Custody Manager📣 إعلان

About Alpaca and the Role

Alpaca is a US-headquartered global leader in agent-first brokerage infrastructure, providing licensed financial services to hundreds of institutions across 40 countries. With over 10 million brokerage accounts, our diverse team of 400+ professionals is dedicated to opening financial services globally. We are seeking a Custody Manager to join our team in Riyadh, Saudi Arabia, on a full-time basis. This role is integral to our operations, aligning with our core values of Stay Curious, Have Empathy, and Be Accountable.

Role Overview

As Custody Manager, you will oversee the safekeeping, settlement, and administration of client securities assets for Alpaca within the Kingdom of Saudi Arabia's capital markets. This position ensures the safety and integrity of billions of Saudi Riyals in customer holdings. Operating as part of the Operations team, you will manage the end-to-end custody lifecycle for Alpaca's brokerage and Trading API customers, encompassing asset safekeeping, trade settlement, corporate actions processing, reconciliation, and regulatory reporting. The role involves close collaboration with the Securities Depository Center (Edaa), the Saudi Exchange (Tadawul), custodian banks, and internal stakeholders to ensure custody operations run seamlessly and in full compliance with Capital Market Authority (CMA) regulations and other applicable Saudi financial laws.

Key Responsibilities

• Own and manage the 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.
• Design and improve operational processes to increase efficiency, reduce risk, and support business growth in alignment with CMA requirements.
• Lead corporate actions processing, including dividends, rights issues, stock splits, mergers, and Zatka-related distributions.
• Collaborate with engineering and product teams to automate custody workflows and reduce manual touchpoints.
• Ensure compliance with CMA regulations, including the Securities Business Regulations, the Investment Funds Regulations, and client asset segregation requirements.
• Liaise with the CMA and other Saudi regulatory bodies during audits, inspections, and reporting cycles.
• Manage, mentor, and develop a team of custody operations professionals.

Required Qualifications

• 7+ years of experience in securities custody, clearing, or brokerage operations, preferably within the Saudi or GCC capital markets.
• Strong knowledge of Edaa depository services, Tadawul settlement processes, and the Saudi securities lifecycle.
• Deep understanding of CMA regulations, including the Securities Business Regulations, Anti-Money Laundering (AML) rules, and client asset protection requirements.
• Familiarity with Saudi-listed asset classes including equities, Sukuk, ETFs, REITs, and government bonds.
• Excellent communication and collaboration skills in both Arabic and English, with the ability to work across technical and non-technical teams.
• Experience managing reconciliation processes and investigating and resolving settlement breaks.
• Proven ability to build, document, and improve operational procedures in a regulated environment.
• Strong attention to detail and a risk-aware mindset.
• Experience managing or mentoring a team.

Preferred Qualifications

• CME-1 (Certified Market Expert) or other CMA-recognized professional certifications.
• Experience working with Qualified Foreign Investor (QFI) programs or Swap arrangements on Tadawul.
• Experience working at a fintech, startup, or CMA-authorized institution.
• Familiarity with APIs, automation tooling, or working closely with engineering teams to modernize custody operations.
• Experience or understanding of digital asset custody and blockchain-based securities.
• Knowledge of Saudi Vision 2030 financial sector development initiatives and CSDI reforms.
• Experience working remotely or in a hybrid environment.

Application Information

This full-time position offers an opportunity to contribute to Alpaca's growth within the Saudi capital markets, supporting the operational backbone of our platform in line with Saudi Vision 2030. We encourage qualified candidates who meet the requirements to apply.