Role in brief
Alpaca, a financial services company, seeks a senior Custody Manager to oversee securities custody operations in Saudi Arabia. This role involves managing the custody lifecycle for brokerage and Trading API clients, ensuring compliance with local regulations, and leading a team. Candidates with extensive experience in Saudi capital markets and regulatory frameworks should apply.
About the role
This role focuses on managing the complete lifecycle of securities custody for Alpaca's brokerage and Trading API clients. The Custody Manager will be responsible for the safekeeping, settlement, and administration of client assets, ensuring all processes are efficient and compliant. Success in this position means maintaining seamless operations and effectively handling corporate actions within the custody framework.
The Custody Manager will play a key role in ensuring adherence to CMA regulations and Saudi financial laws, safeguarding client assets. This involves collaborating with various internal and external groups to streamline custody operations. A critical part of the role is to automate workflows to enhance efficiency and accuracy in custody processes.
The position also involves leadership, as the Custody Manager will be responsible for mentoring and developing a team of custody operations professionals. This leadership aspect is crucial for building a strong, knowledgeable team capable of managing complex custody functions and adapting to regulatory changes in the Saudi capital markets.
The annual salary for this position ranges from $75,000 to $125,000 USD.
Skills that matter here
- Edaa depository services: This role requires strong knowledge of Edaa depository services to oversee securities custody operations in Saudi Arabia.
- Tadawul settlement processes: Understanding Tadawul settlement processes is essential for managing the end-to-end custody lifecycle for clients.
- CMA regulations: A deep understanding of CMA regulations is necessary to ensure compliance and client asset protection.
- AML: The role involves ensuring compliance with financial laws, which includes aspects of Anti-Money Laundering.
Who this role suits
- A candidate with at least seven years of experience in securities custody, clearing, or brokerage operations.
- Someone who possesses a strong understanding of Saudi capital market regulations and operational procedures.
- An individual capable of leading and developing a team of operations professionals.
- A professional who is fluent in both Arabic and English, enabling effective communication with stakeholders.
From the employer
- Oversee the safekeeping, settlement, and administration of client securities assets.
- Manage the end-to-end custody lifecycle for brokerage and Trading API customers.
- Ensure compliance with CMA regulations and Saudi financial laws.
- Collaborate with internal and external stakeholders to ensure seamless operations.
- Lead corporate actions processing and automate custody workflows.
- Manage, mentor, and develop a team of custody operations professionals.
- 7+ years of experience in securities custody, clearing, or brokerage operations.
- Strong knowledge of Edaa depository services and Tadawul settlement processes.
- Deep understanding of CMA regulations and client asset protection requirements.
- Excellent communication skills in Arabic and English.
- Experience managing reconciliation processes and operational procedures.
- Competitive Salary & Stock Options
- Health Benefits
- New Hire Home-Office Setup: One-time USD $500
- Monthly Stipend: USD $150 per month via a Brex Card
Questions about this role
What is the remote work policy for this position?
This is a fully remote position, allowing the successful candidate to work from a location of their choice.
What level of seniority is expected for this role?
This is a senior-level position, requiring significant experience in securities custody and operations.
What are the key skills required for this role?
Key skills include expertise in Edaa depository services, Tadawul settlement processes, CMA regulations, and AML, along with proficiency in Arabic and English.
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