Job description

About Alpaca

Alpaca is a US-based global frontrunner in agent-centric brokerage infrastructure, offering services across stocks, ETFs, options, crypto, fixed income, and more with 24/5 trading availability. It operates as a licensed financial services company serving hundreds of institutions including broker-dealers, investment advisors, wealth managers, hedge funds, and crypto exchanges, managing over 10 million brokerage accounts worldwide. Alpaca's diverse team of engineers, traders, and brokerage experts collaboratively enhance a highly regarded and developer-centric API supported by robust infrastructure. Backed by $400 million from prominent global investors, the company boasts a dynamic workforce of over 400 members distributed across the globe.

Role Overview

The Custody Manager will oversee the safeguarding, settlement, and management of client securities assets within Alpaca’s operations in Riyadh, Saudi Arabia. This role ensures the protection and proper administration of billions of Saudi Riyals in client holdings in compliance with Saudi capital market regulations.

Key Responsibilities

Manage daily custody operations including trade settlements (T+2), asset transfers, and position reconciliation for Saudi-listed equities, Sukuk, and fixed-income assets.
Act as the primary liaison with the Securities Depository Center (Edaa), Saudi Exchange (Tadawul), custodian banks, and clearing entities.
Design and refine operational processes to enhance efficiency, mitigate risk, and support growth complying with Capital Market Authority (CMA) standards.
Lead the processing of corporate actions such as dividends, rights issues, stock splits, mergers, and Zatka-related distributions.
Collaborate with engineering and product teams to automate custody workflows and minimize manual interventions.
Ensure adherence to CMA regulations including Securities Business Regulations, Investment Funds Regulations, and client asset segregation guidelines.
Engage with CMA and other regulatory bodies during audits, inspections, and reporting cycles.
Supervise, mentor, and develop custody operations staff.

Candidate Profile

Minimum of 7 years’ experience in securities custody, clearing, or brokerage operations, with substantial exposure to Saudi or GCC capital markets.
Comprehensive knowledge of Edaa depository services, Tadawul settlement mechanisms, and Saudi securities lifecycle.
Strong familiarity with CMA regulations, including AML and client asset protection.
Experience with Saudi-listed securities such as equities, Sukuk, ETFs, REITs, and government bonds.
Fluency in Arabic and English with excellent interpersonal skills to interact across technical and non-technical teams.
Proficient in managing reconciliation processes and resolving settlement discrepancies.
History of building and enhancing operational procedures within regulated environments.
Meticulous attention to detail and a proactive risk management approach.
Experience leading or mentoring operational teams.

Preferred Qualifications

CME-1 or other CMA-recognized certifications.
Experience with Qualified Foreign Investor programs or Swap agreements on Tadawul.
Background in fintech startups or CMA-authorized institutions.
Working knowledge of custody APIs, automation tools, and collaboration with engineering teams for operational modernization.
Understanding of digital asset custody and blockchain-based securities.
Awareness of Saudi Vision 2030 financial initiatives and CSDI reforms.
Comfortable working in remote or hybrid working environments.

Benefits

Competitive compensation package with stock options.
Comprehensive health benefits.
One-time $500 allowance for home office equipment for new hires.
Monthly stipend of $150 issued via Brex Card.

Additional Information

Alpaca embraces diversity, providing equal employment opportunities regardless of background. The company upholds privacy standards in recruitment processes.

Custody Manager