Core Operations SA

About the Role

State Street Corporation is seeking a Senior Associate for a full-time Core Operations, SA role. This position involves managing 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. The work schedule is Sunday to Thursday, and the role requires 0-1 years of experience.

Role Context and Importance

This role is critical for State Street's growth strategy, which includes expanding its direct market presence in the Kingdom of Saudi Arabia (KSA). KSA is a priority market, supported by Vision 2030 reforms, increasing foreign participation, and strong institutional demand. The Senior Associate will ensure scalable market entry and growth by delivering robust post-trade operations aligned with local market infrastructure and rules, maintaining a high-quality client experience through timely settlement, effective exception management, and strong controls as KSA market activity expands. This position supports the firm's ability to deepen relationships with key institutional clients as the market evolves.

Responsibilities

• Manage settlement processing for Saudi Exchange transactions settling at Edaa, ensuring accurate and timely completion across relevant cycles (*, 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 the lifecycle of settlement instructions (including amendments/cancellations/partial settlement where permitted) in line with Edaa procedures and local cut-offs.

Requirements

• 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.

Required Skills and Experience

• Strong familiarity with local market practices in Saudi Arabia.
• Solid understanding of the KSA post-trade ecosystem, including trading on Saudi Exchange, clearing via Muqassa (CCP), and depository/settlement via Edaa, with settlement cash movements supported through SAMA.
• 0-1 years of experience in a relevant field.

About State Street Corporation

State Street Corporation is a global custodian, serving institutional investors worldwide to manage risk, respond to challenges, and drive performance. The company emphasizes client focus and values engaged employees, fostering an environment where every employee feels valued and empowered. State Street is an Equal Opportunity Employer, considering all qualified applicants without regard to various protected characteristics.