Core Operations, SA

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.

Key responsibilities (KSA-specific)

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 ).

• Support QFI onboarding requirements within the local custody/account operating model to ensure settlement readiness.

6) Messaging, controls & stakeholder management

• Use SWIFT ISO 15022…