Core Operations, SA📣 Job Ad
| Contract Type | Full-time | |
| Workplace type | On-site | |
| Location | Riyadh |
About the Role
State Street is seeking a Senior Associate to manage end-to-end post-trade custody operations for the Saudi Arabia (KSA) market. 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. You will ensure a high-quality client experience through timely settlement, robust exception management, and strong controls as KSA market activity expands, supporting the firm's ability to deepen relationships with key institutional clients. State Street is executing a growth strategy that includes expanding its direct market presence in the Kingdom of Saudi Arabia, a priority market driven by Vision 2030 reforms, increasing foreign participation, and strong institutional demand. This position operates on a Sunday to Thursday work schedule.
Key Responsibilities
- Manage clearing and settlement operations for the Saudi Exchange, including equities, ETFs, Sukuk, and bonds.
- Process Saudi Exchange transactions settling at Edaa, ensuring accurate and timely completion across relevant cycles (*, T+2 for normal exchange trades, T+0–T+5 for negotiated deals, and T+0 for buy-ins as applicable).
- Reconcile and validate trade and settlement obligations by aligning client instructions and broker confirmations with clearing outcomes from Muqassa (CCP) and settlement processing at Edaa, promptly investigating and resolving exceptions.
- Proactively monitor settlement status, 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, and partial settlements where permitted, in line with Edaa procedures and local cut-offs.
- Ensure funding readiness for Delivery versus Payment (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, investigating breaks and driving timely resolution within cut-offs.
- Process FX-related operational activities supporting settlement and client cash requirements, validating confirmations and ensuring correct value dating and SSI usage.
- Manage corporate actions and income events, ensuring accurate entitlements, timely postings, and robust reconciliations, coordinating vendor feeds and security setup with internal market data/static data teams as required.
- Support client onboarding and account setup in line with Edaa account structures and membership rules, ensuring correct capture and validation of investor identification in Edaa's framework (Investor Identification Number / Investor ID).
- Support Qualified Foreign Investor (QFI) onboarding requirements within the local custody/account operating model to ensure settlement readiness.
- Utilize SWIFT ISO 15022 (MT) and demonstrate exposure to ISO 20022 (MX) standards for settlement, reconciliation, and corporate actions messaging with clients, custodians, and market counterparts, supporting high Straight-Through Processing (STP) and clean exception handling.
- Execute daily controls and checklists on time, ensuring adherence to local cut-offs and internal policies.
- Escalate high-risk or time-sensitive issues with clear articulation of their impact.
- 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.
Qualifications and Requirements
- Bachelor's degree (or above) in Finance, Accounting, or a related field.
- 3 to 5 years of experience in custody or post-trade operations.
- Strong familiarity with local market practices in Saudi Arabia.
- Solid understanding of the KSA post-trade ecosystem, including trading on the Saudi Exchange, clearing via Muqassa (CCP), and depository/settlement via Edaa, with cash settlement movements supported through SAMA.
- Strong analytical and problem-solving skills.
- High attention to detail.
- Ability to work under strict cut-offs.
- Strong stakeholder management capabilities.
Required Skills
- Post-trade operations
- Securities settlement
- Cash and FX operational support
- Corporate actions processing
- Reconciliations
- Onboarding and account setup
- KSA local market practices
- KSA post-trade ecosystem (Saudi Exchange, Muqassa, Edaa, SAMA)
- Clearing and settlement operations
- Cash settlement and funding
- FX operations
- Dividends and income processing
- Client onboarding
- Investor identification
- Messaging standards (SWIFT ISO 15022/20022)
- Controls and checklist execution
- Stakeholder management
- Problem-solving
- Attention to detail
Work Environment and Location
This is a full-time position based in Riyadh, Saudi Arabia. The work schedule is Sunday to Thursday.
Requirements
- Requires 2-5 Years experience
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