Core Operations, SA
State Street
RiyadhPosted 4 days agoDiscoveredMatch locked
Full time3+ years exp
About the role
We are seeking a
Senior Associate
to manage 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 -
Sunday to Thursday
. This role requires strong familiarity with local market practices and a solid understanding of 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 operations (Cash Market – Equities / ETFs / Sukuk & Bonds as applicable)
- Manage settlement processing for Saudi Exchange transactions settling at
Edaa
, ensuring accurate, timely completion across relevant cycles (e.g.,
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 lifecycle of settlement instructions (including amendments/cancellations/partial settlement where permitted) in line with Edaa procedures and local cut‑offs.
2) Cash settlement & funding (SAMA)
- 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.
3) FX operations (operational support)
- Process FX-related operational activities supporting settlement and client cash requirements (settlement-linked and standalone requests per operating model), validating confirmations and ensuring correct value dating and SSI usage.
4) Corporate actions, dividends & income
- Manage corporate actions and income events, ensuring accurate entitlements, timely postings, and robust reconciliations; coordinate vendor feeds and security setup with internal market data/static data teams as required.
5) Client onboarding & investor identification
- Support onboarding/account setup and documentation in line with Edaa account structures and membership rules; ensure correct capture/validation of investor identification in Edaa's framework (Investor
Identification Number / Investor ID
).
- Support
QFI onboarding
requirements within the local custody/account operating model to ensure settlement readiness.
6) Messaging, controls & stakeholder management
- Use
SWIFT ISO 15022 (MT)
and exposure to
ISO 20022 (MX)
standards for settlement/reconciliation/corporate actions messaging with clients/custodians and market counterparts, supporting high STP and clean exception handling.
- Execute daily controls and checklists on time; ensure adherence to local cut‑offs and internal policies; escalate high‑risk/time‑sensitive issues with clear impact articulation.
- 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.
Experience & preferred qualifications
- Bachelor's degree (or above) in Finance, Accounting, or related field.
•
3–5 years’
experience in custody/post‑trade operations (KSA market experience strongly preferred).
- Strong understanding of KSA post‑trade flow across
Muqassa (clearing/CCP)
and
Edaa (CSD/settlement)
, and the implications of
T+2
and
DvP cash settlement via SAMA
.
- Strong analytical/problem-solving skills, attention to detail, ability to work under strict cut-offs, and strong stakeholder management.
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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