Custody Manager

Alpaca is a US-headquartered self-clearing broker-dealer and brokerage infrastructure company that is seeking a Custody Manager. In this role, you will oversee the safekeeping, settlement, and administration of client securities assets, ensuring compliance with regulatory requirements and managing the custody operations workflow.

Responsibilities:

• 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

Requirements:

• 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
• 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