Custody Manager

Alpaca

Riyadh

On-site

SAR 350,000 - 500,000

Full time

Just now

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Benefits offered by this job

Health benefits

Stock options

Home-office setup

Monthly stipend

Job summary

Alpaca, a US-headquartered global leader in brokerage infrastructure, seeks a Custody Manager in Saudi Arabia to oversee safekeeping, settlement, and administration of client securities assets within the Kingdom. You will ensure safety and integrity of billions of Saudi Riyals in customer holdings and collaborate with local regulators and partners.

You will manage end-to-end custody lifecycle for Alpaca's brokerage clients, coordinate with Edaa, Tadawul, and banks, and lead a team of custody

Qualifications

7+ years of experience in securities custody, clearing, or brokerage operations.
Strong knowledge of Edaa depository services, Tadawul settlement, and Saudi securities lifecycle.
Deep understanding of CMA regulations, including AML and client asset protection.
Familiarity with Saudi-listed assets 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.

Responsibilities

Own daily custody operations workflow, including trade settlement and reconciliation across Saudi-listed assets.
Serve as primary contact with Edaa, Tadawul, custodian banks, and clearing entities.
Design and improve processes to increase efficiency, reduce risk, and support growth in CMA alignment.
Lead corporate actions processing (dividends, rights issues, splits, mergers).
Collaborate with engineering to automate custody workflows and reduce manual touchpoints.
Ensure CMA regulatory compliance and client asset segregation requirements.
Liaise with the CMA during audits and reporting cycles.
Mentor and develop custody operations professionals.

Skills

Securities custody

Securities clearing

Brokerage operations

Saudi market experience

AML knowledge

Bilingual Arabic English

Team mentoring

Tools

Edaa depository system

Tadawul settlement tools

Job description

Alpaca is a US-headquartered, global leader in agent-first brokerage infrastructure for stocks, ETFs, options, crypto, fixed income, 24/5 trading, and more.

Amongst our subsidiaries, Alpaca is a licensed financial services company, serving hundreds of financial institutions across 40 countries with our institutional-grade APIs. This includes broker-dealers, investment advisors, wealth managers, hedge funds, and crypto exchanges, totalling over 10 million brokerage accounts.

Our global team is a diverse group of experienced engineers, traders, and brokerage professionals who are working to achieve our mission of opening financial services to everyone on the planet. We're deeply committed to open-source contributions and fostering a vibrant community, continuously enhancing our award-winning, developer-friendly API and the robust infrastructure behind it.

Alpaca is proudly backed by $400 million in funding from top-tier global investors including Portage Ventures, Spark Capital, Tribe Capital, Social Leverage, Horizons Ventures, Opera Tech Ventures, SBI Group, Derayah Financial, Unbound, Peak XV, Elefund, and Y Combinator.

Our Team Members: We're a dynamic team of 400+ globally distributed members who thrive working from our favorite places around the world, with teammates spanning the USA, Canada, Japan, Hungary, Nigeria, Brazil, the UK, and beyond!

Your Role

As a Custody Manager, you will be responsible for overseeing the safekeeping, settlement, and administration of client securities assets at Alpaca, ensuring the safety and integrity of billions of Saudi Riyals in customer holdings within the Kingdom of Saudi Arabia's capital markets.

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. Working closely with the Securities Depository Center (Edaa), the Saudi Exchange (Tadawul), custodian banks, and internal stakeholders, you will ensure that custody operations run seamlessly and in full compliance with the Capital Market Authority (CMA) regulations and other applicable Saudi financial laws.

We're looking for someone who brings deep securities operations expertise within the Saudi or GCC market, enjoys building scalable processes, and thrives in a fast-paced, detail-driven environment. Working collaboratively across compliance, engineering, and product teams, you'll ensure the operational backbone of Alpaca's platform is reliable, compliant, and built to scale in line with Saudi Vision 2030 and the Kingdom's evolving capital markets landscape.

Things You Get To Do

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

Who You Are (Must-Haves)

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

Who You Might Be (Nice-to-Haves)

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

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