Head of Operations & Custody
Skills
About This Role
Overview
The Head of Operations & Custody is responsible for overseeing all post-trade and operational functions of the brokerage firm, ensuring efficient, secure, and compliant processing of securities transactions across local and international markets.
The role manages the full operational lifecycle including clearing, settlement, custody, reconciliation, corporate actions, and client asset protection, while ensuring compliance with Capital Market Authority (CMA) regulations and market infrastructure including Saudi Exchange (Tadawul), Muqassa, and Edaa.
The position also supports the development of scalable operational frameworks to facilitate high-volume brokerage trading, digital trading platforms, and cross-border market access.
Responsibilities
- Oversee end-to-end post-trade operations including clearing, settlement, custody, and reconciliation of securities transactions
- Oversee clearing and settlement processes through Muqassa and Edaa, ensuring timely and accurate post-trade processing .Ensure proper segregation, safeguarding, and reconciliation of client assets in accordance with CMA regulations
- Manage operational processes related to cash transfers, securities transfers, payments, and collateral accounts with Muqassa
- Oversee corporate actions processing, including dividends, rights issues, stock splits, and proxy voting for nominee holdings
- Monitor daily securities positions, cash balances, and reconciliation processes, ensuring timely resolution of operational breaks
- Coordinate with Saudi Exchange, Muqassa, Edaa, custodian banks, and international brokers for settlement and custody activities
- Support operational readiness for local and international brokerage trading, including equities and other capital market products
- Support operational processes related to IPO subscriptions, allocations, and settlement activities
- Ensure compliance with CMA regulatory requirements, internal policies, and operational risk frameworks
- Lead and manage the operations and custody teams, set performance objectives, and maintain operational governance
- Participate in system implementation, automation initiatives, and User Acceptance Testing (UAT) for trading and post-trade systems
Requirements
- Bachelor's degree in Finance, Accounting, Business Administration, or related field
- CME-1 certification or eligibility to obtain the certification as required by CMA
- Minimum 8-10 years of experience in brokerage operations, custody, clearing, and settlement within capital markets, preferably in Saudi Arabia
- Strong knowledge of Saudi market infrastructure including Tadawul, Muqassa, and Edaa
- Experience supporting online brokerage platforms and high-volume trading environments
- Solid understanding of CMA regulatory framework and client asset protection requirements
- Strong leadership, operational management, and problem-solving skills
- Fluency in Arabic and English
Benefits
- Step into a global FinTech working environment
- Competitive basic salary with annual-based bonus
- Opportunity to be part of a new office setup in Saudi Arabia and grow with the company
- International working environment with global exposure
- Fast-paced startup culture with opportunities to take ownership and make a real impact
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