding (DvP / SAMA-linked settlement): Ensure funding readiness for DvP settlement, oversee cash settlement processing and reconciliations, and investigate/clear cash breaks.
• FX Operations (Operational Support): Support FX activities for settlement and client cash needs, focusing on timeliness and exception reduction.
• Corporate Actions, Dividends & Income: Manage end-to-end asset servicing, including event capture, entitlement validation, booking, reconciliations, and issue resolution.
• Client Onboarding / Account Set-Up (Edaa structures): Lead operational onboarding to ensure accounts are settlement-ready, partnering with Client Service, Compliance/KYC, and market counterparts.
• Controls, Governance & Audit Readiness: Own daily controls, reconciliations, evidence retention, and audit-ready documentation, supporting internal/external audits and risk assessments.
• Leadership & Stakeholder Management: Lead and develop a small-to-mid sized operations team, act as an escalation point, and drive continuous improvement and standardization.

Operational Analytics and Reporting

• Build and own KPI/MIS for post-trade performance, covering metrics such as STP, settlement timeliness, fail rate, and reconciliation break rate.
• Produce daily dashboards and monthly senior management packs, including trends, root cause analysis, remediation plans, and automation pipelines.
• Manage capacity/utilization and coverage planning, aligned with local market operating days (Sunday–Thursday).

Qualifications and Experience

• Over 10 years of experience in post-trade custody operations.
• Demonstrated ability to drive service excellence, strong risk & control discipline, and regulatory adherence.
• Experience with SWIFT MT and exposure to ISO 20022 MX is preferred.
• Proven leadership skills to manage and develop an operations team.

About State Street

State Street is a global custodian supporting institutional investors in managing risk, responding to challenges, and driving performance. The company is committed to fostering an inclusive environment where employees are valued and empowered. As an Equal Opportunity Employer, State Street considers all qualified applicants without regard to race, creed, color, religion, national origin, ancestry, ethnicity, age, disability, genetic information, sex, sexual orientation, gender identity or expression, citizenship, marital status, domestic partnership or civil union status, familial status, military and veteran status, and other characteristics protected by applicable law.