Core Operations, AVP
State Street
RiyadhPosted 6 days agoDiscoveredMatch locked
Full time10+ years exp
About the role
We are hiring an
Assistant Vice President (AVP)
to lead
end‑to‑end post‑trade custody operations in Saudi Arabia
, spanning clearing & settlement, cash & FX operational support, corporate actions/income, reconciliations, and client onboarding / account set‑up -
Sunday to Thursday
. You will drive
service excellence
,
strong risk & control discipline
, and
regulatory adherence
across the KSA post‑trade ecosystem: trading on
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
State Street 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.
1) Clearing & Settlement (Equities, ETFs, Sukuk/Bonds)
- Own daily settlement processing for
Saudi Exchange
trades, settling at
Edaa
in line with market cycle (standard
T+2
; negotiated deals
T+0 to T+5
, where applicable).
- Reconcile and validate client instructions, broker confirmations and
Muqassa
clearing outcomes; proactively resolve exceptions and breaks.
- Monitor fails, manage aged items, and coordinate remediation per
Muqassa fails management
processes and local cut‑offs.
- Manage instruction lifecycle (amend/cancel/partial handling where permitted) and maintain robust STP and control checks.
2) Cash & Funding (DvP / SAMA-linked settlement)
- Ensure funding readiness for
DvP settlement
and oversee cash settlement processing and reconciliations. (KSA market practice:
securities settle gross; cash settles net via SAMA-linked settlement accounts
).
- Investigate and clear cash breaks within cut‑offs; escalate time‑critical issues with clear impact articulation.
3) FX Operations (Operational Support)
- Support FX activities required for settlement and client cash needs (confirmations, value dates, SSIs); drive timeliness and exception reduction.
4) Corporate Actions, Dividends & Income
- Manage end‑to‑end asset servicing: event capture, entitlement validation, booking/posting, reconciliations, and issue resolution with internal partners and vendors.
5) Client Onboarding / Account Set‑Up (Edaa structures)
- Lead operational onboarding to ensure accounts are set up correctly to be settlement‑ready (including
Edaa account structures
and investor identifiers required for local processing).
- Partner with Client Service, Compliance/KYC and market counterparts to deliver smooth go‑lives and operational readiness.
6) Controls, Governance & Audit Readiness
- Own daily controls, reconciliations, evidence retention and
audit‑ready
documentation; support internal/external audits and risk assessments.
- Maintain strong messaging discipline and operational risk management; experience with
SWIFT MT
and exposure to
ISO 20022 MX
preferred.
7) Leadership & Stakeholder Management
- Lead and develop a small‑to‑mid sized operations team; set objectives, coach performance and build cross‑coverage/skills resilience.
- Act as an escalation point and trusted partner for brokers, custodians, market infrastructures, correspondent banking partners and internal stakeholders (Ops, Risk, Technology, Client).
- Drive continuous improvement, automation, and standardization aligned to regional and global operating model.
Operational analytics & reporting (streamlined)
- Build and own KPI/MIS for post‑trade performance (e.g.,
STP
, settlement timeliness, fail rate, aged breaks, cash funding accuracy, FX confirmation timeliness, corporate action accuracy, reconciliation break rate).
- Produce daily dashboards and monthly senior management packs (trends, root cause, remediation plan, automation pipeline).
- Run capacity/utilization and coverage planning aligned to local market operating days (
Sunday–Thursday
coverage considerations).
Qualifications & experience
- Bachelor's degree in Finance, Accounting or related discipline (Master's/MBA preferred).
•
10–12 years
' experience across settlement, custody operations, corporate actions, FX operations and reconciliations;
3+ years
people management experience (KSA / Middle East experience strongly preferred).
- Strong knowledge of post‑trade risk & controls, exception management and stakeholder communication.
- Working knowledge of SWIFT (and market messaging); familiarity with Bloomberg/Refinitiv and corporate actions platforms advantageous.
#LI
About State Street
Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. We keep our clients at the heart of everything we do, and smart, engaged employees are essential to our continued success.
We are committed to fostering an environment where every employee feels valued and empowered to reach their full potential. As an essential partner in our shared success, you'll benefit from inclusive development opportunities, flexible work-life support, paid volunteer days, and vibrant employee networks that keep you connected to what matters most. Join us in shaping the future.
As an Equal Opportunity Employer, we consider all qualified applicants for all positions 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.
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