Core Operations, AVP

About the role

We are hiring an Assistant Vice President (AVP) to lead end‑to‑end post‑trade custody operations in Saudi Arabia, spanning clearing & settlement, cash & FX operational support, corporate actions/income, reconciliations, and client onboarding / account set‑up – Sunday to Thursday. You will drive service excellence, strong risk & control discipline, and regulatory adherence across 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.

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.

• Own daily settlement processing for Saudi Exchange trades, settling at Edaa in line with market cycle (standard T+2; negotiated deals T+0 to T+5, where applicable).
• Reconcile and validate client instructions, broker confirmations and Muqassa clearing outcomes; proactively resolve exceptions and breaks.
• Monitor fails, manage aged items, and coordinate remediation per Muqassa fails management processes and local cut‑offs.
• Manage instruction lifecycle (amend/cancel/partial handling where permitted) and maintain robust STP and control checks.

• Ensure funding readiness for DvP settlement and oversee cash settlement processing and reconciliations. (KSA market practice: securities settle gross; cash settles net via SAMA-linked settlement accounts).
• Investigate and clear cash breaks within cut‑offs; elevate time‑critical issues with clear impact articulation.

• Support FX activities required for settlement and client cash needs (confirmations, value dates, SSIs); drive timeliness and exception reduction.

• Manage end‑to‑end asset servicing: event capture, entitlement validation, booking/posting, reconciliations, and issue resolution with internal partners and vendors.

• Lead operational onboarding to ensure accounts are set up correctly to be settlement‑ready (including Edaa account structures and investor identifiers required for local processing).
• Partner with Client Service, Compliance/KYC and market counterparts to deliver smooth go‑lives and operational readiness.

• Own daily controls, reconciliations, evidence retention and audit‑ready documentation; support internal/external audits and risk assessments.
• Maintain strong messaging discipline and operational risk management; experience with SWIFT MT and exposure to ISO 20022 MX preferred.

• Lead and develop a small‑to‑mid sized operations team; set objectives, coach performance and build cross‑coverage/skills resilience.
• Act as an escalation point and trusted partner for brokers, custodians, market infrastructures, correspondent banking partners and internal stakeholders (Ops, Risk, Technology, Client).
• Drive continuous improvement, automation, and standardization aligned to regional and global operating model.

• Build and own KPI/MIS for post‑trade performance (e.g., STP, settlement timeliness, fail rate, aged breaks, cash funding accuracy, FX confirmation timeliness, corporate action accuracy,…